Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-25
BOND MARKET CONTINUES
UPWARD PACE IN GOTHAM.
New High Records Are Scored
in Several Popular
Issues.
AUTOMOBILE sTocks COO
Shnrp Breaks In United Retail
Storcs Features Trading When
Shhrcs Go to New Low Record for
the Scnr.
By Il. l.. iSnrnum.

NEW YORK. Feb. 2i.-Srhc sharp
break IN United Retail StSrcs was
feature in today's market. white
most other stocks were Inclined To
harden. The shares broke to a new
low record for tn. year. In some
quarters the break is looked upon as
tho usual attack Witnessed when the
head OF the company. WhcInn. l.
abroad. In others attention IL called
10 the annual report. which failed to
show the dividend earned for 1921
Also II is said business has shown
little Improvement since the begin
ming Of the year and talI is that the
biggest cigarette price war In the
history OF tho business IL pending
Th" uniavorahl" factors seen 10 DON'T
NAT" in this issue. Directors meet
for dividend action next week.
The bond market continues It's
upward pace. WITH new high records
being scored. Foreign issues have
been particularly prominent as "A rc-
suit OF the risc In foreign exchange.
Further r!sc IN prices is predicted rs
TIA" next movement iu money rates i
expected to be downward.
Market street Hallway jumped up-
ward "a a result OF tn" announcement
az declaration Gf nu initial dividend
~ IL per cent ON the prior prefer
enc" STOCK. This action hears ont
predictions made at the tim. or tho
rcrrrnnizatl"u.
The Railway steel Spring com
pany's annual report FOR 1921 shows
surplus after charges and taxes o:
sl.55i.t3J equal 20 81 81 share on
the common STOCK after preferred
dividends In 1890 the company earned
Sl..ii shar. on the common. Iii
rcctors however. today declared
regular dividends OF 81 Il shar. on
tho common The report Is looked
upon r. water, which has passed over
the dam.
rho company with other equip
mont and car accessory companies -
.Npccted To- rcN"o, tn. Improvement
!u railroad buying during rccen'
wccks ThuH far thi. year the rail
roads have placed orders for about
@r.nrO cars or At an annual rate o!
l2c.ogO cars for ~. year In all Of
1871. orders amounted 10 only about
-..nup cars. IN spit" ~ tho showing
luado thus far this year u Is OK
p.ctcd that orders ~ ~" tu'ur" wiii
Increase further as Ia" railroads be-
r'H Ia SHOW better earning AN"
traffic improves.
y
stocks were again TIA" feature 81 TO-
days market Especially Chandler
Motors ana S'ud-t nk"r on tho biz
board Whir Cleveland was again at
tracing at:oitlou on the outside mar
kc, Spou.gus FOR tn" movement ~
these stocks arc expecting big things
tUr 1922, Sut I'm conservative quar-
t"rs. tho prediction j. made that II
is not unlikely that a reaction will
Ice Witnessed following tn. rcc"ut
sharp rise. But tn. optimls, is bas-
ing his predictions on the favorable
showing made by motor car manu-
lecturers thus far this year. In
some cases sales are from 200 10 30"
Der cent III excess OF tho GORE spond-
.us pnrlod last year. In view OF This
the Motor Accessory stocks are ok
l,ccted - move in sympathy ~ they
N!l share shv prosperity Of the car
manufacturers. Mullins body was
the feature ~ the latter group Today.
Loft. Inc. for 1921 reports net In
come after charges and Federal
taxes OF {13Q,3i9, equal TO S!i2 n
share on the capital stock, aga.ns,
|7IS,923 or sl.l0 share In the
previous year.
y prominent Broadway commission
house has sent out II bu!lish l.ilsr
on the Petroleum stocks. This IN
formation has spread broadcast
around :he Street. and the advance
witnessed In the oil stocks ycs,cr-
Gay and today has been the result
- Is said that the Industry has XII
Iessed idcrablc Improvement in
the past TWO weeks. The long .c
pcctcd price Cut In SiiG-Continent
crude has thus far not matcfializei.
and the opinion row is that with
spring so near, the Increased demand
for OH and oil products will elm
iuate any possibility OF reduction
il liiCcs.