The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-12-11
TOBACCO STOCKS SLUMP
DUE TO new ISSUE
Anssrican Tct~cco Company Pians 10
Ratse Fifty Millions TO Help
Carry Raw Material.
HRsrNIA.cARollNA Is DOWN
Ana Atlantic Coast Lane Joins in Re-
Observation-Disclosures steel Asks TOW
eminent Aid In Carving Contracts
woney GOES Up TO slx Per Cs@'''
nv sRoADAN WALL

Nsu York, Dec, lV.--SN"NA0
weak today after a day of smaiI uaa-
ing but. considerable lrresui"I NY a.
,rsrs movements. Tobacco SHARES
were the feature OF the day AneYl.
AN rortuard and Lisgett and Myers
s-asr1ny r. low records, Burns
arothers also broke badly. IS did VIZ
iris carolina Chemical ard Atsan'N
f'oan. line. Coppers and motors were
1rm, -. .,o-l.
--px Sus To the cfacial announcement
Nat American Tobacco was planning
an issue Of $50. geo, 900 or more o.
tex stock. That issue broke - -
points IAgHett and Myers 70. an"
l,orillard Is. all closing at the bottom
American Tobacco wants some ino'leE
ssrly next wear 20 help carry 80
= vsw material which now cost ihree
lines the normal price. The same
so-6tt}ou must exist IN all tobacco
ior7,ao tes and therefore sympatheHc
,vsskuess Is to be expected IN '1e
ssceks
Nev York Central declined more
sbsr point on Announcement tAat we
-4o-r-g had ;isd Up the city 81 tUH +" ~.
Because q the snos ana the ger
4~eWv stormy yea he 10. the NV''"
tszas4{su Pacific vas feld by a group
= rtr5anse traders who have been ana
st.icus fo- .esrs 70 make some money
49, u. orr side ot that stock and
ear r. Because OF the great Feai
~ts7n assets bark or Canadian RACINE
- stock hss way ., upSettirg me
@avry viewed as an investment -
- Canadian Pae.0o IS about }Neh'g
-~st~.s xro high Ead the pEoiessloF4ai
raiders are worried because II VIII
-ses come down To the Union racine
ste a...
Fac.ae MAJ took u3sf 81 the street
sv surpr.se With ;he declaration q an
xsrz dividend - sac share Inc
soch advance. Just that much'
An etfsfcr3 fo make cspltal out q
zeth feYtes1 Stee}s re4uesJ for fpa9 p
,at afd from the government failed
nee n1e-e sor the simple reason That
> has beer known since the govern
r.~7t placed It's last contracts that
slch ansnciag would he needed.
Other com psnies must from time 20
ire make tire same request
Manufacturer. report that whole
s4le~e are not paying ~ promptly as
Few months ago In the lobacco
rade firms that used - Tpy IN twenty
avs now want thirtv aud 81 on
through the list The means great
u demand fer capital and accounts
partly tor the advance Of money to
per cent today With proper use
IF the Federal Reserve banK, how
svar. 6 per cent should be the dead
the. The price Of money is one price
hat the government positively car
ontroj
Conferences al Waahlngto IT con,
steel Gas19s-fsf'eF
lreusht out reports thnt the copper
,rice might De increased. but tina
Is eel would probably remain where !
).
Railroad uea have now had tim
. express themselves in regard 10 tn
proposition OF government control an
~ a body they are against IT, The
IRE against II with private ownershi
ut take care not TO express them
elves on government ownership
Zach railroad mar diSlikes 60 be tn
trst one TO go on record, but privatel
early all Of them believe 1t is i'm
lo@sible 10 avert public ownership,