The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-04
nOB|lE PRICE WAR
let MARKET FACTOR
nEd Railroad Shares. However,
s eaAOw strength and Record
Net Advances.
MARINE PLANS FOR FUTURE
- for War TO Close by Next sum
-, When Everybody I'm United
= 1a4es Will Wish TO Tour Europe.
ord TO Put Out New Car.
NY RRoADAN WALL.

Nav York. Aug. s.--cts ndard rail-
I'D stocks were strong in Wall Streei
lay and showed advances FOR the
NJ There was considera bic excite
INT, however. among induStrials and
4f44cuiariy among the sugars and
Gotors. This was caused primarily
the trade war in the automobile
imp. selling on account Of which
eontinued.
Large blocks Of shares have been
09ed in the same hands that have
I'm holding sugar stocks on big
6nle. Liquidation OF the motors sug-
~otSd to some professionals a raid
~ the sugars. 1t wAs made with
Eoat success from two points of view
- raiders broke the price and the
o2ders got some cheap sugar stocks
yhofher the sugar incident IS closed
Dmains to he seen. hut in Cuban Cane
4ere was some hurried covering just
efore the end OF the session Sugar,
~ commodity, was 20 points lower
~ refined and 6 for raw-apparenS-
"a mere trading fluctuauon.
Weakness in Early Trading.
HMs Much weakness in the early trad
sEng developed in the general list as
- result of more bad news on wheat
nd oats. followed by sharp advances
2lm wheat and cotton. The advance
- price has been due as much 10 the
Europe as to the reduced supply,
zsEhe wheat crop is ample for even
more than normal railroad traffic.
ii St Paul reported a decrease in net
&ancome for June, which was due un
sdoubtedly 70 the new policy Of IN
s4Ans,ve internal development, hut the
sAtrees argued that with smaller
crop still greater reductions Of the
net might be expected. General busl-
mess in the Northwest Will more than
take up all the loss In wheat, With
REAnadan Pacific 1t is another ques-
es4ion, for that company depends more
on the wheat crop than any other
railroad and the crop in Its region
IL as bad as the spring wheat belt in
the United States. Canadian, how
ever, recovered after the midday
sweakness.
A false report that a White Star
liner had been sunk by the Germans
also hurt the market at midday. Of
13Ciai announcement in connection
with the Merchant Marine reorEani-
R8ation has been postponed until next
week. as several persons whose pres
sence is necessary are away. 1t has
been settled by the possibility of un
aaettlement the old bonds are 10 be
retired with 81 per cent in new bonds
Ind ~ per cent in cash
A Good Speculation.
sAg Inc CciApdN9 Iet EiAlN bpAEAL IclT
sships from the Pacific Mail for as
boo 900 1t has sold two of them for
~, 900, 600. and on that basis per ton
tho two remaining are worth 5000
600.
81 While the company officers do not
expect the war 10 last longer than next
1snmmer. they are already planning to
accommodate the heaviest tourist
traffic ever taken out of the United
States They believe everybody in the
United States with money and leisure
viii want 10 visit the battleheids as
@Eoon as peace is declared.
81 Europe will welcome the tourist
with his annual contribution Of $500 =
eco. 600, and this traffic. together with
the material for reconstruction, is
counted on for a continuation OF big
earnings BY January / there should
be money enough in the treasury to
pay all the back dividends
Liquidation that carried motors
down. some to new levels for, recent
weeks, was traced 10 stockholders
who disiilted some things done at the
time OF the proposed mergers,
The price war that has been in
augurated. and particularly Henry
Ford's contribution to it. is causing
much liquidation Of the stocks OF
companies that make low priced cars
There is no official announcement that
the outlines Of the Fora cars are 10
be changed. but reports that a new
style is to be put out BY the Ford
Company cause more CONSERVATION
than does change in prices.