Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-04-17
MONEY RAISE FAILS TO
: AFFECT STOCK MARKET
Increase of IL Per Cent on
Currency Resulted in Tempo
rary Influence.
nl MROADAN M.AII.

NEW YORK. April 16-Money was
marked up to ~ per cent again to-
e eacc n nn han only temporary iiniiu-
money position is we'll Understood in
the street and lower rates arc ey
pccied next week. The heavy paw
drrawais were made are finished. The
Liberty bond market has been ma
nipuaied down so that the govern
m ra has probably been able to
now recovery is the normal result
In the morning the list was strong.
hui when renewals were announced
at 10 per cent the professionals at :
tackled and drove prices a few point
lower. The rate moved up to II per
cent aud the bears thought it advis-
able to cover. which they succeeded
in doing only ut ii loss The close
was strong with Il few stocks show
ing material gains and some with
new hish. records to their credit.
Those bankers whose advice has
proved most valuable in the past sa id
Yesterday. that market that did not,
Weld under the gross manipulation
OF money experienced in the last
week was no market to sell. They
strength that is remarkable.
Sugar stocks we're among the
strong features of the market. They
have had a material advance. but tho
crop news from Cuba and the reports
of sales of raw sugar make it inn
possible to ignore them as Specula-
tive favoritcs. II was rumored yes
icrday iha; the Aiuerican Sugar Com
rany had bought control OF the runt:,
Allegro Sugar Company and would let
its shareholders buy the shares at
1e1. Iunta Allegro has been remark
ably strong recently. II is large
producer and its acquisition by the
big refining company would be fine
business deal. The candy makers arc
going into the sugar business. The
I of , - h.l -
tLtlon and one other new candy con-
ccrn has covered it's requirements by
taking controlling interest in an
important sugar producing con ern.
Consolidated Textile was the BEN
cfciary Yesterday Of two new devci-
op'nents The spinners of Manches'
1cr. England. are engaged in a wage
dispute that promises to DISRUPT the
industry and make II imposs!olc Tor
the British 10 Mood America with
foreign textiles as was planned some
the overall crusade against the high
cost of clothing increases the home
demand for cotton textiles made by
the Consolidated Company: men IN
1hJ, the company pays 81 a share
dividend. earned the cn.erc year
dividend IN January and February.
and expects 10 show 81 sNrr
earned for the whole year. there is ii
speculative situation. Ana nes,des-
whisner this not on the stock cN-
change foor-.Allan A. Ryan X com.
pany managed the syndicate that
brought the stock out. Wall street
loves TO play with = winnSr o
Pan American "B" stock Is grow
iur IN popularity and bankers say II
is TO I've the trading representative
Of III. property IN tho street az INC
"A" stock is being withdrawn Tor
voting purposes. The Mexican rc-
1roieum Company, which is ihe hiei
;tssr, % the Pan American. is jnsi
finishing it's new pipe lines ana VIII
within sixty days bring in siN IN raTs :,
wells There is no doubt reEara,nE
;h.s, u.,y wells for they are AL what
nigh, bc called offsets as they arc
as close as it Is possible TO p.IGe
Them TO wells OF other companies
now producing. ,,
More talk Is heard OF combination
of small independent steel conra
nies. Inland, RcploS!c. Nahaaiun
and Kenubiie are SUPPOSED n 70 se '
'rb,r, may bc nothing in II for not
word OF official confirmation mas pee, zen
obtaincd, but She idea pleaSes inc