Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-06-22
SHARES IN WALL Street
GO UP SEVERAL POINTS
Active Industrial and Railway
= Points hi New York.
BROKERS CALL FOR MARGIN
Not Knowing What Would Happen
After Mondays Panicky Market,
Exchange Houses Call on invcs-
tors for as Much as 30 Points.
by 81. j.. IinrrIuur.

NEW YORK. June 2l-Ac,ivn in
dustrial and railway shares were M
from l IL TO = points today, with
Northcrn Pacific up nearly 3, Mexican
Petroleum 3. Asphalt. General Flee
trio and Studcbakcr M 4. The =
kct opened lower and extremely ~
Gus. The discovery started within
the first fifteen minutes
Not knowing after yesterdays
panicky market what was going TO
happen within the next few days,
stock exchange houses sent out mar
gin calls after the close yesterday
These calls were not sent by letter
hu, by wire Customers who had
their margins down 10 or 10 points
wcre asked To put up a. much as
30 points on Mexican Petroleum aud
- on such stocks az Sugar United
States steel, Studebaker and Bald
win.
AZ result Of these urgent mar
gin calls many stocks were sold at
tho opening th!s morning. Tina; ac-
counted for The weak opening Then
banking support came into the mar
ket In the place OF the violent
liquidation that had tccn going on
from the same quarters and the bears
The facts arc that yesterday the sit
uhtior became so tense that banking
support had TO he substituted for
l!quidation.
on" news tom which attracted
vide attention came from Chicago
in the decision Of the Railroad Labor
Board tina, the ~ per cent reduction
in wages agreed upon b. tn. labor
Organization formed within the Pull
man Company would not bc approved
and that the request would have TO
come from the accepted lator union.
The board stated that II learned
through investigation that a major
ity OF Pullman men belonged 10 tho
regular union. Wall street mad. no
effort 70 hide its feelings over this
decision.
Jersey Contra, declared AN extra
dividend today Of per cent In adj
dition TO it's regular quarterly per
cent The extra payment comes from
dividends collected from the Lehirh
Wilkes Barre Coal Company. Kan
sas city Southern declared its rcsu-
lar quarterly dividend Of ] per cen,
on preferred stock Union Pacific re-
ported gross earnings for May NJ
{l2T53.0Oo. a decrease Of S2.7io. 200,
with net operating income at 32,3Hf,-
600 decrease OF only 1915 200. For
the Ave months gross was sG3.9o3,0oo
against t7c977,t 600 for the same pc
riod q las; year. Set operating in
come was s7.75o.oOO asains, &is,5cO.-
GOO Gross last year included 80,
n35ooo back pay on mail service.
Gold To the extent OF s2o.57o. AGO
was received her" from abroad dur
ing the lrst ten days OF juno. accord
lmg 80 figures made public today by
the Federal Reserve Board During
that period only $4,000 gold was ex-
lortcd. From January TO Jun. 20
our gold imports footed up 1924 600,
600 with exports NJ only s5.9al,oo0.
In its regular monthly bulletin tho
Fedora! Reserve Board points on,
that prices OF commodities have
dropped further here than In any
other country. II the 1913 level IS
taken as 100. from that time to the
end o.: April the decline her. was
from 2si To Ii3, 4 drop Of 80 per
cent In the United Kingdom /: was
from 3l3 TO 1919 or 30 per cent; in
France II per cent. Utah Il per cent.
Germany u per cent.