Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-10-04
OIL MAKES SUBSTANTIAL
ADVANCES IN MARKET
Wall Street Shows Little Life
OH Account of Jewish
Holiday.
COPPER SHARES CONTINUE GOOD
Sugar StoriSs Sell on Two Points
Before Noon ON Reports Tint Zig
i"nn IL BEING Negotiated To Cure
for l.OsArs.
LILY United News.I

7.
Interesting news development was
the publication at II o'clock of the
government cotton report as OF Sep
TENDER %. During the early trading
cotton was up on rumOrs that today's
report would show the condition OF
the crop at %. with expectations Of
yield under 10000 tales. after
which there Was tn. cstimat. OF n
yield OF G.i3T.C0O bales. after which
there was sudden advance in cot
ton OF from 40 To $50 points Those
VIII" had been extremely pcssimistic
had ovcrbouyht.
Prices Are Irr-p:uinr.
But when II H. realized how this
that % other years tOday's reports
We're bad enough The condition
month ago wae in.3. y year ago At
th!s time II WAS Jy.i. The tcn-ycar
average for this time OF year is GO {.
some cotton farmers are going TO get
more for this years crop than vas
anticipated only "A few months ago.
aad the higher pric. Will help out
WIN last y"ar's carry over. l!ut there
win be others who will loee this
years crop or II large part Of Il.
Announcements OF further advances
In crude oil camc early in IN" day.
with the result that oil shares opened
,,roug Substantial advances were
shown today Ia practically all OF tho
oil shares. especially the low priced
ones. Some talk was heard today of
advances ia the near future FOR Ia.
bricating oil. Dispatches from tho
Southwc@t stated that Sinclair had
opened on fun time It's huston plan;
making !ubricatiuR oily. This plant
has been running on part time for
som" months.
standard OF More Friendly.
According To Wall street gossip. the
standard OIL crowd Is nov feeiin.;
more friendly toward the oil situa-
ton. Early this spriuE Standard OH
interests began 10 bay crude oil.
thinking the decline in price vas over.
Instead Of advancing. the price OF
oil continued 10 decline. with the re
suit that - broadway was wprs. on
me general trade outlook than IL mad
oy"r been hcfor" in its Who'll" busi-
ness career THE experiences mad" ~
Broadway lopr Its merry" on the stock
market as well as on TIA" general
traae situation Hence IA" oXtrcin"
urSsimism ~ the past i"w monih".
However. with the pric" OF crude oil
now advancing ,hcrc wiil be a re-
coy.ry OF some AZ TIA" very heavy
losses already written on on invcn-
tories This Information regarding
s,andnrd Oil misiudgment OF tho gem
orai trade situation "nIn"~ from ao-
yolutrly- rcliabl. insid. sources. but
Whether 20 broadway has turned
d.Huii,iy ON tho oil ana the stock
market which reflects general trade
remains 10 be- seen
Today was "a .Icwish holiday. and
the stock market was comparatively
~, az
vas toward higher prices. TIL" UNI
dcrtOnn Mas good
Sucnr Sells on . Points.
sugar was one of the exceptions.
That stock sold on two points before
noon on reports TINT loan OF $3p,-
900 coo was being negotiated to tax"
care Of losses on Inventories and
contracts and rniso needed addition
al worki.x capital
Copper shares again acted very
well There was an advance In the
price Of copper today TO - j-s cents
a pound w on" eighth. The feeling
gocnis TO bc that copper has at least
MT tho bottom. Certainly there Is
al increase in demand Today's
price compares with il.SI the low
price for the ycnr made last March
which was tho lowest since tho war.
since last April 20 per cent OF pro-
down Of mines. This Is having the
same effect on the price Of copper
as the failure OF this years cotton
crop is having on cotton.
\ further decrease OF ls.S23 cars
in the Idle freight ear surplus is
reported today by the American Rail
way Association for the week ending
September %. This brings tho num-
her OF idle freight cars down to
4ii.69s. az which 2l3.5i5 are In bad
order. Last April there were over
5000 idle freight cars. not includ-
ing the bad order cars. a warning
IL being sent out by the American
hallway Association that during the
coming months there will be record
breaking movement Of perishahlc
freight, movement 40 per cent
larger than for the autumn months
Of last year. To get ready for this
and other seasonablc traffic without
spending more money than IL abso-
lutcly necessary. some of the rail
roads are taking the bad order cars
apart and using the material for re-
pair of other cara.