Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-26
STOCK MARKET QUIET;
RAILS ARE AGAIN STRONG
FRENCH Municipal Bonds Are
Quickly and Largely
Ovcrsubscribcd.
Government WIthdrnws s9.SOO,000
From New York Bnnks-ReIiubIe
oh Interests Say New situation
tins Developed in Gasoline Market.
By Il. l.. IInrnuin.

NEW YORK. Nov. 25.--In between
holiday and halliday, today's stock
market was quiet. However, despite
continued talk OF u reaction, u NUM-
Der of spccialties. including Dawson
Chemical. Allied Chemical. Endicott
Johnson. New York Air Brake. Amer
lean Ice, continued TO climb. The
rails were again strong. Colorado
and southern. Union Pacific. Missouri
Hacliic preferred and Northern Pa
cihc leading
Colorado and Southern. which is
earning at the rate OF $I2 for It's
common stock, Is going TO declare Il
dividend. according to todays Cos
sip. which will go to Burlington.
That company. In turn. being Schcd-
uicd To declare AN extra dividend
around December !. which will go
to Great Northern and Northern Pa
ci:c. There Is also some talk Of buy
ing of Colorado and Southern by the
nm interests for merger purposes.
ovrrsahscribc French Bonds.
Before noon It was announced that
the subscription books opened at 10
o'clock for the Offering OF French
municipa! bonds had boon closed
with the offering largely overEub-
scribcd.
The government withdrew $780,
600 from the banks here today. This
may he for the purpose OF paying
Treasury certificates maturing the
inddl. OF next month. II has been
announced that the holders Of the
certificates maturing then may turn
them in now and get fun Interest.
That looks like tho Treasury was
'iueh with funds.
Colorado Fuel and Iron published
It's September quarter earnings to-
a. 4
against sl3.4S4.o00 for the same
period OF last year. After payment
OF operating expenses. including de-
probation, there was n deficit OF
100000. against surplus for the
Kahn" months Of last year OF 100000.
Rails 6rdcrs plnccd so far this year
for 1922 domestic delivery aggregate
100000 tons. with 100000 going 10
the United States steel Corporation.
Inquiries for foreign and domestic
consumption aggregate more than
100000 tons.
y shipment OF 100000 gold ar
rived here today on the Adrla,ic.
demand for Copper Continues.
Copper interests report that the de-
Eand for the yellow metal continues
here in this country with Germany
The largest foreign buyer. England
j. reported as again being in the mar
N'Ns sSdifS 70 tniS year tOIhl
i.oGb.0D0.000 pounds, with the pros
poets of l,20o.0oo.0oO pounds being
rchchci before the end OF tho year.
Last year sales werc 100000. 200
pounds. During part OF this year the
copper maric, was standing absolute
~ sim. producers saying that :hc
metal could not be sold at any price
Reliable oil interests here say tina;
new situation has DEVELOPED in tho
rnHrkct for gasoline and for lubrl-
cunts. ReAn.rs ovcrcstimated tho
demand ana now one company. which
il over stocked. In letting another
company with orders. but under
stocked. have what II wants with
Ir!ccs being shaded. The public how
ever, II not getting the benefit Of this
friendly Arrangement. Prices for
crude. II was stated, are holding
strong. AZ the close of September
Shsoiino in the hands Of rcnners
amounted To 5i5.0O0.000 gallons
"EaInst 2s5.OUO,000 gallons at the
came time last year. with gas and
incl oil l,22e.600.cC0 gallons against
'tlo0O,o00 gallons Il year ago. and
lubricaiing ell at 23O.oOo.0OO GALLONS
against l3",ooo,00O gallons n year ago
The price cutting is In chicago ana
IN" southwest.
wall Street would not be surprised
10 see reversal OF the ycar-cnd sell
ing OF stocks To establish ioss.s for
income tax r"~1"-~r r, .-Irp 4.
now against the law amd th.r" MAJ
bc huy!nS back Of stocks already sold.