Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-30
SUGAR Makes ADVANCE,
FIRST IN MANY MONTHS
Market Is Being Closely Watched to
Sec IL Bottom Has Been
Reached.
SEASON FOR HEAVY USE HERE
acGuitniia on Way over With
SI,o00,OO0 Goli-isad Order Cars
increase = Substantial Recovery
In Steel Railway Equipment.
SEASON FOR HEAVY USE HERE
l}y II. Iblrntifti.

Graz Motors We're especially strong
ON the basis Of the old shares. a rise
OF one point In General Motors today
ls equal tn ten points There was
heavy trading In this stock wall
street assumes that tho activity now
going on IN General Motors. with
prices advancing Is not without the
knowledge of J. l.. Morgan n com.
pany.
Today's iron age reports III it's
its weekly review Of trad. condi-
lions that there does not seem 10 nc
any basis for the rumors Of price.cut-
ting by the steel corporation on july
This company ana the indcpcn-
cents II w"s reported are simply
meeting competition ns IL appears
with prices sagging The most en-
""uraEing phase Of the situation this
authority says, IL the activity OF
President Harding In trying to ~, .
settlement between TIA" government;
and the railroads for the guaranteed
net income due the carriers Eric
has purchased ! 900 forty-ton frciyh,
cars from the Pressed Steel Car Com
pany. and other buying OF cquipmcnt
ana supplies IS expected immediately
after July /, II IL on these cxpecta-
mons thnt the steel ana railway
!. equipment shares were strong today
Southern Pacific published its an
nual report today for The fiscal year
ended bcccinh"r 81. last Tho sur
Plus applicable to dividends was c1uRi
to 1857 II shuf" on the 10000 900
OUTSTANDING stock, against SiOi5 for
1913. Southern Pacific shares were
very strong today. Tho chart read
ors have been saying for some tim.
mat when this stock touched - !!
wouid 40 higher.
On December II. last the United
States Rubber Company had bank
loans Of $4,000. 600 ANA il had large
inventories OF rubber purchased "A,
higher prices. II * now understood
TINT tile bank loans have been con-
sidcrably reduced since the beginnin1,
Of this year and that the holdings OF
rubber have been written down to 20
cents pound. However. the general
i"ciins IN quarters. usually well in
Formed, is that the per cent dividend
VIII he passed. when the directors
meet either on July 6 or =
list of companies that have PASS
cd their dividends since January
wac published in Wall street today.
There are siXty-two weil-known
companies included. The outstanding
capital stock. not Including these
shares with no par value. IL S31S,3Gc.-
600. The amount OF money involved
In the dividends that were passed is
s23.040.0Op.
Mare Money tvniinbir Last Year
During tho coming month, bonds
VIII be called by corporations 10 the
amount OF sis3a.O0O. This COMPARES
with Si,5l3O0O for June and ,aS.25O.-
900 for July OF last year Las; year
industrial companies had more money
available such ullrpng,s
An advance In the price OF sugar
WAS announced today by rcfincrs To
: $50. Yesterday there was a cut 10
5.2o For days past cuts have been
announced. This Is the first advance
in many "A long day. This market will
he closely watched to see If the bot
tom has been reached. The season for
heavy use of sugar is right at hand
Heavy odd lot buying OF seasoned
dividend paying railway shares is re-
ported by houses doing business with
the outside public The shares thus
bought are being paid for in fun
and arc being taken out Of the street
for the income return. which runs as
high as per cent In many cases The
average savings bank account today
is s663.36, against sGl?.7T for 1919, and
s3S7 for 1889. This means, OF course,
that there Is great deal Of money
in the country available for invest
ment on attractive terms
ArauItnnin on Why over
Meetings were held here today nv
representatives of over 600 manu-
facturcrs. banks and exporters
throughout the country TO determine
on plans for disposng of the mer-
chandise lying in various South
American ports. valued at between
Sl0 000 IN
American countries involved also
were represented and it was believed
that one OF several plans ready will
be accepted
London cables report the Auuitania
on her way over here with $1,000. 600
gold aboard
New Haven announced today that
funds required to meet interest pay
mcnts OH bonds and notes due to-
morrow had been deposited with
banks and trust companies making
nsuch payments. That disposcs of the
ecent rcccivership talk
an increase Of 10 per cent i'm total
Individual sales, but Il decrease of 10
or cent in the value Of such sales.
is reported by forty-fivc firms opcrat
ling ffty-eiGht department stores dur.
rEing the month Of May in the district
) of the New York Federal Reserve
sank, which Includes besides Brook
lyn and New York. Newark. Buffalo.
Rochester and Syracuse. The average
sale this year was S3.11. against 1855
year ago. However. the volume Of
business was heavier. especially in
cotton. silk. cloth, notions and pat-
terms, indicating, that more women
were making their own clothes. sales
of house furnishing goods ran be-
low last year. The value OF stocks
on hand May 81 was II per cent be-
low the same date last year.
Ifnd Order Cars Increase.
On September / of last year the
railroads OF the country owned q
:. 27S,273 freight cars. OF which 1877
a65. or ~ per cent. were In bad order,
Here is the way tho bad order cars
nave since increased by months: Octo-
her. a. per cent of total requiring
attention. November. III per cent;
December. s: January, SIS: February.
81; March, l0.7; April, Ills: May, I35.
THIS seems TO make II appear that
the sliopmcn. who arc opposed Ia ac-
ccpting the cut In wages decided up
y on by the Railroad Labor Board.
have tho railroads Mt their mercy. But