Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-28
FAILURES HAVE LITTLE
EFFECT ON WALL STREET
Consolidated Gas Jumps
Points to New High
Record for Year.
noCK ISLAND BUYING GOOD
Surplus for Dividends Equal TO
s"5a3 Per Share ON Common
Stock.
Iiy e.. T.. Iinrnti,n.

NEW YORK. Feb. 27.-Eight more
brokerage firms. mostly out-Of-town
houses. none having any connection
with the New York stock Exchange.
failed today. Az has been the case
ever since the movement TO clean up
bucket shops started, today'S devcl-
opments had no effect on the stock
market other than TO put up prices.
i becoming frightened At the raid on
bucket shops. many brokerage firms
In this class have been buying in
stocks for their customers. stocks
which these firms should have been
carrying all the time. These arc days
when II bchooNcs traders in tho stock
market To make cure that the broker
age firms with which they deal are
members or the New York stock Ex-
change. brokerage firms that do not
advertise tho fact that they are mem
berg OF the New York stock Exchange
are subject To- suspicion. These nrrns
are claiming that they are being H.
lcE!timately bounded ont OF business
That Is not true. \ buckle, shop Is n
breaker OF tn" state and Federal
laws
REPORTS Optimistic.
But in addition TO the huying that
has been going on by the bucket
shops. ihcrc has been steadily In
buying, both IN and on, OF Wall
street. based on tn" sensational re-
covery In foreign exchange and in The
recovery from In" recent lUw prices
OF sl,o60.0Unr 900 In Liberty bonds and
s2,0oO,o00. oO0 In farm product prices.
The farmers are out OF most every
thing and with higher prices Of their
products, viii again start ia buying
Decidedly optimistic reports are be
sy1
and Western farming sections re-
gnrding the Improvement In general
sentiment
Consolidated Gas jumped four
points 10 a. new high record FOR tho
year NJ 2s"I-2 on the belief that tn.
supreme Court would decide tina, the
company had tho right to charge
more than so cents FOR gas This
stock gold only this January at 81
lt"ck Island nnyinE l. Good.
When Studchakor was selling down
In the EOS only n very shur; tim. ar,
tho prediction was made In this col
umn. based on Information obtained
from trustworthy sources, that mar
would bc reached TINS year. and pos
sibly l2I. From the same source II
was learned today that some mighty
good buying !s Eoing on In Rock Is
land common on the belief tina, bc-
ioTc thc end OF this year those
shares now selling slightly above 40.
would sell at or near 20. The right
ncopl" hare are also bullish on a num-
! bcr of other railway shares. hc!icv-
ing that tho upward movement In the
rails has only just started.
American Locomotive Will Issue It's
annual report within the next few
days. showing roughly. $3.50 earned
Tor the common stock with net quick
assets Of si0.cOO.000 or almost az
much as the common and preferred
shares combined.
Baltimore mud Ohio reports for
January Sii.269,o00 gross. IA decrease
compared with last year. OF sass,
coo. hut net operating income OF ST.
12G.hoo. an increase Of sGi7.0GO
Today. the Interstate Commerce
'"mmis sion began it's last week OF
til" hearings started last December
IT, determine whether or not freight
rates should ne reduced
l.igGctt n Myers reports for 1927
surplus for dividends equal to s25.33
II share on the combined class Il and
common stock against slS.Gs .or
'n2O.
e. syndicate offering today the
jhfty-ycar per cent Kingdom OF
Netherlands bonds on s.l5 per cent
income return basis. reported at 900
mat is before the opening OF business
that the offering had been over
subscribed