Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-10
FTER[INC DOWN s CENTS
AS STOCK MARKET OPENS
f'Achange on France and Other
Countries Week.-Mrs. Marked
Effect on Wall Street.
dis AND srEELs DECLINE
eluitania Due In Port Saturday
With $7,0OO,O Gold Aboard.
Largest Single Shipment In Some
Months.
Iix II L. nnrnnu,

by ~ IL. Bnrnuui.
NEW YORK. June 3.--Stcrling was
own another cents NJ the opening
ms morning, making the decline for
week 20 cents Exchange on Franco
hu other countries was also wcak
ms had its effect on the stock mar.
az. which showed further dcc,ines OF
rom to points or more in III.
rs' hair hour. the oil and stccls
'einE particularly weak. Then mere
AK was hoard or troublesome ccn-
ierclal loans. Tn. facts are tina,
he June Is tax payments ana tn
markets. for foreign exchange. stocks
ma bonds. money aud merchandise
re all tied up together win frozen
ommcrcial credit in the middle of tho
'afly tangled knot
wnl street Discusses Losses.
Today Wall street was talking
bout the losses which a number OF
ocai ami Western banks are writing
III because OF loans made 70 COM
,any that thought II couid cornc-
ne FUR market. These loans. which
eli due within the past few days
amounting 10 some sii,O00.0OO. orig
hhily amounted Ia some $40 900. 0no
h"y were secured by furs Tn. furs
rave been taken over and soni- ot
mem sold for paper Until this 7rrC-
'omcs due tho exact losses cannot nc
'''''''s INV SDIll' %. lns
ranks are now writing of from 81
o 50 per cent Of their participation
tnis undertaking.
ihtil the liquidation now gong M
IN result OF these and other ,rou-
Picspme frozen" commercial is con
indcd the stock market Is going TO
onunnc weak and depressed low
Yer, this much can be taken az worth
|, hundred cents on tho dollar: there
n, ~. "a,
he recent heavy liquidation when
here VAS the slightest chance Of any
ferious banking trouble. And there
4is not the slightest chance that here
VIII be any trouble outside OF tue
! osscs that are to be- written OF from
Rccnmuiatcd profits and probably
some changes In bank officials.
Rcpnr. ON Coal strike.
What the coal strike has done 10
England's foreign trade was shown
Ihy, today ~ rabi" Information showing
the c"untry's imports for MAY s6.3DS.
coo mounds. loss OF sl.02j. 900 pounds
|!7St year. with exports i3.0ss, 0on
In"inds. "a loss OF 1921 .tu0. For tn.
ffEe months Of this year imports were
So{J. Gut,oOO pounds down $50. 600. 600.
with exports 100000. o0e down 1871
Oot 600
The Aquitania will 'and this Satur-
day with ST.0Ga.Oo0 gold aboard. This
is the largest single shipment sent
|oTcr in "a long time
During the month OF May tn"
Treasury Department reduced ,he
governments outstanding war bonds
|hS t4o.Sii,oH0. OF which St7.lS6.100
were Victory notes. These are ucinE
l~uigh, because Of their early mt,.i--
~. This viii lessen the '"'und:nv
pEphlcms Of the Treasury. The year =
Purchases OF war bonds for re'iro-
irent amounted zap Ia the enl 81 May
I'D, SsS1,t1c.uOD
|, S;ccl common made "A new low for
w, year during the early trading.
1ntc high for the year was made May
6, ~ s. 10
- Chalmers Publishes Earnings.
Chalmers made public It's
cDtnIngs ana untitled orders Tor me
ilIft quarter Of 1921, and ihc figures
attracted unusual attention because
81. known conditions In the trad: and
tbr untitled order statement OF the
Sit.l Corporation TO be given out n
MON tomorrow. Sales billet this year
Amounted TO sT65s. oo0, against
s6,320.ou0 for the first three months
oC,last wear hut tho io.a.s we're ar
rived at by different rou:"S. TINS
year's sales shows s2.Si6 900 for Ian
uI.Ey. S2.Jra,NO0 fnr February. se"-',-
oot for March, whereas last year was
si.SG7 900. February, S2.l6I.0oo;
March. S2.22o.o00. Net PROFITS after
takes for first quarter of this year
,Scr. s57i,oh0. against $4,000 for
the same period last year. On Mach
3liunfllcd orders stood at Sl2 ai3.0no.
against ,l7,oi6."0O for the same day
las, ycnr and sla.i22.ho0 in 1910
sHcavy buying al the new Treasury.
SO. per cent threc-ycnr notes ny W
svyance companies. savings banks and
WEALTHY individuals continues. with
ptospects OF large ovcrsubscription
hhfor, the end of week. The new
81 90 G1o. 900 S per cent French bonds
Offered two weeks ago are not all
sbId