Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-10-26
ADORABLE STRIKE NEWS
BOOSTS STOCK MARKET
'utiook for Peuccablo Settlement
with British Coal Mines Re
Elected In Wall Street.
;ATE FOR CALL MONEY RISES
imp to 10 Per Cent Arrests Up
wnrd Movenc ut, but Close Is
Steady, Novcrthclcss-Oil nnd
Steel Shares Are Strong.
nv ntohDAN wALI..

NEW YORK. Oct 25.-Morc favor
bic developments In connection with
he English coal strike and sub
tantial rise In the quotation for de-
iand sterling impaired n strong un-
ertonc TO the stock market today.
sharp rise In the call money rate
4 the afternoon arrested tho upward
iovc,ncnt and caused irresularity.
ut the close was steady.
Early business was featured BY
ronounccd strength in tine oil and
teei shares. The oil group was led
y Standard oil OF New Jersey. which
t one time during the day showed
gain OF 81 points over Saturdays
losing quotation. u. :. steel led
. nc steel group. The strength Of
hcse two groups had sympathetic
liincnce on the balance Of the list
thich. with the exception of the
peal Traction Issues moved forward.
Money rate Is 10 Per Cent.
can money opened and renewed at
! per cent. but banks were reported
- bc calling loans. and the rate ros"
o 10 per cent In the late afternoon,
here Il closed. Following the rise
10 the call money rate professionals
cSan Offering stocks az the expense
Il ( price and started Il reaction, which
he oil and steel Issues. however,
lOscd with net gains FOR the day.
Calling Of loans by the banks was
undoubtedly in anticipation OF large
I;ithdrawals again tomorrow BY the
'nitcd States government; Official
announcement WAS made this after
Don that the government VIII to-
borrow Withdraw $2S.So0.00O from
ne banks in the Second Federal Re
| ervc District.
Railroad shares have done prac-
Iically nothing worthy OF notice dur
| az the last TWO weeks. Their In
ctivity Is believed 10 be due 10
desire on the part OF the bankers
| nd investors 10 wait for the Septcm-
cr reports OF earnings.
The reports VIII DC issued direct by
he railroads and vii! be the first
| Issued direct since government con-
|rol.
IN agreement hy certain Chicago
banks 10 provide for the current re-
Iiuiremcnts OF the Goodyear Tire and
:uhbcr Company was declared 20 be
| hat the Continental and Commercial
Trust and Savings Bank OF Chicago,
| md y. {. Becker were working on Il
permanent financial plan. Goodyear
common stock. which month ago
old at SlcS share. changed hands
oday at !5j "A share. Several weeks
go the company sold two shares Of
preferred and one OF common FOR
Y. 5. Steel Director. To Meet.
Directors OF tn" United states
|iteel Corporation viii tomorrow act
I'm the quarterly dividend. Rumor3
fvcrc current that the hoard would
fleclarc an extra stock dividend. but
hcse received l!t:lc. IL any crcdcncc.
1rhc Street expects that only the reg
liar distribution will be ordered. The
quarterly statement of earnings Is
Expected to show from $4,000. 900 10
|i5e,OoO.0o0. For the FIRST quarter Of
he year earnings were approximate
- SI3.t00cO0. For the second Quar-
Fer they were about ,S42, 00o. 200.
The rise in STANDARD oil. OF New
JERSEY. WAS accompanied by reports,
hat the company would PROBABLY
icclarc stock dividend in excess OF
zoo per cent
;oing on In United Fruit decided
oday tina, the issue WAS ripe for
akinS profits. In fact. the harves,
began on Saturday. The realizing
alcs resulted in weakness In the is
ne. which closed with a net loss OF
lightly more than seven points.
When the Court OF Appeals last
week decided that IL would not i!stcn
o "a r.areunent OF the So-ca!ied j.
cnt iaTr case. 4 pr!ckcd The spcrI-
|ative bubble that has been started
n the loca! traction issues The re-
iva! az operations Ia Third Avenue
nd marlborough Consolidated wer.
based on IN" sentimental influence
u tho increase granted traction COM
.an!"s in other large municipalities.
|Fhird Avenue lost two points, when
max" total depreciation of abou,
i've points from the recent high In
erbor"gh Consolidated declined two