Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-07
DROP AVERAGING POINT
IS PURELY TECHNICAL
Railroads Put In Orders for
Locomotives Aggrc-
eating 238.
CLASS LINES GOING WE'LL
Earnings for Yrnr Estimated mt
SHO.O0O.GW hHninst SB15.tatO. 900
TotnI for I02i-Stcri Output Again
on tpturn.
CLASS LINES GOING WELL

Written for tn" United "cwSp
NEW YORK. sept. Ga decline
averaging point occurred IN the
stock market today merely on tech
nicai conditions. there being no news
"f AN Unfavorable character. Many
Traders who we're Ecarish yost.r-
day bought stocks on today's dc
cline
steel mills "t tn" country gained
I'm output during The past week AT
ter having hit the low point the
week before. according - ,oaay's
review ~ the Iron Ago. which says
mat after dropping h"low 80 p"-
cent OF production tho industry is
n"w aiming 10 get back 40 60 per
cent So far the Improvement has
cot been large, II is stated. but
promises 70 +" grchter steel com
panics are short Of box cars for
moving products. 50 far this month
uinn furnaces hav. been brought
lack. five la Pennsylvania. mclud.
ng three In The Pittsburgh district.
ihr"" at Youngstown. and one AZ
Cleveland.
Iron output for August is given
- l,Slsl1O tons. or an average per
gay OF "s,'se against 2,Ic5.3G5. or a
daily average Of 1882 for July
Honds Order c3s Locomotives.
orders just hooked for new loco
motives tota! 23s. including 100 from
PENNSYLVANIA and hfty each from
Chicago Southwestern and Missouri
Ihcihc. Inquiries for new freight
rars total 5000. ana Tor repairs To
cars between 1890 and 1900
Automobile Trndr Guod
Fisher Bodys earnings for ,hc
'hT"H months ended July 81 show
what NE automobile companies in
general a.. doing This corpora
lion. not including the returns from
ne ohio company earned FOR the
thrco months. after paying interest
and govcrun"ut taxes. si733.OOO
aSainst Sl.2l2,000 cor the same period
OF las, year and sa.g2i. 900 for the
same months OF 1920 This amounts
io' the period covered 20 I355 n
snare FOR tn" common stock after
allowing m" preferred dividend
against $3.50 FOR The sam. months
~ 1921
Wall stree, loves mystery ana
conscGu"ntlv traders az" WONDERING
why Cruciblc rights to subscribc
20 10000 shares OF new stock at par
at IN" rate %: one new share FOR
"aoE hft",n now owned should hc
worth 81 when the omen market,
urice OF the outstanding shares was
heIow par. One banker offered the
explanation tina, insiders had agreed
y" tax" all 81 tn. new stock no,
holders and then put M tho price
In tina, event the rights" would
Nc cal! on the stock. which could
tie sold at a profit when the price
crossed par. Crucible which is
closely held. sold last wear as Nigh
as lc' / and In 1920 before tho
90 per cent stock dividend az high
"s 2's Is In 1919 the range was
netween Afty-two and 21l
tnrburctOr Going Strongly
HtroTbcrg Carhuretor IL another
sock that ~ attracting attention BY
- strength Those familiar with
MS companys affairs are telling
'h"ir friends that the stock owned
by Allan y Ryan has Eccn tak.,,
over by insiders. that orders held
on the books are sufficient 10 kc.,.
N" plant running at fun capacity
Tor the rest Of this year ina, rsrn-
inHs are running AT tn" rat. of 50
>" year FOR the stock. that dividends
VIII he resumed at the rate OF 81
wear
Railroad officials here estima,.
that for the last 1--WE months OF Inn
year the class railroads win earn
net operating income OF $3.50. 600 00o
which. with the si20.00O.00G earned
ior the first seven '..uius. viii mas
$500 900 oG0 for the wear again.,
StI5'coO.000 for 1921. or the b,st ycnr
sine" 1917, This will be equal Tn
A. per cent on the SIS Ono mn ,o,nI
: property
take into account "o;hrr mrom. !.
considerable item in figuring divi.
dcnd pTosprcts