Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-28
COTTON HAS WILD DAY
ON NEW YORK MARKET
City Of Paris Bonds Make Another
High Price, Going to
Nincty-Four.
MARINE STOCKS ARE BOUGHT
Visit of British Director i'm Financial
District Causes Liberal Buying
Among the Army OF Spectators
With Report of Any Kind.
ny BHoADAN WALL.

NE" 1ORh. august -''--Sbo'Ns
were active again to-day. but after
early high prices they sold Off In most
departments Of the market. although
the undertone was strong 10 the end
of the day. Cotton had another one OF
its wild advances, goins an extreme
OF about 81 a bale. retaining about
$3.50 of it, Lire had most sensation
al advance OF from $50 10 6.35.
City of Paris bonds mace another
high price. They have movec from s.
to "a since the German offensive Dc
gan III July.
spectators. and these were disappoint-
after the market closed. that he haH
nothing to report regarding the deal
for transfer OF ships TO British syn
dictate. Presence in tho city OF Brit
ism Director Sanderson. of the com
pany, caused the buying that closed
the stock al its high prices. Bonds or
" the company also enjoyed sharp ad-
vance
The advance of Lire came as re-
suit of the stabillzing action or the
been srowtng stronger ever since this
influence began TO be exerted. when
was when they sold at aoout s.l3 To-
ever recorded for 4 single day, and goes
far toward putting. Italian exchange
back 10 its normal basis OF Sis. The
war work OF the Italians is helping this
movement.
war news was good to-day from
market standpoint and buying from
abroad is being noted in several stocks.
GENERAL MOTORS VOTES
TO INCREASE IT'S COMMON
Announcement that General Motors
stockholders had voted Tor the proposed
increase OF common stock from $50
100000 TO s2ee,e3G9G0 and 81 inc 5eo p pre-
led some traders 10 believe the cor
ner was ended. For rev tn:nutes the
stock which closed the day before Al
quoted as offered at $50. oui the neNt
sale was a, l5i l-2, where il closed. II
stands 20 reason that most OF the shorts
must have been forced 10 cover. ou,
there is no tangible evidence ;0at those
still holding out Will De permitted 10
escape. An interesting feature OF the
General Motors meeting was 4 &C.
cision TO distribute 10 per cent OF nes
earnings among wo-kmer.
CONGRESSIONAL ACTION
MAKES DISTlLLERS BOOM
Granting OF lie 10 WHISKY until July
on January !. gave strength TO Disti.--
ers. as so much more time VIII be al
lowed 20 iiquidate its STOCKS n storage.
The company is not dependent on whis-
Ky for dividends and large cash div,-
dend Will be declared when Booze nna'-
ly goes
Steel Railway Steel Springs and Amer;-
can Steel Foundries and Worthington
Pump were looked on as matters Of
course.
The break of points n Gulf States
Steel was explained b. the temporary
falling off in earnings.
The absorption OF United Cigar Stores
and Tobacco Products by investors con-
tinues since speculation in those shares
has been cut down 10 almost nothing
NEW YORK. August g1.-Mercan,iie paper,
per cent. Sterling s!rty-day bills. $4T1h
commercial sixtyday bills on banks, st!2s.;
commercial s:Ity-day oils. ii7ia demand,
H.Ti1: cables. Si15.t". Mexican dollars, IS.
Time loans strong: sixty days. ninety days
and six months. per cent Cal! money
strong; ruling rate, per cent