Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-05
STuDEBAKER AND OTHER
SHARES SET NEW MARKS
Profit Taking Near the Close
Forces the Stock Down
to ia.
rETiiLEIEM HOLDS MEETING
New High Record for All Time Ii
Made b. the First Liberty I-.'s.
Heavy Observation-Disclosures for New
York central Per Cent bonds.
BETHLEHEM HOLDS MEETING
ny u. l.. Bhrnurn.

-ano'lrr millions har" day on the
stock exchange But unlike yes,er-
dar when tue price trend was only
one Experimentation was n two
sided market. During the FIRST hour
- no less than $4,000 shares changed
r. hands. the largest turnover for
single hour since April 81 1920
when between and O'Clock 74O.-
GOO shares changed hands For Il
80. time this morning IL looked like yes
49, tcra:yS performance was TO be re-
rc"tcd Studehakcr. steel common
ami other shares, as yesterday. did
- make new high records for the year
But after the first hour professional
traders ratd"d tho market. selling
short and urcoverinG "stop-loss" or
de"s. Thereafter there was much
p"of;-;aking. S;udehakcr dropping
from ll?l4 to ia. followed by
losses Of from ono TO two points in
other shares.
Siudebaker shareholders hcld their
annual meeting today. One nt the
-, stockholders wanted to know if
- there was To I've stock dividend.
President ErSkinc said tho matter
had hccn given no consideration. He
did say. however. That during March
all monthly high records FOR produc-
ton and sales had been broken.
Production for tn" month was 1898
cars. he said, with sales 10000. For
the nrSt quarter, ne added. prOuuc-
ton was 26.GT5. an increase over last
year Of IL" per cent with sales %.
0Oo. an increase of Too per cent. The
schedule for the second quarter. hc
said, for 10000 cars G l..
Backus. a member Of tho Studehaker ,
stan OF executives, was elected n di-
rector To succeed the late a. Barton
Hepburn.
bethlehem Shareholders Meet.
bethlehem shareholders also held
their annua! meeting today. with
Chairman SChwah and President
Grace on hand Somebody wanted to |
know II there was anything in the /
widely circulated rumors that divi-
dcnds were 10 he passed or reduced. /
President Grace answered that no
one had a right 10 start such re
ports. as even the directors would
not give the matter of dividends any
consideration until the next meeting.
Grace plainly was mad. He said
March was the best looking month
in some time. with April promising
continuation at about the same
rate.
Prices for steel products, he said.
had become stabilized on higher
lasis. IN. public apparently reaiiz-
ing that the steel interests were en-
titled to advances from the recent
levels. which showing losses.
Operations are about 60 per cent of
capacity. with ship repair work
good, hut no orders coming in for
new vessels.
First I.ibcrty'r Touch High.
With the steel business picking up,
Wall street was not surprised at the
statement made by President camp
bell. OF Youngstown sheet and Tube,
that the proposed merger with In
land and the Steel and Tube Com
pauy. Of America had been abandon
ed The bcs; chance for tho deal
was when operations were running
al 80 per cent or less OF capacity.
\ new high record for all time
was made today for the first Liberty
i!2s These bonds are being bought
by Investors who consider safety
mrSt ANA income next.
Much space was devoted In the
morning papers here to the speech
mad. by Lloyd George. asking for
vote %! approval on his plans for
the coming Genoa conference. one
paper carrying Gahe running a
full page The gepef. feeling here
was that instead Of resisniug. as had
been widely reported from london
LLOYD George intends to stick TO his
job until he has done or attempted
To do something constructive for the
reconstruction of Europe. The con
s,n~us here was that the talk made
hy Enliamd's Premier viii act as "A
tonic throughout the world.
Daniel willard, president OF the
Baltimore and ohio, told the Senate
Committee On Interstate Commerce
today " 9. McAdoo had made a great
mistake ia has recent testimony that
the railroads had broken down in
1917 and hence had to .. taken over
by the government, as "a wartime
a!c responsible for the Impression
that went out IN 1917 that they were
facing II crisis They had repre-
sentative L" 10 President Wilson with
the message. Then whun Wilson de
ciccd to tax" oyer the railroads rail
way officials turned a back scrner-
sault and started running In the on.
posite direction. Yelling AT the TOP of
their voice that hey did no; mean
what they mad SAID
y large short interest outstanding
IN Pierce ARROW ~ being stampcd.d
By persistent rumors O! merger
with uuc.. company
Corn Products Will close down its
large plant at Edgewat"r y j. ON
ApriI - for an indefinite period he.
cause OF falling N in the demand
for glucose
Heavy Observation-Disclosures.
DIRECTORS OF tho Regal Shu. Com
p"ny meeting, at BOSTON. passed me
sl75 quarterly dividend on tho pre-.
fcrr.d STOCK.
Failure during March throughout
tho country numbered 23O1 AN in
crease over tn. same period Of last
year 81 53s per cent, however. Iiah;ll-
ties involved Of 357.5l3,oUO were
smaller 10y lG.2 per cent
Subscribers to the Offering ~ $50 .
oopv"O Ne" YORK Central per cent
bonds will Sc, only about one-third.
owing 10 the heavy oversubscrIptiony.
All subscribers VIII he treated am.
III aIotmcnts This means that total
subscriptions received were between
NSO'OOO.0GO and 100000. 600. E.i.y-
ing mat the issues would bc largely
ov'isuhscriDed. many asked for NOR.
bohhS IMAM were really wanted
From today's news IL appears tha,
j. w. Lamont. with good results
Kept up his negotiations with N.Y
/ leo FOR refundine tina; country.s c,
= tcrhal debts after having returned
: from across the border last autumn
empty handed. i-amon, IL now going
10 f"ris 10 take up with Frenct, and
= English bankers, . plan for refund
ing Mc%!co's $500. 100000 external
. Gra'. which vtil lDEIn1n a,