Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-18
RAILROAD SHARES GAIN
AFTER FREIGHT RATE CUT
Traders in Market on Sllor,
Side Are Beginning to
Get Nervous.
Spot Ituhhrr Advances and it Is Re-
ported TIRE Companies Are Again
PurrhnsinE-StorI Exchange Seat
Nets 5000.

iy ". D.. Bnrnum.
NEW YORK. Nov. l7.-Trai.rs In
tho stock market who mad" money
easily on the shor, side Tor Two
years and VIII" are stiIl hcarish ar"
beginning 10 get nervous over Ia"
way tho market is acting. Since the
reaction OF last Monday the trend
has been steadily upward. Bnnks
aud stock exchange houses here Say
ina, shipments Of Investment s"cu-
ritios To the interior hay. been
heavier during the past week thon
In many "a long month. individuals.
corporations and banks are putting
idlc funds into Investment securities
whcr" the income return Is much
higher than ia. prevailing rate for
money, and th" securities thus pur-
chased are being taken out of the
market on the belief that money Will
work easier. and consequently prices
for good bonds and stocks Will 70
higher
Hallway shares again gave II good
account OF themselves. tho consensus
hero today hcluE that the unexpected
10 per cent cut In farm product
freight rates VIII make friends for
the carriers without the loss OF much
money Attention also was direct
I'D TO the sails ny the dividend action
OF two companies. Cincinnati. Scw
Orleans ana Texas known as the
r. 1tra dividend OF , l2 per cent on
Its common stock. Ia addition 10 the
regular scmi-annual per cent. and
Hooking valley resumed payments.
declaring 2 per cent. The company
last named passed its dividend last
juno. together with Chesapeake and
Ohio. with which Il liz connected. d.
rectorR OF Chesapeake and Ohio meet
tomorrow. and II would not bc sur
prising To Gee that company resume
dividend payments. Chesapeake and
Ohio for tho past year has earned
moro than tho per cent dividend
II was paying twice over. when
payments were suspended last June
President IIarahan said that diY.-
dends would be resumed m soon As
the general outlook became clearer.
For the year ended December 81 last
the CheHapcnk" and Ohio earned ?.53
per cent for itH I62.70o.0oo stock. all
ono class. This year tho company
VIII do better than last.
Hond. tn Bc Absorbed.
Kansas City Southern, according TO
talk in banking circles here. lis go
ing TO wind up a. part of the Union
Pacific syEtcm: Colorado and South
oru VIII lose III identity ~ becoming
part OF ono OF tho Hill roads, possibly
Northern Pacific. and other similar
railway mergers are being discussed
Under the new transportation act, Il
railroad earning more than Pc
cent on It's property account must
aftcr establishing IL certain perccn-
taGe for profit and loss surplus to
take care OF unoarncd dividends IN
lean years, divide all surplus equally
with "a general fund. by taking over
weaker roads strong roads can thus
increase their property account and
pun down the earnings which in good
pears must be turned over to tho
general fund.
copper advanced another fraction
oday to Ii l-2 cents pound for
December delivery. and II SIS for
january. One largo consumer has
purchased 100000 pounds OF cop
per within the past two days.
spot Rubber sold at Is "a cents
today. up a cent within the past week.
with February and Marsh at 10 81
and April TO Juno at 20 "a. The
tire companies. II Is reported. have
used up their accumulated stocks
and aro again In the market
International Paper WAS strong and
active today. Shipments Of paper
for this country and Canada for Oc-
tober. according to tndays informa-
ton. exceeded production by S.52l
tons Compared with September
shipments or the mills Increased I6
per cont with production up only 8
per cent
Sent Sells for $4,000.
A Stock EKcnnEc seat changed
hands today for $4,000. This Is an
increase OF $4,000 over the last trans
action.
Insiders In Seneca Copper say the
strength In that stock can be attrih-
uted to the fact that the cost OF
production in only IA cents. max
ing n profit OF $40 share per an
Rnum with copper ut its present SELL
,ing price This new company more
sovcr. II Is pointed out, has no ac-
formulated high production cost cop
per 10 get rid or Seneca was formed
TOO late In get under way before tho
trade depression set in
II appears from today's statcincn n,
from the Interstate Commerce Com
OMISSION covering the August earn
Wings of CT telephone companies that
isubscribcrs TO the Offering OF bonds
tmade couple OF daya ago knew wha,
they were about. This Offering of
pS50, 100000 bonds was ovcrsubsc;be,,
ten Times according Ia the latest fig
iireS- "cdaJ'S earnings Statement eor
tac q companies shows gross fo-
August III st5.ls2.0o0, an increasc
of S4.26a,0oo compared with the samc
month last gear with net operating
Income 5000, n gain OF Sc.ois
600. For the eight months rros,
amounting TO sa5i.5i3.ooo was large
by s5s.oss.ooo. while net operating
income OF SIo.755.o0o was UP Sl7,si3.-