Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-17
BIG AUTOMOBILE MERGER
SAID TO Be ON PROGRAM
WHY'S Corporation, Maxwell Motors,
Chalmers and Dusenbcrg May
All BE Consolidated.
ACTIVE STOCKS CLOSE LOWER
Even Strongest Companies Appear
to Be Needing Money-Atlantic,
Gulf and West Would Borrow
Several Millions.
nY RROADAN VAIL.

NEW YORK, August l6.-Most OF
the active stocks were net lower az
the end OF trading today. Inc news
was no more disheartening than FOR
some days but there was persistent
liquidation that enabled the PROBES
sionais 10 cover where thSS cared 70
do so. Business was light as most
traders seemed 10 want the hnal re-
suits from Warsaw before taking ii
decided stand. Cotton broke padiy
and did not recover. Money renewea
There was one rather weak spell ana
"A rally, but the day was dull and the
close was without definite trend.
bethlehem motors was the only
stock to show any particular weak
ness and it broke four polns on lhe
forced liquidation of a few hundred
shares. kuWors We're current OF 4
change of control The company mas
been dominated by y. y. Ryan and
mis- friends, but they say they are
out OF II. Judging from. action of
the STOCK today. control OF the COM
pany lies with the public.
Announcement was made that Inc
American Can Company and the
Chase Securities Company We're nach
of q new automobile BODY company.
II was stated several months ago
that the can company would go into
the business OF stamping out autono.
bile bodies. Rumor says further WA.
ultimately of the greater WHY'S
Overland. of which mention was made
y few DAYS ago The WHY'S over
land. the WHY'S Corporation me Man
enberg engine and the new body
company combined would make a
worth while automobile corporation
That is understood 10 be the program
Money Is Needed.
Even the strongest companies seem
10 be needing money just now ana
so the street received without sur,
prise report that the Atlantic. Gun
"a toe ns,1
millions. The money is supposed to
he needed for the oil business. The
stock was heavy.
Further evidence that the oil boom
is over was found in report that
in addition to distribution OF a stock
dividend the Standard Oil, of New
Jersey, would reduce the par value
OF it's shares 10 $50 so that the house
could AFFORD to buy them.
Market operators are watching the
call money. market with the intsn-
ton OF selling at the, first show of a
further advance in the rate.
suy Retail stores.
Announcements that George W.
Whelan. president of the United Re
tail stores. had sailed for home after
three weeks in France, caused some
buying OF retail stores. The suppo-
siiion Is that he is coming TO ar
range financing here of the French
tobacco monopoly, for which he. as
agent for the American Tobacco in
terestS. has made a bid.
All motor stocks were heavy as n
result OF more talk about the coming
reduction OF prices. The manufactur-
ers insist that it is only the high
priced cars that will be reduced.
Announcement by President Wood,
OF the American Wooden Company,
that the mills might open in Septem-
Der, did not help the stock OF the
company. The break In cotton flu
lures is n result of an supply
oi the staple.
Texas OH was strong because OF
the new gusher, which is understood
10 be produce =; 26.o00 barrels day.
Barrett sio>n was off four points
ana the street wondered whether the
justly celebrated chemical merger
would be postponed until after cleo
ton.