Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-19
UNCERTAINTY SHOWN
BY EXCHANGE TRADERS
Price Movement in Oils, Stccls
and Motors Irreg-
ular.
NO SNAP IN DrALINGs
entcTcHt Dwindlcs when Murh-Ad-
rcrtincd Advance I'm Cost for Crude
FniiS To Observation-Disclosures
Keeps Growing.
uy *. J.. ltnrnuIn.

lily X. J.. Hnrnum.
NEW YORK. May lS.--Today was
ha1other nillion-sharc day. but with
she stock market giving unmistnk
eblo signs chat traders were labor
inS under doubts and uncertainty
Ono stock after another In the oils
ete"ls and motors was taken up with
the price movement Irregular. The
rails acted Ike they we're going to
do better. Copper shares were again
:trong and again the feature OF th-
market.
Traders In the oil shares are IN
certain as 10 whether prices are no.
now high enough. beyond question
tho snap went out OF speculation IT.
tho oil shares when the much ai
rertlsed price advance tor crude dll
no: ma,erializ". and wu"n on inc
other hand production Kept prowlu@
with supplies Of finished products
at now nigh records. In the Stct'
shares trades are uncertain az OIL
whether or no, officials OF tn" indie
pendcn; companies can agree on
forms. what the prices VIII be IL an
agreement !s reached. wat thc GOV.
Ernmcut VIII do 10 stop tho proposed
MERGERS.
Samuel untermyrr. COUNCIL for Tho
Lockwood committee. began today To- /
crosE-cXemin" officials Of Lackt-
wanna and Bethlehem regarding the
details 81 that merger as agreed
upon by tho directors of both com
panicS earlier IA tho week But most
% tho Important men werc star;'n;
for Washington for iouights dinner
At the WHIT" iious", and h"nc" w"r"
not available. From Tho few wi'-
nessc. cross examined tutcrmy"r OBJ
tanned no Information o! Import
Hncc.
Predict Higher Copper.
Ono 81 tn" interesting uc"s de-
volopncuts of the day MAS q further
advance 90 copper prices. this tim"
.hc quotation ON export hciug 'rHis"d
70 - "a g g. T. HAMBURG and British
ports Predictions are being freely
made here now mat within Il m"n'h
noppor for domct.c uS" vii! o" sol.
ing q, IL cents 4 pound or h!gh"r
copper sold IN 1919, IN" year hefor"
IN. wRr at II cents. In 1914 h"i"r"
the war buying developed h"r" the
price dropped 20 ll.37 Tho differ
cncc between tho present nric" and
the high for 1919. IS the difference
between an annual operating LOGS
and a very good prch'
Money renewed today at , IL per
cent. and tho banks ar" having
hard time finding borrowers at thA'
low rate. Every night there !s q
lot Of lcudablc money lott over IN"
banks would rather hay" money !eii
ovor this way than reduce the rate.
ON a number 80 deposits Is much a.
3Io nor cen, b. paid Naturally IN"
banks do hot want 90 pay more on
Gcposi,s Than can ho chrn'd on can
loans Time money Mas also easier
today
Exchange seat brings a.."on.
Thcre was an idle car surpins on
May 6 % 52l.7is ears, decrease com
pared with the previous wee" OF
az on January the idle car
su,nIus was 22.s32 Around the mid
die Of March owing 10 tn" d"manh
for coal cars the hgur"s dropped |"
saI.7nl Tha, was the low point ioF
ON thursday. May ~ o,277 shares
q, tho BANKERS Trust COMPANY STOCK
belonging to tn" estate Of r. g r""-
verse viii b" sold At public auction
offerings Will b. made In lo'S OF
from on. To nfty shares, and then IN
lots of 100 \ syndicate mad" np or
crcials and directors of the HnnN"r-
Trus. Will make Il bid Of 1910 "a ShaFe
GOV every share offered
An advance OF 500 vas announced
today .Or inc Ear! -h"''' - -
,ar. officials o. the company sain
mat orders were taken last week
,n- ! 600 cars that the plant Wa
running on IL schedule OF htty cars
:, dav; that the deliveries were be
hind sixty days.
4 stock exchange seat sold today /
at s97 900. The last sale was at S9s,-
600.
President Krcsge, Of tho : =
ErcsEc company. says retail mer- /
cnandising continues strong and thht /
he looks for good business for thc
rest of 1922. not alone for the chain
but for general merchandising
steel shares Helped.
Kansas City southern starts the /
April railway earnings statements ny |
report!nE gross OF Sl.54i.O00. II de-
crease OF s32OOOO compared with the /
Same month Of last year and net I
after taxes OF S2i4.0o0. decrease oi i
$4,000 For the four months gross /
OF $3.50 900 Is down slll'.Noo. ana |
net after taxes OF {i,ijS,O0o is or ,
sos coo.
steel shares were helped by the +
news which came from CHICAGO De
fore the opening that all grades OF :
mig iron had been increased II
ton TO .23 Basic pig iron prices
which reached SO ton In l?2o 4
dropped to sl7.15 this February.
since then there has been Eradual
recovery.
Production of crude oil In the coun-
try for the week ending May IL was
l,42o.40O barrels. the American Pc
against l.io7.i50 for the previous