Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-31
STERLING At HIGHEST
POINT IN TWO YEARS
British Exchange Sells at
Fraction Above 1923
on Market.
FREIGHT Cur PHOPuESIED
tram" LrnGue Head Asserts Orders
l'"'" Ihcs In All Lines ncrnuxe
Hnsin"& Nrn Believe Trnnsporta-
tiDn Costs to IDrOD.
FREIGHT CIR puopIJEsItD
Iiy u. J.. IBsrnu,n.


NEW YORK, Jan. 3o-Opening
prices on the stock exchange today
WEI" fraction lower on the average
ana tn" downward movement con
'i"u"I most OF the day, new low re-
cpfds being mad. for American Su-
i"atra General Motors. l.. s Food
PRODUCTS and Il number OF other
:, sprc!nliti"s
Consolidated Gas. on the news that
thcfc would be no Supreme Court de
''Niou Ia the S0-ccnt eaH case sud :
Hrnly broke i've points The dIyi-
"end on Consolidated Gas was held
ny ~ the end 0f las, week in antici-
lHtiuh 90 e decision today which
would permit AN increase in yas
rates III" executive commits. of
'4r hoard of directors, which has been
Eiycu power to ac, In declining dIvi-
"'uha 10 this particular instance.
meets tomorrow
1lIo regular rate may be declared;
Tor "hNious reasons the dividends
4 may b" reduced or held up. There IL
10 doub, however, but that the com
rSiy' by using IN. accumulated and
current earnings 81 subsidiary cor
H"I''t"hs. could bay The regular div
'",Hl today. II the directors 80 de-
sterling Makes Advance.
outside "i Tia. stock market. to-
"Hy : most Interesting news develop
inrni was ia. further advance in
S'"TitnE TO The highest points in two
|'"Fa, aud even today's high rate
was only touched two years ago FOR
very short period Around !
"ci",'i, s'crl'ng sold Il fraction above
ti-S Tho closing last week was
. f'-i - i double bottom was
made last year at t363 The low
time price was 1918, the lowest
IA mo Hcars. To get back 10 par.
'i.NG must ne reached. Their. is a
la9Ec short interest outstanding An
sterling. Then Germany H. believed
!" De n large buyer to prevent IA
iyie.d loan. Then our exports are
iiii'hH IN. The factor last numed is
"+'i'Nrd 20 ID" the most active in the
le"ofrry in sterling
Sew Haven vas an execution Ia n.
chJ wArHet That stock being very
strung amd active with a new high
rtie" being made for the year. A
ia|nT"bla decision In the matter of
"tNlH''H OF rates win the connecting
I"liTn3IH rs expected In the very
mar .utur". Nnd IL Is believed, too.
max progress Is being made In hand
nag tie reGtn'iirE Of the companv's
100000 bonds falling due Apru /.
iHElinEtdh's ncw bonds were traded
=. .i' 'tgay Win the Initial price. 81 "a
i"idins Orders for Freight Cut.
H. tis'hdIer, president OF the
Naupam Ihdustrial Tralfic I..ayue
'Nyl"s-"! tile belief today bcfor. In.
!iters;atr Commerce Commission in
'h" = rding hearing to determine
Whrih'r 81 not freight rates should
"t reduced that sentiment OF bust
i'-r men IN general was in favor of
REDUCTION III rates. lie thinks tina,
ORDERS ia MI lines OF business ar.
N'.'N heIH BACK until freight rates
i'hHt 81. II was reported today
..Ai ihe United States steel COrpora
ru had Joined the independent steel
'tihihni'S IN requesting the Inter
f'.ir commerce Commission to wipe
.-."i "Ii Il the remhiiapg increase OF
1' ger cent IN freight rates made in
some people seemed greatly us
''i'N' over The news that the Inter
H'"i' 'pmmcrce Commission was
preparing q" enforce the new trans.
poi "''ou act requiring railroads
"H".nE over per cent on property
recount 10 turn half of the surplus
over 10 TIE government for a rail-
""t lnaa acCoGnl. This does NOT I'm =
,lH"t other Income" and there viii
b" only Thirteen companies affected
N"rI"i> and Western Make, Itruort.
N"Ti".N and Western today made
iA"i!c is preliminary income ac-
Cunt Tor tn" calendar year 1921
mere AZ" some striking changes.
'F"7a amounting TO $s0.IlS, 600. wns
u'"" AA'oVO,opp; not after operating
'Ab,"S"s was s!i.i79.0oO. agains ,
= saul i,puoi other income, s7st, 600.
against Sl3.IdS,oco. the last neur,s
including government guarantee.
Tho ina! surplus after fxed interest
charges. which were the same for
hoth years, $3.50 900. Was equal Ia
a. per cent on common stock. against
- for 1920.