Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-06
railway EQUIPMENT
SHARES ARE ACTIVE.
Pullman Company Books Big
Order From Northern
Pacific Road.
MONEY RATE ro BE cur AGAIN
Ne" York trncrvr Dunk 10 An
nounce Further reduction I'm Itr-
uisc"nni Charge About aIiddie OF
Mohfh-A. q. T.. Notes Sold.
by Il. J.. IInrniln,.

NEW YORK. Dec. 5.-Prices on
the Stock Exchange opened higher
touay. gold or, then advanced and
he'd hrm. Trading was quiet. 4
considerable short interest has again
been built up In the market. profes-
t'onal traders playing for n reaction
mat has nrt come There is little
or no buying OF stocks for long ac-
count on margin. However. tn. buy
ing outright by investors continues
ic reduce the noating supply.
one or the governors IF She Stock
N1changc predicted today In talking
WIN your correspondent that this
"as going To be biuc Christmas
iet some people trading In the stock
market
For tho last few years Wall street
mas teen as blue rs indigo on Christ
ma because OF the heavy decline in
'hc STOCK market resulting from
se!i'ns Tor the purposes of establish
ms Losses TO he deducted from In
come taxes. Selling OF this character
mas now been eliminated under the
how tax law. Those who are going
10 spend blue Christmas this year.
INC governor OF the Stock Exchange
predicted were the traders who are
short OF the market
Hull Market Predicted.
with the Investment buying going
on az result OF idle money piling
up ana easier money coming. he pre-
uicts u creeping bull market. with
INC public coming In ten points or
20 higher up. The market has now
had steady advance OF sixteen
points. with professional traders who
were short nuLtip,v 40.
step Of the way.
Rumors were heard In banking cir
c!es today that the rcdiscount rate
OF The Federal reserve bank would
We lowered again 1t week from this
wednesday. or on December II.
frre Marquette has never paid u
dividend on its per cent preferred
stock which has been cumulative
tince January ]. 1919. II was re-
ported IN banking circles gossip to-
day that before the end OF this week
10 per cent would bc declared on ac-
eoun, OF back dividends, The pre-
ierred stock can be retired At par
and back dividends.
l'uliInan- Iiuuk Mig Ordcrn.
Private information was received
from Chicago today 10 the effect
that 10 Pullman Company has just
booked enough business from the
Northern Pacific 70 keep Il busy dur
!ng the winter months. II was aiao
stated that the company IL avnrtng
on Sio.o0G.000 additional new busi-
ness.
Pierce ell has gold 100000 ten
year per cent notes to Il syndicate
az bankers. The notes will be- Of
!erCd at par. Two new directors
representing New York banking In
tc.csts have also been elected.
From reliable sources 81 was
learned today that the strength in
Studcbakcr is due TO large trader.
having taken the stock In hand
These traders are In no way con
nectcd with the company. II Is un-
Gers,ooi that Stmdebaker ig planning
to announce another price cut. Prob
ably around the middle OF this
month. or before the automobile
show begins.
sharp Rnil Movement Predicted.
There was It sharp upward move
ment in all OF the railway equipment
companies today. Lima Locomotive
leading.
This was on very light trading and
IN sympathy with the upward move
mcnt In other similar shares. which
really was headed by American Loo
comotivc. which advanced four
points during tlc early trading on
talk tina, the dividend would he In
creased to s per cent. The company
is now E.y!ng per cent. II has
a profit and loss surplus OF S2t.-
zoo coo rar-nrrr.i--r ."N--tinlr
Profits Iaat haze never been DIS
tributed. The management is ultra
conservative.
\. 4. l.. Eauipmcnt Notes Sold.
BAR * Company have purchae cd
from the government sl.275.0Go At
iantic Coast Line 6 per cent equip
ment notes. The notes viii DC sold
70 investors.
International Mercantile Marine
shares were again strong. Wall
Street hears that President Harding
il in favor Of Congress granting n
subsidy To help build up the business
OF ships flying the American flag.
There was big surprise In today's
statement OF railway earnings cover
ing the returns OF l7S class one COM
panics for October. Gross. amount
Ing to s527.l72 200. was down l6.6
per cent; operating expenses were
down 247 per cent; net operating in
come. amounting to sl04.lS9.0O0. was
up 22.9. This amounts to 81 per
cent on property account. II may
reach per cent.