Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-16
Took MARKET RISES
AFTER WEEK DECLINE
ais Advance I to 3 Points and
Industrials Are Also
Strong.
RITIsH REPORT HELPS
cport From Railroad Labor Board
That National Agreement, Dciiii-
ing Working Conditions, Had
Ended, Starts Prices to jumping.
ny Il. l.. ltnrnuiii,

ny IL. L.. bnruuh1,
STAFF Correspondent United News.
NEW YORK, April l5.-All OF this
eek UP to the close of business
ting AS though H. was ovcrsold ana
antcd 10 go up IL givGn half
inbc". But the news was all against
ana prices in spots continued 10
cline. To-day, however. ther" wac
distinct reversal, rails advancing
ON one I" three points %" more
ith the IuIuStrials also very strong.
u OF tOday's news Developments
ere favorable.
FRS, came the announcement, from
ic Railroad Labor Board that the
,tIOuai agreements hcnninE work
Ig conditions had been abrogat"d.
| All street considers this a distinct
ictOry for the railroad managers.
it means return to pre- var con-
tipns, win "a large saving in pp-
'atlug expenses. Centralized "rghn-
alton developed under Federal con-
Of Of railroads was rcsponethl" Tor Il
cry large perccntag" or IN" in'i
'irucy which has cut into railroad
ross earnings. Hut labor also son
victory in tho decision JuS' hanati
lwn The Labor Board recognizes
lc tight az railway employees 20 or
anil. and have representatives. "l
iclr "wn choice. IT "as on IN" r"in'
81 named that tn" steel CORPORA
ION baked, causing the laSt big
rikc, which II won
Capital nnd Labor Must Unite.
Far-sIrhtcd man iu Wall street re-
I've moro aud moro that Industrial
sac. dopcr on putting capital ana
Dor ON tho same footing ana non
n, hy,h rarpruE!hlc 10 the pubic
hitch pass tn. bills that Is INC
orkin: plan Of tn" RnllrOa1 LABOR
oari, which was created ~ C"h
resy n thr nov TRANSPORTATION Ii"
WhNc tho Railroad Labor hoaTd
rc.slon honlt With n situation clos"
, homo. the action %! the labor read
rs IA England In cnu""lIny IN" e.h-
raj Gtrlke wnS big factor IN W
Avs rhRru recovery IN m" S'vGh
larEct u was nliEcd 'hai NC
tr!ko meant revolution. shortly AZ
r IN, OPENING ~ tho market. IN"
cNs- tIckors printed London cAht.s,
noting 'Aovd George as ann"nhc'hS
. tho House that the miners Mr."
n,oorro,.iyinc in their stand. Then
anne tn. rash. with no "Nplannti"nS
nat no strike hal been called OF
no explanation is that TABOR Fcc't
tied ,ha, he machinery FOR protect
ny the public hnd been ?nt IN mo,
ion maj IA" BRITISH government ana
.uhl.p was ready - 20 TO tn" mat
.ith r,,Itl.cs labor leaders.
Threatened With shipping ri"-tr.
Hero ia this country compute
Io.up or shipping was threatened TO-
"a, IN tho Nrriuc Workers Union
. :, rrsul, NJ Inc reduction OF 80 per
Tent iu wages 90; eng iu,.rs anrouuc'n
for NAV / ~ that threat IL chE',.I
,vt. the leaders Will learn. hS h''
hose IN England. Nat this - not ne
Irnc Tor such action u ihhgr IN th's
ou-,-y rlSr. 'ro- r'-'"ov"r' nr lis own
rec .rtll TINT ~ IS tim" 'nr y 20 come
own M ~ its high h"rs", the los
on wl! be learned painfully 10
ay thcre are NOR" men ,h"h 'o's'
"a ID. mi Z 4
Wall street heard from Washing,
on ~ rrivi,tc ~ir" that The rht!r"hd
iinntiDn was the prittibl! Su.i.,t
discussed at todhy's cabinet H'''!,hE'
he national arr,cin"n,s are ON ="
30 va, every effort VIII be mad" by
resident IiarLius TO bring about
traich, reduction In RAILWAY waE"s
!, made in passenger and irHieht
Wnile i. was known that money
as been billing mp In Sew tht ,,,i
;trco. was taken by surprise ~ the
.rii0n or the Federal r"seTv. bank
~ Bostun in lowering its r"diNc"Uh,
Ate on commercial. Industrial ann
III other unEecutch paper from Per
cnt To- 6. The las, change IN INC
al. nj Eoston was made June !, l"1".
,ycn owing to local and country Widc
train in credit IL was incrcnsrd it"'h
: nor cent to :. Despite the warning
,sucd ,n,inv ~ Governor Harding "I
H. Federal Reserve Board that IN"
.hourc Of Boston. tho first rtdnct"n
q he made 10y amy hank. should not
40 construed ~ for"cnsting fruuS-
ions hy other Federal reserve IN
,,Gi,.,,,,irSs Wall street believes that
T, j. merely the first step in gen
mi lnwcrinc of rediscount rates.
Vail Strcrt's Opinion Diners.
wall street docs believe hD"c.'i.
rF.Ht a.
hat other red"cHo"S ~ ,,n,,s
rates Will com. sTadually aa mem,
80 ranks succeed in cutting down
;bnir loar accounts. II - rc"!."o"
,J,i roston. tho heart OF Ne" r.hE
lands industrial center uoc, 'o' his
%Inv tho same position as otheE us
r;,,, in the country. For cNhhnlc,
-, tho close Of last week the Bostoh
Federal Reserve Bank rcpor'en
serve of GI.6 against ontE ,3's ~. ~.
Kew York. 1916 for Chicago ~ i"r
i2.s for both Atlanta
,n,i X ansas city. AIS for Richmond,
and 3SG for Dallas. u VIII ne som,
time before some Of the BANKS JuS'
named are able to lower their re-
In the conference heinz held al
between officials OF inc
i.cdcrnl Reserve Board and F"dcrhi
reserve banks II was learned to"n!
diSccunt rates of the Federal reserve
ranks should remain UNCHANGED al
least for the present. In this con,
uectIon in reviewing the preSeh'
situation Secretary Mellon.
,Wmo is attending the conferences of
,,onkcrs. expressed the belief that
outside of the automobile Industry
ana other special lines. there nac
been no real progress i''auc ''''''s
,rhis is the belief of bankers here.
the fact cannot be iE-
norcd that the reserve ratio of me
,u,ntvc Federal reserve banks at the
80 of last week was up to 53.5
AGAINST 42.2 year ago: which means
".Todual liquidation of loans. II is
Ever extended loans that is making
w - Nallpp l.; banker.