Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-11-22
TOBACCO SHARES STRONG
ON WALL Street MARKET
Big Companies Plan Expansion nf
& Foreign business With Return
OF Peaceful Conditions.
RAILROAD ISSUES REMAIN dull.
Nervousness Exists Over Possibility
34f OF Cove nmcnt Owncrship-Stock>
Now Largely Held 10y General
Public.
ny nnoApA> WALL.

NEW YORK. November Stocl:s
closed heavy to-day after a day a!
great irrcgularity. in which Mcrcan-
tile Marine. preferred. distinguished IL.
self with a bad break. Cnscttlcmert
or that stock brought ont more of 4
few spccialties Maxwell. second pre-
TERED. continued heavy. tu; the buy
(. ing OF motor stocks in general was
: most excellent. Copper stocks all
showed signs OF weakness OF rumor:
chat an important sale Of the metal
had been made materially under the
war price. Tohaccos were tho strong
feature Of the day under influence OF
10 per cent stock dividend declared
by Tobacco Products emitted states
Steel showed great strength In the
carly trading. but los, it in The after
room and closed heavy It was the
action of this stock that influenced the
whole list iii the fiAal trading.
Money was still under strict restraint.
Tobacco stocks attracted most at
,ention because it WAS in them Chat
made its appearance. The dividend on
Tobacco Products is part OF a read
justmcni. bringing capitalization Of til"
company 10 a level Tor developments
tfat Will h" made public in tn" near
failure. Tobacco business is extremely
prosperous. and. in the belief of scau-
ing Interests in it. this prosperity will
increase rather than decrease dUriue
the reconstruction period Foreign
business is To he Son. after by Amer
lean companies on u scale 'icVer be-
fore attempted.
Adjournment Of Congress and sar-
render OF the German ,icet had no ~
tee; upon the market. because both had
been expected.
Railroads did not respond to tho on
rciient earning reports OF september
for the simple reason that WALL street
IS not sure that they Will ever hc re-
leased from government control. This
subject WAS brought up by th" intro.
ductoin yesterday of bill by Uuitcd
states senator Lewis. providing for the
purchase by the government Of an rail-
roads. telegraph and telephone lines
and All coal properties. High uuauCc
fears that the government is undertake
ing too mitch all At once in this mat
ter
II would be interesting to know OK
actly who owns tho railroads for
Judging from market movements in the
paSt year former insiders must have
inc general public almost as completely
as II there were government ownership.
y feature of the day was strength OF
small companies whose earnings are
known TO be large. There will he am
nounccmcnts Of Importance in cunncc-
iion, with Kelly Springfield. Corn
PRODUCTS, VirGini; Carolina Chemical.
ltumlcy and others OF that class
Charles NJ. Schwab is understood to
have a plan for utilizing AT great protii
on l'cacc work the Increased capacity
OF bethlehem plants. This viii he done
as soon AS tho government contracts
can be gotten out of the way 1t was
Tor this reason that the STOCK was
strong to-day.
p.rcr. 6 Sterling stNiy day bni%. sis sSs,
,",nmsrst.i s.AtH. bills on b.uNs. sL'.a.:
*''".j; cables. A;C.i5. Government nonIs
, Isdy; railroad bonds .rresuIar Time loans
months, > bid. can money strong: rulInl