Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-20
OIL SHARES ADVANCE
IN NEW YORK MARKET
Sugar Stock Weak on Announces
mcnt That Several Rcilncrics
Had Cut Prices.
JULY WHEAT TAKES DROP
Z. s. Rubber Company Shnrchold-
ers AIcct-Gptimism Shown Over
Tire BuSincss-1,urgc Gold Ship
ucnt Arrives on Cunard Liner.
ny II. l.. IInrIIiiin.

NEW YORK. Aprl, l3-On shares
were higher today on reports that
further advances were to occur in
crude oil. and copper stocks wer.
bought or the contract FOR 3,bOV.Opp
pounds signed by Western Union FOR
delivery beginning next month. ia
pan has just taken 3o.O00,0o0 pounds
and Is inuuiring for another 3.c0o,UOt.
For the most part. however. trading
on the Stock Exchange was at
sthndstill. waiting news develop
McHtR.
Sugar shares We're weak on the am
uUnnCcmcnt that tnc American, ar
buckles ana Warner Rciininr Com
pHny had all cut the price Of refined
sugar quarter Of "a cent I" "a.
The high for sugar this year waH So
cents on March Is. representing a
steady recovery from the lcw Of 81.
made on February 3. Hut price cut
Ting has again set ia. ana II looks
Ike the consuming public rs gong
10 get some OF the sugar that could
not bC had last year around 90 cents
al lower prices than those now pre-
Eaiiing.
july When, Drops.
July wheat mad. ncw low record
for the year today. aud cotton vas
also soft In sugar. wheat and cot
ply exceeds ia. demand. And bank
crs who are carrying loans based on
thcsc commodities are clumorin6 for
payment.
Standard oil OF Indiana. the new
Standard oil stock now being traded
IN on the curb market. was the leader
hlsh record today at -. The low for
the year was CT. and the present
movement started around 20.
\ shipment OF gold from the other
tidc aboard tn. Cunardcr Caronia was
reported. 1t Was ais" learned that
tho t3333.o06 aboard the Finland
would be delayed because that
steamer, owing u an acc.d"nt, had
TO turit back TO sButnIigItDI.
Maturing bonds Due Soon.
Next month railroads. indu'trial
companies and public utility corpora
tons must take care Of fil,52i.oDo
maturing bonds There are no large
maturit!cs. however. Among IN.
railroad bonds falling due the big
the Milwaukee Lake shore and
Western. rh" New York ana Rich
mond Gas Company. has El5O0.oo0
lssues are all below 3i,O0e.oO0 This
h fortunate. The general feeling
on vii make "A difference In The favor
of CORPORATIONS having maturing
bonds and notes 10 pay of.
Wall street has already hcgun TO
mnkc predictions regarding the state
inrnt Of earnings Of the United States
steel Corporation for the March quar-
Ter 10 be made. public Immediately
after the close OF tho Stock Exchange
n"ht Tuesday The general feeling is
that net VIII hc less than S3j 800, 900.
For the March. 1920. quarter net
Vas si3.oa".0"o with January AZ sl3,-
100000 February at $l2.sG0. 900. and
March ~ Sl5,To0,00o. The December
quarter. the last published. which
showed loss OF s5.Goo.oO com
pared with September. was Si2sUO-
600. with October AT slG.7Or.00O. No
yenbc- al ti5.l00O.OOD and Deem
Der at Sl2.o0O.00O. with the steel
plants OF the company now operating
,H,sH "A
makes the operating cost high. It
Is almost certain that the monthly
tendency az earnings for January.
February and March will duplicate
that for the D.Cc nibcr quarter.
Cali Money Drops.
Cali money opened at per cent to-
day. But despite the withdrawal OF
s3?.Soo.0oo government funds from
day there was a drop Of IL per cent
IN the rate with : per cent touched
In the las; hour This casing OF Tho
money rates. howevcr,wns not re-
Nccted In the stock market
lnasmuch as our exports for only
as recently as December showed the
largest figure for that month for
any year all the time Wall street
by the statement just published at
Washington giving our exports for
March as S3si.ooo.o0o. a loss OF ii05,-
10000 compared with February.
1886. 1000, 900. compared with Deem
Der, and no less than Si35.0cO.0on
with March, OF las; year. Part OF
this collapse. OF course. Is due TO the
steady shrinkaGc In selling prices.
and part to the inability OF certain
countries to finance ON
timed purchases in our mar
kcts ReyOnd question. too. tho
loss in our exports reflected improve
Incnt in the economic position of Ger
tain countries which heretofore were
forced to buy foods;uffs ana raw and
finished materials here AT any prizes.
Expect Decline In Exports.
To-day the consensus OF opinion in
banking circles here was that furth-
or declines in exports viii bc shown
in the statements foS coming months
accompanied by continued heavy inn
ports OF gold.
In twenty years bonded debt has
been reduced by sSS.OO0,nOo and an
nual interest and preferred dividend
have been cut down by S;.020.O0o.
This reduction In fixed charges has
been brought about by the use or
dividend requirements. In twenty
wears the surplus for dividends has
a,nory,tcd to s505,0OO.O 600 on the pre-
fcrrcd stock. to S255.0O0,00O on the
common. after paying the I per cent
nm Inc preferred. and 10 sis5. 900. 600
after payment of tho common divi-
acnds WORKING capital has been in
crnnscd bv si57 700. 600. Certainly the
company has Jared VOL in its rcla
lions with the buying public.