Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-07-28
NORFOLK G WESTERNS
GROSS EARNINGS CROW
Net Operating Income for June,
1900, Against Operating de-
ncit last Year, S2,5I7 900.
CALL MONEY Ar LOW RATE
Head of United Drug, Owing to De-
cline in Stock, Forced To Turn
ASSETS Over 10 Boston Law
Firm.
liz Il. L.. iiuruiIIiI

NEW YORK, iuiy While tho
'"lls did no, adyanc. as much AZ
many p"nDl" expected on President
i'h'ding's m"ssaE" 10 Congress. ask
ing FOR financial relief for the car
rl"rS such stocks did show fractional
gains today, even while industrlals
were declining. l.osscs OF from on.
=" i've points were reported for ken
er"l electric. Central Leather. com
mon ani preferred. Sears Rocbuca,
American intcruatipna! Corporation.
dressed steel Car ana United Drug
Tho stock last named which sold
carly thIa year at loo, has cropped
twenty seven points within tho last
'w"nty-f",Ir hours. Today's dis.
patches from Boston announced thn.
i.'nis Is Ligg"tt the head Of United
brus had been forced owing = the
81" line ju the stock. to turE nls I.s.ts
over t" a Law firm of that r'iy
Liggctt's case is very nucn like
'ha, of " g. Durant last Dcccmhcr.
burant II viii be recalled waIl<ci
INTO tho office oI j. i. Morgan X
'" lat" On" afternoon ana threw M
ms hands Ills AFFAIRS wcr. Sr ar
ranged mat. When a p.tuuCc was
f.mallT struck, hc had los, Il paper
fortune running into nine figures
laEEctt uu,!l today. was considered
20 'indnciil circles vcry rich man.
Ms affairs hay" recently been in the
hhndE ~ prominent Boston bankers
'nll M"nr, Hrarhrs Low Ratr.
'all money loaned today ~ il-2
nsT r"ut Ia" lowest rate iuuchru
SINGS November. 1919 'rhc turnover
200 Call money uu TIA" stock exchange
'I'"r 'nhrS, thar is through tn" stock
oNrnhnS" iu-iitguon handling the
"il in"n"t business. Is between so
oonhnn and slj.nUo"po only rnont,.
$50 Z WAS ~ as high az $4,000. 0n0
H"wev'r all Of The money used by
Stock rN hauGc firms is by no means
ih' HH.t OF IL i- obtained dircctiy
from Wall street banks and trus.
''Hn,nies But "v.n sp call mnn"y
BE- HlI@ on The uark"i
T"i"S Iron AZ, statsS in It's
H"rkiy editorial dealing with trad
r"'f.ilHr* that. during the past few.
'"Fs Iries have declined rapidly
~ w's stated That there wts some
"no""rhrrmru' in thu larger tonnac
Wd"r inquiry.
N'w York Central has placed an
oi'"r wi,h four equipment inaul.-
iar,urcr- for fUun lrcigh, cars ami
n 900 market Tor repairs ipr
aoN oars BunH!o, rochester aud
l'Ii'shurui s figuring uu repairs FOR
800 freight ears
-. q. June Earnings.
New York Central published It's
.lun. ctrui'ts-s today. Gross. amount
l1tg ip y27.SiG.nrn Wa on s2.00u.Dup.
hui net "pc rating income. amounting
80 S5jl".u"u. compares WITH - deficit
tor Inst Jun. # S7o5.OOo For the six
months. IN" c1uIpauy's gros. earnings.
f""'ing up Sl5Inpuooooro arc down
3a."p"uGn. mIt net operating iucom"
coli Sl1,322 900 compares with "a I.ncit
for ia" Hi-t half OF 1890 amounting
10 S5.i3j,npu
Pennsylvania has posted "a notice In
its Wilmington shop Offering its
former wurbm.u ii"c" work 1t was
stated that. d, tho offer was not aC-
ocpiod. Tho shop might Lo dlsmantl.d
Wal sire" was busy today trying
ic n.ur- ont Wh.rr the money is 10
.oinr lro.u which j. 10 be loaned the
railroad. President Harding says that
thr government - not going to put
&, up aud that. because Of the pro-
posed railway financing, there viii bc
no Increase in the governments
carrying charges The government,
owes tho railroads 500 00o. COO back
'cn'Hl and IN" railroads owe The gov
eminent over SI.0nOo0G,0Oc for funds
advanced during Federal control for
improvements properly chargcable 10
capital account
situation Unchanged.
But as the government already
hold- the promissory notes OF the
railroads 'or tho funds thus advanced,
th,Sc charges hay" alrcJty been capt.
iauzcd Thc fact that this $1,000
900 .0ou ana over il TO he funded into
lcu-ycAr notes does not change the
situation.
usually, tn. railroads begin their
regular maintenance and improve
ment work in the spring. as soon as
frost i out OF the ground. This year,
however. because of the expectations
ut reduction in wages, this work
was largely postponed. Word now
comes that. since the wage-cut of L.
Ser cent became effective the first Of
This month. large roads like Penn
.ylvauia New York Central. Erie
ami Lackawauna, have Increased
;hcir working force for the purpose
az rushing postponed maintenance and
Improvement work before frost again
comes.
Favorable Rail Earnings.
SOME more very favorable June
railway net earnings We're reported
today Northern Pacific showing gross
nf Sl..13l,c00. against SiS,oS0. 600 for
The same month last year, with net
81 $4,000. For the six months, gross
was s9l,cn0.0On. against $4,000. 900
with net income at Sli.333 900 against
sl227D.D00. Norfolk and Western, be-
cause OF its export coal tra!ic to re-
li"yc the situation in England and
elsewhere. earned S7,05O,00O gross for
lane. against $6.2S5.000 year ago.
with net operating income at s9Si.-
n0u. against an operating deficit for
June, 1920. of S2.5l7,000. For the six
months. gross was $4,000 600. against
sas.VO0.00o for the first half Of 1920,
and net operating income was S3.07S.-
uUn. against $l,902,000.
wal! street took its hat off today
30 the bookkccpcrs OF the United
states steel Corporation. Last year.
The company earned Sl,2l?,00o .00C
gross. WIZ such enormous earning
mower, there are many ways in which
adjustments can be made TO help out
q lean quarter.
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