Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-29
i. S. STEEL At HIGHEST
PRICE SINCE LAST MAY
Rails, Railway Equipment and
Copper Stocks Have
Good Demand.
$. =. 4. OtDEns LoCOMoTIvEs
Zig southern System Hands American
Locomotive Company SI,250,OOU
worth OF Dustness-0ther Lines In
Market for Equipment.
By Il. j.. Dnrnuni.

NEW YORK. Nov. 2S.-Davison
h"itlical. Sears Roebuck, and n few
DINER Industrial shares were soft to-
nay. but the rails. the railway equip
lneht and copper stocks were strong.
mo steel stocks were also strong.
United states steel common ceiling
al the highest price since last May.
Whcn the high for the year was made
~ 81 IL Since then the price has
be"n down TO T0l-i
Much Common Nv Held
IN view OF tho known condition OF
Ia. steel trade "a great many people
IA wall street cannot understand
why steel common should be selling
- rrlc" whore the income return
's only . per cent or less than is
offered on many bonds. The answers
- that more sicc! common ~ held
~ investors today than ever before
N the history OF the company. Some
"' TINS stock was bought at higher
prices and some at lower and the
general feeling TX that. with the com
pany's very strong cash position, tho
. per cent dividend will be continued
until business again picks up and
mat when normal conditions do re-
turn. the price will be higher. In
other words. the holders of steel com
mon seem Willing TO hold on what
ever happens In the near future in
the way OF trade Developments Ana
pie waiting for the stock To decline.
IN order 10 buy. IL for a long pull.
Under such conditions II liz not eur
prlsing that the s,ock acts as II does.
ltnils Give Good Account.
Nor !B IL surprising that the rails
Shouih be giving good account OF
ihemscives. Al tciay's opening prices
Atchihon offered an Income return OF
81 per cent: Illinois Central. IL.
southern Pacific, -. Union Pacific,
-: Northern Pacific. SIS: Great North
"rn 81 In the best banking cir
'l"S here. II is confidently believed
mat money IL going To continue to
work easier. that |, ~ only "a question
~ tim" untIl tho bond market at its
present rate OF activity works into
such hIgh ground that idi" capital
awaiting Investment viii turn TO the
'easoncd dividend paying rails for
speculative AZ w.ii as iuvcstUcn, re-
turns.
number Of railway earnings
statements for October were made
l'ublic today. Atchison showed gross
OF 322.a30 .0G0. a decrease OF 32.i7S,-
zoe compared with last year. but net
opeiatins incpmc OF s5.as7.o0o. .
gain ": $4,000. For .he ten months
cross amounting to tl9e.:I0.0o9 Gas
.oTr Sit,5s, .Go0. but despite tn;s
i"SS in gross, net operating income
800 XII W fN,'NNsvNN. sNlU'1hI re-
ports were published ny Ncw Haven,
lock Island. Baltimore and ohio. -.
raul, Norfolk and Western and New
York Central.
Srnh"ard nuys Equipment.
S"aboard Air Lin. has placed an
order ith Tho American Locomotive
Company Tor. 3l.25O,0Op worth OF
equipment. y number Of other rail
roads are in the market for new
equipment. a condition that IS help
iUg both the steel and the railway
equipment companies.
over SUNDAY gold arrived here TO
th' amount OF over si.oGo,Ooo.
call money oocncd at and then
dropped to 1 -. Time mcncy was
Quoted ut : per cert. This easing ur
time money was again reelected in
She bond market. eUuc heavy trans
actions occurring In the rails and in
The government Issues.
There was buying Of Adams TX
lrcss today on rumorS that the stock
IS TO BE put on ) per cent dividend
oasis.
According to ru,nom heard in
banking circles today. an extra divi-
deHd Of II per cent viii b. declared
by burlington within tn. next few
bays. This viii remove all doubt aa
and Northern Pacific viii declare
,hcir regular quarterly "a per cent
next month.