Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-01
AUTO ACCESSORIES
STOCKS THE LEADERS
ST. Paul Is One of the Rail
road Stocks Showing
Strength.
MINING PLANTS no RESUME
Will street Not Pleased mt Washing
ton Dispatch Eliminating senate
viii Take Hand in Coal strike.
New Cnrs for Central.
Hy Il. l.. Bnrnuin.

NEW YORK. March 3l-Iiouscs
which have been advising their Gus
toners to take profits and stand
aside for a time. admitted today that
their judgement on the stock market.
as proved by tho action OF the tape.
had been wrong. New high records
for the year were made for a mum.
Der of shares with the automobile ac-
ccssorics stocks the leaders. These
houses. however. continued To preach
caution. Today's market. rs has been
the case since the upward price
movement started around the mid
die OF tho week. was highly profess
sional.
Today's most interesting news was
dispatch sent by Charles Hayden.
chairman Of Chino. Nevada. Ray and
Utah copper properties 10 Western
managers. ordering operations TO he
resumed April /. In "a statement. Mr.
Hayden said This production at
first will be on small scale. but in
an orderly manner will be Increased
to the goal OF 20 per cent of capacity
1t is estimated that there viii he no
refined copper from this new pro-
duction available for delivery until
July. and then only 100000 pounds
This will bc increased until there
should be available for delivery in
October 20.o0O.oOO pounds month";
-
Hayden sent instructions West for
complete shutdown.
st. Pnul shows Strength.
st. Paul was one OF the rails show
ing strength today. 81. raul will
profit greatly by resumption of cop
per mining.
American Smelling and Refining in
creased its selling price OF lead to-
day from 40 cents pound To $50.
The price Of lead here In April of
1914. was $50. In October of that
year. II was $50. In April of 1890, it
was /? cents. For months the price
has been dragging at 40
Wall Street was anything Int
pleased at the decision handed down
by the Interstate Commerce Commits
sion today that in farming out re-
pair work on la5 locomotives in 1920.
New York Central had spent $4,000
600 moro than ii tho work had been
done in It's own shops. and that
Pennsylvania had spent 100000
more than was Necessary in having
200 locomotives repaired by outside
shops.
organized labor had been maintain
ing all along that in farming out
such repair work. Pennsylvania. New
York Central. Erie and others were
only trying TO disorGanize the unions
crcasing tho efficiency OF their men.
and IL is felt in railway circles here
that today's ruling OF the Interstate
Commerce Commission will undo
some Of the work done.
Seek ConI Statistics.
Another Washington dispatch. which
was not TO Wall Streets liking. told
of the resolution adopted today by tn.
Senate calling on the Federal trndc
commission for all Of the facts apl
statistics at hand dealing win ,hr
coal industry. Wall Street believes
that II Washington will only keen its
hands on. II will he possible TO bring
about reduction In coal wages which
VII! be OF great benefit to all in
dustry.
Cali money advanced today to
per cent Loans made today carry
over until Monday. There was no
change in time money rates How
ever. there is = growing demand
Tor lonE-term commercial loans. n
sign which is greatly To the liking
OF those Watching tho recovery in
general tradcS. j..
New fork.7rerftral has obtained tho
approval Of the Interstate Commerce.
Commission for its proposed or
Sec.cOO.oOo per cent rcfundinr and
Improvement bonds. 1t is believed
that the company is figuring with
j. i. Morgan and Company for tn.
sale Of these bonds at not less than
go the price fixed by the commission.
and that public Offering will be
maze at higher price. Tn. nro-
ceeds. according to the detailed in
formation. submitted TO the commits
SION VIII be used TO pay off the
S-o'"Voope per cent notes held ny the
government. and other Indebtedness
70 the government created bv ad-
Nances during Federal control for
adhltons 10 roadbed and cGuipmcnt
II is rusnored here that M tho nm
hual meeting OF WillyS- overland
shareholders on May Z. 4 noy. viii
be made by The preferred sharchold-
ers 10 exercise exclusive voting now
er They have that right since no
dividends have been paid in more
than year.
New Cars for Central.
exchange Oh CzeChO- SlavakIa
which has been below cent. closed
last night al olsJ cents ana opened
ms morning at .ols5. Then wan
street heard that syndicate OF In
ternational bankers were planning 10
make public offering carly uey.
week Of 100000 600 p.r cA,,
czecho- Slavakia bonds. Details o,
tn" pric" and yield could not ~. nb
tanned today. 1t IS believed that m.
money thus raised VIII ta suou, borc