Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-23
STREAM OF GOLD ARRIVES
IN AMERICA FROM ABROAD
Kuhn, Loeb 81 Co., NationaI City
Bank and Others Import Much
OF Precious Metal.
HARDING SUMMONS BANKERS
Will Talk Over Domestic Situation
and Promote Co-Opcratiun Br-
tween Administration and Coun-
try's Financial Interests.
HARDING SUMMONS BANKERS
lfy IL. l.. Ifnrnlp,


NEW YORK. June 22-priccs on
m" stock exchange advanced dur.n.
IN" nrst hour l'roft-taking was fol
iow"i by further advance. Later
selling was resumed on announce
mcnt that the Panhandle dividend
had been deferred untn later I'm In.
year. when results OF the wage Gu,
and ahroSation Of national working
agreements could he studied. together
with general conditions
PENNSYLVANIA Company declared It's
regular scmiannual per cent div
dcnd
when selling Was resumed during
ate trading. new low records were
made in wool. Chandler. Pierce Ar
r"*. common and preferred and sears
Eocbuck. Sears r;o.buck has SIC.
10000 Of it's taG.ovo.o GOO notes falun.
dn" October !. 1871. $1,000. 900 next
year. and the balance In 1873
H~ndlcy knight. accordin; to De
rot dispatches. has cut the pric. OF
us seven passenger cars from I2.as"
10 32,hJo. This makes "a reduction Of
500 since the pricc-cuttin- began.
Yesterdays recovery in industrial
shares was tn" largest advanc. in
any one day this year. with the OK
ccpuon of January IL
More Cold Arrives.
Cold IN The amount Of t3.265. o00 has
loft tn" other side consigned 10 Kuhu.
och & Co. This makes $40 $50 900
'ha, this private banking firm has
imported since the beginning. ~ this
year. Wall Street believes that these
gold shipments are for the account al
German clients. ono shipment Of
100000 gold arrival today from
nd
~crc received from sweden. Mexico
and Columbia. The National City
Bank has $500, 600 on the way from
Australia
Harding summon, Bankers.
Wall street learned today that
President Harding had invited twenty
prominent bankers to dine with hiu
tomorrow night. with the idea Of
talking over the domestic situation
and thus promoting cooperation be-
tween tho administration and the
country's nanciai and Industrial IN
tnrcsts 4 similar conference was
hold a fortnight ago. it viii he re-
called. AZ which the foreign situation
was discussed. At that conference.
IL was pointed GU, by the admins
tration that farmers were objcct,ur
10 the hirh Interest bearing foreign
!oans that were hcing made while
their applications for credit were he
inE ignored. one result OF this dis
ousSion was the $50, 600, 900 livc-stor.S
lean just. arranged by bankers h,:c
AFRO IL lac West.
rat plan Through speedily.
Another importan. development
growing out OF The con.crcnc. of :,
fortnight ago is the progress 'hat Is
being mad. in funding the 10000.
<I.,, Il ~i.l
"isn governments held BY our gov
eminent. when this guDja =, was mrs.
brought up for discussion with bank
crs. tho plan was - use tacsa tor
'irn loans as collateral for q nov
loan 10 be offered by our government
AT some time IN the iistan. :u,urc
the money raised in this way by our
government TO be used u mcrt It's
own maturing obligations. iacludlng
Liberty and Victory bonds. Bat
Secretary Mellon is now asking con
sreSS FOR power to negotiate FOR the
conversion OF the 100000 OOO de-
nand obligations Of foreign govern
mcnts held by our government into
bonds or notes bearing "a definite ma
iurity date. probably nftccn Years
u Is now understood that this plau
VIII be put through as speedily as
possible and that the new bonds Of
our government TO be secured by de-
post OF the fitecn-ycar notes or
bonds OF foreign governments. plus
the guarantee OF our own govern
ncnt, Will be marketed or exclaimed
for Liberty and Victory bonds as con
ditions permit. II is also understood
that the accumulated interest on tn,
Sl".0oO,coO,00G dcmand obligations of
foreign countries viii be worked into
higher interest on The new fifteen
wear bonds or notes. making the
Eonds 10 be offered by our govern
incht 10 tho American investing pub
lie more attractive.