Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-10
INDIVIDUAL STRENGTH IS
SHOWN IN WALL Street
Every Share Holds Its Own
Without Any Aid From
Professionals.
srEEI. STOCKS TAKE JUN
Follows Publication of Report OF
American Iron md steel ing0t Fro
,iuction. Which shows dig Improve
ncnt In Inlustry.
Hy IL. a. Ilarni,in,.

NEW YORK. Sept. S.--The stock
makct today. following another quiet
period at the opening. advanced Az
the session progressed. with most
groups again participating In the
upward movement. Stecls. Motors.
Oils. Equipments. Coppers and Mis-
ccllaneous issues all displaying indi
ridual strength. Mexican Petroleum.
as is generally the Gaze, was again
the leader OF the Oil group. while in
the Steel group. Steel common was
the feature.
Follows Optimistic Report.
The upward movement in the Steel
stocks followed the publication OF
the report OF the American Iron and
Steel inEot production for the month
OF August. which furnished further
proof Of the Improvement In the Iron
and Steel industry In that month. In
dicating that possibly the turn for
the better has been reached. The
statement Shows production OF l,13S,-
OIL tons for August. as compa ed
with S07,3I0 tons in July. and 1908
400 tons in June. the increase being
much greater in proportion as that
reported for iron production earlier
in the week.
Copper stocks rose as a result OF
the regular dividend being declared
by the Utah Copper Company. Wall
street had expected the passing OF
this dividend and as IA result IA large
short interest built up in the cover
ing from thi. quarter. put the stock
up and others moved In sympathy.
In addition To this. however. there Is
Improvement in the trade position Of
copper metal.
OIL Committee to Return.
The committee OF five Oil men.
which went TO Mexico to confer with
officials OF the Obrcgon government
on the matter of oil taxation. is ex
pccted to return To this city late to-
night For some time past Wall
street has been fed on optimis Sc
Inducements ms To tho settlement which
had been reached between the two
parties. dispatches stating that II
was satisfactory TO both sides. hut
at no time was amy official inforua
ton given out here. although IL IL
admitted that some OF the local oi.
companies had obtained semiofncial
information as TO terms. The Situa-
ton VIII bear close watching by all
concerned In oil securities. From
what learn here. thr settlement H.
probabi! not as satisfactory" as onc
has been led 10 believe by the dis
patches coming out OF Mexico. and re
ports are circulated now that II Is
not unlikely that some unfavorabl.
developments Will come to light
OF the smaller companies are known
TO he dissatisfied with the terms. Con
s"qucnt!y IL Is considered advisable
according To the conservative Gle
nent in the street, 10 watch ones
step in the stock market. especially
80 FAR as the oil securities ARE con
"erncd. II ~ not considered likclI
that any official information will b,
given ou, today, as the oil men viii
only arrive late. but even this canno,
he taken seriously, in view OF the re.
ports circulated heretofore.
Pass Quarterly Dividend
The board Of directors OF the Con.
t'ncntal can Company passed the
uunrtrrly dividend on the common
stock today. The company had beer
paying nj the rate Of s. annually
on this stock. The regular DIVIDEND
on the preferred stock was declared
Chandler Motors directors declared
the regular dividend Of $50 a shar,
on that stock. despite rumors to IN,
contrary.
iteceivcrship OF the lnterborouyh
Rapid Transit was again averted 20.
day. as result of the hearings held
IN the courts. IL being stated that a
rcceivcrship should be averted unless
the public interests demand H. Tn,
announcement helped The local truc-
lion issues. which moved upward
Following receipt of the news