Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-27
INOUSTR|ALS HAVE GOOD
DAY IN NEW YORK MARKET
Rails Being Boush, and TAX
en- Off Wall Street in Large
Numbers.
UONDS COSTIN NUE. ACTIVE
German Mnrkr HIVE Sensational
Irrnk In Morning Session I" 81 ~.
which I;stnbiishcs New Low Rec
ord for All Time.
HONDs CONTIN A
ACTIVE:
Iiy u. T.. Dnrn,r,n.

recent advance offered them for sale
today on all rallies However. the
market for these shares acted vcry
well In the rails Their. was Il good
demand The buying now going on
in rails Is very different from that
witnessed aj this time last year. Last
autumn pools put up the low priced
rails. Today sound Investment stocks
like Illinois Central. Southern Pacific.
Union Pacific, AtchisOn. Northern ia
ci1c are bcing bought and taken out
o. the market on the belief that with
patience large profits VIII be shown.
Publishes Final Statement.
To-day the Interstate Commerce
Commission published it's final state
mont or railway earnings for July
showing gross at s4G2 600, 900 against
:523.0oc.o00 "a year ago. q decrease OF
sG7.OOO.0OO. But net operating income
Islands ut SGe,258.o00 against last
years dcnci, Of yl2,053.O00. For the
seven months gross amounting TO So
I3S,0oo.0O0 shows loss of sl3l.O0o.-
600. hut net Income stands at S2i3.-
600. 900 against last years deficit OF
S2.007.0c0.
on top Of ,Nls ~ory favorable state
meni there was another !nstnIlment
OF individual railway reports for Au-
gust Lackawanun shows gross Of
1880 oo9 against s7G2gOOO. ard net
operating Income OF 81 aa7.ooo against
las, year. Gcfcit Of ;l23-oo0 For
the eight months net operating. tn
come was I789i.ooO. against last
years deficit OF s3Sl. 900.
baltimore shows increase.
Baltimore shows tiT.G3a. 600 gross
for August against Ilo.lil,Ooo last
year with net operating income OF
s2F5s.ocO against last years deficit OF
S6Gca 900 For the eight months not
operating income was l22l5,600
against last years deficit o. Sll.ii3.-
COO
Pennsylvania reports gross Of :i2.-
$4,000 against I5l.67l,o 900. and net
operating income Of sisl 5000 against
las, years dcncit 0: .27S3j 600. For
the eight months nc, operating In
come 500 $4,000 against last
years deficit Of 100000 900.
shipment ot $2.5oo00O gold ar
rived today on the Cedric
Carl II Gray. presiden, o: Union IA
ciac, has this to say 81 the general
outlook 'Bus!ncss is getting better
and think We scrapcd bottom soint
time ago 20 far as trade depression Is
concerned. From now on think
business vlll be better" Gray is out
on the road on an Inspection trip.
should Follow Engiand's Example.
i wall street banker returning to-
day from trip abroad Is OF the i'm
preston that n great mistake Is be
ing made in this country by not fol-
having the example OF England In
Informing labor just what Germany
is doing to ind markets for her prod
nets 10 says Germany today be-
causo Of her low tabor cost is selling
chalk for example laid down In Eng
land .or the bare price or our con-
talncrs Steel hammers mace IN Ger
many nc says. are being sold in Eng
lama sor II cents. whereas our manu-
featuring cos, TOR the same article is
A. cents These facts are being told
,l.irlv 10 the labor!nG man in Eng
innd ne SAYS. whereas in ms conn
,rv what we appear 70 be doing ~
irving TO protect tabor by n hisA
tariff. ~ e
punors were heard In Wall street
,o5ny tina, for the month OF Scptem
bcr tho steel Corporation would re-
mort .n increase In untitled orders.
The reports Will be given out on &c
tober 10. The company has not re-
ported an Increase in its monthly or
,lcry since July OF last year
,r,,orc was. a good market for
honds today. new high record for the
wear being made for several lAbef'E
issues. and for number OF T"' way
issues This buying movement Is
rnscd on easier money II is figured
l,y wise investors that il will only be
= matter Of a short time nutii nigh
class Investment securities purchased
AT current prices will hc worth more
than the prevailing rate today Tor
money.
Marks Have Mig Break.
German marks had sensational
break at the opening OF the market
here this morning 10 81 l-2. new
low record for all time. This means
S.00sf l-2 against par OF ~ $40
cents. One prominent man after an
q abroad
the prediction OF bankruptcy for Ger
many. Today Colonel Isaac Lewis.
the inventor OF the gun which bears
his name. returned on the Cedric.
lie says: Germany will not pay her
second indemnity when 1t becomes
due because she has nothing with
which tn pay IL. She will collapse
utterly within the next six months"
This view however, Is not held by
our best informed bankers here. If
Germany defaults She knows that
France will be on her back immcdi-
atcly. taking everything movable In
such quarters IL was pointed out to-
day that the renewed decline in
German marks was due purely TO
recent heavy purchases here OF meat,
grain and cotton and largely To nay
lncnts of short term credits made in
Holland and elsewhere to meet the
recent rcpaTations payments. or
course. depreciation OF German cur
rcncy must continue with these re-
puration payments. But the renewed
decline in marks, ii is believed does
not roreshadow immediate serious
trouble.
For the frs, time since last June
the weekly output Of soft coal shows
over S.O0O.0 tons the figures for
September H. compared with the
previous fun week bC~s $4,000
tons. an Increase Of $4,000 tons.
There is no question but that soft
coal production reflects general trade
conditions. For 1907 the figures wcro
39i.ho0O00 tons: for 1908, only 332,-
100000: for 1913. they were i7S.on0,-
600. and for 1914, only i22 100000:
for 1913 they were 579.000,0 900. and
for 1919. only 5000. 900.