Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-14
RAILROADS WERE STRONG
| IN TRADES ON EXCHANGE
Market las Whole Displayed Good
lone, Responding Only Slightly
TO War Ncws.
COTTON SECURITIES IRREGULAR
tobacco Issues Show Strength, Partl.
cuiarly American Sunatra and To-
Dacco Products, the Latter Selling
Up to Seventy-two.
ny nRoADAN WALL

NEW YORK, August 13.-Railroads
were strong again to-day In Wall
street.. and the fact that they could
au'ance on two consecutive days
eneeIed traders mlgh,ny. They re-
az slightly In the afternoon. as did
al other stocks OH protit-taklng. The
arket as whole displayed good
zone: although it did not respond as
s hu1h az some bankers thought 1t
mahlng up to the Importance OF the
news from Russia, which many OF
, ,hhem think Is more important than
breaking and recovering sharply. Corn
Jews waS not good, but seemed to have
oeeh discounted.
lnterboro Consolidated, both common
ana preferred, were weak throughout
.he day. and IT was suggested that
Were might be news In regard to the
company shortly. In common with all
other traction lines Of the United
States this company is suffering from
IShe high cost of operation. It's case
WIN the public, is preiudiced from
the fact that such large bonuses were
given TO operating officials.
Tobacco issues were strong. particu-
lar!y American Sumatra and Tobacco
products. the latter selling up to r.
sorption of Cigar Stores. apparently
Tor new interests.
UTAH COPPER EARNINGS
SHOW - PER SHARE
Utah Copper in its report for the
second quarter OF 1913 showed earn
inss of 81 share, compared with $3.50
share for the same quarter last year.
But as explained before in this column
the earnings this year are real ones
Some OF the companies are writing on
moro than that they are SO afraid OF
making boastful statement to the tax
Coal shares wer. strong. particular
~ Pittsburgh and West Virginia. There
was an advance OF point in each class
OF the stock and renewal of the talk
OF segregation OF assets.
Among the railroads, st Paul and
New Haven attracted particular atten-
ton. although Union Pacific was the
unquestioned leater: 1t was an
nounced that a conference would be
held tomorrow between Dircctor-Gen-
eral McAdoo and representatives Of
cially that an agreement has been
reached between the committee on con-
troll for the government and the man
ayers OF the roads. hereby weak roads
are not TO be built up by the govern
inent at the expense OF the strong sys-
FONTS OF VARIOUS LINES
ARE GIVEN CONSIDERATION
This seems an unreasonable agree
ment to make because systems like
the Erie. which Is the logical freight
needs only. proper financing TO make
it the equal OF the Pennsylvania. Mis-
souri, Pacific was said by the late l..
II. Hartman to be as good road as
Union Pacific except for the fact that
Il. II. Hartman happened TO take
Union Pacific to develop He always
claimed that he could have made the
Missouri Pacific the great road just as
well as Union and Missouri Pacinc
stockholders nave been hoping tnat
the government would prove the truth
of Harrimans statement. -
InAsmuch as there is little chance for
the roads ever returning to private
ownership again. and as the price to
The government would tie based on the
value Of the roads now, the agreement
reported TO have made does not seem
necessary for the protection OF stock
holders.
Logical development of the railroads
! cannot help but leave the present
strong systems in relatively weaker
situation. But It should not injure
them In the least. The country Is big
enough to make all the railroads sue
cessfuL
NEW YORK. August 13.-Mercantie paper.
four and six months, per cent; sterling
exchange. aiIty-day bills. 1t7s; commercial
s-2xty-day bills on banks. :E2S.: commercial
s,ity day bills. N'2t7: demand. .tIs: vables
Government bonds easy. Time loans strong :.
per cent bid. Call money strong. ruling