Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-10
GOTHAM STOCK MARKET
AGAIN SHOWS Weakness
General Belief Is That Lower
Prices Will Prevail Be-
fore January /.
IRON AND STEEL PRICES UP
Eight Principal Products Now
Selling nj Average Price of S44.07
Fer Ton Against $3.50 Month
Ago.
IRON AND STEEL PRICES Ur
uy II. l.. BaruUu.

NEW YORK, Dec. 9.-Today's
STOCK market again showed signs Of
weakness. a number OF people In
wall street who have no personal In
tercst In the stock market. and are
able therefore to Judge IL fairly. are
Of the belief that lower prices Will
30 Witnessed probably before the
end OF this year. and II not then, be-
for. the end OF the FIRST quarter OF
1922.
According to London cables. Lloyd
George has Invited Premier BRAND
10 London to n conference on world
economics. Secretary Mellon has
also been invited. lSut today's wash
ing;on dispatches indicate that Mr..
Mellon Will not accept. Before the
disarmament conference started CT
forts were made 10 have world
economies discussed at tina. meet
ing. but President Harding and
Secretary Hughes objected on the
grounds that disarmament might be
sidetracked. II now looks like the
conference to discuss world eco
Monies is going To be held In Lon
don. II 80. OF course, this country
wii! have II representative.
Receiver Appointed.
\ receiver Was appointed today for
the rathc Frercs PhonoEraph Co.
one OF the largest manufacturers Of
monographs and records in the
country.
Call money opened n, 8 l-2 per
cent today. and time money was
quoted at to 1t Bankers here
expect the money market to remain
unsettled FOR the rcst Of this yclE
and then work easier.
Henry Ford haa promised the In
tcrstatc Commerce Commission that
no will submit in the very near Ia
tnrc detailed earning. statements Of
tho Detroit. Toledo and lrunton
Railroad for September and October
Ford has decided to eliminate these
statements as being unnecessary.
Tho commission rightly decided
otherwise wall street made no cf-
for, today To hide It's delight over
the fact that Ford had been made
TO come down" Ford !s hardly 4
iavoritc In Wall street.
Iron md steel Prices Up.
Eight principal iron and steel
products arc now selling 1t AN
average price OF &4i.s7 q ton. against
i53a a month ago. is5.03 the high
for 1920. $ii3 the high wartime
price and $3.50 in August OF 1913.
steel men here are not encouraged
over the outlook for the immediate
future.
some copper, for delivery during
the first quarter OF i322 has been
sold at ~ cents. In August the
price was 1897. Since September
there has been slow. but steady.
hardening OF price. In January.
1913. the price was II cents. AT this
time In 1916 II was 2Sl-2 cents.
y president OF one OF the indie
pendent steel companies interested
IN the proposed merger says there
are no plans under way. ns rumored.
10 take over a number OF Independent
coal properties. He says, however.
,hat different committees are now
appraising the coal and iron prop
crtles owned by the Interested steel
companies. and tina; the reports will
be completed before the end of this
var.
since August I the Shipping Board
has tied up 900 vessels. making the
number now Idle 1901. including
l,oaS steel and 2GS wooden.
subscriptions for the $4,000. 900
Union Pacific bonds offered on a
t4o basis. foot W 1850. 100000. This
docs not look like Investors had any
doubts over the future Of we'll
managed railroads.