Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-19
STOCK MARKET PRICES
ARE SLIGHTLY HIGHER
Pullman Breaks Three Points, Duo
to Selling by Estate, Accord
Ing to Reports.
GOLD ARRIVES FROM HOLLAND
Advance OF 10 to is Cents Per
Barrel Announced In Prices OF
Eastern Crude Oil, With Penn
sylvania Up % Cents to S3.25.
By X. J.. Bnrnuiii.


the stock exchange this morning were
slightly higher at the opening. but
weakness developed in the early
trading in pullman. Canadian Pacific.
baldwin and the steel shares and
rails. There was some talk that the
sudden hrcc-point break In Pull
man was due To selling by the Pull
man estate, the death Of the mother
OF Governor Lowdcn's wife, who was
Mrs. Pullman. having only recently
occurred. Then too, there were ru-
niors that pullman would cut It's div
idcnd at the meeting 10 he held this
wednesday.
Like ali Of the railway equipment
manufacturers. Pullman has suffered
IN recent years from lack of freight
ear orders The company has been
paying per cent dividend since 1900
ana there Is an unbrokcn dividend
record going back TO 1874. AS re-
sSSmtiy as 1910. the price for the
hlsh hh 200 with the low for the year
wcnkn-.. Due TO REPORTS.
Iouays weakness in the steel
shares was due u stories from PITTS
burEh that the industry as Il whole
Mhs running at only 80 per cen, Of
capacity with the independents fac
ing the necessity OF quoting lower
prices 10 get orders which naturally
would make dividends less certain.
IL was evident, too from the remarks
made by t. II. Gary regarding labor
unions AZ today's annual meeting OF
,shhrehold.rs That. the chairman nf
,h" steel corporation was much dis
turb"d over the new movement OF
steer labor Leaders 70 organize that
industry From Wail streets view
,.rinn handed down last week 10y the
Nailrond Labor Board recognizing
ths right OF labor 20 organize ana
Nc!ect th"!! own representatives
Incrrnsr In shown.
While I'M, w"ck-cnd reserve rntior
"a" fchcrni reserve system aA
mnG,. sh"w"d an Increase To 53.5
aEnihs, $50 week ago. this small
gain was understood By wal, Street
70 lnhicnt. that other banks ar. no,
,,thnt'E .m n" near iutur" t" follow
IA" "NhmDl" of Boston In lowering
f.H!scount rates. However. there Was
further gain OF !23. 100000 In gold
oGG1irHrs, decrease "f ,5o.o0Q.oGo In
r'HitCounts and }2iiO0.OOn sn note
,,rtuIht ION. making IN" reduction In
outstanding notes since tho maximum
w, 80 cached last December. $500, 600
80 NJ reserve ratio Is now nj tho
n.Ih'St hSur" sine" August OF 1918
;nu'eh rng mat the banks are max
s.'aIS u slow progress In III.
Mpr" S"'i came IN today from Iio!.
.rhh anu France In eighty ono boxes
ne contents u which had not been
ions had Just left the other eide
'i""HFd N" Celtic and Finland
Crude OH tdynucr.
IN advance ~ from 10 10 III c.n,s
nnrr'l Was announced today In the
rennsvi ~ ia EaE,srn crude oil with
'''sSE lhhhlh mp 20 cents to S3o5 Thix
IN. mFsi increas" in Pennsylvania
Mh'ch ~ the recognized leader, sine.
~ o""ci'ne ocHnn from the high Of
spans,b,c ZIP ~, J., IL predicted in re-
hr.c" advances .ro 10 folluw
ny lar the most Interesting and
Street, tp's" yi nvws OF the day from Wall
trade statement from Washiuv,o, -
ne month OF March. This sra,emr,,,
In our e .nns IA" !ong-"Npecied slump
.npofts were failing or AT = shan
WIPhr'h wiih "a year ago.
olr rkportr Tor March amounted n
S3S'.oou.'oo, against stso0O0 ooO TO-
February Of this year and ,Son n"o ~" "a
t"r March o! last wear For ,hc ,J,n
'hohIh1 of the current rscal ycnr mr.
"Hpor's wcr. $500. 100000, compared
Win $500, goo 600 for the Same NO.
r!oh OF last year Nv
MARCH, Imports show Increase
IN Imports. March showed s25o.-
1,oV,ooe, AGAINST s215,0Oo, 900 Tor This
February ana 1924. 200. 0G0 for M,rnn
1920. For the nine months ,ve i,n
n ported sa.ooe.ooo,ooo. against s3.75g..
The statement of gold movement
wac also interesting. showing t.oo
200 shipped out in March. agains, 81
u"o'Ooo in February and 81. 660 oOo
Tor March OF 1920 and tl3i .0O6 ooo Tor
"a" nint months Of this year. against
SiG9, 600. 900 year ago. when we
were sending Il out In large amnunts
10 south America. Japan and chin,
We have imported sisI 900 900 in nine
months. AGAINST f60.oOO,000 for tho
hamc period OF 1920.
Todays statement from the Amer
lean Hallway Association shows that.
for the week ending April s. the idle
cars surplus for the country an
whole made a new high record M
. vi M
preceding week and 10000 over tho
figures nj the beginning OF the year.
This means that 81 per cent Of all
the freight cars owned by the rail
ROADS or the country are now standing
idle on s!dctracks. Idle freight cars
bring in no money to the railroads.
with the carrying charge on capital
Invested going on, they mean money
factory conditions in general trade.
Many Freight Cnrs Idle.
or the total OF 507.427 idle freight
cars reported. 26l.oo4 are coal cars
OF coal now around sl.75 ton at the
mines. against $40. the high price
reached in July OF 1920. and $3.50.
the price OF 1913. II Is not going to
be long before manufacturing plants
will find that II is wise to begin to
store fuel. Undoubtedly. what they
are waiting for liz to see if there
is not to be further reimbursement
IN ] lcl TO Dcdcf-'i'He prices through
reduction in freight rates.
AS for the strings OF idle box cars
now standing around the country on
sdings. as soon as the farmers get
through planting corn undoubtedly
they will again start shipping grain.
There is n lot Of old corn and wheat
and rye to he maEkcted.
Want Prices Lowered.
Wall Street believes that some good
will be accomplished in reducing the
cost OF living by the immediate ac-
ton recommended by President Hard
ing by the Federal Trade Commits
sion. In some cases tho Sherman law
will check the pcn-pric" assocla
lions. which the Trade Commission
'oin,s out arc retarding Il readjust-
ent in prices. especially in the re-
III trade. And. II Is believed that
Sgrcss can he helpful in other cases
IN arriving out the recommendation
ioT Sdtional Legislation.
hoSver. Wall Streets real hope
Tor nfnal reimbursement from n
war-tn, TO a peace time basis for
prices ~" In the old and frequently
,rlea Out wv Of supply and demand.
hat Jaw; lftcr all. has done more
. nan "nS,nrg else in the ground al
NEW CORK BONDS