Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-25
COAL PRODUCTION DROPS
100000 TONS FOR WEEK
Fuel Situation Rapidly Be-
coming Serious Menace
to Country.
"1PECT SOME ACTION VERY SOON
vail street Comments FRyornbIy on
settlement Pinn Proposed by OGIe,
Which Provides for Nonpartisan
Commission.
"axrEor SOME ACTION VERY SOON
By II l.. Barnun1,

an Irregular opening OF tho stock
market his morning. after which
selling started which caught a mum
Der OF stop loss orders with tho
result that sharp declines were re-
ported in Studebuker. Bethlehem, u.
). Rubber the oil stocks, Chandler,
Pierce Arrow
Only 1900 900 tons Of soft coal were
produced last week according to to-
DAYS government figures. This com
parns with t.114,o0o tons a week ngo.
100000 tons during tho peak OF this
June. e.2So.ooo for tho week of July
% last yaar. and 100000 for the
seen that tho coal strike situation
IS growing serious and has already
brought about a situation which will
TAX: time TO correct
mere was lot to talk hoard to-
day OF coal being rushed hero and
10 Philadelphia from England III
is underatood that tho Shipping Board
nas arranged for twelve OF It's yes
"sis TO Eet into this business at once
and TINT the number of foreign chips
carrying coal from England here !.
steadily Increasing. However. all tho
British coal that viii be shipped
hero Will not amount to more than
drop In tho bucket compared with
our needs for the coming months
Hence II liz reasonable TO expec, that
Pres!dent Harding Will do something
about tho con strike probably he.
toro tho end OF this week II IS
pretty we'll understood here that the
railroad strike will be allowed TO drlft
along. Tho men los, their fight on
July Fourth when It was shown that
they could not tie up trafic.
Favor ORie's PInn.
Favorable comment was heard In
Wall Street today of The plan pro-
fhed by a 81. Ogle. president OF
tho National Coal Association. to
prosident Harding for a coal commits
sion. which would have the advice
and assistance OF coal operators and
miners. but would be made up Ok other
interests Ono OF our big bankers
hero in discussing the Ogle telc-
gram pointed out that lawyers and
witnesses argued and testified be-
fore Judge. but that when the Judge
got ready 10 mako decision ne did
not call in the lawyers and prIn-
, cipals 20 help him make up MS mind
Pennsylvania RAILROAD shoWs 10.
the fourth consecutive month a de-
crease In the number OF hharcholt-
'rs outstanding. the hgurcs at the
end OF Juno being las,s2s. This il
a decrease OF AS for the mcnth and
new high. record Was established
= At iil.S?l.
Much interest Is being shown in
p lhc railway earnings FOR June expected
mis- w"ek There IA special interest
In Pennsylvania with this company
one o.! those expected TO resume its
old dividend ratio In tho near future.
In discussing Pennsylvania TO-DAY
large Broadway stock exchange firm
lu !ts circular says at would hc In
ter.st!ng 10 KNOW whether its 5000
shares Of paclhc Oh have been sold"
Pennsylvania bought this stock as :
shareholder OF Southern Pacinc, eAsr-
r}s:ng is right 70 acquire lll OF the
1000 shares Owned on December 81.
last according 10 the last annual
report Around present prices Penn
sylvanir has profit OF $il 4 snare
u would not be surprising II tho
u"Nt annUal report hhowcd some or
al ~ TINS stock sold. There was
great market for Pacific Oil on this
years advance from ii3-i 10 69s.
made on May y looked at the time
'ih. Pennsylvania might have hired
kunE Loeb d Co. to make market
In Pacific Oh! on which 10 unload as
las been done on other occasions
when Tho decision was reached TO get
ria Of Treasury stock. When Pacific
oi! vas selling close to 20, one or
the prominent officials OF Southern
tactic is known 10 have sold his.
which was purchased in the POS.
CiSnr Stores Declare Dividend.
United Cigar stores declared a divi-
dend today Of . per cent. This is the
FIRST payment since las; November
when per ccHL was paid. The COM
pany did not have any regular divi-
dcrd policy last Year. hut made pay
mtnts Of or per cent a month
with the total for the year aggre-
eating 1912 per cent
Earnings of the United states Steel
Corporation for the June quarter and
the half year VIII be given out to-
morrow after the close OF the stock
exchange.
one shipment OF $4,000, COO gold
from London has just arrived and
with ii cable advices to the effcct
That n statement had just been made
IN Parliament explaining TINT the
gold being sent to us was 10 meet
England's dollar requirements here.
particularly the approaching interest
payment owed by Great Britain IN
our government in connection with
the war debts The best information
obtainable in banking circles here ia
That considerable more gold should
he expected from England before mi,
movement ends.
One OF the largest stock exchonp.
houses here. with branches at Bos.
ton. Springfield, Portland and else.
where. is OF the belief that one az
h The most important developments OF
last week was tho cUt in the crude
al! prices, and in the prices OF the
American Wooden Co. I'VE believe
these acts indicate" this house saws
that the advance in commodity
prices has probably come to a halt
We consider this fortunate. as any
further rice would tend to restrict
consumption, and with our large
capacity for the production OF manu-
iectured goods and raw materials, the
largest possible consumption Is the
Hrst requisite 1t is added that any
further movement Of rising prices
would only result In demoraizlng
cogts.
Stockholders Decrease.
General Motors shows the same
changes In the number of share
hoiaers OF common stock "a has re.
Cent? been reported by the United
states Steel Corpora ,lon and the
pennsylvania Railroad. that h. the
NUMBER has declined. Indicating that
Mith zee turn for the better In the