Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-09
WAR AND WEATHER NEWS
GIVE MARKET STRONG TONE
Few Issues Make Net Gains for the
Day. hut Chief Improvement
Lies i'm Sentiment.
L. S. STEEL AGAIN FEATURE
Tobacco Shares Arc Strong, and the
Motor Interests Arc Not Inspired
by the Announcement Production
l. to IL tuytailcd.
~ uRnAilAA VAL.

MEM YORK. AUGUST war and
strong UNDERGONE to-day. but owing
TO the slight Attendance on the cN-
change, there was little change III
for the day. but the chief improNene
was In sentiment |. :. steel is act
ins so well tina; Il iS attracting spec
ulattve following again. investors nave
The speculative buying shows that
some Keen observers are LOOKING Tor
n RESUMPTION Of the rise soon.
tobacco stocks were all strong, and
the motors were not in5 red by the an
nouncemeut that passenger cAF pro
duct;on is to be curiaiied 'V per cent
*. Liberty IA bonds went to another
new low record French bonds con-
''' Cotton VAS Mas strong Tho crop report
ANNOUNCEMENT, of the rsGular dtvi.
sion In the price Of that stock, but
only temporarily. for tho money is be-
ing used 10 retire all bonds
Wilson declined mo q than points
on small transactions. probably rs the
rcsui: OF the proposal that ;hc. gov
eminent take over the packing INDUS
Try. Baldwin WAS strong.
ALARMS THE SHORTS
The change OF plans 10y American
suma,ra directors alarmed shorts in
tha, stock to S.,N an extent that tho
price was rushed up nearly points
IN the carly trading. !; lost mat sAi!
I'roducts and u:,ited C.gar stores adj
vanced them NOR. inan point each.
Ali copper stocks We're firm in spite
o. the announce disappointmcnt over
refusal Of the government; - advance
the price Of the metal beyond - cents.
1'ne governments reason IS acsePjed as
a perfectly prone" ono. There - eNouE II
copper being produced nov by proper
ties that can be oncrateG with a profit
AT 20 cents. y :r'' cents more might
bring into productc" ol-er mines nui
they could not compete undo: normal
conditions. and ,hcy could not prodEce
enough even now 10 make materit.
contribution to metal stocks
Little stockholders OF tile copper
companies I'd s!Tc themselves no
concern over business or worry about
the inside interests being displeasod.
The copper companies are making Very
liberia! profits under present conditions
and when the Y ~ i over the world
shortage Of copper taken in connection
with the lower wages that VIII then
prevail. vii! continue tho good earnings
for several years 1t least. Under mod
ern condition use of tremendous guam
titles of steel, such as ever" one adj
mits Will tie needed for industrial puv-
poses. neCcssal ~ forces M uS' 81
correspondents quantities OF coppcr
The future OF tn" corn,r s'ock urcsl-
ments is bound up IN ;hc :ur"re steel
REDUCTION IL ORn!anEE
~ tu'rn rEpEl cV:nN
The stock market Is nov compelled
definitely to appr2tsc Two important
Industrial faCts. One the reduction
nf passenger 'uJomoh!Le pVtuul and
the other Is the Compirlc Establishment
A, the liquor iudp' -ry. Action Of stocks:
affected leads tho casual observer Ia
Say that these things hay: :.Iready beet.
discounted they E..e nv. Tho rea
son they have rc; l. that j., ord.t ~
discount what IS going Oh ;. hose Two
Industries the stocks inve:vcd ,rist
lave very sharp advances from &c
present prices This is not pnrado-:-
cal. With the single exception OF
American Malt, all the .!toCkS involved
viii be better OF for the change
Even Malt stockholders will tie re
iieved OF their Improbable enterprise.
Ind will have cash for the preferred
nock equal 10 more than its present
market price.