Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-12-11
many LEADING ISSUES
St@
SHOW MATERIAL GAINS
Strength i'm the Stock Market Con
tinucd Up to thci Closing
Hour.
SHORTS ALI RUN TO COVER
Statement by Judge Gar" Causes
United States Steel Securities 20
Rcvive-Coppcr Situation Is Also
Showing Improvement.

-'"~N NEW YORK, December io.-Strensi III
IN the stock market continued up to
issues showing material ne; gains.
Much of the buying was due to short
covering, but the short covering WAS
not so important as the reason for it.
The reason was that the pcSSimSts
: who had been strongly supported by
\ the money committee found that ac-
s live business men OF the country were
: really optimsts.
~ the steel situation opened the pub
lies eyes. Tie spirit OF the American
y business men that had been dropping
the persistent campaign of
friehtfulncss inauguratcd 10y the bank
Il crs revived under the influence of the
Gary statement In the light of what
:, may be done III regard Ia steel the
coppcr situation did not look so bad.
Even the railroads paid attention while
the tohaccos and sugars were really
Even Liberty bonds were stronger
aud for the first time in several ses-
~ SionS there was net advance for the
day Liberty bondholdcrs have been
am ,ns the worst sufferers from the
depressing tactics of the money com
p mt &C. In addition 10 the optimistic
statements OF the steel people the mar
ket was influenced quite materially by
simplify handling of securities. 1t is
+ posS bic that new banking insitu-
4 ton may be established to serve brok-
J3idea would he to have brokers file their
SEA tcNcntS with ii Very much as they
SHOW file them with the clearing house
~Sahd to have loans made for the sur
asp.uScs oil purchases over sales and not
,nfaor The entire purchases as is done
under the present archaic system.
- NElLLt:D steel. ORDERS
~ DECREASE ONLY 22S.Gl0 TONE
6s5 Decrease OF 22S.630 tons in untitled
! orders on the books o: the steel cor
h lporaiion was smaller than expected.
nui was OF no consequence anyhow
What the world needs in the shape oC
steel is not recorded on any books
+ for the reason that consumers knew
iicN could get no steel and therefore
uiu not take the trouble 10 place their
orders. The volume of the demand is
known only in general terms, but those
most familiar with the industry say
That it cannot be filled in less than
Two years If all plants work at full
Il, icSpaciiy. The plan OF letting the prices
';town in an orderly fashion will induce
& early buying
undcr leadership OF Tobacco Prod
ucts. which closed to-day ut tho high
whole tobacco list WIS firm. The war
SShas changed conditions materially in
e regard to this industry and some very
q Important extensions are being planned
ny me leading companies. American
cigarettes arc very popular in Eu-
tt-l"pe and the returning soldiers OF this
Jycountry are not expected 10 lose their
taste for them.
NEW YORK. December lO.-Mcrcaut!lc
haprr' g. Sterling sNiy-day bills. sI73i.:
commercial sixty-day bills. si7aI.; demand
7a stole Cables, A.7G. ~ Government bonds
'sy railroad bonds steady, Zine loans
3 A"onins, bid. eau money easier; rulnGs
b rae. ~. Bank acCcptanccs A.. nor cent