The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-03
II CUT PRICES
Z MOTORS NERVOUS
AND COTTON BOOM
0oR Crop Out-turns Fcrccastesi
eoes Of Both Staples Rise Radi-
yTohacco Companies Plan 60
o11ah Coupons.
nv RRnAnAN wAILl

wwW York, Aug. Motors had
Mther sinking spell today on the
Nc explanation that poor crops
Nd make it impossible TO buy so
NY ~ in the past year. but the
"a reason was that the Ford an
Unacemens Of cheaper car had
4~htened the whole fraternity. Breaks
HE from to 13 points were recorded
the motor list.
A. the men active in motors have
9an prominent in other depart
nnts OF the market this liquidation
HEkxurAiiy unsettled the whole list A
xMYW otoc8s stood UP against IL in the
ax1y trading. but nearly all yielded
AowAr1s the close. Among the strong
Du0e were Union Pacific. United Ct-
snnx Etores and the stocks OF railroad
There were good reasons tn each
CnAe
News Bad ON Grain.
News on grain was distinctly rad
md came on top OF a. situation al
ready serious. Last week experts
were estimating this years wheat
crop NJ 700, Goes bushels. Now they
are inclined to reduce the estimate
10 about $3.50, 600, 600. with that also
SEanada's crop Is reduced. Wheat ad-
s-anced cents a bushel today, max
1nb about 10 cents in the last few
days Cotton advanced TO new high
Qxures for the movement
9s Although students of conditions
q know that even with the smaller
crops this year there will be enough
4o give the railroads more than the
normal traffic and enough to enable
the farmers TO buy freely all the au-
skomobsles they want, there is no de-
ay4ng the fact that such reports are
likely 20 influence thousands OF per-
sons In their stock transactions
Munitions Profits Disappointing.
This influence is douhly important
Just now when there Ia so much dis
5oppointrent over the profits OF war
business. Side lights thrown by ac-
cident on inside figures here and there
do not encourage buying OF the mu-
mitions. This influence was also do
n nx its work in today's market News
regarding crurfhie is awaited with
considerable Interest.
ME- To Abolish Tobacco Coupons.
'sa Among the reports of today was
&ne that the various tobacco COM
3s3SAnfes had agreed 10 abolish coupons
And gift enterprises. This report
FSAn Responsible for an advance across
$141 of United Cigar stores. No official
&cnArmation could be obtained as II
SS&a said the tobacco people wanted
'ss3n nee congress adjourned before an
A0unctng their plan. The report
N eomes from responsible quarter,
Guch action would add several mil
lien dollars to the net earnings OF Q
II Number OF tobacco companies
Railroads Net Increase large
0fhcial railroad reports for jun
made public by the Interstate Com
III 5gAerce Commission show an increas
Of $lol mile in net earnings a
u compared with June OF last year. tn
IN net for this year being sass a mile
me- country as a whole paid the rail
&&AAS 3l04,S3s.e24 gross in June, com
HI 3red with sss.252,924 in June o
Il 14st year
Another batch OF war orders wa
a eepcrted under discussion between
2hA allies and American producers
Westinghouse was said to he hgurin;
m the most important OF these.
81 Steel business is improving and tn
~ companies thatAwere considering
- reduction an prices are aband ontni
As1nch thoughts. The outlook for
Hgood steel business seems assured 70
2xa0yeral years.