Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-08-12
QUOTATION CONTINUES
IN NEW YORK MARKET
rciarc Stocks Now Being Sold
short VIII Have to BE Bought
In and Returned.
iPORrS SuFFEI. SLUMI,
ogden Armour. Of Packing In
dustry, Tells Associates This Is
Iime for Close Figuring and for
Hard Work.
By il. l.. BnrnIiin.

by u. l.. Bnrnum.
NEW YORK. Aug. lI.-Thcrc was
me ilpui.lation IN stocks today ana
io' "t bear selling Too much is
lhI made Stochmarkctwisc Of III.
developments that have arisen in
e frozen" loan situation prnwluy
o' IN" iinancin. Of foreign trade.
p" stocks that are being sold *hor,
I" VIII rave To- be fought In and
turned. Liquidation AS well as
oFt selling occurred in both the
Ills and .ndustriuls.
General Asphalt'S rcuort for tho
st half or 1921 was taken up by the
airs 10 dcpr"ss prices through tho
dIstiailS, The deficit for tho six
2n'hs "as $4,000. OF which 1881.
p was FOR the hrst quarter. Apr!I
""oh e deficit of sI53.O0o. May $50.
. and June s23.OoO
sell ON Washington News.
The rails wcr" sold on the news
'W Washington that friction had
'Een between the administration
pa certain Senator's over tho pro-
H'd financing OF the railroads The
majors opposing the plan claim that
+ governments had loaned the com
MICS IVfing Federal control Si.iii.-
'noo raiscJ hy the sale Of Liberty
NOS that tn" money had been spent
the companies for capital cNpcndi-
r'S. that these cHpcndituroi had
."n capitalized when the companies
"" N" government their nptcS: that
fais" new money now ON these
'os, whiDh ~" TO b. extended for
II years Us tho sam" ~ ruisiu. tho
'ncy i"ico mat I'm Tho long ran.
|" government would lose ny ,hs
Grafton Is o. no acceptable an
or mas r"sn made - this arru-
rnt
From 'ne >icwpoiu, Of the rails the
81 encouraging signs may too found
tht 'iual statement Just published
N"rin- '"rUugs for June. The
iEluai cstiiudt. was that net opera
q income for July would 10. fio.-
1000 IT WAS y5i.77S COZ IN, larg.
! for any mouth since last Noycm.
r. aud tii,'l1Oon larger than for
" preceding month. May
Earn ~ Per Cent
For JIM" 81 per coui was earned
the property accoun; OF ihc rail
adj as Il Whole This j. q pcr cent
i'w the amount required 10 pay .
r cent However II compares win
Wy EARNED on property account
, AIay and with deficits for the pre-
hinS months. During Jun" it re-
'ired only - cents out OF every dol
: ,akcn I'm IN arots to pay operating
pcnScs, whereas Tor May s5 cents
iS required ana for June of las,
az 90 cents. Those agurcS prose
nciusiV.ly that without government
, and without the reduction ~
ages which became effective Juiy.
Z" railroads we're moving in the
..hi direction.
frgiEht car, loaded with rcv.ttue
IMAGE during the week ending mly
Increased i2g2 compared with the
cccdinS week, al Glasses of freight
IN The exception al coal aud orr,
owing gains The total was 796.a7U.
decrease OF 1876 c<rs compared
IN the sam, rcricG ui last ycnr. aud
s ,S2I with 1913
=" Increase Committee.
!, l- liH"S that tho committee of
eminent bankers formed Last Jane.
handl" the situation ia the M.r-
utiic Bank al America VIII he IN
-asch from thr-. ia ny. members
.rn partner al i. J. Morgan &
lmUany included tina, nrm has been
He'd in from iIuc TO time TOR Hd-
q" ana service 5uSr as u has IN the
81" ut man" individual ARA corpora
On cicau-upF that have occurred
ring tho 'iIu!hHtirg period which
gan last year The StuCk al the
reign trade financing Lamb IN qucs-
IN o. owned 10y several banks trust
mpaui"s and rriNat" banking firms.
was these shareholders who mt up
&c S20.GGo.0o new cash last June ANA
ranged FOR an additional loan %.
$ rQuo"U, the collateral tor which
NOW being gone over and strength
.I Tn" existing situation viii All
cleaned up hy the end o: this
eek
England aud tho United }tatcs 10th
iDiiSh today tEnir July foreign trade
utcments England's oNpnrts Tor
i, month were - 0Oo.0 900 pounds
.rlin= AGAINST 3S.00O0OO for this
an. and l&I.ooo.Uoo for July of last
ar That increase over June un-
,unt"tly reflects the settlement Of
.e Goa. strikc. Her imports for July
ere N0.ruo.cOO pounds against $4,000
~ fur mis- June and iG3.no0. 900 for
ily last year. July imports We're
IL smallest for the year
Imports Drop on.
our statement shows July imports
Si1N. OUO.n against Sl9S .O0o 600 for
lis June t20S.oOe. 900 for May. and
35,OUor0 Tor July of last wear Our
iiv exports were S32c .00o. 400 against
10000, 600 FOR this June. 1929. O00.0
r MAY and $@"l 100000 for July Of
81 year For the seven months our
iports dropped to $i.iGS ,i66. ono com
rcd with S2.Nj6, 2Gj 600 for the cor
spending period of last year. with
ports down to S:.S5G, 265. 600 against
SaI. 0Or. 00c.
In talking t. his associates in tho
cking industry. j. ogden Armour
IS this 10 say Of the outlook: 1T is
g belief of ycur finance committee
al conservatism and caution must
the watchwords during the coming
ar The fact that periodical bal
COS arc again showing in black ink
Ist not lie taken 10 mean that the
Il INK which has had constant use
II now he thrown Away. We arc on
, same road today that we were on
wear ago. but With this difference
@ cud Of the load seems 10 be in
,ht" lie then added that This was
q day for close figuring on costs.
onts and for hard work.
Professor Ripley. who was hired 10
,kc Il report under the new trans
ration law on tho possibilities Of
nsolidnting tho railroads. Gas re
r,,d that the New England rail