Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-03-03
QU|ETNEsS PREVAILS IN
GOTHAM STOCK MARKET
IL Due to Heavy Liquidation Which
Had Taken Place for Past
Six Months.
ANNUAL STATEMENTS roon
Annual Report OF Tobacco Prod
ucts' Corporation Shows Decrease
i'm Share Earnings, While Nc
Crory Stores Show Increase.
uY II. L.. nOItNUM.

NEW YORK. March All things
taken into consideration. the stock
market seems 10 be taking the now
Developments, most Of which have been
unfavorablc during the past few
days. In rather good shape ne on"
quietn"ss which prevails. ana IT, -
hoped that this viii continue: TINS
no doubt rs duc 10 the hcuvy liru!na-
ton which has taken place during 'He
past six months. and which has elm
mated the greater part Of the w"a"
speculative holdings. If the punHc
we're still! Interested In the Warh"t
on a large scale. one could haze eN-
pcctci "a severe reaction ~ a result
Of the Developments abroad. the ppor
annual statements OF earnings. pass
ing OF dividends and what not
May Postpone Meeting.
There Is belief IN some quarter
that the noctingS Of the d.r.ctors OF
which WAS postponed last Thursday.
TO THURSDAY OF this week, because OF
the lack Of Il quorum VII! be again
postponed, for rs far as can be
learned. little or no progress has been
made In connection with In" com
pinys hHancinS. aud the declaration
OF the regular dividend on the pre-
ferrcd stock depends upon the sue
cessful arrang cmetts for ncw iinanc-
Ing. Speculative quarters are doubt
Iul about the preferred Glyid lends, IT
the money needed Is not raised as II
seems inposs !ble that II can TO PAID.
under such conditions.
Directors OF tn. three leading fer
tiliaer anics-Arncrican Agri-
cultural Che rnical. International Az
rioultnral Chemical and virginia
on dividends during the latter part
of this month. Wal! street is spec
ulating on what action may be taken
by tho directors OF the companies
clined on ruuors that there may hc
either some reduction. or passing Of
reports "!!l not be published FOR
some ;ime, probably not until juno.
and when these make their appear
anco. It Is expected that the showing
,Wil hc none too Favorable. as FAR AS
tn" balance sheets ar" concerned. rs
farmers have been unable to pay for
materials bought last year ana they
VIII also have 10 be given crcdit FOR
materials needed for this years
crops. II g expected that bills re-
ees'"bi" VIII show a big jump.
Chnndicr Publishes REPORT.
Chandler Motors Company's annual
report for 1921 has been published
ana ihis shows earnings amoun,inl;
10 3l5 per share Oh the 100000 sharon
Of stock outstanding, as against SO
earned Oh 10000 shares In 1919. The
,pNtnhny ~ paying $40 per share am
|uiatcd that there might be u rcduc-
~ti0n AZ the next meeting This may
hc so - the directors INA Il n.c.s-
sdry TO conserve cash resources for
the showing made by the annual 70
POT Her arc some folk who believe
'hat thrN - possibility that no
,hh"Te VIII be made. These rcpOrta
hoWeycr. are purely Hucsswork, ac-
tHtl announcements viii have 10 be
hWa!teI ~ 10 per cent dividend
payer Chandler Motors * selling 100
ipW, SO there may hr a possibility
'h,l ne dividend VIII be reduced.
an Initiation Of tn" dullness IN IN.
'.,iotk market IS given Ia HE calcula-
LIONS giving the total sales Cor F,.h.
ruary Tho amount is NOR. man 40
per cent below February OF last year
"na .iaD lh@ .mal lesi Of any CORE
Summing month since February OF
1'I'; which was shortly after tho
hlock rNchang" rcopencd, after the
beE.nninE OF The wor.d war.
Following the passing OF the quar-
,.riE dIE!dend on the stock OF the
sEcnnccOt Copper Company. nm mn
nsna! amount of Interest c.nt.rs
upon fhr meeting Of the directors OF
tlAh, Ray, Nevada and chino. which
VIII De held on Thursday Any ac-
ron which N" directors may take.
however. viii not be SURPRISING, 10
Wall Street. for rumors have been
IA"at for some time that the div
venus would either be again reduced
or passed entirely. Especially In the
case or Uian Is IA reduction looked
Tor. while ~ has even been prodicted
mat the payment would ba PASSED an
tlreJ Now that the reports for tn.
- tH'i s'I az it-b are out Of IN,
way. the passing or reduction o! div
dends VIII hc received as the la,r
piece Of unfayorable news IN conmcc-
tioh Win the copper companies at
Least. that IS Wa!i Streets opinion.
IN" reports for the first quarter OF
MS year will also be untavorablc.
r put -: he time thcy are published II
rs hoped that the copper metal mar
= kct VIII ne much improved
Asked 4" Approve tncrcusr.
dispatches from London state that
the soldiers Of IN. Royal Dutch
company viii he asked To approve an
increase in the capital stock to 800
o.V'ppV HORNS AT i meeting, 10 Dc held
March 10. II = stated also, however.
inai therc is no intontion 10 issue any
ofihc increased STOCK 1T this time.
me annua! rcp0rt OF the Tobacco
Products Corporation for 1920 shows
earnings "Iuai 10 $T,7a per share. az
against SS,5a the year before The
Mctrory stores Corporation reported
earnings OF Slo@i per share in 1920.
against only $3.50 in the previous
year,
Announcement tina; several OF tho
larger o.! companies in the West and
""'thwc"t in again taking 100 per
cent OF iac OUTPUT of the companies
IN ih'lr territory * taken To Indicate
mat AZ least some companies ar. of
INC opinion that the decline in OIL