Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-22
PRICE TREND UPWARD
FOR 9Th SUCCESSIVE DAY
New High Records for Nor
folk and Western and Chcs-
apcakc and Ohio.
OUTLOOK IN STREET BILLISII
Financial DistrIct Sees Little Hope
Tor Anustrfke IrEisln tIon-kmhn,
Loeb e Co.. Expects Two Gold Ship
ments From England.
OUTLOOK IN STREET DuLlIsII
Ily Il. l.. IInrn,ini.

Dy Il. J.. finrnum.
NEW YORK. Aug. 2i.-Iour cor
respondent made Il round of the III
nancial district today and found prac-
tically everybody extremely huilieh
ON the outlook for the stock market.
For the sixth successive day. it was
pointed out the pric" trend has been
upward with the rails in good dc
ruand, new high records for tho up
ward movement being made for Great
North"rn. Northern Pacific. Union Pa
cite. Lchigh valley. Norfolk aud Wcs-
tern. Chesapeake and OHIO ANA
innh"r OF other shares.
Generally the feeling seems 20 %"
t'i.tt the strike viii b" "cttlcd within
Ia" next few days. wncrcupuu there
"ili be Il celebration by an upward
purt In prices followed hy Il r.n,-
Ion OF fcw days and then another
;.d'ance TO n.w hlgh records for Ia.
ear. II would not surprise som. II
''ed"rs played for brief reaction
tomorrow az Tuesday is usually AN
OF day in bun market However.
such reaction or tn" on" expected
:" follow the settling ~ tho strike on
uroht taking and short selling vii!
not. II is generally beiisvcd. 60 far.
Rails Held STEADY.
'ios" observers OF the STOCK mar
lot said today that during tho rcav-
August 10 the right people i'm Wall
street were accommodating st0ois in
expectation OF what is uow nap
joining. While the Ol!s ANA indus
triala were selling OF tho rails held
steady all through the worst Of Ia.
strike news because there had been
40 speculative buying rs the public
iu tho rails
II Is tho consensus tn TIA" best quar-
'r"s here that the speculative ma
'hinc Is being operated by the big
l"oplc who were also in charge dur
lur the recent decline
Kuhn. Loeb az Co are cNpcctiny
i"r shipments Of goId from Engl@Ud.
ono 81 SCT0.O0o to arrive wcdn"sdas
ON the Majestic. ON. Of .Hsj.Oag on the
Baltic. witch sailed saturday. Win
this gold here. this rriya,., banking
i'rnIs gold impOrt.itiuns for the wear
VIII foot up .ocV.
Maintain tagged Train Schedules.
New York Central reports today
hat II has so per cent o. IT. normal
hop force AT work. against - per
cent last week. This win help trains
and mail TO make better time. while
there hB6 been little or no news in
The papers about delayed train SER
vice. tho facts arc that practically
all ~ the railroads in this part Of III.
country arc maintaining very ragged
Nrhin sCIeuuleS. frequently trains
running 800 or 400 miles or much less
have been from one u three hours
late. While the number OF mon en-
ployed by New York Central may be
so per cent OF normal. the workman
ship turned out by the new men cs-
rccihlly on air brakes. il far below
80 per cent OF normal. The new men
do not acm 10 know how TO repair the
brakes which the trainmcn ar" not
In
good shape. For TWO weeks past
your correspondent has been keeping
check on New York Central trains
and found few TO or from the Adirot-
dack country on time
'au money opened and ruled today
ai 3i-i per cent. For th!rty-day
loans tho rate was per cent and
for sixty to ninety days 4l-i win
the six months rate 4l-2
Wall street learned today tina,
Congressman Winslow. chairman OF
tho House Committee on Interstate
Commerce, had Il bill complying with
President HardinE'a recommendation
for committee TO make a thorough
investigation OF the coal situation
There Is nothing Congress likes bet
ter than TO hold Investigations. Ru,
II is safe bet there VIII he no anti
strike legislation passed
Hullish an Rail stocks
w" are bullish on the railroad
stocks" ono largo Broadway house
sends out 10 its customers today
not because OF the expected end Of
the strike, which. il is feared. MAY
DC n some SacriNce OF principle, bu,
because of calculations OF what many
OF the companies should earn this
year even after liberal allowance
for additional costs imposed hy the
nj no
splendid market for rails starting nj
the end OF last week looks Xix. tho
beginning Of the real thing, although
IL rs likely that actual arrangement
OF the strike may be the occasion of
proht-;aking by the smaller inter-
csts"
While holding firm, Southern Pa
enc has not Joined In tho recent adj
vance of the rails. that compauv
having troubles in Mexico. as we'll ms
those bothering all OF the railroads
IN this country. However word
comes from Washington today that
WITHIN the next few weeks Secretary
hughes Is going to Inform President
Harding that the time is rIpc for
recognition OF the existing Mexir,n
government. That. with tho propress
neihg made in refunding Mcxico's
external debt, should start business
up In Mexico. situation which. NJ
course. would be reflected in Tho
earnings Of Southern Pacific.
Southern Pacific has some l 500
miles OF road In Mexico and go ooo
acres or land, Of which $4,000 are
proven oil fields. The damage ia
property IN Mexico since the Madero
roVoiu'ion started in 1910 runs into
many millions. which. In time. VIII
DO collected ''-