Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-13
PROFESSIONAL TRADERS
. FAIL TO SCARE MARKET
{. Investors Fright-Proof on Reports
From Europe, and Street
Holds Steady.
BRITISH EXPORTS INCREASE
Trade Tide Turns in Favor of Eng
land Both in Matter of Dollars
and Tonnage Standard Oil
Advances.
ny puoADAN WALL.

NEW YORK. August 12.-Profrs-
sional Wall Street thought this no"n-
ing that French recognition of Gen
eral wranGel would frignten ;n:"s :
Of another break Eut is seemed that
the investors are fright proof and The
professionals quickly began taK!nE
their stock back the markeL mT!n
some material net gains recorder NJ
the end OF the day. , =
Money renewed and loaned ~
per cent most OF the day. but closed
at 6. II is significant that cali iunGs
have been comparatively easy ever
since the Treasury Department, ne
gan asking awkward questions OF ne
hanks The heavy liquidation III the
stock market has contributed 'nG"l!
TO the easier tone OF call money, NJ
even when money was higher. mere
WAS no legitimate excuse for the hiSh
rate Credit for the lower rate must
therefore he given 10 the pen t!ci'i.s
who are anxious 10 save II thsy G"t:.
what little OF CountryS business 'H'E
Publication of the British import
and export figures for the mo2tn o.
July showed that trade is turning IN
favor of ENGLAND at 'remenoouS
rate. at the same time that IL is turn,
ing strongly against the United
states. For instance, imports INTO
England in July of this year were
only S.ll6.00O pounds sterling - c%.
cess of exports, whereas in Jniy "b
last year the excess Was 'o'Vp''''V
'o''N Money Tide Turns.
This Is all the more significant he
cause it is not in money nione mt
The tide has turned but in tohnaSc.
Both dollars and tonnage have urn
ed against the United states. lnis
trade shift in both countries IS me
direct result Of the different hnan-
cial policies pursued by the Sovein-
lments of the countries. EnElan! ins
promoted foreign trade while the
American government mas h no,hiep o ~,
steel has enabled the accumulation
of the stock on large scare o. IL
new pool. The company. Is, accord,
ing to an officer. earning more 'hah
il earned last year.
Although production is far neh.nd
demand in the shoe industry. 1t was
reported today that one large com
panv in the Middle West would close
its factories in order 10 ind out
whether the partners or the empIoyes
were in charge An agenHt Nv, OF yo 1re
now trying TO find out whether East
crn shoe manufacturers Will join N
a general shutdown
a further advance OF sci a share TO-
day on talk of II big stock div.deni.
While Atlanta, Gulf and West IN
dies stock has a rather narrow maj
selling il or every hard spot
Utah Copper Is Weak.
The peculiar weakness ol VAN
Conner stock noted several days ago,
was explained when it's repor; was
published for the second quarter OF
this year, The company faxed 10
earn it's dividend ny $l96,2G5. Nevada
Consolidated also showed deficit for
the three months Of $llo,SGi. ms
makes its deficit for the half year:
s40U,i45. Ray Consolidated turn"d
iip with a deficit for the quarter OF
Si.039
Sugar stocks continued unsa tied,
thereby rejecting the weakness OF
The sugar market. The cuban mill
!ionaires are beginning to get NOR
ried ana show Il tendency 10 dump
their holdings on the marNe; at any
price.
When Sterling rose TO 500 l2 it
represented 4 handsome profit 10
those SPECTATORS who bought on the
break OF last week. They took profits
freely with the rcsul; that the rate
fell more than 1 cents from the top
Announcement in This column thtt
the Chemical merger has finally l"cn
completed found further confirmation
but no official statement was issued