Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-09
LEADING AUTO MAKERS
TURNING OUT MANY CARS
Studcbakcr Will Ship Over
10000 Motors During
Month of March.
STEEL PRICES TAKE BOOST
l'ittHburEh Conl Reports Dencit of
E31,U0 for 1921, After Dividends
Against s7,i81.O0O surplus for
1920.
STEEL PRICES TAKE BOOST
Ky II. l.. Dnrnuin.


NEW YORK, March S.-Today's
STOCK market was n repetition of
other sessions this week. traders who
mad sold out their long stocks trying
10 get back their holdings without
success. One OF the largest and best
known operators In the market. nc
cording to gossip. has taken very
severe whipping since last Friday
trading on tho short side. Prices
opened higher this morning, aJ.
ranccd. then sold eff on bear raiding
hut only to snap back with many
bears being converted to the long
SIDE IL was reported today that
the pool operating in Studebakcr was
really trying TO get prices down 10
get back stock sold last week on the
rise. but had about given up the sob
an Il bad one.
sInke Many Autos.
one large Broadway house In close
touch with the automobile industry,
predicted today that the four months
ending with June would show the
leading manufacturers outside OF
Ford turning out the largest number
OF cars on record FOR that period ],
was stated that this month Stude-
baker would probably ship over TO-
200 cars. tnat Buick VIII shin more
cars than Studcbnkcr and that Chan
dler. In proportion to it's capitaIiza-
Non, liz doing az well rs either of the
companies named. No one outside OF
tho Ford plants has any Information
on which TO make estimates The
period or large earnings for the au-
tomoblc companies runs from March
To September l.
II was learned today that the light.
iour-cyiindcr car. which w. c. Durant
recently said lie would make for some
unnamed company. is for the Starr
COmDUny. az
inc car viii be called the Star: that
IL VIII be put On exhibition at Wash
lhgton this coming Thursday; that
II VIII sell from 1919 To ssi5.
steel Prices Advance
Definite efforts are now being made
. 10 stlNcn selling prices FOR finished
steel products. the Inland Steel Com
pany announcing today that II had
advanced general selling prices on
bars. plates and shapes 10 $3.50. fol-
lowing the advance made n few DAYS
ago by Jones & Loughll,i. from si.a5
10 $3.50
Recently prices have been quoted
several dollars below these figures
10 large car manufacturers The
iron age reports today tina, the main
erect 70 FAR OF the price increase
named by Jones 4 Loughlin has been
:. 10 hcceniuatc tho Discrimination Of the
manufacturers to take orders around
existing prices for forward buying.
rho FIRST week in March IL was re-
ported, has seen no general increase
In operations.
american Sugars annual report
published NJ noon today shows an
operating loss Of S2.ll7.0OO against
pFohts year ago of SlsO2o 900, a
orfcit after inventory adjustments
aad dividends OF S5.3lIOOo. against
last years deficit OF SIO.6s6.OOo with
the profit and loss surplus down. To
sIi5i.ooo. against sl2.iG5.00O a year
ago. Last year was the wors, I'm the
comphhys history; but the best opin
ION here now IL that the sugar in
dusiry has turned the corner and
mat good sugar securities purchased
around existing prices Will in time
SHOW handsome profits.
victory notes were purchased nv
the government during February to
the amount Of s2i3.923.00O. making
inc outstanding amount S3.269.TS6, 900
ne original issue was si.495.3I3,0 200.
More VIII be taken In by the govern
"'cht this month for tax payments.
Cali Money Drops.
Cali money opening at . drop
ped To and Wall Street was flooded
win Tumors that the Federal Reserve
hhhk mere, AT its meeting to be held
late in the day. would reduce It's re-
discount rate 10 per cent
heports were heard here today that
In!!man after all OF the details OF
the merger with Haskell Barker have
been ironed out, will declare a stock
dividend.
bankers say that there will be no
underwriting OF the New Haven
per cent bonds to DO offered to hold
ers OF the s27.O00.o0O As, maturing
Anril J.. together with 10 per cent
cash This offering will be watched
with much interest, as its outcomo 70
New Haven is very important. The
outstanding per cent bonds ara
mostly held In France.
pittsburgh coal reports a deficit or
S5i.oo0 for 1921, after dividends
against a surplus for 1920 OF ST.
$4,000 ~