Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-06-17
MANY SHARES TOUCH
LOW RECORD FOR WEEK
htcel Stocks Recover on Ru.
NOR Of Running to
capacity.
MERGER TAKES PLACE IN JULY
Nfcc-ircHident JnppH, Of Scnboardr
Air Line, Appears Before Commerce
commission and Protests Against
orrSer with IllinoI. Central.
by H. l.. Iiarnuni.

NEW YORK. June IA sharp
break occurred In the stock market
curing the FIRST hour. carrying Cru
cibl.. baldwin, American Sugar,
t"yal Dutch. Mercantile Marinc pre-
i"rrcd. bethlehem H. steel Common
and other shares to new low records
Tor the week. In the third hour there
was some recovery. especially In the
r."ci shares. ON runors That some OF
the plants Of IN" steel Corporation
We. no" running lao per cent ca
Dariiy Another decline started,
however, ana for the rest of the dag
tho market was Irregular
steel prices on the average ara
low 10 %. cent abov" The low OF last
February. The figure ~ sI5.;S
egainst $42aS In February. $500 in
80 End s37.il for tn. thirtcHn-yeHr
average ending with 1913. Tn. aver
HHe is no" - per cen, ahov" III" pre-
var level ana l:a per cent below tho
high for 1920.
Call None. Drops to 3.
~, n.rI,m f"bies tspori 'he wholcsale
hsainst 6.a5J for April. j.s33 for
N"r"h. 3.s55 for January and 1908
for. May OF 1927
ca! money opened today a; 3i-2
Icr cent ard then dropped to 3.
o'hirty-day ipans were made a; 3 "a
: WIN slNly ana ninety day money
quoted at to Is. with the supply
limited. The banks here are holding
ltch on time money and VIII con
tiuue 10 DO 20 untl interest rates
on deposits have been lowered
Ia steel quarters IL wag stated to-
oh% that the merger OF tn. Repub-
lic. M!dva!c and Inland into the new
north American Steel Company viii
take place IN July Immediately after
completed its Investigation. unless
something un!oresecn occurs. Until
that time nothing definite VIII be
done II was said. 20 MAKO POSSIBLE
. resumption ~ when. rs and IT, trad
Ing on the curb.
Your 'corrcspouI"It had a talk to-
day Win one Of tho bigE.st cattle
mon Ia IN. West Il. SAYS that ow
Ing - easier money AL of the cat
tie raiser. VINO were ash. to hold on
VIII hc able 4" get out whole.
Money Ia the W,st. usually the
tl2hi"hi or the year az this time IL
easy. H." says. and wiil be easier
around the mIndlc ui next ,nomti.
WHEN ~h"a, tcgin> to move 10 mar.
kct
Cattle Industry Looks bright.
IL was only a few months ago that
tho cattle industry was one o, the
sic!,cst The farm implement trade
T.. stii SICK. hu- IL picking up ac-
c0rl!nc 10 one OF ou- large bankers
Lor" In close touch with farming
scrtlOns OF rhc West and Southwest
- letter lgst received from one oi
tho big :hr.u Implement manufacture
crs reports that at "a characterization
just held before "a large number az
invited farmers. more tractors were
sold IN Tvs days ;han ~ the previ.
Gus ninety days. THIS banker re-
ports mat kaHsas This year Viii har-
Vest lvb,GoO.DpO bushels OF wheat and
get 10: IL II bueh-i at primary
3 points. II these predictions mater
ializ" Kansas. /, was stated would
he back TO normal. As a result ol
easier money. Improvement In farm
product prices. recovery IN the cat
tie Industry and the homes OF good
crops there Is much better feeling, II
was stated. throughout the West.
Frc,idcn; Markham. Of Illinois
Central. and Nisc- president Capps. Of
III" Sraboard Air Line. appearing be-
fore TIE Interstate Commerce Com
mission in the hearings on the plans
proposed under tho new transporiu-
ZION act To merger all of the rail-
roads OF the country into twenty Sys-
toms. characterize tn" proposed mcr-
ger OF these Two roads as 'ilioE caL'
j Is predicted here that these are
onl, the first OF the many protests
10 Ec raised AT these hearings.
The National city Bank. which is
celebrating today ats 10th birthday
started out ia lSl2 as p local bank
with 100000 capital Today il has
cap!tnl assets OF $S00.o00,0GO: il is
tic largest bank in this country and
las scVcn,y-two Offices in twenty
two foreign countries.