Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-19
!. & 0. DIRECTORS
RESUME DIVIDENDS
Declare 2 Per Cent Payment,
Which Puts Stock Back on
4 Per Cent Basis.
'rnEn STOCKS Anr LOWER
Inc Money Lonns Again mt . Per
Cent, itnnkcrs Explaining That
War Piper In New York Amounts
10 Only G,OOI .GO0.


NEW YORK. Nov. l8.--Stocks
pencd lower this morning on the
ews that decision had been
cached by those in Congress and
O. he Senate. in charge Of the pending
AK bNl. TO override President Ward
3is'S recommendation that the sur:ax'
made 40 per cent. IL. commenting
iday on the dcCinion 10 make tins
~ ," per cent. one Of the leading
Iankcrs In Wall Street said: The
frciLn delegates ~ the arms limita
ON conference must have very
ocular opinion OF those who reject
Ne Plea of the President 10 com
rVrni-e on the sprtaS on the grounds
nat II viii rcsuit in the opening OF!
lauucls Of Industry and give en-
loymcnt to millions Of men out Uf
ork. one can easily see that in
tstirg their votes congressman
bought more ot their jobs than
bout creating legislation To help
rslncss"
Then Judge Gary. chairman Of the
tee! Corporation. made his speech
eiorc the American Iron and steel
Institute, and that left a bad taste in
all Streets mouth The Judge said
vat iursni: the past ak months gem
-al t:adc and financial conditions
pa steadily. but slowly. improved.
IA we hal passed the critical pc
Od. but that We have not arrived
tho point where the time can be
lcUratcly predicted when there Will
:. return 10 normal. He added that
10 economic structure OF the world
al received Il ,crrihl" shaking in
cent Gears. and that In this country
l"rc must be further reduction in
10 cost az living and In wages IN
rtain iucs.
prIc-s Begin Ia Advance.
However. after the carly declines
tho stock marie; it became APP
trent ;hat there were no stocks FOR
L. nj N" "v!s,ing prlccs. Then
Ices begun 10 advance. intcrna
onal mercantile shares were very
,ivn. with sharp advances on ru-
ors tina, the company Was about 20
ceivc S.5.ooG.oop from the Shipping
bard in settlement % ~ claims.
"s" ruTlurS were d'r I'd a; Wash
:'un. bat THESE and other shipping
ares continued TO advance.
'h"Spp'akc and Onto directors me;
lay aud rcsincd dividcnds. do
trins per cent which ~ under.
ond 20 pu. the stock on a { per
q; ba,lF. where 81 WIS. After Tho
Setting. President Iinrahau said. u
ot 'ur further Improvement In gen
~ trade which win mean larger
rnirgs for the railroads. but |
NIX ihr Improvement VIII be grad
during The winter months. Things
steadily Eat;iuE D"ticr and ""
nuid h.iirv" and look for better
g"s.' Ch"sapoak. and Ohio shares
Id new nigh record FOR this
'Ncment on IN" iorcgoln; news.
rru"ibic nusIn-,, had.
'rucihlr hal ia annual meeting Of
.cNhr!d"rs today. IT was Officially
,tci tHai business for tho year w
Augusta !. had been pretty had.
- "af added that since ;hcn
ere had hccn It turn for the bet
II WAS stated ibh, the company
making proBr"ss In getting its
Grating costs down: that anly 3
cent ~ It's tonnage was for tho
nNiaat urc az MAR materials that
ooVrpp notes had been paid on
i MONTH and that another 81 600, :
wpulh b" paid on ,his month.
iin" money loaned II per cent
ain today. Eankcrs explained that
war pUncr Of member banks held
Tho Fcd"rnl Reserve Bank horc.
" Amounted To only SsG,Ogl. 600.
It commercial paper discounts had
lined from seats. 600 to sy..-
600.
hartman Gary Of tho steel corpor-
on who has Just returned from
Sioo. had a good word ia say toda :
Mexico ia talking with the steel
pplc. Afterwards Mexican : per
lt bonds advanced points. and
H. two points
'icrc" oil was another very active
eek. with prices advancing. y vice.
'sidcn, Of the company denied that
nrJ' clay Pierce had los, control
the company. In banking cir
s. isrw"vcr. the only comment on
N denial was: Wait ana see what
lppcns."
~ was learned ia banking circles
Play that some OF the large sub
ribcrs To the recently ovcrsub-
'ribcd New YORK telephone bond is-
10 were in trouble Thinking they
ouid get their bonds these sub
ribcrs sold ON tho Curb Market.
18th the subscribers for $4,000 an,!
yer. getting only per cent, there
some tail hustl!ur about to get
Inds TO cover those sold This ac-
units partly for the sharp upturn
the price