Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-07-31
SEVERAL ACTIVE ISSUES
ARE DOWN TWO POINTS
Expect General Motors to Issue New
, Stock i'm Exchange for
Chevrolet.
HIGHER GAS RATES ARE FINED
Cotton Was About 81 "A Bale higher
for Old Crop, AMI Price of Corn
Also SuarS--Pro- Germans Launch
Peace Talk.
HA nnnAnN. WI.

NEW YORK. JAY %o--AliNrUEb
Mali Street expected tho United states
Steel directors to declare the usual
selling r'G of the stock all day This IN
ilrenced other ISSUES with the result
that in the afternoon scvcra! active
issues wcre down as much "a, Two
points from the, high prices Of me
morning General Motors was heavy
ano with god speculative reason, ior
II is now expected that the new stock
Will he issued III exchange Tor th"NFp-
favorr Of a hiighcsr eaS rate Ion INC
BROOKLYN Union Gas Company resulted
in an advance OF more than three points
solidated Gas. Cotton was about -
bale higher FOR old crop and corn Was
War news was good but not 50 en-
thusiastic a for some days. The pro-
Germans We're CIRCULATING peace talk
victory slump H. prices. Resistance Of
the Germans was 'vnEsi HortA OF the
Marine. Rumora ;hat TURKEY might
deser; 20 central powers were not taken
Bankers insisted that tho worst has
been seen in the money market and
that no obstacles would be placed III
the path of any one desiring TO b.
reasonably optimistic in stochs.
BEST INFORMED INVESTOR.
SELL ST. Paul. SHARES
Most OF the session was taken up III
small talk about particular stocks. 1T
is known that some -: the best in
t g, bed, INVESTORS have sola o9i iheir
on the preferred this year on opera
tor of Importance. is short Of II. liut
in spite of that the Street WAS full OF
reports that a new pool hal been
formed 10 advance the preferred 10 par
and me common con, to si%ty II So the
terest.
Genera! Motors a, 1879 TO-DAY Was
record price OF last Friday. Premiums
are not being cxactcd on tho SOCK.
In the tobaccos there was NOW hiih
declined. j. is the anparcnt desire 81
tobacco insiders TO hold their stocks
American Telephone sold a, 81 ii,
which is the lowest price touch since
the panic of 1907.
ACKNOWLEDGEMENTS
STOCK Is ACTIVE
Among spectalties that showed vital
ity in the early part of the session was
Virginia Carolina Chemical and Savage
Arms S we'll as Hide and Leather and
Mexican | etroleum. Tn" last named
was among the first 10 weaken. and il
did so following what looked like Il
serious attempt TO cove: ~ good soil
sponded TO the report .: >" per cent
earned in the last fiscal yea: as com
pared with 1852 per cent the previous
In addition to declaring the regular
dixidt nd, OF ! II pei, cent on steel
grea, corporation reported record
breaking earnings for tho quarter. Tho
Total not earned amounted 10 $l5S,gTa.-
Gal. out OF this $H,Il6.2J0 was sct
aside for war taxes for the quarter.
leaving S62.55',Ssl to he carried TO net
IN the usua. Nay. This is more lhan
enough 10 justify continuance of the
II per cent dividend rate. IN view of
me large short interest in steel and
Inc important accumulation of the
STOCK that has been going on for weeks
lor the accounts OF insiders to-daN'S AZ :
nouncement should have n be.icugial
influence on The stock market.
NEW YORK. July So-McrcantUe paper.
-FOUR months, per cent. sin months = rcr
cent. Sterling sixiy-day bills Si.5gia. CONE
merciai siNiy-Gay bills banks 81 r: COM
mercial siNty-day bills. say, demand.
S.'o .; cables. SisSi, Bar silyes. g,s. Mex
Time loans strong, sixty days F., pe. Gem,