Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-03-02
|}RUPT CONFERENCE END
PROMPTS HEAVY SELLING
esnIt Is Same as That Forcsccn
BY Wall Strcct-On the Whole,
Market Irregular.
INAUGURAL RALLY RuMoRs
sharp Recovery in Cotton Price
Follows Early Decline, in Which
Lowest Figures on Record Since
First Days of War Arc Reached.
ny II. l.. nAItNIrM.

First Days of War Arc Reached
RY u. l.. HARNtM.
nding of the Preparations eonfeT-
Illhe result OF lomgwindcd speech
DR., Simons. head OF the German
delegates. which had lasted about
tWD hours and which was interrupted
ny Lloyd George. who claimed that
shelsGerman delegate had said moth
Aeigsdifferent from what has been said
ALSother conferences, and added that
SSaaGhe continued, it would be useless
agQ@go any further. On that the con :
Sfsfence adjourned and the allied
(which should he adopted in forcing
LheS Germans to accept them.
Result Is Little Surprise.
ssssss.This result was no different than
what Wall street expected. and il
stwas just such a possibility which
EsSocks yesterday and again during
1.-The early trading today. ON the
|aSMhole the stock market was irreeu-
Jar during the esrly dealings. with
5555t1JoS small amount of interest center
sSinG in Atlantic Gulf and West In
in view of the postponed pre-.
SIerred dividend meeting which will
Ehe held on Thursday, and in connec-
lEAion with which there is much specu-
Relation in the Street as the ultimate
0ptcome of the affairs of this com
spsny both in regard TO the preferred
Sdividend and the new financing
Jwhich the company is negotiating.
HRTherc is much talk around the
street that the professional element
operating in Cruciblc Steel is plan
ming a raid against the large short
tannr Th'f hs rs storE to nS %n.
an the Street that IL there is any
tnauguraiion rally. which. however
Is expected by good par, of the
trading element. Cruciblc steel Will
t5be one OF the leaders.
After that rally 1t is expected that
fthe stock will move ny f,rthcr OF
mergcr plans which are now being
s&orkcd out. At least this is The pro-
hEram which is. mapped out on paper
|s9by the so-callcd insiders" There
|SEare many things that look good Oh
lSpaper. For instance many German
batle was figured out before hand
bn paper. but the results were not
ANerS oiten as expected.
Sharp Cotton Recovery.
An incident Of the day, outside ii
ancial markets WAS a sharp recov-
ny in the price OF cotton during
he early declines. following q de s
1ne to the lowest price on record
ince the early days OF the war. The
;otton market presents an instance
Il what happened TO those who have
Deen holding back their product for
better price The result was that
the product held back put the mar
sunocct TO heavy selling upon the
part OF those who had foresight
enough to see just what the ultimate
outcome OF the situation would ~,
The result, as expected. was the sharp
AIeciihc III prices, spot cotton yeStcr-
,AS sailing at ! - cents per pound
r. co,n1pared with price OF more
IMAM ~ cents last July
virtually every one is now of the
olQnion that steel product prices
unust come down with the exception
3Apt me few leading companies in the
3g1irade which produce the greater mart
ipI me steel produced In the c"un-
thus Tar there is nothing TO In
sorporation will change it's policy
Ind reduce prices. This. however
pes not mean that they will not do
30, for AN announcements could conn,
ssNerhiGht. Eut up to now. as far
can be learned prices viii not be
fduced By the bigscs, factor in the
TTfade.
General Reduction imprrntiyr
This in spite of the fact maj re-
ports are coming 10 hand which in
-dtcate that the United States Steel
corporation * curtailine operations
sThe independents have done 50 long
ago, and they have also reduced
fsWyages 10 Offset The io"r' Lees which
lIhey are quoting
sThe National city fi.f.k. a.. New
SsSork, in It's momthit et-'c-i.Hr com
sgnentlnG on the situation s..ttcs tina,
6&Sthe United States steel CORPORATION
*gfas made no move TO roduc" prices.
however. that tho officials
4ytof-lhe company ar" awar" OF ~. fact
S{sIuat IL Z tNtNtl T'iECfttH
throughout all Industry
5ssSand that lower pr!ccs Tor iron and
f$T6teel ar" necessary 10 that end. Mo-
9sSEbpdy th!nhs bottom prices hav" been
lssThc annual s;at.men, ol tn" White
EAgAIotors Sompany. issued today shoyy ;
asssnet. profits for the full year 1920 of
ss2if S2,292.77" rs COMPARED wi,h $+9S3.-
ssa71 last gear Tho sharp decrease in
HM1920 was tho result OF ~. writin,. on
HAss<Gtt - V"u Tor n"pI"gFf ion in costs
SS3r HdiEidendS amounted 10 $2iln0li
4fEtich was equal TO Si>2 r-- share
5aBSsS5a the capital stocil Of SJn rar v.,lu,
HfF11fs tanding In The preceding year
44tthe balauc" Tor dividends Amounted
4%%Ss3Rase SGS,ST3. which was coma TO SIS:
ysssaatEr share ~ The stock outstanding at
INS49F Close OF 1"i? ~.
|tkl Net Enrnings Decrease
tS32ss ffeports of railroad earnings CON.
IssesInue 70 show shaGp r.auciiars ian ne,
HES$5Tnlhss' d"$plt" iatr' Increase 81!
HHfETPSS rcVcnu" a. result az til.
&sSHarease in freight and messenger
l4@ates. Reports Of i>> railroads ~
3Sainptied hv the Interstate Cointucrc.
88&SSfptntn! ssion. give gross r,yrrtu. 70,
38#Dsce mhcr amounting 90 E1-u 50 nUn
fakSsesghIch is AN iucrcaSe % sG-la- -G- ID.
With December o' lalH
sksit5in spite OF THIS uurc increase {.
jaExpss income. net operative ir.om,
If5zdtnpuntod To onir $i09 eco yt,irI
IS zs4Dfesents a DEGREES OF sa47auo0
'ff{fs5ag&Eor the full twcly" months " lGgt
S$8gQEs revenue, according to tn. st.,.,.
k$931ent issued by IA" uOfnlu.-.- ..rs
$satnounted 10 &C.. 225 500 uuu au iIrr.a..
more than 81 Oc.00c,on0 to- IA.
Z4A4argest total ever reported %,r Oh
4SETltfne income for tn" t",Ivrlnouil
t&a7Ipounted to only SCI aG40on oi :
8f$hduction Of si5i. 025o0U ]. Is sue,
fS3 Showing which has pr"mpreI III.
tf8gAilroad officials TO request "a T.luc
H2Eippsjn wages. In view OF ,uis IN E,
fs&8htere/ins TO note tbai IN. court ma.
6xBtyen the receiver of the AtI-uiic
yS8B1rgniBgnam and Atlantic rormiesior
4preducc wages Of employees from az
&acials right down 10 unSlti.lcd labor
&s3sRcnnsyvania Railroad rcrprt 4.
!#1920 shows net income FOR tn. wear
#Hfter deductions Of charges and taSrq
#amornting to $3.50! 600 which /
-, =. -<s- -D- :