Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-08-05
LARGE BUYING ORDERS
FOR RAILS WITHDRAWN
Declare Prices on Seasoned Shares
Advancing Too Rapidly to
Suit Investors.
DESIRE SMALLER LOCKS
Sugar, United Fruit and Intcrna-
tional Harvester So Scarce In
Loan Crowd That Premium OF
III OF Per Cent Is Demanded


NEW YORK. avg. i.-l.arEc buy
Ing orders FOR seasoned dividend pay
ing rails were Withdrawn from the
market yesterday. presumably be
cause prices were advancing; too rap
idly. To-day the same banking in
'crcsts that withdrew the buying or
d:rs In the rails yesterday put in new
buNinE orders. but in smaller blocks
and with Instructions 10 take what
"t"ck WAS offered without bidding up
pricca. Now York central. Northern
Pacific, Great Northern. Union Pacific
acted very well today. considering;
tho advance that has alrcdy been
Fcc:c.' since the upward movement
started
Several shares Scare.
sugar. tnitcd Fruit and Iutcrna-
'lonal Harvester were go scarce to-
day IN the loan crowd that Il premium
9! 1t Of per cent VAS demanded
!'- TIE use OF these stocks over
night That means as on every 100
shares The large outstanding shoIt
intcrcs; in these stocks ami IN others
Nh. Cruc!blc, Atlantic Gulf. Ancr!-
AN International CORPORATION. United
S;"ic, steel. Mexican Petroleum. ar.
he"om!uS nervous over Ia. strength
being displayed hy the rails.
, l.CaEo diSpaichc, report that the
Offering OF s25.o0O.oo0 Swift * CO.
o"r con; notes made early TINS week
"as ovcrsuOscEihci hy SiO.OQo.OO0.
In connection With the plans 10
refund tho outsiamdlu; government
MAJ d"bt with Il nearby date OF ma
iu!i:r. t60.2aS.Glc bonds wcrn pur-
EA>.d IA the op"n market by TIC
Treasury during the month 81 July
tor retirement. This total iuciudc:
S@i u,a First Liberties. S6a..oO0 az IN.
second loan. SipOO.Urn OF TN" yhird
'os.u, }l."3u.UGC ~ the Fourth loan
ana {a1Goo.o0e %: The Victory notes.
= b" advance ia tho victory notes dur
iIS LGiy amauutct; to 20 OF "a point
whe'"as gains nt from - t" - OF
a po.u4 occurred IN Other issues, ana
$50 ~ ;ho , i.2~ 81 1882 and 1927.
Hands Attract Attention.
Forty rcprcS,niat.s" bonds a..
,aaycd on .iu avyrag" I.lt points rur-
I.e .iul! Tho Iargcs; gam WAS IA
ruoita u,hiuy ..su's, amounting To
81 points. In hjgh-rradc r',Ii- the
advance Gas 222 points; IN second
-Tadv rails. l.sN. ia iudUstriHis jhcr.
vas :. Gcclin" of 81" of "a point. Tho
hond market from uOw on VIII at
tra.t muE. attention, as = price adj
vance j. expected - Offset the decline"
IN nancy ritIc.- 80 far IN" advance
90 tile boad market mas only started
from tho years low IN" present
..vcraE" rr,,". % ioriy representative
bonds 10 - points below TIA" average
price ut ;ha sam" iSsH"s IN January
az IHl7. or before wc entered ihc
war and Ucgnu - put OFT war bonds
:, uahcy uiI E.ghcr iuicr"S; raves
The Jlyiupia arrived today With
i0l .orh pound. %; gold aboard from
ENGLAND
While Il =. generally recognized
;ha, tho sjcoi trade Is IN th. worst
condition iu years. som" traders are
Guyin& steel common on the hci.H:
i..ai ihrv. II a large short interest
in this stock, tina; tn" floating sup
ply ~ constantly getting smaller,
hat some time between now and the
cnd oi this year the management; OF
the company viii go into the open
iuarNct ana buy some 100000 shares
10 be. oGcr"I at the end OF the year
TO employees. II is figured that the
toatinc supply of steel common -
nov, only .0U,O0o shares aratns; =
800. 600 shares ON - very irw y'ara
ago.
WIN laI * the 2oa railroads Of
ito country in class reporting net
operating Income for June Of SAP
9s5.nO0 aguius; AN operating d"ncit
OF Sl5.SgS,O0n for the Same month "f
las; year far-sighted traders who
nave proNtcd 10y the recent ehaT0
ADVANCE in the rails are turning their
attention TO stocks az public utiIiiy
corporations, The very same factors
that explain the Increase In the net
earnings OF th" railroads apply to
the public utility corporations lower
wages. Increased efficiency on the
rnrt Of the men. lower cost Of fuel.