Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-15
AUTO SHARES GAIN ON
DIVIDEND announcement
Rails Soft on Opening of
Hearing Before Com
mcrce Commission.
NANDEnnILT RAILROADS MEET
IRON and steel Trnir states Year
fnu busIncss IL In Evidence.
Government Bonds strong ON
stock Market.
Uy II. l.. Hnrniini.

NEW YORK. bee. li.-ChanIler
had the widest pric. movement OF
any stock today. thos. shares i,i,np-
ing uc from IS i around noon to ~
on The announcement that the rcgu-
lar - per cent quarterly dividend
had been declared. This represented
an advance Of over s points from tho
""ck's low. mad" on rufnOrs that ia.
dividend would ho reduced II was
not chrncd. but VIII lac paid ont Of
accumulated surplus. and the dlrcc-
tors are confident Of the future.
Stndchak"r joined in the upward
movement or Chandler.
Rails were soft on the opening OF
tue hearing before tile Interstate
Commerce Comm !ssion TO determine"
whether rates can safely b. reduced
AN dw hat should be- earned by tn"
carriers on their property account
after March !, next. when the 6 per
cent claus" of the new transportation
act expires. over 800 hundred rail
way officials and experts Appeared
before the Interstate Commerce Com
mission to testify. The carriers viii
b" heard until December q. when
There VIII be an adjournment until
February 3. Then there viii he a
crosse IMITATION Of their testimony.
BefOr" the Adjournment on DCccm-
for the hearing OF shippers. No date
has been liked for the closing OF the
hearing. but undoubtedly II will be
In time to reach "a decision bcfor.
March !.
Vanderbilt Roads Meet.
Directors OF the Vanderbilt Rail
roads held their dividend meetings
today. The regular ! Ia per cent
quarterly payment was declared on
New York Central. Michigan Cen
trail. which has paid per cent al
ready this year and which has paid
per cent per annum FOR several
years past, declared per cent. max
ing per cent for this year. Big
-Four declared Its regular quarterly
! 1t per cent.
Directors Of tho Prairie OH e Gas
Company met and declared nm extra
dividend OF per cent. In addition TO
the regular quarterly per cent
Employees OF the East River Ma
,ional Bank VIII get "A Christmas
bond Of 10 per cent OF their annual
salary. according TO action taken by
the directors OF that institution to-
day.
The National City Bank Will on Jan
uhry take over the Paris Branch
81 the Farmers Loan and Trust Com
pany.
Copper dealers report that there
is little or no metal 10 be had in
the market today at "a cents and that
~ l-2 cents is being quoted for
January deliveries.
Government Iionds strong.
Today's weekly review OF the iron
and steel trade states that year-cnd
business Is in evidence. producers be-
Ing more inclined to shade prices to
strengthen their cash holdings for
their annual reports. while con-
spnerK are keeping Inventories down
TO make good year END showing.
This situation. II was reported. has
created fresh uncertainty as to prices
for increased business expected after
III" turn OF the year.
Western Union published lis earn
!ngs today for October. showing gross
at s9.uJj.JOO. Il decrease OF Sl.3G0 600
compared with tho snna month OF
last year, ana operating income at
si,l79.000. IA decrease OF &2s3OO0: for
IN" ten months gross was sST.245.OGO.
:. decrease OF sl3.525.0o0. and operat-
ing income was sl0.977.000. down t3,-
$4,000. Western Unions earnings re-
!cct the condition OF trade in gem
crai
Government bonds were strong to-
day. In some quarters Il was ex-
pectcd that after the close Of business
the Federal Reserve Bank directors
would announce another cut in the
rcdiscount rate. However. Wall Street
was by no means confident as il was
week ago that the rate would be
cut before early in 1922. Call money
opened at per cent and dropped to
l-2. 1t seems. however. that "a
soon as the cal lrate begins To drnD