The Richmond Virginian. (Richmond, Va.) 1910-1920, 1918-01-30
STEEL DIVIDENDS
STRENGTHEN MARKET

New York. Jap "a Dec arstion Cd.
Ehs regular dividends by United states
steel and Bethlehem gave Wall street
a strong stock market today. Con
pers alone were heavy Steels were
the leader witt railroads ana railroad
equipment shares next in point OF ae-
tivity. ProHt-tAktnS carried prices
down townzs thu close OF the day. bur
&e undertone wss strong throughout
sne session. Announcement or the
regular dividend and regular extra on
United States steel WAS not made ~pra
after the close. llt as every body en-
pec;sd Il there was but lltle interest
exhibited.
Thia diytdso6 payment by tire lead
ing steel companies - not q ta1r taEr
OF the nnanoi-i situation because 10
is und ersto GOD tEas tn government rra
que xtsd that these 5tv ydeuds DE paid
81 tie directors could see their wa
40 a. SO The idea wsS TO keep every
body feeling good IN preparation 10Y
tae u6aEty bond isau& that Is sGpected
10 come ia March lr the ca@s OF
Iritsd tsAteh steel. earnings certafn}r
sGstj6ss the payment soT the oAcem
Der quarter showtas e nst OF S12g,67 g.
NSr &EG &4&EI J. AAA1E1e a. ~
shsre wAs left Sts.7S&. Is
Bethlehem steel did not dssoioae tae
amount OF its war te.Ees and oorn psli-
sons are impossible. But - . comp Any
SN announce that orders "a hand ~
the eng OF Ocean her, 1F3T, amounted 80
$3.50. Sao, ece. against 4 total Of t1S2,-
sT4,94s q year previous. The net for
IAl7 WAS s% per cent OF gross busi~
ness, whereas IN the prsvtouE year the
eosr pAny made net prodt Of zo.Is per
cent THIS decline IN the rate OF profit
In due 80 the fsot that lbl5 was given
up almost entirelT TO government bus
in6Ba.
One sustaining FGeto7 was ths ar
nouneernsnt OF the war Finance cor
roraticn 10 be orEaa.zed 10y the gov
eminent with a capital stogE OF $780,
100000, Al any corporation viii pave
10 do to get Itself financed oHG
present s. routine case Of neceso'tr
such as 81 automatically fr@ser te. by
The maturity Of retes aad hnnaa sew
sngs banks viii a4so Ne taken care -
By the war finance corporation - thhsf
ssyuid funds should Re drawn too heaT-
ny by depos!tors taking the money
aoY liberty honds.
Bankers d's net attach much mar
fsst importance II that feature Of tha
railroad bsll IN congress- thai strives
20 put time limit on control of the
railroads Sy tEs government
siren 9Th displayed By the railroad
seocks was entirely Independent of tAis
and waa dus - the fact that bankers
are working with ire rovsrrn1ent in
an EFFORT 10 prepare the financial world
for fovArahla reception of the max
Hearty bond
The expansion sf credit which II
IKE way bankers IKE 70 talk On lana
eger these deye is beR}arfas TO at
tract attention because she pea~ia &ra
Angtly beginning TO see that prices <
cornmc6ities have not advance. 80
fnst money has AMPLY become ortf~
kAaa rails IS sGve 70 play It's part Ina
tbs STOCK ma xii by holding down tha
pvtces Of Investment stocks whose DIV
idsnds ars fixed and BY t.vc~t'1g spee~
ulation into speculative i77aes WHARF
there is hope q increased,
Shipping stocks were Arm Boot.
Fisheries touched another new high
price SIS did Goodrich Dtsfl'e~s " IS
strong.
Peace talk persisted, bat the~5 was
mo financial OF military basis for &.