Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-07
MOTORS ARE HEAVY AS
WALL Street OPENS
Willys-Overland Cuts Prices
From SIS to $500, Efec-
tive Immediately.
CORN rnoDUcrs GO STRONG
Sterling md Other Foreign Exchange
Sells on ON Cables That Lloyd
Georges Days Are Numbered us
Premier.

NEW YORK, March s.-Tnom the
opening OF the stock market today
until noon prices were inclined 10
sell off, tho market having water
logged appearance. The Consolidated
Gas decision handed down by tho
supreme Court ut noon. however.
brought about some recovery. That
unanimous decision declaring Invalid
the S0-cent rate for 1000 feet fixed
by the New York State Legislature
back In 1906 was greatly 10 Wall
Streets liking. The court decided
that tho rate charged after January
i. 1918, Was coniiscatory and that the
S20.00o.o00 fund !mpoundcd By the
Consolidated Gas Company TO Jan
nary l. 1922. TO reimburse the con
sumcrs II the <l.20 ratio charged had
been declared illegal BY tho courts.
belonged To the company.
I3 Companies Affected.
Thirteen gas companies In Greater
New York. were affected by today's
decision which carried Consolidated
Gas up six points TO 1922. new
high level for the year. land there
after declining TO two and one-haif
points quickly crossed l06. The
price in January was eiBhty-fve and
in 1920 IL waB scvcnty-one and three
quarters. Every year before the So
cen: law WAS passed Consolidated Gas
fold well abov. $500 IA share.
In the hest banking quarters here
Tie belief prevails that the stock
market VIII be in a much better po-
sItion to resume the advance iI the
decline goes further.
Banking bringing out this morning
the Offering OF $4,000. 900 Argen,in.
.vc-ycar per cent notes announced
gha lie at .
have been sold. The issue vas large
Is Uvcrsubscribed.
Exchange Sells on.
Sterling and other foreign exchange
sold on today on cables indicating
nat Lloyd Georges days az head OF
the 'asiiah government were num-
tered George Is the only prominent
man In any country now connected
with the government who wax IN
o:icc when the war started. arH
those who have followed him closely
MI! not believe he is through untu
his resignation has been accepted
ana his successor has been seated
George has way OF falling back In
The procession only 10 take an un-
expected snort cut across lots turn
ing np again in the lead with the
crowd following. Exchange like the
STOCK market vas Cue for u set back
iiTcspcctivn of til. rumors OF Il change
~ the English government,
montgomery Ward reports Fcbru-
"ry sa!ss At S5,1sj400O. an increase
oyer the same month OF last year
OF 90 per cent. and the first month
-iN Increase since August OF 1920.
Woo,worth shows for February $40.
$4,000. an increase or $4,000, with
me .ncrcnsc Tor the two months
OF !2lj!ppU. The ten million marx
10" February was crossed for the
hrst time this year. OF the Sg52.-
COO Increase Tor the month 1851. 600
come from stores in operation for
more than year. For the two
months ti.J63.c00 % the Increase came
!tom old stores.
John Lambert Dies.
John laEihcrt died In California
'Gday. lie is the man who with
la"hc E!"ood made the first barbed
"iFc and hired John W. Gates to
20 out ON the road and sell it. These
men mad their little plant out In
Illinois and were short OF WORKING
capital. Gates would get only n
fourth over his territory when Ell
wood and Lambert would start wiz
ing him franticaily 10 stop selling
ana come home. Gates In 4 few days
would sell three or four times the
capacity OF the plant for months, and
his employers would not know where
ON earth they would get the money
10 make up the goods TO fill the
orders. Gates. however, soon learned
10 keep ahead Of his route. and
mus avoid the kilograms begging
hlm TO stop selling. II was Gates
VINO subsequently, took the leading
part in the formation and promotion
Of the American Steel and Wire Co.
ana its sale at $40 share To tn.
United Stntes Steel Corporation. one
OF mat company's best money maxi
crs. Lambert is the last OF Tho old
Gates crowd. For years Lambert
las been ii retired capitalist, ny.
ing most OF tho time in California
Coat Productions Up.
Production or soft coal for the
week ending February 90 was over
lc.250,OO0 tons. which was far more
than consumption. 1t Is going into
storage in anticipation OF coal
strike on April !. Today's reports
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