Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-05-07
REDUCTION IN REDISCOUNT
RATES CREATE SURPRISE
Reserve Ratio os Georgia Insu-
tuition still Down III iG.2.
METAL rKichs AXE LOW
American Smelling PASSES Diys-
hcnt-iir.st Time Since 1904
This Company Has Failed to Pay
Stockholders.
Iiy u. l.. B1Tnuni,

StW YUltIl, May G.-un short Gov
erin. M"Nicau Petroleum ran up iiSv
points showing q recovery % over irr
points from me low made las wick
ou tile Washington dispa'rhe@ re-
iuriirE the probable short lIt" rs fNe
Mostc;,u utt n"4ds. IN" tobacco shrrrs
We're ago rtruug todar aul - NUM-
irr of T.lt Including &prIoll, ull
Western. lrulgl halloy, Reel, Island
Hrst pr.f,yr.l, Union Iac.ue ",r. up
two points on more However. 'r tn"
induHtrIlla there NAB uuul- ttkahle
'yih.urc of prudt tnlinr ilu' the
rtoc-s thus solid wero w.l taken.
Despite th. ;tet that ibc large 4t"rt
Interest that was OUTSTANDING hnt
no"u uretty ".ll cleaned uu til. con-
wac that :Iter perhnps a moderate
reaction tn" upward priCe movement
Wall stree, Surprised.
ana tn" New YORK redirrount rat"p.
tic lowering OF the rate hY the NJ
lhu'A f'scrve. BANK came. "a Tur-
ratio ur tho Atlanta iu.t'.ltor, re
c"rdins to- today weakly onnk r'ate-
mout IS etti down 10 49,. That re a.
vc.E ago Int far below Jh" shuwinE
mado By o'h"r banks. For "NarO.'r
Chicago W. now Up 20 .H.as New ok
- "h3 i,hu2d"Whia. SOS St. Louie
tn" sysicm AZ whole the rorooy"
ratio + nov aH3 against % week
ago. 3uu - Al thlF i'u'" iHFt i""r.
tail7r made rain last wrok to
tol auainst 3H2 the week Evtnrv.
Minneapolis rs up TO 49, ayaiuf' 4"...
;'ri Kansas I!'y to -. compared With
IL $40, shows a loss ~ G-iO %
p"r c'nt Cleveland drorpci from
w"ok "Eo, L" a. liehmoni.
was dow, u points I" 40.
Dividend Is Passed.
hi,n'.ls;,n s"c, ing pass u. !;El-
since 1909 no dividend haS been DO
'laTut!. From 1909 20 irlG. per cent
wac paid: from 1910 - March OF
lHl., tho annual ratio vas 6 pcr cent
since Ia" dat" last named ) pcr cont
has hgcu paiI Quarterly,
Nft"T tho W""t!u. Frca!dcnt Gug-
been pass,d N-cauac purtly OF The low
selling prices - metal, al at which.
w!iA the execution OF lead which
Ans Just areH .ncu,Iaed. ugc ceiling At
iniG'a had boon closed Down VITA
othcra running ~ --cHtly reduced
"Hi@ut 'hNi wagsa had b""n oUt on
tHr aF"ra~" 80 Usr cont; MA. cvcry
aAt 'Hr pn4st NiSt!C Vie" %: tn" "a
i.ty sAalli Ngt D.. taken. because do
!.n,4 N"a n,-hd TO catch up Win
tl.m M,u' .ostsr Ens!aua ID WAS
'nAte- tlAt i!.c Master Cotton spin
me- f."'Tatpn had just i-,.drd 20
9"ateti'n y - "hCoHThE!HG tha-
labor IN TIC building trade through
out th- eonorrN 3" ,"ns 'd"r.nf- ask
.iis Tor a reduction !n "agrs. despite
~. Hsre'Hr.rt Iow n force, =" lillian
Hutchinson, president OF tho Unite!
lf"t- f-9aG 81; Carpenters uud J.IH-
'r@. r.nr!nE after confcrenc" az
."i~ . 49,. Want tc be f'!r aad
9Hs Ntfr "!-.tHE - accept any
'GHitHb.e w.s.e itGJuHtIucHt mat will
T." NUNS 10 vicw ~ ANY reduction
!H the a.sh cos, VI llv.UE
Statement IL H"mnrkahIc.
Is r"iulrkahi" statement %! earn
irEs is reported b. ISL railroads. rep
r"srntne 80 ilcr conf of TIA" mileage
u the country !or tn month OF
january on This year the carriers
'hln! rs +J5s1Nu 20 earn their bur"
operating "Npruacs AID taNcS 10 say
iHiHins OF EN"i interest charges and
dividend rem -cinuHts. For Feb
rnary iH"r. NJ. an operating doncit
o. uD ."nh than |Ifa.t,uyu. Inr figures
.2Ir0p miles % the tpiai 2&5,D0u miles
operated show net operating inrrmc
OF F2A.@23.np This i= NOT only =
striking IMPROVEMENT over tho iirst
~" months OF CHS year, bat COM
pared WAN March OF 1890 thero is Il
gam In net income ot la2 per cent
Gross for March amounting 90
S1di,O"'.go" shows an increase 81 only
"ro-tuuth OF one per cent coluuarcd
with TN" corresponding period OF
!tYt year. However. thcr, was q
slashiuE of per cont IN operating
"Npons'- rms app.ed e. 5f3hooo,
Uadc IN net income
This can only mean that the rail
Way situation is rapidly changing Tor
tn" better
\ follower to the story coming
from WASHINGTON that railway labor
has ALREADY agreed 70 . cut IN wages