Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-14
MARKET RECEIVERS UNDER
hUT0 SHARES LEADERSHIP
Chandler Leads at 40 Sd,
Drops to 4o IL and AID.
vanccs to So IL.
'orrEn STOCKS GO STRONG
american SuEnr IIns Good Trade In
Fhrc OF Lower Prices and Appoin,-
nent of Receiver for Sugar PrOd-
ucss Company.

NEW YORK. Jan. l3.----On the de
area news from abroad confirming
Hhc resignation Of BRAND and his
eab!nct the Stock Market opened a
rhc'!on lower this morning and con-
ihucd TO sell off until shortly after
ne end OF tho FIRST hour when re-.
B'oHcry started that continued, much
lfo'ihe surprise OF many. throughout
lfhe day. Despite tho news that Ford
|iars were to be cut January 10. and
|that December shipments OF all auto
|nobilcs were - per cent under No.
|vcmbcr. automobile shares led tho
recovery under tho leadership OF
chandler. which opened at to3.4
iroppcd 10 iol2 and then advanced
without stopping to 53l-2 The rails
were also strong with Union Pacific.
Northern Pacific. Southern paciHc
tending. the general feeling being
max inc conferences starting at
Washington Monday between govern
l'ncnt officials and representatives a.,
ETa'!"hy managers and cmploye,
would enable rates 10 be reduced
nus avoiding strike and hclpInl;
flong reimbursement,
American sugar Strong,
American sugar was strong In tho
acc OF lower prices for sugar and
I'he appointment OF n receiver for the
sugar Products Company. with LA
|'llliies of f5.o0o.n0O. All OF the stock
|1f this company was purchased in
1919 10y the L. &. Food Products co.
COPPER shares w"rc strong today
|on the announcement that oHlcIals Of
alumot * 1fccla have decided TO re-
|'Bnc operations on April !, and that
steps had already been taken toward
nat end. This company has had IL,
minns closed since April Of 1921
inc average price of eight princi-
pal iron and steel products is now
|Sho". now low Lowell since tho war
against ';t.lj week ago. $500 tho
nigh FOR 1920. SIG during tho war.
1850 In Aupns, OF 1913 and s37,i
inc nTcrag" for tho thirteen years
between 1901 and 1913.
Publish Trade Figures
To1ay's most interesting news dc :
|vc!opm"ht was tn" publication OF tho
l'ecembcr foreign trade figures shn,v
ing exports AT SeO5. 600 900 ag,,ns,
$685. 900 GOO for Novcmher O., this
year and '72o.ooo.Oco for December o,
1920. with Imports at s23G.0Oo orn
against s2il 900 600 for November and
S22@0o0. coo for December Of 1920
Gold Imports for tho month wer.
('3l.O0o.ooo. against ttt.ooo.00 for tho
same period OF last year. For tho
|iniI year our exports were sI,tsl
$4,000. against 's.:2s.olG.o 600. and
sports !2,5"S.i5c. 900. against {5.27S
$4,000, with gold imports sGoI oOO
coo. against $4,000 00o FOR 1920 And
exports sa3,ooo,ooo. aEains, {3oe .cOo.
ooo. Thus our foreign trade FOR 1920
drorpcd TO Sc. 1913 .oOo. 600. against .l2..
aof 100000 for 1920. tina, Is It was Gu,
IN half.
with the Federal reserve svs,cu,
'how'nE Il Gain az &c In it's reserve
ratio ana WITH the bank here showing
y rnia % &c moro was heard ,oda y
~ coming general reduction in re.
discount rates
Freight car loadings for the week
ending january 81 amounting TO sal.
o5i. SHOW d.crcasn Of 7l.33t. com
r1reh with tn" previous week, ac-
S'd'nG !" today's statement. Dcccn-
"'r u always a month OF dwIndlinc
freight car loadinrs. and las, month
faipm"nts We're held up by the "a
eminent tax that was coming off
rms holding back undoubtedly win
/ clip ~" January car loadlncs. How
ever, ir"m this time OF ycar unit
well along in the spring the move
inent or freight car loadings. eve,
under normal conditions. is down
ward.