Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-02-27
STOCKS UP ON REPORT
WILSON WILL SIGN BILL
Market Closes Strong With All
Glasses OF Rails Rejecting
Eject OF Good News.
ny DROADAN

i3is NEW YORK. Feb. 26.-Stocks closed
strong today. materially above the low
r prices OF The DAY. because OF repor;
4 tna, President wilson would syn me
iSirairoad biil immed ateiy. Wal! stree,
NJ construed this rs something mat wou!t
DE vety bul!Sh for a shor; tune. and
soven the bear party admitted that Il
,n.sh. e s,rs5ca E S1i bScnusc' in the
Z first place. ii would put the railroads IN
4 position TO 80 ahead with ihsir ouSi-
mess on substantial basis. ana. IN the
4 second place. because it would hc 4
rebuke 10 labor and end the nations
wide, threats OF strikes.
The bad impression made by the re-
!. port OF the Republic Iron and steel VAS
iumpha sized By the report OF the Lacka-
wanna Steel. which showed only SIP
n share earned on the common stock,
on which IT is paying dividends At the
rate OF SO a share. These earn,in =
Win SSH S s,se eaTmp pan tes
arc believed 20 have done much bei-
ter than Republic and l.aSia wanna. So
shat probably the worst Is known re
I,arding that department % the mar
Iet Considerable short covee:!nG was
ndu'Esd in on ih3i 'neo i3soI me az SI Ia
saturday Tuesday and Wednesday dis
+ ccntinued their assreSSiEe operations
4 today. believing that rally in the rails
wouid give then a better basis Tor sell
ing.
Call money was a pleasan; surprise
sscan ay II ad not * M2 pc, wesR
Canada endeavorcd TO correct the eN,
4 change situation between tho United
states and the Dominion by putting an
embargo against purchases o: ScCuTi-
lies IN tnc Lnicd states for casE ny
Canadians This embarg,,o, dos o.. not ,.i a.
uess affected is 50 small that II vii!
nave no effect on the exchange rate. =.
All the railroads !elt The influence OF
the improved sentiment. due 70 nc
rnmor that me frs rs ~9niG T SiI.
improved about as much a the iittIc
ones. although the theorists claim that
fthe ow-pTiccd rails WILL Get relatively
more nourishmen; OF; Of The ncw stu
Boon, in Tobacco stocks.
The tobacco stocks. as Il group. save
q splendid account Of themselves /
MAS unofrcially reported ;nat Thu
seemed auUuJSi,.UO. GOO in the first SIX
months o. is existence: Tobacco com.
II percentage o: profits.
In connection With the advance o.
street heard ;hat . canvass OF the
street had dis .oscd 4 short interes: ~
Some io.oQ0 shares in the. new stock
he old
There has been good buying in Mex
eentiy, but the purchasers nave made
no attempt 20 check the decline the
reason being that they wanted the
Regardless ii Via: may happen 10
manufacturers Of fancy articles. there
seems TO he . general agreement; that
hnsic materials will be in urgent de-
;nand for seve-al years, and so will rail
road equipment. Therefore, investors
are beginning 20 watch very CAREFUL!
}iiSh-vrade petroleum and steel stocks
, and stocks OF the railroad equipment
companies Petroleum stocks stand ut
+ the head of the inv cstmcnt lis; because
Il seems Impossible 20 Nna CINE q Situ-
4 ftion in business tina; would reduce
their earnings.
Sugar stocks Arc Strong.
s. Disclosure in the Central Leather re-
Z port that the company carried in The
Neigh porhood OF S25,u00,O0p worth OF
finished productS-carrlcd them. evil
Y IDENTIFY for the purpose Of PROTECTING
& caused SpcCiaI weakness in the Cen
4 trAl Leather stock and in the stock Of
s. American Hide ana Leather Company
8 Hide and leather preferred broke six
L and onc-half points in few minutes.
y out recovered nearly five OF it later
S Whether justly or unjustly. the publi
\ mas the leather companies marked II
e prohtcers, ana this seems 10 he iusti-
ned ny the report OF ;hc Central
2 Leather Company.
sugar stocks Were strong on the rally
The increasing case with which sugar
can he purchased has softenei the pub
( lie feeling against these which for Il
time were on the DrOiiicerinG list.