Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-08
WALL Street FEATURES
HAVE BULL|sH TENDENCY
French Loan Increased Mexican
Petroleum Dividends and Adj
vance in Cotton Options.
RAIL STOCKS ARE HEAVY
Demand Is insignificant for Trans
rortation Stocks When Profess
sional Support Is Withdrawn.
Chemical Merger Announced.
CnY nnoApAN wALL.r

NEW 1ORiN. sept. ,.--pNclal an
g. nouncement OF tlA new French loan.
increase OF the MeXican Petroleum
dividend from 10 to Il per cent. and
sharp advance in cotton options
were outstanding features OF the
stock market today.
Money renewed At Z per cent. but
rose TO per cent in the late after
noon. Sterling was inclined 10 be
in the afternoon. Announcement was
made OF the terms of the new Chem
real merger which provided for cor
poration with q capitalization cGuival-
cEt 10 about 100000, 600
Trading was on 4 moderately heavy
scale. In the morning there We're
advances al along the line, buzz in
the afternoon proit-taking made its
appearance. In spite OF this profit
taking many issues showed gains Tor
the day.
Rails Prove Heavy.
y significant feature OF the day was
the heaNincSs OF railroad stocks. The
professionals had expected them 20
continue -dvanc.ng. hut IS soon as
me direct manipulation OF these
quiet. thus indicating that they have
no pubic following IS yet.
rms market mas gone UD nearly
Ken points without .ait7ac'ing. the
PUBLIC, but there is already evidence
that the public is getting interested
;or IL Is asking for quotations a.
though not buying any thing OF i'm
p per me-, Broker says their loans
are in Tho hands OF the big Interests
Ano;hs. factor in The marke; that
tends 70 back up the belief O: bull
San?aigt IS tho strength OF Mexican
bonds. This, taken in connection with
Ins increase today ~ the Mexican
Petroleum. dividend j. significant.
.epoEt persists that the Texas OF
.onliAnE MI. II the near future sell
new stock 70 !ts Shareholders az par
IN add ton 20 giving them an extra
dividend either ~ stock or In cash
- IS understood tEat -herc U!l! BE
deEs.o9me ats soon in regard 10 the
.7oa a.o5Ic;s company which IS :
nsrEe- q the old Central Eouad-!cs
and rAe Essex Foaud-Ies.
French Loan rica>es street.
- -. .2-'; ysi!ie II % me French loan
pleased Wa. SRA because @: the
fact thzt the French sove-r.rsn,
agrees 70 buy up Ia. bonds In ma
open MAKE: ~ 20 ilQ. This vii. .enG
70 Keep me -arke: FOX the bonds
above pay. and !; IS : TIE way % en-
pioy :. S.uE.nC fund. i. 5us m.
failure cr The United states govern
meht 20 ADEPT some such measure
i..> e.lTs9 me heart-o.eak!ng coz
Every few months Wall stree.
hears that tho United states x,eeJ
corporation i going - pay . g7eciai
dividend IN Liberty bonds Il is only
tcASonao!e 10 expect ,hat This viii
ne done. Today the ola story ~
varied. II vas SAID .hat instead 81
paE.ng q dividend IN bonds n. com
Eah! Wol!a sell the bonds in the
open market, use the money fo- work
ing c3p.'A. and give tho stoc,:ho.dc-s
= SER? o.V!dcad representing i, The,
40 o'iicia! confirmation az mis- -n
n'EG and :! IS given for what Il is
Nhcmi"ni Mergers Terms.
eTms q Tic Chemical merger PRO
.int .or q new company with s..CI5
""o so5. per cent preferred STOCK AID
-'f-4'H'. shares OF common yy'rhn.,,
par value However. This co,n,nr
beins exchanged for stock With
~ OF S!vO mar SO that the ,ew com
p"ny may be considered rs htirr c9n-
!ISSa!!Hed At just under S2gU.660 O60
mere Were some slight changes; a.
". n'.ces OF the constituent com
N'h!cS TO-DAY IN order 10 rcdu.c INN,
10 the common deHom!nator wIfrb
~GEe oneFed at CT on the curb. This
aHva"ced Barrett more tM1n sr,
points and Aniline nearly s!y MINI:
out reduced General Chein!cal -