Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-07
|AAKET HAS QU|ETEsT
|sEss:cN IN over MONTH
Fitomobile Shares Lead Trad.
ing With Studebaker and
Chandler Ahead.
INTER nuLLNEss SHOWING
aE Makes New HIkh-Itccord for
lar una Francs Take Jump With
"AkhnE Fluctuations In Marks,
By Il. l.. Darnun.

By Il. l.. Darnum,
NEW YORK, Dec. C.-Outsido OF
automobile shares, which were
long under tho leadership Jof
uaeoakcr and Chandler. the stocls
Nhet was quietcr today than 1T
time In over II month Tho up
cru price movement seems TO have
me To halt for tho time-being
VI the nigh for ATTY stocks. twenty
rails. and twenty-five industrials,
an average OF Gs.S7 ON December
Ihat price compares with the
lsh for the year of 72.l3 made on
~ q. There was signs today that
NC trades with profits wcre afraid
ey mad overataycd their market.
H,s OF winter dulncss In general
ahe, especially In steel, arc In
Passing and II Will take some de-
iHFc development In tho money
''net 10 again start security prices
f"afd In some banking circles
paiief was expressed today that
expected reduction in the redis-
unit ratio might come sooner than
f'cembcr II. that II might come this
enncsdny TO give the money mar
II chance To adjust itself to {.
1"cr rate before the treasury docs
H"h''iHB Ou DcCeHlDer IL.
sterling Takes Jump.
STERLING made new high record
r. the year today, and francs made
high for this movement. How
or, the fluctuations In marks
f"wea that traders wero puzzled
Tor how to take the latest cables
va from abroad regarding Ger
my. From the cables II scems that
ancc and England are closer to-
ther on an understanding which
II give Germany n br>athinE spell
the reparation pnymesss. This
derstandins no doubt VA DO
lped along by the weekly state
4tnt OF the Rcichsbank showing an
|Hrcase ~ 100000 marks To new
sh record, tho increase being due
selling by Germany In taking adj
n'agc of the recent rise in marks
raise money for the January IL
ymcnt.
Ms for our part, a etoryi Ia going
IL rounds hero that "A German loan
To be Heated. with tho proceeds
81 partly for rGparatlOn payments.
|cord!ng 10 this story, this loan is
y 70 he put out by the government
taken by the banks, but placed In
|e hands Of American investors. the
|curity to &c i pledge on German
dustries to be released by the ropa-
lions commission.
IAN Offering OF tl5.0oo.o0o Union
l.cifc bonds at n very low income
turn Is expected before the end
this week. Proceeds will! be used
take cars OF tlt.9SI.00o Oregon
ort limo Us falling due next Feb
AIRY.
a sixty-day loan, secured by Liber-
bonds. was made today at 5-s.
ais is tho lowest. interest rate quoted
nee the autumn Of 1917. CAN money
lied ut Ia per cent.
|, Declares Quarterly Dividend.
Goose Wi!es declared the regular
as quarterly dividend on the first
'efsrred stock today. and il.75 on
81 second preferred. rs back pay
ent covering the period from Feb
AIRY J. 1917. 10 May I. 1917.
Stockholders of Wilson and Com
my today authorized the directors
tho company 10 issue sio.l25.00
n.ycar ! per cent convertible bonds.
uthoriiy was also given TO increase
&c STOCK t. 100000 shares TO take
re OF tho bonds.
Wal! St.cet was greatly interested
=
essage 10 Congress. recommending
! amendment 10 the Constitution
.Ohibitlng issuance Of tax exempt
lnds ny States and cities. This move
az been proposed time and time
gain. because il was realized that
CHI men not only escaped income
.Ncs by buyine bonds OF this class.
II That such buying diverted capital
ON Investments that would help
.nesal business. OF course. ii takes
year To get through all amendment
the Constitution even where there
no opposition. There will be to
i+s one. ana the sooner start is
AIDE the better.
st. Paul made its now low record
u the year OF rumors that the com
any would not he able TO pay It's
arch !, interest An official of tho
,mpany says that there is no inter-
It due March /: that there is IN
.tcrest payment due before that day
hlch will be met. 7: was further OK
aimed that the company has s25.-
10. 900 government loan maturing
arch l. But wall Street bankers
.lieyc that il the company cannot
isc the money required in the open
arkct. this loan will he renewed.
fter years of elaboration on the
art Of II. III. Rogers. William Rookie
Her. Ogden Armour and other men
: the same type on the board. st.
null made it's decision In 1906 TO
iild To the Pacific Coast. The cost
as more than was originally figured,
,rtly because the cost of money in
he open market for all borrowers
ept advancing. Then, after this new
ileago was built and profitable
.afic began 10 appear. the war
arted and tile government took over
e railroads. st. Paul suffering more
AN its competitors because of d.
,rtcd traffic during Federal control.
ut for the long pull. st. Paul made