Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-06-06
NEW RECORDS ARE MADE
IN WALL STREET MARKET
Public Buys Freely, and When Trad
Ing Ends There Was Not a Cloud
on the Horizon.
ToBACCos SELL RAPIDLY
Oil Activities Are Materially Aided
by Notice From District-Attorney's
Office Directed Against Swindling
Concerns-Othcr Shares Respond.
nY unoADAN WALL.

NEW YORK. July 5.-fiacing by the
GENERAL Motors Corporation Of an
order for $4,000 tons OF steel, taken
~ connection with general improve
lnent OF business In steel and other
lines of business, gave the stock mar
ket another buoyant session today.
New high records were numerous. and
there was no attempt on the part OF the
bankers 10 cheek trading. The public
bought freely. and when the day closed
there was not cloud in the financial
SKY. Net gains for the day were ma
terial Motors occupied prominent
place, but the activity was scattered
throughout The whole list. Tubaccos
responded to the announcement OK ad
dit!onai rights TO Iooacco Products
the activities OF the district attorneys
ONCE against swinGi!ng concerns. Rood
shares. coppers and even the rails re-
Spoaucu 10 tho better feeling.
SO heavy has the business OF the
street become mat the suggestion that
trading be suspended on Saturdays
during July End august tool. the form
o! u regular petition that WAS cirru-
lated on the floor or the exchange.
Money Quoted mt Per Cent.
Money vas quoted at per cent all
protests of business men. who 40 not
want patcrnaiis:n IN the stock mnrkc,
eng more tnan they want 1t in the
General Motors was the star per-
former OF The day. The mana cement
81 tho company was highly compli
pronounced stand in regard TO steel
'!hc automobile Industry is at present
more truly representative Of Ameri
can business than are the railroads
Now that the deadlock has been broken
by the bold action OF President Durant,
ot the motor company, II is believed
1hat there viii DC rush for steel.
Shares of the United States Steel Cor
poFation Participated in the upward
movement ana every independent
Joined The short interest in steel
street. as SO many holders OF other
STOCKS haze sold IL rs hedge.
VIII Distribute stock.
Tile advance OF tobacco shares was
due to t!e decision OF the Tobacco Pro
ducts Corporation TO distribute stock
ot IT'S subsidiary. The Tobacco Products
Export Corpora ton.
What made this so bulllsh on all
tonacco STOCKS 10 that the Tobacco
p i, u, EHpert Corporation is organ
Poinerene Law, which permits IL TO
make combinations with other tobacco
companies FOR the export Of tobacco,
ana its production here for that pur-
nose. LorilIard. General Cigars Su-
!natra aud Consolidated Cigars moved
in sympathy
Ice stocks Go Up.
Soth common and preferred stock of
Inc american Ice Company made new
higher records on public buying today
minneapolis and 81. Louis Responded
10 rumor that the ST. Paul wanted IL
Tor terminal reasons.
sugar saarcs Continued their effort Ia
discount the remarkable condition in
the trade. Misguided sugar men are
Trying 10 deceive the public with state
ments that a shortage may develop in
the commodity. There is super
abundance. and the talk Of a shortage
is Tor the purpose of holding UP prices.