Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-02
MANY SECURITIES BOUGHT
DURING LAST FEW DAYS
Figures Given in Report OF tho
Banks Indicate Large
Transactions.
BORROWING ALSO Is HEAVY
War Stocks Disseminated Against.
Mexican Petroleum u FavOritc Be-
cause Market Price Has Been
Driven Down Absurdly Low.
ny nnOADAN WALL.


:, new YORK, July An increase OF
sr SS 90 30 a "o a. loans and de-
ported by the banks to-day indicates
that there has been some free buying
Of securities during the last few days,
This is evident because the average
surplus for the whole week shows an
increase Of si.oca.43o. while the loans
sho" a decrease Of $s.o2i,ooo; The
decrease OF $4,000, compared with an
average decrease OF s5.237,Oo0. Bor-
rowing must have been heavy at tho
end OF the week 10 show this marked
change in the average figures.
Ierhaps this explains the report cur
rent In Wall street to-day that banks
had Disseminated against war stocks
and automobile shares. The report ac-
G co, I free selling of ,crucihle,
prices. All of these broke sharply.
War stocks were Disseminated
asn ,l aecordinE 10 one report, be
made by the allies for their big bat
tie Just beginning should mean a speedy
end OF the war. Discrimination against
the motor stocks was due to tho plans
made Tor price cutting. with the high
price OF steel. and the lower selling
concerning profits 20 be made By the
automobile companies. Managers OF
mes, ,ae;s companies insist that efficiency
methods have so reduced the cost OF
production that more money can be
made al The lower prices than at the
prices prevailing q year ago But in
Wall street quotations for stocks arc
not made so much By facts as by what
traders think
OIL STOCKS PICKED Up
on stocks are being picked up
again by insid" people Mexican Pc
'ro!cum Is the favoritc, because the
narkc. price has been driven down
TO point absurdly low. and out Of
proportion to it's intrinsic value. Texas
Company is another. 1t is being nIIr.
chased because tho years earnings arc
to TO-. iaFFG as TO Justly great expecta-
mi ar with the business Of the COM
pany II the stock surpassed it's pre-
Nious high record this year Some Of
mand
Chief among tho reasons for buying
me OILS IS that the governments in
tua!!y IS :. scarcity OF refined pro-
ducts du" not 10 manipulation % 70
Unfair methods. but simply TO mo rre-
homcnni demand rcsul'in. from tho
way. and from the mul,ulicl'y Of Euro
p.an business
Professional traders look nnor u.
last stage of tho Goi;r,vard ,l.y.rrer.
Just as n It hpll market there comes
advance. hut when ono ypocial,. afif-
hH".nrr ls Shpt uU - p nov level now
,ne hsi as Whole does not include
IS being depressed This rs !, SIGN fr-
those who go IN for big WINNINGS u
get ready for change Bat the cbart-n
Goes not come sometimes cor weeks
%Ew YORK. Jrly ye-'oraa~s late rc
sSuGm "as '"sgrn,t anriHe 'a-fay brl,f
small to' serious consideration
.,SSrs0!.al,ie- AZ .2satn Inaer no .es'r.
though the 5r,ei su eces.ag 81. 80. .' on. -.
allied forces 'rer" in n measure rcsf,uryihi.
:or ihe Weakness Of certain munitions ami
rHi:eh States Industrial Alcohol was again
,i NN.hhsst stock, aeelin!ur =, points to
FOR thc week. MoN!csr!s. as a rroup yT.rs
no weaker than other srcc3al stocks such
as marines coppers. motors and allied Is
s,udebak"- and BALDWIN locomotive were
s saat 1n, N ~: later dsaiinrs: thu for
slight rally. and Baldwin being sold on re-
ports IL IA Dor troubles Crucih!e steel de-
clined almost points.
: hri ness. At ti,uc making more than a
anil NaGtio'hl loss and closing v!rcgally
moro obscure i'dustria!s Were . to points
in vi vsw G u ,Ge iasg As Wss sxnee'sa
earnings submitted overnight by the Penn
syivania and Ecw York Central systems
Canadian Pacific was the chief feature,
Nickel Plate ard Atlantic Coast Line
Thus wabash preferred was active and
n &esD!ns with geersql expectations III.
bank statement showed a large aotua
crease OF rs much IN eNcees reserves while
iioans expanded by slightly more rh,n SIS.
.is2aaa lower Total sales. par value
es go Gar5 s"i rs & %9S 6 shs?Fsd con- or
cess!ons In coupon $ and registered IS o.. a
Few aoiua! sales,
New YORK July l--Merean,slo paper
aSd ? 5 c s!Ny s. g s!s s72 i, Dc