Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-07
SUBSTANTIAL GAINS MADE
IN SUGAR SHARE SALES
Good Selling Also Noted in Asphalt
and Rubber Stocks rs Mar
kct Opens.
PRICES DECLINE AT CLOSE
News That $4,000 Rail Employees
Had Hc"n Called On To Vote on
Wage Cat Acceptance Causcs
slump In Wall Street.
PRICES pEcLlNE AT CLOsl
ny u. D.. IimrmuIlI.

.HtW YORK, june G-Sciliug o!
sugar sharcG, asphalt. rubber stocks
ana other indus,riuls was resumed at
ih" opening Of the market today and
was continued until around noon,
when there was "a substuutial re-
covcry. I'm tho late trading. how
ever, prices declined on tho news that
som" 10000 railroad maintenance
iucu had be"n called upon by Labor
leaders to vote on whether or not To
accept the CUT iu wages ordered by
ne Railroad i.pbOr Board Traders
"1p woro shor, 81 tho stock market
iso made iho most of the unsettled
'Maucitl ana trade conditions ia Cubn,
Chandler directors hold their meet
iuE today aud reduced the annual
dividend rate from 10 per cent to 8
%. declaring quarterly payment of
go. The 10 rate Was established
'u October Of l2i1. when tn. ol'YTtock
,y.ih par value 81 100 was ex-
changed for the new shares having
no pnr value three for one. 1'oday's
dividend reduction was expected by
wall Street.
Corn products made a gain OF three
points this morning. while the rect
~ The list WAS soft The directors
meet on Hume 10 act on special
dividends The company has "a profit p
lose surplus or 3i3.J2f. 900, arains,
Hnly {lS.3ilOO0 as recently as 1871.
However. tho MANAGEMENT which is
closely identified with STANDARD oil.
"Atr"u"IS conservative, ana stand
ard OH officials are known ~ stay
clos" 80 shore i'm all ~ their com
mljmeris.
International paper. which opened
down small fraction from Satur-
days closing Of 6Gl-i dropped ia
80 l-2 hy noon on tho announcement
mat parCr prices for the third uhar-
scr If tho year had been cut from
sli0 Is ton 10 So. Other paper com :
rauir# announced similar reductions
International Mercantile Marine
published Us annual report. showing
Nai Win earnings Of subsidiary
rowntni"s, the estimate Tor net was
''7oG1.oo0 against f.2.2Ss,oG0 FOR the
calendar year l91c.
Sterl'ur ana francs. which inalu
Muil hi-h for tho year recently at
sol and sNIt respCctiycly, and have
1prlur TIA" pust forth sht been ic-
i.A.n- sharply. oncnH , this morning
T40H lower Sterling was down .
"lriH TO 49, aui francs down ~
ua.sf'E 70 s. W.li Strnct iutornutionai
apus.rr md No johui'c Information
as .o lhr ceuac u this decline, bpt
TOOK N Tor granted that exchange on
i.nrlaud snt France wrr. again being,
ufH 90 raise dollars 10 .onnccti ,n
.'H ihc aeaaut iusullmer' on Tho
FIRST Di,r'uAn rcparnNon payment.
,0r bankers nrs wondering how and
when Germany accumulated such
large aiuUppts - sterling and Cranes
"nich enid beg sold at the pregrnt
Is luucnt - ioi boxes OF sold
trriYcl ovs- ,hc Weekend on tn,
3Nunin. TudHs's London cah'a4 in
,ma,e at We have seen ~" largest
-pd imports ~ the year.
A.!uig.S received - Wall street to-
aay from "uininatou o.cr private
Tres. stated 'hs' an casing Of tho
rurka' for aEr cultural credits Mould
.r Witnessed - the immchldt" 'u-
,ur5 This. ~ WAS predicted, viii he
on, 0I rhc results ~ the recent visit
~ Guyaruor Ii;iaing, % the Federal
Reserve Board, 10 IN" West and
south
A,tntJt Coast Linz and Iouisvill"
ara Nlshvilio continued strong today
ana murr mp0Ts wtIc heard 81 an
actual merger Of these two sEs'cmi'
wr!.H as. uow CLOSELY ai!i"h stories
.,r. ALSO hcard of spccin! dividends
l.... louisville.