Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-15
|TCHfs0N MAKES NEW
HIGH RECORD FOR YEAR
Expect Road to Raise Divi.
dcnd Shortly to Z Per
Cent.
n j. MONEY ADV 4 wees
rhc'icniiy Everybody In Wall street
fichkrd by News ON ShOpmen's
Whik"ut-Svift e. Co. Bond Issue
Owe subScrIbcI
LII MONEY ADVANCES
ny II. J.. IInrnIIni.

Iy IL. J.. unrnum.
written for tho United Ncwsl
NEW YORK. Sept lf.-Tradiny in
ne stock market was decidedly ir-
4csular during the frEt hour, and IL
looked like the settlement of the
hopmen's STRIKE by hfty-,wo rail-
DADS. announced unexpectedly after
ne c'9se OF business yesterday. had
'een discounted. Around the close
df tho hrst hour. however, under tho
eadership or Atchison. priccs
tarted 10 advance. Atchison made
new high record for the year. with
Eew YORK Central. Pennsylvania.
tock Island Canadian Pacific
Southern Pacific. Missouri Pacific
preferred all very strong. Atchison
aging per cont dividends. orcr.
IN income return or So per rcn,
For years this company has Gained
rs u'Flhcnd twice over. and IL would
iot be surprising. rs. soon as condI
Iioni Become more settled To sea
no annual ratio raised to per cent.
no same paid H. Louisville. Atlantic
I cast Line. Norfolk and Western. IL
f'"V'' ,ch,'ai ana some other roads.
fnil Money Advances.
TN tho government calling for
withdrawal OF tt5.5QO.0O0 doposit.
from the banks here tomorrow. 1t
was not surprising that call money
ADVANCED today To per cent.
| everybody IN Wall Street but tho
/ bitter "nfcrs' seemed to be pleased
~ the overnight ncws on the rail-
nAh shipments strike. Seniority
Fights arc restored wIthou, disturb
|!nG tn" standing OF tho new meg
I'ahcn on Hincc July /. and tho lower
wages fixed ny tho Railroad Labor
1Board as az July l arc accented nv
|,h" men. Thus the men losc on tho
point originally raised OF refusing To
Fccept tho cut. They also los, o,,
|ihe stand recently taken refusing TO
settle the seniority question with
ihaifidual roads. Lkow!se the
|htty-two roads gave in on tho scnior
sure Debt, Can lie Paid.
Replying 10 tho suggestion recent
~ mhne by Lord BaItour tha, III.
war debts owed TO us b. our allies
6houid he Cancelled as contribution
10 inc common cause. some very good
points are made by BERNARD NJ
baruch, who was chairman Of Tn.
war Industries board. afterwards
taking part In tho peace conference.
ut Paris. Baruch. vino was Wen
known and liked here in Wali street
before no Wen, 10 Washington in
1917. says he Is suro all Of the great
countries can pay :t given time. lie
says they should pay, because Ems
land. FOR example. used part OF IN.
money We loaned her TO buy food
Tor her civilian population. this food
beinS sold by England TO hcr people.
not given away. lie also points out
ihat Homn OF tho money raised ny
Enslnnd through loans hora was
used to build ships which arc s,iIl
IN Brl'!Hh mercantile marine. Again
baruch points out that some ot the
money borrowed hero was used TO
iplstcr M foreign exchange or for
Stncr commercial purposes.
BANKERS offering tho $4,000, 900
ten year per cent bond issue OF
swift N Co. n 81 to yield less than
l-2 per cent announce that the Of
terinG wac oversubscribod from three
20 four times. This Is convincing cv-
idence that there is a very large
fund OF Idle capital In the country
awaiting Investment
Claims Ford IL Fnkinc.
-. A president OF one OF tho Detroit
motor companies is quoted here to-
day as saying: Il havn positive In
formation that Ford will close Sat
uTddy-and open Monday morning. -
ran orders placed so far are cstL.
mated at 100000 tons. many railroads
trying TO get ahead OF the increase
IN price, which was generally OK
pected. The increase OF from $40
a ton to sia In tho price OF rnus for
doliHery from October TO June 20
1923. just announced hy the steel
corporation liz due. steel men cav
70 several reasons. First. IL f.
pointed out. that basic pig Iron is
selling at $50 ton and steel bill
tets at $40 and that with basic MIC
IRON made into steel billcts and the
stcei oiilets made into rails the SI3
price for rails IL rrasonahle. es
peclaiiy in view OF the 20 per cen,
increase in wages just granted by
me steel mills and the s33 a ton
duty "a he placed on Ferro- Manr,n-
csc largely imported from England
when Is now costing sG7.5O ton.
tariff sl0n.5O. vac
: Unless there Is genuine trade ro-
rival in Europe trade II win hc -,
possible for Europe to pay her in
aeotedhess to us and recovery in
european trade cannot take n,aco
untii the aue5tion OF reparations and
1hte:alIied debts has been scttioI
tNe Federal Reserve Board saws in
Hfreht bulletin made public In
Gay Coming from such source
that is a pretty strong and n pretty
ciear statement. IT la pointed ONT
that during the first half of tbis
year we increased our foreign trade
balance by s55o.ooo.ooo. whereas for
the same period England. Italy. Cor.
many and France have become moro
heavily in debt by unfavorable for
eiSh trade balances. AS the rest of
the world sees us wo already have
al the gold In tho world" because
OF our record breaking gold holdings
piieu up through the favorable for