Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-14
motor STOCKS UNDERGO
ANOTHER SINKING SPELL
professional Traders Attack Market,
and Prices Are Knocked
lef Down Rapidly.
I BEAR RAID Is IN SWING
Believed Spectators viii DO We'll
TO Hold On TO Their Securities. as
Higher Figures Seem Sure Be
4 cause of Heavy Earnings.
II, nnoADAN NALL.

VIC NEW YORK, July lH.-for very eN-
Z Ceelcnt and sufficient reasons. motor
stocks had another sinking spell to-
day. The rally that was planned on
Z the previous evening was successful
for half an hour stocks advanced an
average OF about q point in that time.
Professional traders, however. could
q not overlook the evident desire of
Il Willys-Ovcrlnud insiders to distribute
, stock on the big dividend announce.
ment TheN attacked TIE o manRS'; a q
3 points of the Ia per cont extra divi-
( dend from the price. The ~ regular
dividend was knocked of the previous
2. What happened to WHY'S Overland
q on the exchange and on the curb They
We're sold freely by professionals and
i investors. The public now beams !"
Z the motor list. The situation is be
z coming acute because so many brokers
on, being Inisled by the big earnings.
.4'rhere is no question about the big
s5s aI any more han mGre is about
Some extreme declines in motors to-
& day were IS in Maxwell. 81 III
@Studc baker rs in Chandler. ana ~
4 in Chevrolet
war stocks G also s" f; as no Gyi
Marine S in Alcohol, and ; ia in Beet
/ Sugar: Those, who hoped the MaNican
disappointed by Il break OF J Il points
in Mexican Petroleum and Is in
Smclters.
United States Steel yielded on COS;
would be declared n the next
I directors meeting. Wall Street feels
{ that the big men in the steel business
I now a ~ more anxious to cash in than
ITO see high records They are afraid
Advance Of the Bank of England
1ate TO 6 per cent Was accepted as
lea, where high money seems assured
by the determination Of bankers 10
1ed'scount privileges of the reserve
banks.
/, is unfortunate that, the banks
:,rc doing this a, a time when common
1umor is that they are anxious 10 &C
! Sumulatc high Grade, railroad stocEs
unfortunate accusations which per
Haps may not be true. The circun-
stantial evidence of a purpose IN the
( high money rates is complete. There
! is no excuse for i per cent money IN
!. America this year
Ncstors. who are sure that the market
has struck bottom. and have been per
$ The Street is in the peculiar situation
of being overcrowded with accounts
that snow very heavy losses, but which
sttll have very large margins.
announcement that the Greene-Can-
anea plans 10 open it's mines in Mexico
makes the street hopeful OF Il rally i'll
1eun!, SHELTERS, United states Smelling
s,:ih Southern Pacific have apparently
fully discounted a McNiCan war. None
of them has discounted Mexican peace.
Tho oil stocks OF MEXICO in particular
are fun of romantic possibilities IN the
event OF real peace being established
south OF the Flo Grandc. some Of the
old time professionals are acCumu-
iatirg those shares OH every break III
The market.
saNaD Street not one. with the exception
( Of Steel and Reading. could he de
scrhcd as high crade, established
security. TIC gllt-cdScd stocks were
drcd shares each The big business is
IN he stocks in which an attempt has
icen made to land the public Cnwisc
and sensational METHODS have been
adopted "a distribute these stocks, ana
HOW the harvest rs being reached IN Il
general collapse. Those stockholders
who have not taken advantage of the
many opportunities TO get their money
lack might well consider now the adj
Instability Of holding on, for the de-
CINE - developing lntu = protest. nH
raid, ana earnings are so large as TO
make II cute likely that when the
present bear campaign has been enoed
there VIII be much higher prices.
NEW YORK, July IS-Mercantile paper
(. Sterling: siNty day bills. Si125.. demand
sI.75 1l-lG. cables 81 80 7-l5. Bar silver. c-;s
Mexican dollars, is4,. Government bonds
STEADY; railroad bonds heavy Time loans
easier; sixty -nd ninety aa+s. 3i.Gi siNI
months iq4i.. can m!45T.. e.aiti ruling