Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-10-01
|NDUsTR|ALs STILL WEAK
WITH RAIL SHARES STRONG
In Some Cases Wall Street Market
Records Lowest Prices in
All History.
TIRE MEN WILL CUT FIGURES
Public Utility Issues Continue TO BE
Regarded Favorably by Investors.
Looks for Reduction in Petroleum
and It's Products.
nY nRoApAa XALL

NEW YORK. Sept. 3o.-Strength In
me railroad shares with further
weakness In the Industrial depart
nent characterized dealings in the
stock market today. The persistent
selling OF IL. Industrial list in many
instances resulted In new low levels
ior this movement and In some cascs
The lowest prices in history. Brok
crs reported that 1t Is now fashion
able TO sell the induBtrialS and buy
me rails. Closing quotations. for the
81 the session while the final figures
Tor the stocks OF transportation COM
hanics were near the best.
Fronts Great During War.
The Industrial issues have reached
me point where many bankers and
brokers' believe that they have about
discounted the worst that can han
pen. They point out that the cor
hI " VIII have TO take heavy
fcntor.es, but add that their urofl,s
nave been go great gincc the begin
ming OF tho European war that losses
can be taken out Of the surplus earn
inrH OF previous years without re-
suitinS In recourse 20 the bank
ruptcy courts. Attention is also di-
iectcd to the fact that tn. untavor-
Moie FACTORS which months ago were
"leWed with apprehension and which
resulted in The depreciation OF the
quoted market prices Of the indus
,riai shares are daily becoming pub
nc. TO those taking an optimistic
View OF the situation the worst IL
about over
Quite a difference of opinion exists
rs 70 whether the present activity In
INC railroad department represents
real buying by important people.
large coIntnission houses declare
that their customers nre purchasing
tniiroah issues on but q limited scale
.nd the aggregate of these shares
helns carried In margin accounts Is
small The assumption Is therefore
made that the buying Is for the ac-
count or inside interests. One point
IN favor OF railroad securities, how
over. IN found in tho fact that the
outlook shows considerable improve
inent This statement In made on the
"uthority OF a prominent railroad cx-
Pittsburgh and West virginia con-
= Nnu"f 20 be purchased on n liberia!
scale Directors Of THIS property =
ia'S under consideration plans for
~" segregation or its coal proper
LEG, tn, q very inlportant aurouuco-
'n"n' Is expected To be made public
within the next week. and some OF
nc "uy!ns OF the STOCK today was
declared TO be In anticipation OF the
uFnmu!gatiOn Of the good news
Decide q" Cut Tire Prices.
some OF the -Irn manufacturing
compHnies have decided to take tho
hail by Tho horns ana cut prices. \
rpbstan'ial reduction. probably Is
tomorrow BY one Of the smaller corn
pAnics whose shares are traded In
On tho New York stock Exchange
Tic curiailm-nt o! production by the
~" concerns may be realized from
me fact that within the last month
$1,000 passenger tickets have been
old a. Akron to people who left that
city because OF unemployment The
tire companies have reduced their
output by approximately so per cent
according to ono authority.
Cali money rose 10 . per cent
which Is the highest point reached in
some t!nc. :
The financial district IS looking for
reduction in the prices Of petrol.
cum and It's products. a cut in
prices ie expected 10 Increase the
consumption OF fuel oil. 4 pricc-cut-
tlrg campaign il also expected TO
result in the absorption of some OF
Tie s'na!! producers BY large com
paricp.
Motor shares were again under
pressure, General Motor shown. ..
particular weakness during the scs-
sion and At one time showing de-
.linc OF IL points. which is a new
low record for the present ou,stand-
ing shares
Public Utility issues continued 10
he moro fayorably rem rd.d