Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-12-11
MARKET CLOSES WEAK
AT TER DULL TRADING
Tobacco Stocks Break on Report OF
Large, New Stock Issue by
American.
NIHGINIA-CAROLINA ALSO LOW
Storm Affects Rails, New York Cen
trail Breaking Mare Than Point.
Pacific Mail Surprises With Extra
Dividend.

NUW IVTN. i7rNCNIUCT TV.'--sS
closed weak to-day after a day OF SINAI
trading. hu, considerable" irrcSu;arity
in prize movements. Tobacco shares
were the feature OF ,hc day. Aincrican,
Loriliard and LisSctt & Myers break
ing 10 low records. EuEnS BrothcrS
also broke badly as did Virginia Caro-
lima Chemical aud Atlantis coast Line
Ccpp"rS aud motors were firm.
70 Weakness Of tho Tobacco stocks was
duo ~ "ricial announcement that
American Tobacco was planning an is
suc OF $50 00o. "oo o. more Of new stock
That iSSuc broke - L.. points. Liz
Sc:t & Myers :: ana i.or'''ard H. -
hacco wants som" money carly next
YEAR 10 help carry stocks Of raw ma
'cyal which nov cost three times INC
normal price. The sans condition must
exist in all tobacco companies, ana
therefore sympathetic weakness is 10
lie expected in the stocks.
New York central declined more man
point on announcement tha; the
storm, had tied up the city OF Eunaio.
Because "f the snow aud the Ecr-
orally stormy. weather ~ the N@r,h,
Canadian Pacific sold by a crour
ri nimbl" traders who have been art
bilious for years To make some inohe%
on tho short side o. ,hs' stock an; and
estate assets back OF Canadian iac;i! /,
The stock has 4 way o, upsc!tinS Inc
shorts. Viewed as an inves'm NJ is
too high. and the professional traders
arc worried because II viii not come
down To the Union Pacific level.
Pacific Mail took most OF the Street
10y surprise with Il declaration OF am
extra dividend Of $3.50 4 share The
stock advanced just that much.
SPECTATORS FAIL
rO HURT BETHLEHEM
An atten,rt 10 make capital out Of
bethlehem Steers request foi financial
aid from the government rallied once
moro. for the smpie reason ,nat ~ mas
nlaced It's last contracts that such
financing would be needed. Other corr.
ranies mus, from time 20 time maize
'' SIanufacturers report ;ha. whole
salers are not paying as promptly as a
few mouths age. In the t"nac.o 'Iaue
firms that used to Pas III twenty days
now want thirt!. and 30 OF through ne
list. This means greater ,."!nand 10Y
capital and accounts pr '"i .,e
With proper use Of tlA l"d.'i reserve
ia nix. however. " per cent sAouid pc
the deah'!me. ne pr!'" o. m"Hs| j.
one price that tn" governments posi-
Conferences a.. washington in con
uec;ion with Steel and ropnef prtHe%
mice might be Increased, but that steel
would probably remain where i; is.
Railroad men have nos had '!me 20
express themselves in regard t? ne
uropositiou OF COVER men; control: and
q a hody they are against u. ne!
arc against Il with pirate ownership
-,ycs on eoysrnrlcNt ownership. tach
railroad man disN"cs 10 be we MS
ono 70 60 on record. bat privatsl| MGar-
~ al, oc them believe i is Impossible
10 avert public owner 'A.?
NEW YORK. pece'nhcr 10 -Me:ysH:.;s
.fx;y.day hills. st7li.: commercial SIKH
day bills on bnn;s. ii;l: ;omfnerri.tl siI,ii,H-
SIS SIG Bar silver. &aI: Nc%ican doi.ars;
- Government bonds; Irregular: rahTosd
bonds weak Time loans. strong: St%tN
qa,: ninety days; and sX months. ~. can
i,..cy. strong: ruling rate.