Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-16
STOCK MARKET L|sTLEss..
STILL HITS LOW LEVELS
Yacht Race Draws Spectators
Away and Little Active Trading
Is Done.
@HIGH MONEY FORCES SELLING
8 German Acceptance of Allies De-
mand for Coal Deliveries Fails
!. TO Rally Market as Many Traders
Thought Would BE the Case.
HIGH MONEY FORCES SELLING
mN nnnAnAN MALL.

NEW YORK. July 15.-Wau stree
K tEad another bad day in the stool
market. with cali money renewing 4
~ per cent and lending a. high as / l
MANY OF the most veutureSomc SpeCu,
lators Of the street were at the yach'
in the afternoon. so that bushes:
being done ali day.
The opening was fairly strong. bu,
selling began almost Immediately
Ey ] o,cIcek : per cent was bid for
money was forthcoming. When the
rate moved 10 II per cent selling
was forced in all the speculative *.
sues. Stromhcrg and Cruciblc Jared
rather severely: United states Steel
and other standard issues made new
Tow records tcr the moVCs&crt. Steel
touching ~ 3-S. The closing was at
( about the worst prices en- all the
Issues.
Because Germany yielded on the
question OF coal and made occupa-
ton OF the Ruhr distric; by The allies
unnecessary: a good many traders en-
pectcd Il rally in the market.
~ Pr"itccrs In Hot Water.
Announ eement that a committee OF
creditors was helping Shesemyer and
asrnnn. the old crude rubber house.
confirmed the report circulated last
IueSday ;hat the house was in
Trouble. II did more than that. 1t
made Wall street realize tkat some
Very big concerns are near the jump
ing &c. place.
Banks do, not dare call some of the
cause proiiteering borrowings have
been so large that under the ham
mcr they might not realize enough 20
save the banks II seems strange
that with the urgent demand Tor ma
Serial any concern should be en-
barrasscd with surplus stocks The
trouble il that the stocks have been
held in hope of selling them at cur
rent retail prices and lllSinISG IL
slumpinS everywhere 1t is now a
question as TO whether the banks.
stand the loss. II WAS reported to-
day that n large consignment OF au-
tomohilcs had been offered under the
market price by a lcadinG company.
News from Japan was not rcaSSur-
inns' II contained the statement that
would be curtailcd SO per cen; be- f,:
cause OF lack OF demand.
UnilS Also On the SkiLs.
The false prctcnsc of bull markc;
IN the rails faded Reading sold
aown to 81 and Wabash y and Mis-
Sonri iacihc lost 2 point each. This
me street realize that pricc.s of stocks
Just now do not mean anything as
ssnpiten 10 particular issues. Many
stocks are selling at ridiculously low.
figures compared with intrinsic and
I. earning value. But the freight con-
gestion and the credit congestion on
. VS. an itlIiTllutnlS.
sudden departure of George I
Whelan for Europe. apparently In re-
Spouse 10 q cheerful message regard
me the French tobacco monOpolv.
Whlch ne and his associates are seek
ing TO purchase, surprised tho Street.
~ is understood that all financial
arrangements have been made TO han
chased. and the tobacco pconlc no.
IsNe they can induce the French ncn.
PIE TO consume three times as much
TOBACCO rs ever before.
InVincihlc OH was no o,o
10 make new high record II did
SO hecausc OF II new We'll brought In
american Telephone held strong ail
0na! because OF It's remarkable earn
lngs statement for the nr., Nv
months of the year. '>