Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-03-04
ANDO|Ls
ARE SHOWING ACTIVITY
Union Pacific, Erie and Atcliinson
Place Orders for New
Rolling Stock
ny uitUADAN WALL.

t NEW SpKk, MARCH, 3.--Some i'm
provcment was seen Iii the stock mar
ket today. Most or it was in the in
dustrial list and the oils. for the rails
are still disappointing their trienus;.
The only news OF market Importance
VAS announcements OF orders tor roll
\ ing stock placed by Union Pacific, Erie
ana Atchison. This caused an advance
in cur and foundry STOCK and u re-
y WOODEN and Endicott Johnson, which
are the leading representatives OF tne
inventory stocks, went 10 neis low
Money was 10 per cent. ali day, and
brokers are being given 10 under
STANG that the rate will be higher
Eanks are warning against activity IN
the market, and the pul. party lis do
Ing everything in IT'S power to comply
With the request OF tie bankers.
- Buying steel securities.
While the Steel stocks haye not been
acting well. the buying OF these Issues
seems To be better than the selling. In
United states steel today the stock
Went TO interests that usually buy for
keeps. In that respect IL might DC
compared with the buying In Mexican
Petroleum. In both United States
Steel and Mexican Petroleum there il
buying for the account Of persons who
are not particular about what the
pricca may be in the near future. In
declines becaugc of the opportunity TO
acquire cheaper. stock. l:veryDody
knows that there IS a word shortage
OF steel and petroleum.. and that good
/. business 1T fair profits Is assured both
Industries. The Immediate future OF
The market may not DC Influenced by
the good buying IN those stocks, but
when the market turns the back logs
OF investment now being placed viii
add to the Intensity of tho bullish
names. Earnings of the steel com
panies In reports being made public
are not goo1, but current earnings nre
good. Only the insiders know the cur
rent earnings. Another point in favor
of steel and petroleum companies is
be liquidItcd. but rather a minus in
vcntory OF millions OF tons.
Investors Arc Strong.
Those investors who are financially
strong enough 70 stand any. further
collapse that may come i'm tho stock
market are buying stocks quietly be-
niodttics now withheld from tho mar
tcts.s there will bc1a shortage OF nearly
c"cfything. The commerciai panic that
fore, he a very brief one. Complete
recovery from II may we'll come within
u Jew months after It has reached it's
climax. provided crops are good. The
indlvdul In America just now, for on.
hiss output for 1890 rests the whole
commercial and stock market struc-
inre II the farmer should adopt
unron labor methods. u long period OF
depression would be almost certain.
therefore. crop reports are more inn
nortnnt than corporation reports.
bank or All Nations.
phc Bank OF All Nations 10 now he
iDS discussed in Wall Street. This
institution Is 20 be designed To serve
a bank for International securities
and government houd issues. 1t Is
PROPOSED that iis capiial stock, which
wiH be several hundred million. shall
70 taken In Europc In connection with
Hns establishment. Tho matter Is too
vague 10 bc discussed with certainty
and some bankers believe that IL il
SUPPLY an ideal that tmay not 10 put
intp dcnnitn shape II would be a
.ort OF financial 1easue of nations and
would scrYe;.U very useful purpose In
ting cconomy OF The world. AS to
where thcfhea dumart crs would be ana
wiSp would hold tho reserves Banking
interests seem to :l,sG entirely mt. sea:
central Office. SWh inh wifi. be- Snhrely
executive. and TO have tho reserves
kept In branches located in the coun-
lriSa plcds!ng them. each country TO
hold It's own reserve. The board of
directors would be made UP OF repre-
sertatives OF the various NATIONS in the
proportion to which they contributed
10 the capital. --c