Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-17
RAILS AND |NDUsTR|ALs
TAKE PART IN THE RISE
Some Stocks Slip Back To.
wards Close of the
Market.
TIRE PRICES TO TEND UPWARD
automobile shares. IL IL HUNDRED.
WIZ "itncss Another Advance
rms Fnlf-Buniness Is Far Above
Normal for This Season.
ny Il. l.. Iiarnunn

NEW YORK, Aug. l6.-The more
favorable overnight nsws In connec-
ZION with both the railroad and coal
strihe SITUATION caused strong
opening on the stock Exchange to-
daJ. In tho case OF tho coal strike
the belief hero is that with seven
states resu'nins operations and more
Ito follow shortly. nationwide
agreement IL only short way of.
In tho case OF the railroad strike
the request OF the strike leaders for
conference with railroad eXecu-
lives Is looked upon az a confession
az weakness. The strikers lost much
sympathy during the past week or
more az result Of the action Of
IN" Big Four" regarding some 81,
the tactics adopted TO force the hand
ot the railroad presidents. The
e'allinG OF trains and Instances OF
violence arc MOI helping their Gauss
IN some quarters the belief prevails
that they SEQ the handwriting on
mo wall" II Is understood. how
ever, that at the conference ,omor-
r"w the executives Will no, back
down single peg from tho stand
already taken.
Rails show Gains.
Tho Improvement in sentiment
caused strong opening. and trad
ing was OH much moro active eCa lc.
kails and industriais both took part
IN tho rive and gains OF one TO Two
points were witnessed by noon. In
the carly afternoon trading began
lHss acIve but prices held arm TO
Wards the close. however. some
stocks began To slip backward az IN
me case OF General Asphalt Mont
fomery, Ward. Mexican Seaboard
and few other specialtles THIS
had no eTcrr on the rails, but d!L
'ars" som. unsettlement among Ger.
tain !ndustria!s.
The protest or money borrowers
against the strong methods
adopted by some bankers 10 hold up
rates appears TO have brought Som.
result. Money on several occasions
renewed Al i3.4 per cen, last week
To-day " renewed at 3l-2 per cent.
the loves; since July Is Som-
money loaned as low as : per cont.
On" prominent broker on the noor
said that a, tn. close yesterday there
remained slo.000.0o0 unloaned and
that the supply war again plentiful
today. Some ,iire money for the
balance ~ TINS month loaned a,
81? per cent
Tire Prices TO Tend Upward.
In spite OF the low price for the
crgf" rubber. ", l.. Ruthcrford. head
90 The GoQdr!ch Tire Company. on
sailing for Europe today said rha,
tire prices Will tend upward Cur
ron, prices, he added, are the loves,
since 1903. but the companies are
making the best ,ires In their his
tory, consequently prices should i'm
PROV" Business, he SAYS T. improv-
INK despite the fact that the last
hal' o! the year is 'he dulleat in
this Industry. HIS company /. spend
ing 100000 FOR Advertising This IL
expected TO increase sales.
ROY y hapin, head OF the iud-
son Motor Car company, which was
recently merged with Essex motors.
,uiso sailed for Europe today He
Says that the demand for motor cars
from Europe is gradually improv-
Ing Many foreign countries ar" in
cicas!nS their use for American
made cars, especially In the Scan
dlnav!an countries, where no motor
cars are produced. IitJle business
expected from Germany. The Hud
,on Motors Is now earning sunl-
cent To show So share earned on
tn" stock FOR 1872? compared with
:: paid tn dividends. In some quar-
lrrs an Increase in the dividend rate
is expected
Nv 'p'Hiph ~ ltiu IN some qua r
l'TS that tho ""' Ur-.0' r., I will
witness 1nVt..s! C3waru muv,lnen'
this fall despite the fact that the
last half OF the year witnesses .
falling on in demand Th.s. stocky
were arm today. In trade circles *
: Is said that business is far above
normal !or this season In the case
~ hudson Motors August - On
p"cied to be the best In its historl.
The strong poin, in the case OF Hui-
son, Chandler and Studebakcr IS
Y thetT income yield at present prices
Tn" Proctor Gamble Co showed
good proht during the past fiscal
wear az compared with the preyious
despite the smaller gross income.
Iota! sales totalcd Sl05 6653SG
against .l2o.0l9.727, while net opero.
ing proht totaled $7.3403P7 against
|, s3729559. The profit and loss sur
plus on the last day o. the yaar
was s2l.si5,4S5 against S2O.l35.s56.