Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-07
MEXICAN PETROLEUM.
HAS BRIGHT FUTURE
T0,000,0O0 Barrels of Oil in
Eight Years.
MOTORS AND sUMATRA MYSTIrY
Copper Companies Hope for More
Liberal Treatment by Government.
Stock Market Takes Vital Interest
+, In Weather.
nN nROAnAN VAL.


MEM YuKk. August cotton our
, nished the chief excitement in Wall
Stree, to-day, Ter it ranged more than
SIS bale between low and high, the
net advance being more than 81 Wall
Street understood that the same pluns-
C. who has been covering in cotton the
las; week while i; has advanced more
;han So a bale IS the same plunser
who * i!meS causes Wide movements
n The stock market General Motors
wen; Up ai-9 points. nearly. 10 its pre-
vious high record bui other stocks did
.t;!e,
MsNiesn pe;ro!eun''s annual repor,
verified forecasts OF low return. II
The year 1917, 2ga!Hs; 1875 per cent
fer Ihe year 1915, Rut the expenses
and depreciation increased more than
ss,ooo:oVV. and me depree!aiion account
VAS looked Upon hy MALI street IS
especially liberal. President = l.. Do
heny stated tina; the loss .; ships due
!.orn The company FOR government use.
ksc made the company earn Mt ,cas:
$4,000" less IN the last six months
o. 1911 than would have been earned
wNh use Q: those Sh!ps. He is very.
hopatul Tor The future. Readers OF
ihts column are familiar with the prog
Pan ana current earnings dc not FUR
MIS-: .tsE fair measure OF its value For
lh.,' "son the technically bad report
ous feature OF the Mextt.n Peiro.
!sun. Company that gives the cue %
Inc future IS THAT it, second lagses:
100000 barrels III the eight Years IL has
been producing ana !; j. sim produce
ms at usuAi volume This ! the best
Of ,he industry and gives some hint
As r. what may be expected cruu other
sreai NeAs on the property Il proves
me permanency OF MeNicau oil ticliS
GENERAL MOTORS AND
AMERICAN 81 MAiRN CoNNEREU
General Motors and American Suma-
ira are stu the ruling mysteries OF
The stock market Both are 10 GER
;ain extent cornered. the former ad-
mittediy 80. 1t was lending to-day AT
more than per cent premium. Suma-
ira was lending Nat.
Action OF the government in per
hitting the steel companies 10 make
such liberal profits gave hope 10 the
Stoc kholders Of copper companies that
they TOO would be treated more lio-
orally. For that reason price OF
~ = cents for copper was expected
as result of the conference in Wash
:ngton.
The weather has become vi,al in
aucnce in the stock market. 1t has
already sent cotton shyroSketinE S22 -
bale in the last week Corn is now
ton and the next two weeks viii make
or Kill the corn crop. Such high hopes
are paSed on corn tndt any serious
mishap TO that crop would react on
prices. Food Mil win the WAY in fact.
out IL is some consolation 10 know
that in central Europe the weather is
not right for crops. The hunger stone
IN the Elbe, which only shows IN famine
years, is visible. That means rainfall
mas been scant. knowing Tor certain
. that there has been drought in Ger
many. official reports that crops are III
good condition there may safely be
ignored SO even II there be a smaller
crop here than expected ii viii still lie
large enough 10 give to the allies the
superior position in regard TO food.
tntil crops are safe here the stock
market is likely to be very nervous
NEW YORK, August t--Mercaat.le paper.
four and SIX months. pc: cent STERLING
exchange. SILKY -da! bills. Si5--.: CONNER
siAl sixty day bills on Danns. 49,. com.
raercial sitxy-d-! bills. Sitl-. demand.
Sass, cables. s., SIS. Bar silver. 3:s, MeN.
lean dollars "a
Time loans strong six;y-Gays, pc cent.
ninety days. . per cent tho. SIX months o
pc: cent Nd CaH money strong. r..rg
.a.Ls "a ~ cen