Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-08
ANOTHER MILLION SHARE
DAY ON THE EXCHANGE
3. & O.. Reading, Norfolk and
Western and Pennsylvania
Are Among Leaders.
BuND MARKET AGAIN STRONG
Large SnIcs of Copper for Export
Arc ACKNOWLEDGEMENTS state
mcn; Winter Wheat Is COnsid-
cred NullIsh.

Dy II. l.. Burnum.

Dy II. l.. Burnum.
NEW YORK. April This was
another million share day on the
stock exchange with transactions up
to noon 7ll.ooo shares. Commission
houses representing the outside pub
lie were large buyers OF rails At the
opening and before noon the rails
wo-o more active than the indus
trials. Customers rooms OF broker
.-c houses despite the rain were
.rnin crowded. Union Pacific, Eaiti-
more and Ohio. Reading. Norfolk ana
Western. PENNSYLVANIA. Leigh Valley.
Rock Island, Southern Pacific. North
orn Pacific. were the leaders In the
inward movement Of the rails.
H-okers in close touch with the mar
ket reported that there was large
br-rnyyinC demand for the indus
trials. indicating an extensive snort
iutcres, which could he used 10 ad-
vantage hy those working for higher
rrices II the upward movement IN
the rails proves 20 he shor'-hFeo'
Northern Pacific bankers have been
limiting for som" time that impor-
tant developments were pending. To-
dav il was learned that the COM
many has applied TO the Interstate
Commerce Commission for permission
10 call AT lo3 i-o the 6lo per cent
bonds issued YEAR ago TO refund
i;s half or the then maturing s2l5.-
GOO 600 IS originally issued In con-
ncction with The purchase OF Nract-
Callv all Of the outstanding Rurling-
ton stock. The now si-2s issued
vcar ago are convertible into per
cen, bonds Now the company wants
20 call the outstanding us NJ
1922. raising the money by me
k,c ~
sale Of per cent bonds tnus
ducinc tho interest Charges per
cen; on It's half of the s2So.ooo.ooo
nrtccn-vear outstanding bonds IL
yrould seem that this plan Ats In
with tho recent action 'ntHn pE the
Northern Pacific directors in reduc-
ing the annual dividend rate from
rer cent TO 3. The per cent saVco
annually In dividend GhaFses %" @
.p4s. goo. 600 outstanding Northern
rac,nc stock will be kept 10 huhd
n, Inc margin OF safety on all out
Standing bonds. including the new
as This will make the new % easier
Z, sell. In the lonE-run me Share
holders as we'll as the o"ho"o'"''
vi 20. the benefit OF the proposed
and also OF the husba ndinE
az resources by the recent reoue''o''
in dividend
nond Market strong.
lie, vas again very strong. IN
,.-horouch Rapid Transit IS ieao'hs
;,h a, advance OF "a points on
No announcement OF the nihhs "
,.dur,ng the rental which the con-
,snv NAYS for the Manhattan ~
vated from per cent TO 10,
80, year. beginning July J. next
~ he mex, two years. and
ss,.e- Railroad bonds ano
80. states and Mexico issues "ef.
..-n-r Treasury officials predic'er
.'asv,ha, al! OF the government 20"
t--Es would go 10 par sao t'"'
Tsw Haven reports tor 1871 silt.-
.se gross againsI E.;.5ieooo for .
" r:-5ss :nco-ne was ,l2.7s,ooo !
Grains: s55s.orp FOR 1870. Las,
ss-y ,-:.-..- and oth=r fixed
--f-z.s ~s-e Iss;i:.ott. making
. ~ .-t veE- %. t5s@e-eEv
., t+a-: Ger 1870 Of s2Ttz9.- .
= q ne:hiuE has been SAID Of
. q. NIX -E1y - the trat1r.'E
So sfhe ,e- etnt bones "+is
r-s< IL s.. exchange sor We -
IT, - .eIl due ..p'l :.
rE. . al. ~ 20. ? ST. ne p G
,-s --s.sl ;ip - =. cents. aEa!ns,
--e.n- .zles o: -
wff4 -. MARE, to- grain was
Closed wien -he govern-nsa, issued .
!rs rsror, O. winter wheat g o.
a.-I ne figures ws.e considered
sul.sH- The co-d:tion vas given e.
:t.. arainst 80 .or he same day
las, ysa- ant $50 tor the ;en-yesr
In IL rev!.w o. general trade con
d,lons a. me clos. o, March ,hs
Federal Reserve Board says there
g. nearer approach toward sta
bNiiy IN international and Industrial
relations that has existed a. any
tim. in the recent past" adding:
The inward trend q production and
the s'rouse! banking position In the
United states are unGuestiO"et."
Employment Incr-nse..
Thi, seems TO Il, in Win the state
neut the United states employment
service - Washington maXes that
reports from 1875 different firms In
sinty-aya different centers show at
The end % March sn increase IN en-
iluyment o. IS per cent. compared
with the close of February.
Moreover, since The close OF March.
oarh day brings concrete news Of
further Improvement in general
trade This weeks early develop
m.utS include the highly eucourag-
y.
followed by predictions that there
wii. be- more building this year than
a. any time since Tie war Then IL
WAS announced tha, New York Cen
,rai had purchased 10000 freight
cars. bringing tns car purchases OF
The railroads 50 far THIS wear M 70
more IMAM twice those :ur the whole
q: 1921. Next Pennsylvania. after
buying $50 steel passenger cars. an
npunces that 1t Is going 10 sp.ud
r sS,"0D.O 600 IN the Pittsburgh district
a. the beginning OF program 10 r..
= Neve the transportation situation
= thcrc that may call FOR 800 900. 600
Today New York Air Brake. when
7 has been running thre" DAYS a week
Announces that on MAY u Is golnp
l. START its big Watcrtown. \ Y
1 plant on !uIl time ana hire mor. m.n
10 ta"e care of the new business Al
- read? placed by tho railroads
Z. Warrington dispatches say INA, mo
- Jnierstate Commerce Commissio,
authorized Illinois Central Ia ie.r.
- equipment trust notes TO Iay for 81.
- refrigerator cars 10 be purrhasAd
- from Pullman. Union pacinc an
NJ h.s