Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-06-13
INCOME TAX PAYMENTS
CAUSES HEAVY BORROWING
Actual Buoyancy Is Seen in Several
departments With Many New
High Records.
FOOD STOCKS ARE PROMINENT
electric Storage Battery New Sc
curity Offered and Makes an Adj
vance of Ten Points OH Report
Large Orders Have Been Obtained.
~ BR0ADAN WALL.

NEW YORK, June l2.-Although the
STOCK market was under the influence
To-Day OF heavy borrowing on account
oi income TAX payments which are due
SATURDAY, and although brokers wirne,I
customers TO be conservative. actual
nuoHancy was seen in several depart
ments. with many ne" high records
made. Tobacco stocks were prominent
Inroughout the session. the Whclan-
luxe luxe GROUP goinS to prices never be.
STOCKS were also prominent. and some
OF on me automobile shares were we'll
newcomer in public favor. advancing
more than 10 points.
The reserve board intimatcs that il
VIII issue = Statement, regarding
it very seriously Technical conditions
OF the market are "a tribe strained
ana Tor that reason stocks wer. lower
IN the hrst trading.
Obtain big Batter, order.
Report from Philadelphia SAYS that
General Motors Will use the output Of
the electric storage battery In all it's
low priced cars, hu, there is no oiti-
cial announcement of this. Stock OF
General Motors itself was heavy. as
though brokers were playing for :,
s sn interest Studebakcr was com
bought one Of THO Siudebakcr factories
In Detroit. and that leads to "A belief
mat the whole automobile department
OF the company may he taken over
chandler made a high record after an
advance of more than three points
keiiyispr!ngfeld advanced also
Buying of American Car and Foun-
stock
National Biscuits advance TO new
nigh record is probably due TO the fac;
that the government taught all baking
companies the art of substitution
Watching the Corn Crop.
I. will be we'll for Wall Street 70
Ho aseA too the ws sHrn rTop Corn
It's critical stage.
The upward swing in United Cigar
Stores. WHICH carried the stock to levels
unheard Of before. was almos, dppii-
Gated in the advance of the United
Retail Stores Corporation stock on the
curb. The fact that olga, stores sold
roughly about double the price of Retail
Stores persuaded the stree; that the
former is TO be taken IN the new
Of the new for one Of the old stock
General Cigars advanced TO - new
high record. and the street remembered
that the Whelan Interests have been
friendly to it recently But American
Tobacco also made new high price.
and there is no rumor OF il being az
Many Of these tobacco stocks are prob
ably going up for the very simple rca-
son that their war profits have never
been appreciated by investors.
Talk of Combination.
combination OF companies manu-
featuring road building mach merry is
talked OF. The possibilities in this di-
rection We're reflected IN the price OF
Barrett stock.
II is reported that Il new shipping
company is being orsanized. with At,
lantic and Gulf and West Indies and
Cramps as the central features il Is
planned to be the greatest American
shipping enterprise. Its organizers
hope to set many ships from the gov
crnmcnt
Bethlehem Steel Went higher as the
street had expected II would after tho.
careful collection Of its stock made yes
terday.