Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-28
MARKED BY LOW PRICES,
RALLIES LATER IN DAY
Advance Will NJ Be Re.
sumcd Unless Miners Aban-
don Walkou,, Belief.
RESERVE CUTS DISCOUNT nArr:
b"rnhf Lenses or Acquires Control
or WHY'S Corporation PInn, Mt
i.h>nbefh, y. J., 60 Manufacture
Ncw Car to Compete With Ford.
Nv ~. T.. iinrntIn,.

~, 81. T.. nnrnum.
NEW YORK. March 27.-Iu the |
iaie trading the stock market rail- !
lird some, but. on the whole il was |
day of lover prices. Opinion here |,
is divided az to whether there VIII /.
DC much more %: "a decline this week. 7
1T is agreed, however. that ~. nd
vance Will not be rcSUrnoh. ur- 90
IL known that there viii be- .sl
strike. II the strike occurs un .t.ri. /
J. ab !s now expected the feeling F.
seems to he that the stock market
VIII so lower with the upward
novcmen, resumed aiter tho coal
strike situation IL out OF IN. way
In wcl!.lnfornicd banking circIcs
{, was reported early today that rep
icS-ntativcs % iv" of the largest
anthracite producing companies.
turning out something liz. - per
cont NJ tho courtry's annual pro-
auction were going 10 Washington
'"riEh; 10 ask President Harding to
appoint commission. 10 haudlc ia"
wage controversy. 4 commission like
tho on" ErcSidcn; Roosevelt created
twenty years ago These large Opcr-
ntor are nf the belief tnat a com
mission viii have 10 be created soon
or or later. and that II would be well
20 appoint IL before the strike takes
uiacc and small operators make the
Public mnd by Increasing the selling
price OF coal. Leaders Of the coal
mission formed. fearing that tho dc
"iSion win bc To cut wages and thus
make coal cheaper
Reduce Hrdl,rnunt Untc.
Much Interest was d!apltycd here
in today's dispatches from Atlanta.
f"por .!.s that the Federal Ucscr..
IanN Gorv had reduced its rcdis-
count rate from per cent To ~.
Last wre6 'hia bank reported it's
reserve Ht T2a against 81 at th!s
time laS' year. Minneapolis last
week WAS up to 80. From tn"
WashIurtpu information obtained
lag, wcck INC new. from Atlanta WAS
not sugur 20, nrh it would not hc
surprisluE e- other Federal Re
serve BANS H.lrd!ur the one here.
cat their rates The rate here is
now 81.
record Tor All time today "a, tn.
market. selling at 23is. Some 81 the
sclliuE, II is believed here, Is due 20
fright on the part - Germans. WIN
are sending money uUt OF the coun-
try.
Idle freight cars on the country's
side tracks on March Ii aggregated
3gl.Tt7 Il decrease. cornpRrcd with
tho previous week, of 1855 cars. ON
January IN. idle CARS surplus Was
G23sa2 ~ that time 1874 per cent
bI All lf'iSll cars hNlt'l were III
bad order, against li.I on March To-
-. Il q. Urp"rts Increase.
Baltimore aud ONO reported TO-DAY
FOR February gross ~ slJ,033,OOv.
against SliIt5.Oo0 FOR 1920, with not
operating income of S2,0IlUoo
against Ssl,GoJ Il year ago. Atchi-
son reports "A dccrvas" I'm February
isross Of s2.2I5.OOc but gain in
net operating Income OF sl6Ii,op9
American sugar officials announced
today that IN IA" event az pro-
lnugcd coal strike. beginning April
l. the company would have no trou-
bl. for ~ least tire. months. As
supply of fuel to last that time was
already on hand ana more would hc
accumulated from nonunion mines
The Steel Corporat!un owns 1t own
coal mines. practically all Of which
aye nonuniou Something Xix" 80 per
cent of the coal mines owned 10y Re
public Steel are nOuun!on. Jones *
loughlin depends on union mines
All OF the steel companies. however.
have accumulated fuel supplies.
Information picked up In ihc hnah
cisI district today leads TO the con-
clus!on that W. g. DUrant has either
leased or acquired control 81 the big
WHY'S Corporation plant al Eliza
beth. y. j.. covering ihirty-four
acres OF ground and having floor
space OF 100000 square feet. Tn"
WHY'S corporation IHiNN''' WIS INV
modern iFt... ...:. al ..... - hcn
purant after losing control "f Cen
cral Motors in December Of 1920
started Il now company, thus rails
ing large amount "a! new work.n-;
,upital hy sale OF stock, predictions
were made that lac would be able TO
mel. up cheap some good plant or
plants Wall Street has known for
some time that the banks tied up
with frozen" loans in the WHY'S
Curporation were anxious TO get rid
Of that property. Durant may use
the big Elizabeth plant to mann
facturc his now car to compete with
Ford.
W"oiworth Mny Declare Dividend.
I.unors are anoat here that Pull
man. having acquired control OF Has
kcn e. Barker. is now after Ameri-
can steel foundrics. which makes
popular wheel used in the manufac-
lure OF freight cars The advance Of
six points in American Steel foun-
dries from the low of the year of
3Os. has been based on these ruInors.
The stock. with IL par value OF ~ l-3,
pays 50 dividends.
Woolworth directors, scheduled to
meet April IL. may declare n stock
dividend varying, according to ru-
mors, from ID to 90 per cent. Since
the war began the number OF stores
operated has increased from 1871 TO
l.137. Last year Sl9.3 share was
earned for the stock, and this year $
earnings are running ahead of l92l.