Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-22
DOCK MARKET IS At SEA
l|!|l :! RAILROAD SITUATION
E3ain9 In Wall Street Quiet Pend
ang Decision OF Brothcrhuods
Conccrning Wage Award.
DTToN HITS RECORD PRICE
Opening of Oil Wells in Oklahoma
sxs and Texas Sends Shares Soaring
IN Face of the High Call
q Money.
ny nnoAn.N M.11

y : "
NEW YORK, July 2l-Best orin-
Ion In Wall Street today was that
5thhere would be no railroad strike. and
Ward after little more grumhlinG.
We're much at sea dur
sXIGmost Of the day and business was
Eore,, did not acquire any Roadway
IN either direction. II the identity
3o! purchasers counts for anything
8fot the buying was Of the best sort.
& Railroad stocks were favoritcs. as
ifFMere the oils and railroad cquipmcn;
SHARES. Sugar stocks were weak fol-
4 loving n break of sugar options. But
ASorn Products and United States
Food Products. which make substi-
scotton sold ut the record price OF
&43 cents pound thereby exciting
traders TO 90 short OF cotton options.
fsMoney did not so above per cent.
S.n. which level it ruled all day.
#.For the break IN sugar stocks thcr,
no ,h eXpin 1main n Other b ,han The
ss4tsSEESS5ri Oil stocks itup High.
many OIL wells are just on tho
yPsafgnSot coming in that the oil stocks
lean hardly be restrained even with
1.-THE high money rates tina, prevail.
lin Mexico. Texas and Oklahoma there
6arc important wells that show signs
36f bein;s record breakers.
The buying OF Reading is believed
Ito be for the account OF persons very
dclose 10 the board OF directors. hut
34here is good authority for saying
SNlH assets will hc made for two years
'SsriThe advtncc in Haskell Barker
Jas due. 10 rumor that the dividend
~ aould be Increased. 1t also will
! a.iare. of course, in the car-building
,sboom that must come If the country
dis to he saved from another serious
freight congestion.
The fact that no grain Is being
FUSED this year for intoxicating liquor
Tor beer is expected TO make a ma
4terial difference in the supply avail
8eSperts the stocks Of grain this fan
&will he moro than normal
n Fear Railroad Bond Ma:uri,ics.
q Some people nav. hesitated 10 buy
&railroad stocks lest the various bond
81 issues falling. due in the next few
Hmonths should lie taken care OF with
is "a sf by se ihs ears sase "% Of
Mthe Erie Railroad. which il is under
#s55o9od has has pia2ned 10 extend some
Il Septcmber. If the Erie Railroad can
s.sqo this the others Will have no di''i-
eu1sSy IN Gs22G 1eG9mm94a
|EParihc between them are resDonsible
Rfor the BurlinEton joint A., which
9muSt soon be taken care Of They
SMwill no doubt he extended also at "A
&highcr interest rate, of course. and
& then the stocks of those companies
Nwill be attractive speculative pur-
Wall Street expects the rate dcri-
Snsion before the end OF this week.
sEThere IS now 10 further excuse for
ISdelay. The plan To put part OF The
Il burden of the wage increase on the
;SSpasscnger cradle is AN unwisc one.
sSbecausc high passenger rates force
s5peoplc TO live in corgostrd commune
saties.
y This congestion increases rents.
Itchccks the deNclopncnt OF the open
rtcountry and in turn forces greater
kTfreight congestion. The ideal would
stibe TO carry passengers for cost OF
Hjrailroad mon believe it would pav
VITO carry them free. making freight
f{paL the CMlirn hmrlnM of nAnrNi NM.