Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-02
STOCKS AGAIN
81 feature WALL STREET
professionals Buy Them All Day
-hdustrials Show Great Strength
In Afternoon.
MARKET STRONG AT CLOSE
Cotton Report, Showing Smaller
Crop Than Expected, Causes
Quick Advance of 100 Points.
Wooden Mills May Resume.
nI DRoADAN WALL.

NEW YORK. Sept 1.-Railroad
stoGEs wcrc the feature OF the mar
lsct In Wall Street again today. Pro-
ffss'onals were buying tins IN all day,
ndssDart OF the day the same people
'tcrc selling industr!ais But the
strength OF induatr!ala in the after
noon ciu8ed consliera BILE ropurchas-
> Ing OF tins class Of stock also. The
result WAS that tho whole market
closed strong, although the rails
sto%cd the most gains. OF the railg.
NN MT far!hc. Great Northern and
loaned At per cent
The cotton report Or tho govern
n!cnt showed condition OF G7,j com
pased with ton-year average OF
crop of slightly under 1900. 900 bales
ana surplus OF the staple.
Cotton Has Ijnd Brcak.
ten>-hai e bad break, but the rcpor,
showed less ~ O crop than The stree;
hhd expected and for that reason
noimts the advance was due 10 Il
covering OF short contracts. ou; the
Tact that the supply OF cotton VIII
las in, excess Or the PROBABLE demand
i, at current prices caused heaYy aeII-
inIt which broke ,he list from 80
10 soo points IN the last hour. The
close was from c3 10 Iea points net
i2Wer This ceiling o, cotton is based
ihtgely on the theory that bankg VIII!
hesitate to lend money OH It at cur
rent prices.
Some optimism yvas Injected into
tho textile world by announcement,
thht tho American WOODEN Company
wGnid resume operation OF its mills.
Steal stocks turned strong In the
afternoon "hea trade authorities re-
ported that the restrictions regarding
me use or cars you'd be i!ftcd soon,
fhl" furnishing more rolling stock
TOT the delivery OF stccl tina; has
piled UP. AZ factories awaiting de-
livery. United states steel moved ~
fharpiy on This report
9so All tho tobacco stocks were strong.
ana even american Srrlatra recovered
8 dn'ckly from the break or two polnt.
resn.jinE from n" tornado and hail
NaHoy. where 1t has large piauta-
a. Rrnd'nE May Go Higher
that tho Lackawanua Railroad you'd
enon announce :. distribution o. cDai
nDhipan! stock 10 its shareholders.
thu= complying with the leris.on OF
!nc Reading case. Tho report was
IN circulation again today Jersey
Sen'rnl Ia expected TO announcc !,
distrnrtion, most OF which viii 20
INTO the treasury pt tho ReaJins
COMPANY. which is the i.;tLlng stock
Holder. Then the big distribution o.
iScadinS AZ acts Will nc male ~ or
dered by IA: Supreme Court. wall
Ntrcct GuesseS That Reading may soil
anything from 800 10 $3.50 a share
on ms, The Sinclair oil Company
sos another a0.01Q- barrel s-ii In
Mexico today. through IT'S affiliated
company. tie Mexican Seaboard on
company. II j. announced that the
Ns.icIn Petroleum Company VIII
.hpS the oil
= 'rhcru haa hccn unusually GOOD
DnyinE recently Of P!ttsauren and
""st Ni-slua stock. Thc company
v one OF nose thtt would III In IG :
Hlirtbiy with IL larger hyatenl.
SO i"ld IN very large Guant!t!nS inust
,y1ne soon frpc! .'TanCe nud EHglan!
Ia settlement Of the Angio-Frcuch
bonds. DiAc!a! announcement mas
b"en made OF the French 'sh!pmca,s
thai are planned. Today I. was re-
ported thar consldorapia gold would
gone here from Canada. II Will he
remembered that several months aro
i,reiit shipments q: gold were ynaIe
10 Canada presumably for New York,
bu: tncy never arrived here.