Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-01
VENTS IN NEAR EAST
/ ARE DEPRESSING FACTOR
owcycr. Professionals Con-
struc Decline Reaction ON
Ovcrbought Market.
\'i''I GOOD Raj. SItUwIN:
pNcmrnt "f Freight Cnrs Closely
NPpr"nrhrs Record breaking.
'"ri"h Of October, 1870. Hut ENp"rt
Trade j. Poor.
,"Ecr "o"n nNrr. SHOWING
tBy Associated Prcss.1

lBy Associated Press
NEW YORK. Sept 3o.-Events IN
- Noar East had depressing cf-
ct on quoted securities values In
Is weeks markets. but professional
7fcrs generally construed the re-
81 ton as Il natural correction OF an
Il Thought condition. While spccu-
tors for tho decline took all posi-
~ advantage Of the unfavorablc
reign Developments and undoubtcd-
scared away II number OF pros
ctivc buyers. tho course %: the mar
I at times seemingly substan,iatcd
4" belief dat IL was governed by
chn'cai considerations.
Il y" Striking thunE-> nt Home.
= Their" "nH ~" striking change in
t. domestic situation 10 alter III.
p"c,ed moderate revival az busi-
-. ShoriaE" ~ freight ears ac-
8aly has caused som" concern on
Xc part Of manufacturers who arc
roht'n'h with temporary curtail-
F'nt "i shipping idcillccs aud in
saS'S ia wages ana prices hay.
8nu"'d som" uUaI'ty al 10 thc!.
Il Get "n "urujnrs bat ur. general
ua'iom continues encouraging.
Sic"l production D.. uutv reported
80 u,r cent Of capacity. bui no
~" 'Trrcasc Is expected because ui
4 in"hihty 10 obtain sunioi.nt ears.
l.cpuhiic Iron and steel plant
: roads iIas been forced 10 close down
Sht "f - sixteen mills. because of
H dihicuity. but no genera, shut
VII u contemplated. Coal pxoduc-
h 10
a tho automobile industry j. doino
q t''- ,hnn ever 3t this season OF the
.>rrci rn,"rnhI- unii showing
-. Ir""| '"ruinE' FOR September
T. 'Apcciod to maRc AN nxtr",u.'l.
dN"rabi' showing h"raUs" pf tI.
Hr'pal settlement of ia" shoptnru's
riE" and tn" heavy movement Of
eight cars which IS now a, nc
8Ehcst point OF the year aud closely.
ApronchcS The record breaking
ri"h uf october. 1920. So great has
en- TIA" demand for cars that a
i>ihcr of Eastern railroads have
en- ounp"ll"d 10 mt etrictc cmhar-
"s int" effect in order to prevent
LuEcsUuu on their lines ESpor,
sincss however. is admittedly
or. Dreams" OF tho large amour,
n merchandise shipped norc carly
Is month iu order 10 take adNant-
H. Of the lower tIriH rates tho
ptemhcr import figures are OK
,ct"dto MAX" q good showing al
ough % Substantial Hcgliu. 3 looked
10 'h" ucNt few months.
break In Sterling
Tho Sharp break in sterling cx-
= ianpo tHis week. bringing II nearly
cents below Ia" years ugh OF ;i5i
Established ia June was due largely
/ the unusually heavy offering Of
'TmcrciHl hills against exports OF
ain and cotton. Tn" fac, that other
lror"nn c"ntcrs have done their
with america through Lon :
5irr Increasing tho demand for dol
rH, Their" undoubtedly was a con-
I hutiuE factor To the weakness.
o,hcr European continental rates
acted less Sharply. The Canadian
Pillar IS now selling At slight prem
! III In this market indicating that
dm"ricau purchases OF Canadian
ain and manufactured products
or" ,hhu Offset the importatious OF
al ana imcricau merchandise
lucortul as 10 the terms OF the
jvcrnmcnts' new loan which un-
bubtcdi Wi, 10" competitor with
lcrty issues Hud o'hcr Investment
curity was rurtly responsible for
g rcaci,ounry trend ~ bond prices
ring tho week Call money rates
ere slightly nrImcr. but there was
, bale change in the quotations for
i n. money AMI commercial paper