Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-01
MOVEMENT or PRICES ON
EXCHANGE IS IRREGULAR
Motor and Motor Accessory
Stocks and the Steels
Hold Firm.
TRADING ~ LESS ACTIVE
TRADING ~ LESS ACTIVE
American Brnss Company Announces
s, Its Second Reduction In Prices In
Three Wecks--Mot0r Chr Company
\ Advances Prices.
by II. L.. Bnrn,,,,,.

NEW YORK. Feb. 2S.-The move
ment OF prices on the Stock Exchange
was more or less irregular today.
RMS Was q natural development
however. following the sharp decline
OF yesterday. which was due to heavy
proHt- taking on the part Of spcculn-
tive traders. accompanied by short
selling from others. There were nu-
however which held iirm. These in.
cluded the motor and motor acces-
sory stocks. the steels and coppars
and some OF the low priced rails
Trading was less active than was the
case on Monday.
Gulf states Steel led It's group and
mainly duo TO pool operations ana is
based upon predictions that favorable
derelopments In connection with the
Gnmpany.s affairs may be expected
from the steel Industry continue IA
yorablc. II IS reported that tho plants
of the steel Corporation nrc now
opcrating 1T about 60 per cent of ca
paclty compared with about 40 per
!. cent last fan and between 20 and %
Is per cent last summer. Predictions
are st!iI being made that II improve
mcht continues prices may harden.
Second Cut in Three Weeks.
Ihc American Brass Company has
announced It's second reduction In
prices within three weeks. Tho la
test reduction. which amounts 10
one fourth cent pound. IL due to
TIE ioWcr prices now prevailing for
Directors Of the North American
aend OF l per cent on the ncw> pro
United Retail stores recovered
slightly from its sharp break OF yes
terday, Tho Streets prediction now
ia mat the regular dividend Will be
paid at the next meeting, hut there
much conjecture as Ia what viii
happen IN the way OF reducing or
passing the dividend after that.
The notehoiders' committee OF the
Columbia Graphnphone Company has
extended the time for the deposit Of
me . per cent notes, About Sc per
now deposited with the committee
Wall Street failed to attach the i'm :
portnncc warranted to the decision
Interstate Commerce Commission un-
der the transportation act with the
authority To NIX mira state rates The
decision scraps all state laws dx!ng
! passenger fares. This Is especially
'simporthnt to roads like New York
Central. Iliinois Central. Long Island
ana Others, which were forced to
pussenge traffic because Of State
laws.
United Drugs Report.
local banking syndicate Is Of
ferinE S6.000000 first and refund In &,
mortgage bonds Of tho oxford paper
Company at esa to yield more than
The United Drug Company's annual
report for 1921 shows net earniari,
ri {3.0o3.3li. but after inventory al
fJustment and other deductions the
! proht and loss surplus which amount
cd TO si.7+5.iSs Mt tho beginning OF
the year was. reduced to ss7i,2G5 at
The United Retail Candy Stores for
lasi reports q de,iclt OF sl,IoG.,5
against a deficit OF S3S3.7:s in 1920.
American bank note company for
1921 reports not income or si.ist.s2l
after tnHes charges and dcprccla ION
against n profit OF s2.l75.gi6 tho year
before. 81: Joseph lead reports a loss
OF slS5,O0l for 1921. after charges.
StaScs, depletion and depreciation. Tho
year before 1t reported a loss OF $3,-
Motor Cnrs Advance.
ono OF today's news itcins did not
attract tho attention which il de-
served-the announcement that tho
prices OF tcmplar cars had been al :
vanced, from $40 to $50. Since Ford
started TO cut in September OF 1920
the price movement for autom obiles
has been steadily downward. The
Iempinr advance is the first to be
announced,