Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-08
|NDUsTRIALS REGISTER
Sensational ADVANCES
Stock Market, Following Wild
Opening, Again Starts
Upward.
INCREASE IN NoMrnoDUCTIoN
REPORTS from Steel Trade Ccntcra
More t:ncournginE-COttnn Stnrts
on with Holt, New Orleans Open
Ing with !O0-PoInt GnIn.
IIy II. L.. Iinrn,lm.

NEW YORK. Sept THE stock
market today, following n rather
Wild opening in comparison with that
Of tho recent sessions. again started
upward as the session progressed.
with further sensational advances
rcpltcrcd in tho speculative indus
trials. Mexican Petroleum. the lend
or Of the list. again was most prom
incnt and scored n gain of more than
six points. carrying the price to more
than thlrty points above the low
level reached few weeks ago when
tho false report OF the passing Of
Tho dividend vas made Like the
market OF yesterday. all groups again
participated in the recovery. steel.
equipment. oils. motors. rubber. rails
nni miscellaneous Issues all being
higher.
iron Ago todny rouorts mn incrcarc
IN iron production during the month
of August. M compared with that of
July. The increase is small. hut /,
indicates u turn In tho situation. az
production has fallen steadily for the
past nine months to the lowest point
on record. when giving consideration
OF the cOuntry's capacity. The out
put on September ! was 30.770 tons
as against 2s.17j tons on August /.
steel Reports Encouraging.
Reports coming from steel trade
ccntcrs is more encouraging ana.
while operations are said to he in
crossing In Some quarters. il liz not
10 bn expected that any great rush
Will be witnessed for the balance OF
this year. At least this is tho opin-
ion of some OF the leading individuals
in tho trade. but II has Teen known
that even the producers have been
wrong at times THIS month ends
operations for the third quarter OF
this year and. while no statements or
earnings Of tho leading companies
Will he made public until about the
middle or next month. Wall street II
preparing frr another set OF un-
favorable statements, such AZ were
witnessed FOR tho second quarter or
the year. This. however, has no ct-
Ifnct on tho price of the various Sc
turitlcs. as Wall street. at tho pres
cnt time. Is not In the frame OF mind
10 give much attention 10 anything
that appears to be bcarish very
much different point OF view from
that which prevailed not more than
r. fcS weeks ago.
Cotton starts on Well.
Tho cotton market started on with
a bolt today. New Orleans opened
with "a 200 point gain. the maximum
4undcr tho rules Of trading. New
YORK also opened up sharply. follow
re tho lead Of Liverpool. AS the
Iay progressed. however. "a sharp re-
tcl!on was reported from Liverpool
ma tho local markets followed the
ActiOn here being IN excess OF 100,
%tDts
There were many developments In
he news OF the day which made for
hccriuiness In the business world
;radstrcrts index number. as OF Sep
embcr !. shows further improvement
or last month. the feurc being no
IS as compared with ii0,b76 on Au-
uet and inG.I5o on July J. the
owcst ngurc reached on the recent
ownward movement. Tho recovery
not OF very large proportions. hut
doos indicate that. at lcast In the
nniority OF industries. the bottom
ricos have been reached and this,
,,rc than anything else, VIII create
ontidcnco among buyers as the lat
ar could hardly he expected TO stock
n with merchandise in falling
harkot. There arc some Industries
hich have 10 experience further
quidation, and IL can frankly DE
atnd that these arc being adjusted
radually, as witness the reports
,minE from the steel industry.