The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-04-01
|DInER UPWARD
SURGE FOR COTTON
ny uRoAuAN WALL.

Now York. March sf.---Money went
III Per cent Just before the close Of
~ stock market today and caused
80 traders to take prohts The res
I1k was reaction in practically every
k0ck on the list. but the advances 81
80 oAriy h0urs were 80 wide that net
G0eNs vere small even whc~e record
Renewals were NJ : Per cent and
1T 4 few million dollars NJ any high
~ rata. The market closed irregular
Nth Stutz IT ISL. the outstanding fea-
E4Are Crrcibie WAS another issue Ia
R4nake 4 new high record for the day,
VnnAdtum m AIDE a new record also
Tomorrow being the first Of April,
Hsea a heavy volume Of dividend and
SS5sterest disbursement falling due so
spcss after the first income tax pay
Ernaui, low money is. not expected unt:l
NEext week. The loan condition VIII re
Ssnvwravated by the fact that loans
kans,ie In wall street tomorrow will
xa~vy over ti]l Monday. On the other
Nana the fact of the holiday hav rs
been announced has restricted trading
\ ssr several GAYS. Brokers find prae-
II 2seaiiy no increase in thar loans for all
are advance IN the induStrials has been
n Balanced by seIliug Of the rails As the
snrrsv strain VAL "a ended by next
4 ~ nsssy wall street is locking forward
a lively market next week unless
e sxng.@ unfortunate development inter
Rxxe.sA
f~a-esxr exchanges we're heavy today
Ne rarts al further shipments al Eold
&ts New York from London did not IN
Rs9l4eacs the market IL did however
ksa.asp sentiment to such sa extent that
Report az the cancellation OF large
n grder for steel had no effect on stocks
Ii Although the railroad stocks were
heavy bargain hunters were poklnS
around for prizes
Reports from tire steal industry were
unusuailv cheerful
At the rate the American Tobacco
d soYnpany earned fer the FIRST three
Il months Of ,his wear It's gross for 1879
EVIL be about sl6,eoc066 or so, 600 900
,arre than last Tear This would make
D Iii poss bile for the stock to be put on
Em lie per cent basis after the stock
dividend IS Strengthened out
Cruciele crusaders expect tn G r
stock 10 remain on II per cent basis
Rvegardiess OF the stock dividends that
may be paid. The earnings are under
stood to be phenomenal
Gotten took another drward surge
new high prices for she season being
made in a~t3ons
BY suspending trading in Suits Mo
.ors on its aoor the New York STOCK
IExchange has raised a new question
EHn Wall street The exchange permit
Eged short sales and custom endorses
n .hem as proper what right has the
"A ~xchange TO deprive the public Of an
\ opportunity 10 complete q tranaac-
ion begun on it's floor Cannot a
raider demand that nc be permitted 10
| auish his deat7 Members Of the ex-
#rhange are sworn not to br@ng suit
sxainst the exchange. bur TO accept all
r ruling without question But the
h ustomer IS not bound II will he
strange II litigation does not come
Nssut of today's ruling for the shorts
Fare arbitrarily deprived OF market
place the existence OF which was one
NSH the inducements for the short sales.
@s II looks as If the exchange has made
E. bad situation worse by closing tho
soor TO settlement Of the corner.
Always in the past a settlement price
4 has been fixed when a corner dsvel-
sper. The curb brokers will have Stutz
In their midst tomorrow and interest
ing deyelepre nts are expected.