Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-28
PUTS MEN ON STRIKE
IN WRONG WITH PUBLIC
Wall Street Believes Hughes
Was Author of Mes.
&c.
"AIi>otT bN LAST LEGS
Rail Shares VIII Bc Greatly U~Inrd
In strength by Settlement of In
duHtrinl Situation, CInim OF Ia
pcrts.
WAI.itOUT ON LAST LEG,
Hy II. l.. Bnrnum,


NEW YORK. July 27.-RaiIroad
STOCKS responded with A SHARP adj
Ndhc" 10 President Hardirlgs very
strong letter 10 Dean. chairman of
the Railway Employees Publicity
Association. This letter clearly puts
toth tho striking shopmcn and tho
striking coal miners In wrong with
the public unlcss they fellow Prcai-
dent HardinE's suggestion to helm
maintain la" and order by returning
to work and going hack into tho
courts for r.hcarinI IL they ar.
not satisfied. with representatives.
oi both the shopmcn and the railwal
executives holding conference Win
president Harding today. following
IN" wide publication OF this Dean
letter. which wall Street believes
Hughes ana not Harding wrote. In.
feeling is that both the railroad and
IN. o"aI s'rlho are on their last lcgs.
WHAT will happen stock mark.,
wise II ,hcse strikes arc suddcnly
called orr This question was pu,
tpoh: 10 many people In m. iInan.
cial district. The consensus Of opIn
ION was that railroad stocks would
20 ~. But ono OF the shro wdeF,
bankers In ,he strcet said. "Rvory-
o"dy = expecting Tn" market u go
up Az soon as the strikes are set.
~" anu ipr tnat reason would not
be surprised d, after a brief rally
Depends End Of Strjkes
VIA; really happens however, do
penas largely on how the strikes end
word was received today that tho
coal miners in the PENNSYLVANIA
hrlGa w"r" willing to go hack ,oi
work az the old schedules and xiv.
up 'h"ir demands for an increase in
wages That, however. would be bad
from an economic viewpoint. az tn.
:" per cent increase in wages was
only dema ndcd TO hold 10 the high
"n''.'he wages As labor In all
o'her lines has had "a reduction
there must he reduction In the
wages OF this basic commodity
wall street would not ne surprised
II the hard boiled" railway pr.si-
dents who are standing out against
fe-eS'shlish.ng seniority rights o.
.hH striking shopmcn. received
!"''er from President Harding sim.
!!ar 10 the one just sent Dean II ,hcv
continue TO hpid their present ,.u-.
S!tion. II lis feared. however t,tH
II the shopmen's wage decision ror..
BACK 10 tho Railroad Labor Board
'"cte VIII be "A compromises
st-n Directors Meet.
gu" M'Npi d1f'ctriS, those frpu
out OF town an woii as tn. ou.,Ih"-c
ar" holding special meeting h.r.
To-Day 10 So" N some plan can b..
devised for bidiinG IN tn. stock mat
VIII 81" au,t'op-d on by tn. hnnks
holding II as collateral tor the RYAN
!"ius ih"r" tx 90 per cent of IN.
authorized stock held by The bank.
"".'h means. ~ cDurs. ;hat ;her.
mo D" change d" tn" Stutz man
"E'n"ht II NOR" stock is bought ii
nv single group of on .Idcrs ,h.r
!S heid or controlled by the present
'n"n" cement II i understood ina,
IN" directors nov IN power ar. ,.-
'E1'"ht to let control Of the property
:" For them ~ j. "A question ~ b,,,.
20 hharce tho purchasc OF the sto,k
% "" bought In at public auction
HiE'% opened on the curb marke, y,
'!s bid no offer.
Na.tm"re and Ohio sold up nearly
'"'ht during the cariy.tradinr ON
ih' earnings statement for Jun.
SHOWING gross at S!7.5sO. 600 aratn,,
Sid.3i6.or" year ara v.i,S
operating income 32Gs6 600 acnfr.,
only S12l oo". For the six u,n,,h,
tT'ss Us ScS,6I9.o"o, against s.5.22p-
u"p' win net operating income sIl
$4,000. against S7.63O.OOG For m.
'u' calendar year. 1921. Ral,imrr.
ana ohio earned . per cen, for rs
PREFERRED stock, and 24 per cent for
me common. For the nrst half -,
'"rnihss are At the annual rate
OF hIishtlv better than 10 per c.u,
TOT IN. common, after allowing Ia,
IN. preferred dividend For som.
time predictions have been nado
'h"t d'Eidends viii he resumed ,his
autumn when the semisnnuaI dIvi-
dehd meeting is held.
Meyer Is SnEEcstcJ.
JUNIORS were heard here again IA.
ia! 'n"' Eugene Meyer. Jr, woula
90 'hh"e governor OF ne Federal re-
serve Board. To succeed Y
Harding. Harding was resnons,bIo
Tor inc calling OF many !.rm.~..
loans because as head of the Y.J-
era! reserve system he acted I'm sbsn
!hs me hoiicy Of the system like mo
wise experienced banker ne j.
Meyer. on the other hand. has
!'!ehds among the farmers becau.o
he has been lending them royern
ment money. 1t is easy n ,,at
friends by lending other noonin.
money But aside from this Ma.
Is only known here where he rr,u.
up Tor his stock market operstiony
10 turn out trained man Win h,
proved his ability In such q ,oh 49,.
TINS for man with mind ,r,i,,n.,
!" stock market speculation NAM,
be doing something which M 49,,