Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-09
:S0ME SHARES SET NEW
!. HIGH RECORDS FOR YEAR
-Cruciblc, Nanadium and Re-
. public Are Among Lead
ers in Trading.
Wall street Learns Proposed Merger
!. of Seven Companies Has Progressed
$ {" mn Agreement FIXING rrire,.
Bond Market Slow.

Ity Il. l.. Barnum.
NEW YORK. May -Toiay's stock
market was reactlonary. However
whenever Il hogan to look Ike prices
wcre going TO have a considerable
break selling ceased. TO begin again
rat the first signs OF returning
strength. Some Of tn. most expert
,cnced traders IN Wall stree; elected
today 10 stand aside TO sec what the
.Inarkot was going 10 do before again
taking a position. There is not much
"douh; in the minds of seasoned trad
crS that distribution IS going on
whenever The market will talks stocks
AS for bonds, that market was
again inclined 10 slow down. Trices
however. held steady Figures we're
available today showing when the
Trading in bonds began 10 go- very
active. when tho peak was hit and
when tho volume of trading began 20
fall of Here { III" trading by
weeks: week ending May 6. sSo37G-
COO. week ending Nprn %, $lCg,o42-
600: April 90. Sl2o.Sl1.oOo: April IL.
sloa64aoo0: Anru 5. SlOo,2S2, 600;
April !. sa95n.ooo.
y. some New High Records.
This weeks market for new securj-
ties started ou, with an Offering OF
s15, 00c 90" twentyyear farm loans.
IL per cent bonds NJ par The las,
exempt from all taxes Was last Feb
rIary whom 6oOH0Oon IS we're foa;
ed in July or 1921 an issue o! 500.
600 200 LIS was brought out These
bonds are not an obligation Of the
government but the government does
own some OF tho stock OF tho twelve
Federal land banks which issue farm
land bonds secured by government
bonds or hy first mortgage on farm
AL
value or 20 per cent OF Improvement |
Despite todays reactory tendency
of the stock market, new high records /
for the YEAR were made for CruCih."
Nanadium. Republic. Pittsburgh and |
West Virginia. All Of tho !ndspen-
dent steel shares were strong. Wall !
street hearing that the proposed /
mergers Of seven independents had
progressed so far tina, an agreement I
had been reached as 10 the tentative .
price a. which the stocks wUuld be .
taken over and exchanged for stoek .
n; the new company. which j. I" have
no par value. No on" In authority /
would confirm these reports. and In .
some quarters - IS st!ll doubted /
whether the proposed merger viii F.
ever % completed Here however. /
a-s The Asures which we're HANDED !
about In wall Stree, ~ The value: /
agreed upon for tho existing shares /
Republic. SIS; Inland 80 - So Lack I
awa.rA ss5; E!dvale. $40. R-i"- fll, (
40: Youngstown. SIS = was wide
.ty rumo-ed tina: n" stock - 'hc new
COMPANY would - brourh; ont some
where between SIS and SIS, or about
where The stock ot tho United states
Steel Corporation WAS Arst quoted on
the curb.
Unified Orders show Increase.
Wednesdays urnllct order state
men, of thu United states Steel Cor
roratlon a. OF May :. s expected b.
Wall street % show an Increase Of
anywher" from 100000 . 600 ooo tons.
From July, 1920. when tho figures
were il.lls.h0G. until last April. there
was a steady decline. April showed
<49i,0oO tons, an increase ~ 353 o0e
4 shipment OF 'i,?s7o0o gold from
sweden Is on ~" oscar u. which
will land her" TUESDAY. Thr gold IS
for the National Rank ot Commerce.
which has recently received several
shipments from sweden.
Northern Pacific has obtained from
the Interstate Commerce Comm sslon
suthority 10 soil now per cont
Nonds ~ not loss than 20 20 pay on
the : - per ~; hn.I;s ISSUED a
year ags. whcr.-inrtcv was ,.aht 20
redeem tho maturing Burlington
bonds There viii be <ll3.ooo->Dv OF
tho now IS 20 pay on tho LIS.
which are rcdo.mab,c a; lo3 -.
Underwater OILS earnings statement
for tho FIRST quarter Of 1872 rejects
changed conditions Btu the OIL trade.
For the year ended December ~. 1870
mis- company earned 20 per cent for
SIS stock. For 1921 there was a de-
.ci, after dividends OF $G,laS."eo
against 0nal surplus. after divi-
bends Of 53.-%S. 600 for 1920. For ~"