Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-07-14
CAPITAL REIMBURSEMENT
BOOSTS FEW |NDUSTR|ALs
North American Up Three Points.
Other Shares Show
Gains.
AUTOMOBILE STOCKS ARE OFF
Register Losses OF From One TO
Two Points--I'ittsburgl, Coal
Down Two Points and General
Electric and Louisville Four.
AUTOMOBILE STOCKS ARE OFF
Uy u. T.. ISnrntIin 1.

NEW YORK. July l3.-North
American was up three points today
on the forthcoming readjustmcn, Of
capital. and gains were reported In
few other shn res. Losses OF from
one TO two points occurred in tho au-
tomobiio shares. Pittsburgh coal was
Gow n two points and General Electric
and Louisville four Outside OF
Northern Pacific. which lost over q
point on rumors from tho northwest
OF dr"uth the rails held steady
Losses OF point or more were re-
ported In the stcc! shares. Trading
vas again very quiet.
In Wow of the Jun" quarter earn
ings about 80 be reported ~ the steel
corporation ana other Etcoi com
ranics and known conditions In mo
Hie"I trade. unusual attention was
paid To ;uday's I.ackawunna steel ro-
port FOR Ia" three months ending
June 81. There was an operating do
hcit OF 3dai,"00. compared with net
earnings OF t2.7s6. 900 for the CORE
Spondin. period last year
Stuck shows Depreciation.
After depreciation. there was a de-
mott Of E933.OOO. against "A balance
year ago Of S1,s6I.ooO. For the ha 2
year. not amounted To SeS2 600. com
pared with y3l23,Oc0 FOR the nrgt six
months Of 1920. After depreciation
tor the first six months OF 1921. there
vas deficit Of fJTi.O0O. against a
ra!ancc for the same period last year
Of sl,i32.ooo,
Wall street is prepared To SEQ
MiRalc. Republic. and even the Steel
I'rnorat'on' show deficit after
operating expenses or dividends for
inc Jun" quarter. II is being pre-
dici"d that tn" steel Corporation viii
show ITS common dividend nearly
armed. Bcthichan. 1t is believed.
IS tho ono exception. that conp,uy
earning It's dividends for tho nrs,
han Of 1921. largely ont of shlpbu!!d-
Ing.
american T"hncc" Declares dividend
American tobacco declared spc-
cial dividend Of 3 80 per cn- tod. y
on It's common and common II stock
IN stock Of the Mcnr"l Box Connany
10 dividends arc now hoing paid on
IN" McnEcl common srpck Ru, tho
company has earned. during tho ia u
'hTcc years. on an average OF SIS ;,
share u has a dividend rccord on
the common shares from 1913 back TO
l'-V. ranging from . per cent pc-
annun 10 % per cent. American to-
nacco also announced today thar i,
would cali FOR redemption the $3.50
GOO notes which arc not due until M
remh"r - al! Of the company's $40.
100000 bank loans hav" neon paid on,
and the cash in bank now amounts 10
tlo.0O0.O0O
Pacific Coast passed tho quarterly
dividend OF IL per cent on its
second preferred stock. The PITTS
hurgh Gas Company passed the
IL IL quarterly dividend on its
stock
Cold Arrives on MHuretania.
a shipment Of l.ll7.0o0 pounds Of
gold arrived here today on the
Maurctania.
on Friday ot this week the Federal
Reserve BANK hero Will withdraw
'S6.ooo 900 from the banks In this dis
,ric,. Tho money is 10 To used by
the government 10 pay OF $4,000.
600 certificates OF Indebtedness ma
turing July Is.
TOdays cables from Havana lndi-
cate that rehabilitation mea sUrcs viii
he rushed AZ the special session OF
Congress Oh July is and that the
Cuban government might ask for a
loan here OF S7j,00n.0GO. Financing
~ our own sugar companies is he-
ing discussed here with such loans
10 he underwr!ttcn rs strong banking
interests. An interesting sii.lisht
IN the cuban situation Is disclosed
by tho formation hcrsnf tn" Cuban
cotton textile creditors protective
committee TO look after $4,000. N0O
credits advanced by New York tex
tile mercha n,s alone to Cuban mcr-
chants.