Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-09-30
MARKET HOLDS FIRM
IN SPITE OF REPORTS
Bear Traders Make Efforts to
Force Stock Prices
Down.
COPPER SHARES GO STRONG
All or Fifty Million 2 Per Cent Two
Year Argentine Bonds Are Sold
nni the Subscription Books Closed
Today.
COPPER SHARES GO STRONG
IIy II. l.. iInrnillll.

NEW YORK. Sept. 29.-Bctwccn
the sensational decline In German
marks, the threats OF "a railroad
strike. talk or reccivership for two
wcllknown industrial companies
there has been enough bear news
this week to put the stock market
down points. But despite tho eff
iorts OF traders TO Get prices down !
the market has held firm. There
was better buying in the copper !
shares today than at any time in, |
many long month. The rails also /
were strung.
Zig Order Draws Attention.
IN" order placed by the American |
l!rass 90. FOR 5000. 900 pounds Of COP
per has drawn attention to the cop
per shares. IT was learned today
mat buying OF copper is now going
on at the rate OF SU.UOp,OOD TO 30 .
100000 pounds month. As yet no
mines have opened. But even II they
We're to open tomorrow IT would bc
SIX months before the water was
pumped out and copper produced.
Even in normal times it takes ninety
days 10 get copper out Of the ground,
refined and started East. 1t is only
q question of time with the mines
smut down. when the large leftover
war surplus Of copper is used W.
For months past accumulation OF
copper shares has been going on.
on the belief that bottom has been
reached and that much higher prices
are ahead.
Has M Faith In Strike Talk.
railway Official. with an Office in
Walt Street, WAS asked today for
hurry-up telephone cali as soon as
the railway strike was c>'led. There
Is not going 10 lac any strike" was
the reply received. The men have
too much sense TO strike now. They
Know what unemployment conditions
are. our own company employment
bureau is swanpcd with applications
for work. That Kind of news gets
around among the labor leaders"
y new high record for all time in
the number OF shareholders was es
tahished by the steel corporation
when The books We're closed for the
september dividend. the number be
Ing l05.723, an increase Of l,il3 over
June. and "A gain OF 1871, or II per
cent, compared with this Time last
year. according TO the figures made
pnglic today. steel common made its
hgh for all time in 1917 at i36 IS.
In 1916. or while the price OF the
shares was SIM advancing, the mum
h-r Of shareholders was only @1.12O.
since then. with the price declining.
there has been an increase OF ls3 per
cent, The time TO buy steel IL when
the stockholders list again begins 10
Argentine Bonhs Sold
All OF the SJ0,0V0,0OO per cent
twp-ycar Argentine bonds have been
sold The subscription books We're
closed today.
I.ackawamna declared a quarterly
dividend OF 3 per cent today, placing
IN. stock on Il - per cent basis. rs
the old dividend rate was 20 per cent,
This seems like a cut, but ii is not
The company only recently declared
:: 100 per cent stock dividend. when
makes the present dividend rate
equivalent to - per cent Oh the old
outstanding stock. I.ackawanna gives
awuy a coal company declares
cash dividend OF 80 per cent, "a stock
dividend Of 100 per cent, AND then
goes uHcad Increasing its regular
dNIdcnd rate. That is because the
capitalization IL comparatively small
I.ncRawnnna's management and cap
tHii2atiou IL what All OF the railroads
a!y after.
railroads I'll" Reports.
Furty-fve railroad systems show
net operating INCOME Tor August OF
Sc, @3l. ono. These SAME companies IN
..-1 reported oi.5 per cent OF all earn
!a.s ON that basis all Class !. rail
',ads should show for August net
,-cr.lj.ng income OF tSS.900,0O0. which
,au,G be 30! per cent on total prop
vr account OF SlS.oOo.O0
Northern Pac!Gc shows a decrease
81, SHrpuro ~ August gross. with net
operating income OF $l.a33,0Go. against
F.. Gpueit last wear OF S2,7S9,0oo.
u WAS generally believed in the fl
ian.lIi district here today that the
llftgd states Food Products Com
la would got by receivcrship. but
sumc DOUBTS being expressed
aluut CuLa cane. One large Broad
Way house makes the following com
mend In today's gossip 1t does not
seem that the Cuba Cane Z per cent
bondhoIdcrs should he very severely
mulctcd in the end. He is safe
guarded 10 degree by the indcnturc
under which the bond was issued.
The owners of the bonds seem dis
posed to ask what the effect of re-
ownership would he and whether il
would compel the stockholders to
provide cash. y reccivcrshp from
Cuba Cane would be about the big
Sest smash-up of recent times and
might bring up lot OF troublesome
questions"
AS Il result OF speculative short COW
cring. German marks recovered at the
opcning today to .00Sl 1-2 against