Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-30
PRICES FOR STOCKS
SHOW SLIGHT GAINS
Bank Statement Is Not Materially
Changed From That of Pre-
vious Week.
MUNIT1oN ORDERS PLACED
announcement Is Made That Inter-
national Mercantile Marine Earned
About $33, 100000 Net in First
Six Months OF Present Year.
ny nROADAN wALI..

NEW YORK, July 29.-IriccS DRIFT
cd higher in Wall Street to-day. with
out important changes. except in one
or two munition stocks. In this the
market forccastcd the bank statement:
from that of the previous week. In
The actual statement surplus increased
Sl,160.950. loans s3,9S5.00o and dcpos-
It's s1.220,000. In the average state
ment surplus was Increased s..S37.43o.
loans s9.292.0O0 and deposits sS.3o6.-
coo. This statement is so nearly non
than that there was n Sigh, reduc.
ton in the volume OF professional
loans.
announcement was made of the
placing OF several important munition
orders Among the companies favor
ed are American Locomotive. Ameri-
can steel Foundries and the Babcock
e. Wilcox Company Westinghouse
Will get much of the accessory work
on these contracts. IT is es,imnted
that earnings on the contracts VIII b be-
beginning of the war. because me
American companies now are DONG
business they thoroughly understand.
There will. therefore. be lack OF inc
wasteful experimentation. all OF
which was at the expense OF the
Americans.
tIonal Mercantile Marine earned. In round
numbers. ;33 az, 900 net In tho first SIX months
ish war tax. fully s2i.oco.coo for the stock
holders. The juno earnings wer" Ss':""1''
therefore. 10 assume that tn. company will
earn ti0.oco.66o. caciusiv" OF war taxes. Tor
pref.rrsd s;ocS and almost coua, to The
accumulated dividends banker ident'hcd
sa, t , tn o that he sspsctcd the receiver
hip 70 , he l'tsH n SsT ,c,,%
"s' OF uSi0N rACIfIc HEARD
More discussion OF Union Pac!Gc's cond,-
lion was heard ,o.day. and among the re.
cash dividend. to be paid abou: tho end OF
on hs bn So, I ri to nsTe
An extra disbursement generally is
pectcd. but not more than per cent has
Buying OF steel was reported good. Tho
sseiinr persists thn, tho extra dividend h".
iul! per cent Is made mp for the common
Reduction in tho price OF gasoline by the
Texas Company has caused other producers
10 shave prices. This Is encouraging to tho
automobile manufacturers rnd unusual n
!or,s ar" being made 10 induce the public
10 on% automobil. stocks.
NEw YORK. July :, For all practical
rurposes to-day's session o. tho STOCK market
sH' Ma hsy' se|n ,r. 9ii%S RSans
even for midsummer we"k-cnd IN. total
were arrnos, ,no,ionicss. With some .rrs ECU.
lar changes. Pennsylvania. showing sigh,
Pacific and Atlantic Coast Line and points
.pt Buffalo. Rochester and pittsburgh
which recently increased its dividend rate
In point, o. activity and importance. In.
t'rnatiorHi bond issues constituted tho real
teatur" ~ IN" day. Anglo French IS changed
EanGs 10 the extent II almost 81. .GlC.tl
mostly a, cSi.. small concession ticn.r;,
news included several June statements Of
railway earnings, Canadian Pacific ,how!n:
nc, ingr"as" Of signify more than 81 go IN
anG norfolk and Western. $4,000 Drsl.
Inks in foreign hangc were in keeping.
win the dun stock msrk.t
l-oc.! bank conditions wrr" strengthened
~ . further small cash gain and increase in
reserves. but the clearing house statement,
lacked especial feature.
United States 5, md Panama as advanced
.. Panama 81, ~. ana United State. :,
L"tiinci !. per cent on call.
New YORK. july . Mcrc.n,ii. paper. (,
St.r!inS, siNty.d. bits. <t7li,. lena':r.
tia7. cables. $50. Bar silver. ga: Nexi.
SAn dollars. -" Government uOn.s. steady.
Railroad bonds. easier