Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-06
Ne OF STOCK Market
letter, PRICES HIGHER
ances Due TO News Of Further
iold Coming From Abroad.
Call Money Drops.
,Es ON TIME LOANS EAsr
l Street Realizes Moro Each
ny importance In Inflow OF Vel
w Metal From All Parts of the
'orld.
liz Ii. il. narn,Ini.

'orld.
By II. j.. narnuni.
W YORK, April 5.-rhere was
uch better tone to tuday's stock
set. Prices opened high ad
cd In the first hour. sold Off. and
again advanced in response to
ad and reduction in tie iato
cal money to the lowest level
lany long day. The opening
Lor call money was 6 per cent,
az was touched shortly after
=, Eariy IN the year call monoF
Exchanse-at Ak per cent: for
raj Jays past. while the Stock
range rate has been down to 6.
money Was loaned by BANKS and
.V!hpahies directly TO brokers
per cent. There Was also an
today In tiine-money rates.
loans being placed at GW ana
AGAINST tho long -standinS Z per
inflow of Sold Important.
On day Wall Street is realizing
ana more the Importance OF the
inIow OF gold from all party
he world; So far this year we
OBTAINED In the neighbornopd Of
uvv'oog. asainst last years total,
pts Of }os.D0Q. 900: and last year
goih receipts were large. owing
ne Payment OF the 100000. OGj
o-Frcnch loan. Beyond question.
financial and Industrial rotations
the rest OF the world are being
sed by THIS heavy Inflow OF gold.
PIC wouidssail this week with
o.9oo Of gold aboard. coming
,inuia. IL would take list n
iohg to show the various coun-
from which we have already
spiu TINS year. Every mil
OF Eo!d received and held means
IN. lend ing puwcr OF the sod
reserve banks can be .sunnl,.d
oalrihtcly ten times.
10 hccoinnicH,i Wage CUT.
norS were heard her. today that
III ms opening message TO
rcts next week or In "A accurate
aSS TO follow devoted .itir.iv
me Tailroads. President UlrIIn,r
recommend q 20 per cent reIiin-
n Tailway wages aud a 20 prr
cui IN freight rates.
uh' d'.e news was forthcoming
dealing with the auiomo1ile
'anies- First the Directors
springfield Tire met ana dc.
thc regular quarterly stock
.! . per cent. but passed the
S.y payment. This liz VIA,
/ '~'lN 'laii ~ DsEtsu
St the annual meeting NJ S,,,
sharcholdsrs Was h.Il .,,,I
ulSAppointncnt Max rynr.ss,
~ W &: Durant was not .,ar. ..J
;e.S'or' The STOCK. which unens,i
a neainst last nig:t's closing
~ hu advanced To -. sold Iown
- on n. announcement NJ IN.
OF Tn. election. prn,ld ~
INC Issued a statement after ,he
TX "chSinS that h,. and CO..
an ana other interests ,n,.',,
.n, ,nnIl hai obtained control nf
,on'pnhy. ii-lnformcd Waii
n, nm ~, - 81 The hciief tha:
SpihB To b. elected direc,n.' t ~
upaHcr within III. near mr.. VI
,,niti.,ai so IN" very lcsi r.nsrn.
nIeVlnY that actual Contra ~
- now IN II certain ofica
dwnv way from wall ami
~eriui factor in The cntnn., ny
Ia! interes, on a. =. nch,
uHS London cables ;..uor,
.o1ert Horne, the new Oh, rcaii,
y, S'euucr, has included I'm his
Sao no or me year approximately
he iRT payne Of interest
s. So far. we have rccoIvo% 'en
t on The 3l0.0o0,O00 900 loap"J
~ government 10 other co,iniri..s
"a. war. If England dos d.
.hHt INC time has come yvban iii,
est should no longer be noa,
~ VII mean that there has been
cn Improvement In her fnnn-
p."i,luh- Payment OF 5000 O10
~ t,eN, VII also have Il decided
~ s'eriiag exchange. II may
inhuchcc other countries Ia tul,a
ar action '''he
was learned today that the t,-ic,x
has succeeded in mmrl.,i,..
'hlrds NJ its 100000 shar.- bn5,I'
OF pennsylvania. and IN h,nLtn,,
IS the prediction that Pcnnsvis
would reduce its qunrtcr'y div
rate on Alril 81 was rspcnicd
,'e ,he hnaVy inside srlling thrt
pcem soins on in pennsyivaria,
opposed 10 dividend red,i.tinn
win out. Much depends On tho
holdings Of the COMPANY nnd
abor and traffic outlook at tna
the dividend injecting is held
ikes s23.o00.00H. or $3.50 600 :;
ter. 10 pay Pcnnsylvanias div
Us. or that SUM. S26.09i.Oo0 is
ned in the form OF interest ana
ends on the securities held OF
Z does cut it's Dividends sImiiar
n undouhtcdlv Will he takon bv
diary companies. Such action
certainly upset the whole mar
or railroad stocks. PENNSYLVANIA
tors have n wc,l-carned r.pu.a-
for looking far into tho future.
It's policy Is usually followed nv
'Erailroads. That is WHY div
reduction nj this time would
I railroad stockholders.
Want Closer Co-Opcrntlou
April %. ort-o.-town ocrtrcre
Inns belonging to the New York
Il Exchange will hold a meeting
to bring about closer co.opnra7
This is Il new departure. md
good is expected 10 result Ono
ie subjects 20 be discusscd-tbc
Ing may run several days--d.aIs
odd lots. There was fine
4 the house handling odd lots was
dercd n "piltcr." hut that Is M
Ter true Today something like
Ter cent of the daily business
led is In odd. lots representing
* from all parts OF the country.
being realized more and more
odd-lot investments are IN i'm
,nnt factor in tho courtrv's no
|l financial and Industrial u,n1