Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-01
|Rkls TAKE LEADERSHIP
IN MARKET OPERATIONS
otter transportation Conditions
Arc Reelected in Stock
Market Movements.
MARKET is STRONG
tnycsttng Houses Declare They
Have Seldom Seen Such Per-
sistcnt Buying-Oil Stocks Sec
saw During Days Dealing.
ny nnnADAN MALI.


ssshares were the features OF the stock
lsssssfnarket today, wit:i the Standard is
{Ssaes and the so-called cheap stocks
Money renewed "A: per cent and
tsswent as high as in the afternoon
s,n,psing a reaction, which. however
sfspf he day. The close was steady.
With WI net Gains showing in The rails
news was not alarming. and nothing
deyeloped at home 10 JAR the market
Esiaut of the professional rut into
Sg,ln rssard TO The rails, very
isnterestnS situation exists. The
freight congestion Is ?eing cleared
st, SpeedeG up, so that there VIII Lee a
Us more free movement OF traffic. than
i4Sttt any time IN many months. AS the
sS.reasons for this there Is a radical
between the advocates
ssr2of. government ownership and o. pri-
sahething for either the one or the
st,cther. because he can make money
*. under either condition. but facts are
snafacts, ana the fact is that the freight
3GfonScstton is disappearing and that
rates are up. Clearing of the tracks
Charger earnings and, consequently.
smore financial reasons for higher
Movement IS Trcakish.
gsl That the movement of the rails are
e frealsish was demonstrated today
when Baltimore and Ohio preferred
stock. sold about two points higher
& THAI! 1aan the per Gent bonds Of the
by the Baltimore and
OHIO. In ono house an investor who
s8h held the preferred stock sold it and
Wfongsly the herds Ss co, MS stated pre-
& railroad stocks arc really oonds un-
ss'uer. the present laws, because there
-s.t5 not railroad In America that is
Ttnot worth it's preferred stock. and
B Congress has dccrced that the roads
q must be permitted to earn > . to 4
a;erties. '' '"s >''"eS OF '"' prop
i 81. Investment houses say they have
seldom seen such a strong bond
n sof the public and biz investors has
s5Sneyer been so persistent. Eoth long
sEand short term securities are in de-
= riand. These investors. who want
.-tlarEe incomes annually. are taking
sAaIhe short-icrm issues. but those who
.eparc satisfied with smaller annual
Itreturn are taking tho lonG-tcrm Sc
6SCurities because they expect Il very
lfssharp advance in prices when money
In suffers Sinking Spell.
81 American intcrna tioual Corporation
y spells. dropping four points. but re-
sicovcring about half OF that loss
Atlantic. ,Gnlf and West Indies, which
isis. the other large, shipping oil stock
ssoa rhe BOARD, had an early advance
OF more man ian. two points. l bnt in the
a iay nf m, !os' mi rGs'asnt I GU
s Indies, is in the midst OF AN inter
I cStinE fight. with the other COM
\ panieS developing oil lands in Mex
\ leo. He Is reported - have elected
3 tbI operate his properties under the
bt.ttctior OF the Mexican govern
Fnent. This action promises to bring
hhe Mexican oil night to an early end
by' Drccipitating tho crisis.
RI Wall street was pleased with Pres
t.icnt WILSON'S stand on The coal
E miners wages. Traders believe that
& in view of the Presidents stand. there
Will be no coal strike this year. II
.ithere is a coal strike in England
that viii furnish so much moro bust
mss for the American companies and
the railroads that haul coal TO
market.