Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-12
|, MOTOR AND STEEL
HOLD FIRM IN MARKET
her Shares In Wall Street Show
'cak Spois-Amcrican Linsccd
Drops I Points.
PACIFIC SELLS LOW
ihnsylrahia Again Makes New
Low Record for Year, Selling at
~ H-", the Lowest level In Over
Forty Years.


forty Years.
lfH II. l.. Unrnum.
hN YORK. Aprll 1l.--Oil. motor
H'.'l Shhrcs held hrm today in "A
inhrkct that had a number OF
TX Spots. on rumors that the salr
i'y property 10 a British syndicate
~ ihii"n through American iinSc"d
'ppcd points In tho carly trad
Northern Pacific, which closed
~ 81, sClG down TO ~ SIS before
IN YIN lawyers !or that company
'r"hl NorthTu appearing before
lHf"rHihtc Commerce Commission
washington to argue f"r permits
70 issue f250,0V0.n0O Join, q lie
cent couNcrtihl" bonds TO take up
}2l5.0ob,000 Join, 81 maturing
- ]. Even If the commission gives
consent these bonds viii greatly
f"aNc Tho carrying charge for con-
l Of Burlington
NccorGing To tho statements made
tag by lawyers for tho i'm roads
new couvcrtiblc 6 ,-2a arc to be
ur"d by $50, 100000 or Northern
aifr General Mortgage e. and
q amount ~ great Northern -.
Makes Ne" Low nr""rd.
{PcNnSy wanna again made "A new
record Tor TIA" year. selling AT
Il 3-s, tho lowest l.vCl tn over forty
lrs, or since 1879. when IN" same
nrc was touched. IA tho gam of
IlNtlD' tho itEili' NaS lbf hpiO-
th' dividend meeting. comes on
nday tho meeting VIII be held ON
nth. Paying q per cent or 50
arc on the $50 par value shares,
unsylvania is nov Offering an In
ne return ~ UCariy 10 per cent.
1t Is too much ana Indicates that
70 Us some baais for tho widely
rUint"l rUfnOrS That the dividend
&C. VIII DC cut. PcnuSyl NdDia
craze dividend rate for the past
RAJ - 10 ..a
, jmr explanation for the hcnvlncss
tbu railroad list Is Il whole was
lays abatement from Was hingtun
Iwins that for The month 81 FEB.
fy 1nV companies reported "a r"-
IL nttgr payment ~ ordinary Opcr-
az expenses amt taxes 90 $1.2i0,-
against tn" dcnyit or jcis.-
p rcpu'trd FOR January For tn"
! months ending with February
railroads of the country earned
O. iy liz pcr ccu; rU property ac-
iri against tho l-2 provided ior
dor the transportation law
. Inrdinr 1" Take ,p Il. II. Matter.
NALL street it-ard today that Prcs!-
-, Harding would not take up the
! ilrUad- -. Ia. message - Congress-
20. dclivcrod tomorrow but ;hat
j would take up tn" matter in the
ar 'It!rr certainly ~" public :
Titled 10 light "r Tho railroad siiu"-
Bile. that II may como through the
Scrtipaiion proposed h% Senator
/ FOLLOWING tho ovcr-Sundny an
! unccwcut that IN" National Bank
cuba had closed. the branch OF tina,
nk here faIed TO open rs doors
* morning. u Is understood mat
Nour y Company, tn" Amcr!"an
|brcieu Ranking Company. tho
/ arror sugar Ryinins Company, and
! number W "thcr lHrE" industrial
ncorns and nnaucial institutions
q creditors. II WAS also under
BOD thu, banking inter" sta mere
yc for wcoks hcar expecting the
test }opm.nts. Cuhn made too
Ich money In too short u time IN
gar The whole country lost ITS
gar Even laboriuc mon VINO had
en- glad 70 get s any refused |"
,rk for 81 and sic. prc'crring to
mbl. in the shares OF sugar ana
her local companies. Time anu
ain tho harbur at Havana was
owdcd with empty ships waiting
! he loaded because labor could not
reserve Hanks give Good Report.
AR fO- Our own banks, ~ IN" nc
ming %. this week the roscrN"
liz ~ tie twelve Federal reserve
stitutions stood at 53.j. against "a
week aro and 432 Il year ago,
ms b. tho highest r'S'rN" reported
irc June "l 1917. NnrN ti' '""'
lod at 537 The twelve hanks
incd S2u.oGNO0n in gold holdings
Il week. making thu gain Tor tho
outh sl0G.UnU.n0u and for l9@l no
than s90a.n0u.p00 R-dIscounts
IL week dropi"d sh',o0""oo, Of
hich Sjl,0Ou.00o WAS IN commercial
I'M reserve ratio of tho Sew YORK
nix dropped 10 BIS. against i".1 a
COX ago ana $50 "a year ago. iut
is was merely Iu" to hclp given
her banks Two others showed de-
eases. kansas Clty DROPPING To
=. against $50 last week and 40
wear a-u, with MINNEAPOLIS DOWN
452, compared with 800 a week
90 and ia.3 - year ago.
call money renewed At per cent
day. 1t stayed At that level all
Have opinion th"nt Letter.
f.ycrs body in Wall street seemed
day, on" way or another, :yGard-
. the Ioticr Just written -" Haley
isk, president OF tn" Metropolitan
70 Insurance Colnpany, TO II.
NTH, president Of tn. New Work
antral Railroad. In reply 10 IN" r.
nj criticism Of Smith ana his di-
ctors of the wage conferences of
lilway employees and officials called
the National Association % own
IS Of Railroad Securities. FISK "a
no created and personally conducted
,c association last named. smith. IL
Ill be recalled. acting on orders
ON his directors. referred To the
rtiv!tics of Wariicld and his assoc
atcs as unfortunate and improper.
oday Fish IN a letter To Smith, at
.r pointing out that his company
one has Il financial interest of S32,-
30 goo in the New York Central sys-
IN. says: Frankly, ii disturbs Ms
, nave your board Of directors say
nat they represent in their dealings
ne stockholders without any recOE-
i;ion of the superior obligations Of
&c railroad company. We have seen
o disposition on Your part TO rccog-
iZc our interests or consult with those
Tho. IN - sense, own your property.
q the other hand. you arc Directing.
ven VIII pardon MS for saying so.
u an offensive and, not to say. i'm
.crtincni way to our cndeavor to
rotcct our Investments"
wall street Aroused.
That is pretty strong talk when
is realized that the New York
cntral board OF directors is made
lit. George j.. Baker. William Rock
.fcllcr, ogden Mills, Robert S.
Love;t. T.. :. darkness. Naturally
Vail streets interest was aroused.
iomc people believed that Fisk with
lis large Investment in New York
central. is right. But those whose
,p.uious count for tho most are nf
he belief that Fisk. who sccems to
@ pulling Warhcld's chcstnuts out
f the fire. is all wrong Ii was
Oiutcd out that the New York
.cntral directors elected by the
itrohO|dcrS own and control the
ropcr;y. .\s long as it's interest