Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-12
PREDICT DECLINE IN
NEW YORK EXCHANGE
How Far Drop Will Go De.
-.,,~ ponds on Mood of
= ir-s
' Public.
nu,ING Nor IMirnEssIv
-A'ernrr'for Twenty Industrial shares
Hrcnk Through Lowest level
Mnhc on Inst Three Slump<-RuiId-
Ing In New York Drpps.
by u. l.. Rnrnun,.

NEW YORK, May lI.-Morc head
way was made today hy professional
traders WIG arc WORKING for lower
prices. and predictions were frocl,
frads that lower prices would he
witnessed These predictions were
made larcT on the fact that III
average for. ,wcnty Industrial shares
made now' hiGh son.s three weeks
ago NJ ~ oS declined To AIS, al
vancod 10 4 new high of gSiS de
Cl'ned to II 10 advanced to e new
hiSh Of 9S.N0. decliuri 10 GiG5 ana
this morning. hrot.' through IN.
lowest lovcl mad. on these last three
declines Tn" rirying today was not
Impressive, but the selling on an
rallies was.
How far the decline now under
way in the stock market goes proh!
ably depends ON whether il is fought
10y the public. Ii the pubic with
rapcr profits stMhboruly refuses to
sell The chances are that tho paper
rrofss Will crentUaltv run into ac-
tual losses one acceptable oNp]ana-
tom for tho r,accut advance which
ran much farther than was ccr-
orally eNpeircd is t1at all the way
un 4, was fought by professional
trader.
Sell Cash RcEisicr business
American Can announced TODAY
that It had sold its adding machine"
and cash register business TO the
newly formed Athi-lndcx Corpora
ton.
Comparatively few have known
that this WAS a very profitable side
line Of the Arsarican Can Company
r. !. Houston. vice-prcsideut and
general manage, of the Tahulatiug
Machine Comnarv. IS TO I've pres idcHr
Of tho new company.
lot Of Studc5pakcr came ont to-
DAY above ia Ia. hut when the price
dropped TO lli IL, it seemed 10 hold
There were lot Of stop-loss orders
in this stock cXerutcd today.
Western Union ~ports for March
gross earnings Of SS.a73.OOO. a do
same month Of last year, with not
For the three moirhs gross was OF
S91S7.c0O. while not was larger by
1886. 600 This company. like tn.
railroads. has been able in the face
Of falling gross to make drastic cuts
in operating expenses.
Washington reports that for the
month OF February the class ono
railroads employed l,5i5,0O0 mon. a
decrease compared with January Of
6,SSi, and dccrchS" compared with
February OF las: year OF l3l,io3. The
February pay envelopes called for
*Iai52S.ooo. or $loS55,Ooo less than
January OF this year.
building in \. Y. Drops.
Building here in New York city
for the month of April. dropped 70
s3GOl2OGO against isS.i76.0oo for
March. Accounting 10 tcday's figures
For I42 cities THROUGHOUT the coun-
try the April figures were Slec.l'i,-
600 aEains, SCI 34l too for Marc:i.
and sl12373,oOo for Arril 81 las,
year That was decrease for the
country OF II per cent over March.
but an incr,ase over April OF last
year %; Il ny cent
Officials az dependent steel plants
returning 20 younrs,o - ,oday from
al Inspection OF the various --opAr-
-t!ss interested n the proposed -ne--
ger gave the :-r-- -ess.on. according 70
,oday's wire IL o--rs.i"r. ina: .,;'e
o. 10 definite progress mad he=H
made In the proposed plans.
= s,ogs ercr.rEe seat changed
hands rrEay :; - N13 Tha last sale
was 2. Se-Urr This IS Ea--.r- close
i, .a= '.t ".-ia- -" rea W