Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-27
NALL Street CELEBRATES
RAISING RAILROAD RATES
strength OF tho Market Also Duo to
Expected Fall in Money Market
and Extension OF Credits.
TOBACCO STOCKS ARE STRONG
Calls Advance on tho News That
There Arc to BE Profitable Com
binations and That New Period
OF Development Has Set In.
ny nOADAN WALL.

NEW YORK. August 26.-iAlthough
money went to o per cent today in
Wall Street. after renewing at per
ccnt, tho stock market closed strong
and fairly active. II was the first
day OF the increased railroad rates
anu traders celebrated that IL little
Dn. But the real reason for the
Strength or tho market was the fact
mat after the end of this week n
SHARP decline Is expected in the
sunnijs. rates ate ,S9FFether with better
The administration is keenly alive
10 the political dangers OF the bank
ing situation.
points between high and low. Rail-
ROAD stocks ana tobacco showed tho
greatest strength. bun there was also
ae,ivity In few OF the oils. Hous-
was particularly strong. United
Statcs steel. Southern Pacific. Head
ing and Union Pacific were the rca,
market leaders.
News from Poland was Ynoeyirinr
10 inc bun party In the street.
Market Is We'll Oiled.
r2r tha advance in the railroad
| be assigned. The machinery OF a
IcoastTuctive market has been we'll
oiled and is now beginning TO tunc-
tion. Naturally the rails VIII he
prominent and also naturally only
the htgh class rails and !ndustrials
Val be pushed In the front In the
eaT!y stages ~ nc campaign. The
bargain after another and parading
anch before the speculative public.
Incyt arc 10 be numerous raiiroad
TO take In little lines.
period of development among
he railroads equal in speculative i'm
asa hifeen years ago is about begin
nIng. the path h!g buslne.s 10 10
,5aSel has been clearly marked out
x the Supreme Court and Congress-
fes,ment opportunities never before
possible.
Activity In the tobacco stocks to-
DAY was due to circulation OF reports
or earnings. not only o! the retail
ing markets but OF the manufacsur-
ing companies.
Dig Profits In Tobncco.
The United Cigar Stores and To-
aacco Products are doing three ,sn,,s
nc business they did at ,hA time
t tas, y9ar' The Consolidated Cigar
many OF certain brands an it N:lg a
year ago and the company is carn-
cnE, at the rate Of !s5 a share on lis
year 10 pay the dividend on It's
preferred stock and il Is earning
more TS, man TIA, that every month.
Ina. ~ Why Consolidated common
ana preferred have been go active re-
'jnty. That Is why Wall Street cx-
nhcts somethins more than the prcs-
my DIVIDEND 70 be declared al the
ineetins which will he held In about
Two weeks. The American Sunatra
company, whose stock was hurt in
INC market by III. death OF several
!arse holders. whose interests had TO
ee markcteh. is now in strong
iechnical position. because all those
nolnlngs have been markstcd and
lie STOCK ~ selling ~ less tnan half
Announcement that $4,000. 900 tons
o. American coat will he exported 10
,:urope means great deal 10 the pr-
ttoIeum conpahlee. II the great coal
strike actually takes place In Euronn
even this great shipment OF coal viii
90 insuinc.ent to provide warmth and
power 70, Europe this winter. it's
Shipment viii depie;e American sup
yi'es, ", 'ch arc already under nor
nal Will naturally create a
demand for fuel oil.
Rumor is In circulation regarding
Tho plans of II South American gov
crnment 20 forfeit the oil grants 10
certain companies whose stocks are
ioan Ia by Wall Street. Mexico
IS not tho only country where prom
p ~ a