Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-22
RAIL SHARES ACT WELL IN
ANTICIPATION OF RELIEF
With Congress Again in SEES,
sion, Bill Giving Aid to Car
ricrs Expected TO Pass.
SOME srEcIALrrE> SHOW GAINS
H'"hn"friHis and Otis. However, Are
- Wrnk-GrndunI Increase Ia Pur-
- chase or Iron md steel Sccn-Stecis
show Earnings.
Iiy IL, l.. ilurt,t,m

NEW YORK. sept. 21.-RaiIs acted
Very well today In anticipation that
Congress. again In session, viii
promptly pass the ministration rail
sway bill. giving financial assistance
to the carriers. GAZING wee also
-s'hown by some spccialtics. The in
dnstrinls ana oils. however were
~trrcgular, or weak. under the leader
.sship Of Mexican Petroleum Tho
las, named, which recently recovered
It" u 81, nftcr having sold down 10
s.Ni l2 opened today at 10; l..
against last nights closing of 1871;
-iJ'f then sold down to rs a. OF this
-d"ciinc. points represented the divI-
d"hh that came OF overnight
some very bcariph talk wHF heard
today on tho oil situation. ana there
H'"as some very heavy selling In tho
spil shares. J, Was reported that IA cut
in the price of Lubicnting oil Is com
"inr shortly. Today's boarish talk was
har"d primarily ON the statement
published by the bureau OF Mines.
showing large accumulation Of sup
-piicS which. of course, rejects the
failing on in consumption.
At Tho clos. Of July. according TO
this report there were lsll5,OO
~tarrcis Of crude oil In tho hands OF
rctincrs, against only l7,OSs,oO0 for
the same ,'mc last year. Gasoline
supplies were ,2as 600 gallon,
against only iI3.2Teo gas aud fuel
oil i,26n.to.Oot gallons. ngnlns, G55.-
-1S2 900. Luhricntur oil. 25s, G3s 600
gallons against 1871 100000
other sellers in on stock.
i.iN"rmorc Was generally credited
To-Day with s"lling Mexican Petroleum
snort However. there were other
sellers In this stock and In Coqden.
FsinClatr and other oil shares
NE.a. H.,
more turned from tho bull to the boar
side Of tn" market, because ne had
-h"cn "douhle-Crosscd" by a large
operator rromin"nt In ;hn tobacco in
HHstry. That may he true, but IL is
more lik"lv that 1tvcrrnore turned
h"artsh because no found tina. tho al
NAnc" had been carried as FAR ms nos.
S'h'" ana hence tho bear side Of.
Tered the largest chances OF ouIck
rronts. and l.fvcrmorc does not SOON
I" h' adj" 20 remain inactive. as long
''S 'h"r" III "A chance to mako q turn
Today's weekly review II Tho iron
ana steel trade. by the Iron Age.
'h'"s that gradual increase In buy.
ing IS expected through tho autumn
months, even II there is no improve
""n' in consumption bu, that huvinv
for forward delivery is not looked for
rntl l"22. y is added in discussing
foreign trade. that steel exports dur
inr iurust We're only 1892 tong. Tho
smallest since Janunry. 1909 For
jnly II this year. exports were Sc >
f"3 tons and. for Angus, Of last yoar
i3i,isi tons
steel Earnings
Earnings 81 the steel companies Tor
the third quarter OF 1927 Will bo uuh-
liEh"d n"Nt month II is expected tho
statement viii h" very poor. but tina,
August will show an Improvement
over July and September an improve
U"rt over August.
Union Pacific published !ts earnings
today for Aucust- showing gross NJ
'lS;ii.0OO, "A decrease, Of .i.l3T,no6,
but not operating income, after taxes
az StOl7 600. an increase OF S3.oi8.-
orv For the eight months. gross
mounting 10 slto.3i" 600 was OF
'lS.r0i0OO, with net operating income
OF .-.lllOoo. OF s4.s22oon. For last
year. gross Included .3.n55 GOO back
mail pay. The operating ratio for
this August was down TO &C per cent
OF gross. against So for the same
month las, year. For tho first eight
months ~ the year Il was 81 per
cent. against 90 for the same month,
Of 1890 For this July. II was - per
cent.
Build for bolivia.
American International Corpora
ton. acting with several banks
firms, has taken II contract 10 build
1928 miles Of railroad for the Rciivian
government. The banks arc TO take
S7.0oO,O0O s per cent government
bonds and sell them. the proceeds to
hc used for construction purposes.
Can money opened At 12 per cent
today and advanced TO s. the first adj
vance in many days.
Famous players was sick again to-
day. That stock is now off 10 points
from it's recent high of Gi. 1t Is no
secret in Wall street that the Ar
buckle affair has cut into the earn
ings of this company.
today and declared tho regular quar-
tcrly "a per cent dividend.