Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-13
FIGURES IN 141 CITIES
AGGREGATE s218,674,00O
Wall Street Hopeful Over
New Developments in
Foreign Finance.
STEEL COMMON GoE. HIGHER
despite strikes Mig Corporstion's
Hhhres Show Marked Advance.
hnil shares Continue Strong.
equipment Shortage Predicted.
STEEL COMMON GOES HIGHER
Uy II. l., Ilurnun,.

Written for the United News
NEW YORK. July i2.-Dospitc Ger
mays formal request for mora.
'orium 10 apply oven 10 tho July 10
operations payments foreign er
chnnse VAS stronger today francs
opening 10 points higher This I'm
proVement was partly due to cables
mat Ambassador Geddcs after talk
ing with members Of the Cahlne1 and
treasury officials a, London. would
star, shortly for Washington with
British treasury officials. who viii
give Presiden, iiard'ngs war deb,
refunding commission England's
views
There ~ no doubt now in banking
ciro!es here that things are going 10
happen soon In tho intcrallIed wnr
nebts situation. Improvement, In the
foreign situation, together with call
money offered freely at 3i-2 per cent
helped our srock market, Studn-
baker made a new high for mis-
movement and tho steel and raj
shares were strong. There WAC a
"reak In some oil! stocks. however.
LARGELY due to rumors of a forth
coming unfavorable report by the
fenerai trade commission on stand
'hrd oil companies.
Steel Common Advances.
Stcei common. which recently sold
10 lgI early tDdny
ignoring The weekly review bv tho
iron Ago. which said TIM, m. con,
situatIon was growing more serlou.
90 mo steel Industry. partly becaus.
iaat week smaller coal uro-
"uct!on and largely because OF car
shortage and freight congestion
growing out Of The railway shop-
s"cnb STRIKE It wsS stated tina,
conditions in the nonun!on coaI IN
q ht
t,n' Louisville and Che,apeake and
.'hio' were SO acute that some MIG
IRON producers were raciuy hI,s,
1'rnacn khutdowns coal ship,ncn,.
na Chesapeake and Ohio being Gu,
uown to so per cent
operations OF tho steel cornora-
ION "cr" given at slightly less than
% per ceh' OF capacity against II
eek or so ago. Hopes wer. o.,
pressed that coal mining wonIs y.
resumed In the near future. I'm,
.ur'htr congestion OF fre,yh, w,s
a"asen WIN tho crop-mov!ny season
al hana Three large railroads nav,
contracted for repairs for 5000 cars
uers nave been placed for slxtv-
locomotives with ac,iva In
Hu'r!"s reported in the ma,k. g.,
lIs locomotives. '''
@ Payment. To Help Situation
mn" wondering what we are ro-
ihR 10 10 with the gold now comf,-
IN from London our best b,n,<o,s
Nor" see clearly the advan,apcs 80
EnE!and and 10 the whole sItna,,on
an Ehslands payment o: tho Interest
"er war debts TO our govern
80 hariy this week s25o6.ooo
So!d was received here from To,do,
'esteTday another s2.5oo.ooo arriysa
ann TO-DAY the Olympic hrou.b, -,
$4,000. for J. p Morgan G. r. 49,,
s-''oo'oOo for Kuhn-Loeb G. % =,
Also understood THAI the ad,,.,,o
"hich sailed from Liverpool saturday
o''hEins six;y-eigh; bo1e, vaI,ic
unknown. '"'u'
haIdwin Locomotive made nom
nigh for this movement on ,o,a,...
"hccment that Standard s,.ei
WORKS had declared a stock dividarn
VI !oo per cent. All Of m. 7oon
"oo outstanding stock Of Tho s,ooi
company Is owned by RaldwI, Tha
oofhpan"s surplus which was s5ea
wv AT the close OF last year wi,
"e renuced 10 s2.6+iOoo at the same
nnn INC STOCK Is Increased to Sc. 900
wv. RANT and eGuIpmen, arc voI,,ad
mt f?.i5s.00O and besides mo q, onn 80
STOCK there are s2.2oo,oO0 bonds on,
standing. OUT
-" h"iidInE Records Broken.
~! monthly high records FOR bui,d
"t throughout the United States
broken during June. the nrures
puh'lshed today for III cities heinc
.'ooo against s2O6.s0O. 900 for
"y or this year the previous high
record and sl27.G7l 5000 for June .,
Iasl year. The gain over Nav wo,
80 per cent and over June of las,
'iS per cent. The Yves. shows
me smallest gain, % per cent,
southwestern States gained 74s nor
IN over last June: Southern. f7s
r.r cent; Far West. 7s per cent.
New england 9l.9 per cent; North.
west. 1913 per cent.
Car and Locomotive shortare NM
naii"ay officials here predicted 10
-. ma. " the coal strike Is set
..eu within the next sixty days i'm
fheoiately afterwards there vim
car and locomotive shortage
'hrotshout the country resulting In
severe congestion OF freight. Thar
we're great many bad order freiohI
."rS' is being pointed out he
iore inc railway strike with n rush
oi coai az soon as the coal STRIFE
ehos. railway mon are now ssyI,e
there Ia going to be troubl. and ~.
are preparing for It by buying nav.
equipment. This talk on the mar, y,
railway officials Is making snan,,,o
Two wall Street oven mors ..huIItsh,,
thah 1t was on the railway cot,
ment shares eduip
More than ono Wall S,