Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-04
[OCK MARKETS UPWARD
MOVEMENT CONTINUES
ndebakcr Attracts Much At
tention, Going to 90 as
High for Year.
DEVELOP STRENGTH
|ernEe Selling Price OF Eight Prin-
fipnl Iron and Steel Products Have
remained at S44.0D for SEVERAL
Dy II. T.. Rnrnum.

By II. l.. Bnrnum.
NEW YORK. Feb. 3.--Advapces
fss scored MT the opening Of the
bck Market this morning, AMI
oughout the day tho upward move
mt continued. Studebakcr WAS the
eek attracting most attention. n
high record for the year being
do at o. around o'clock. This
npares with s3l-s the high made
year. with 126 as. the high for
20 and with Isl the high for all
ie. made In 1919. II was learned
lay that the pool. which has been
hrating in Studebuker for the past
o years. hns just sent out checks to
bl members for between $1,000. 900
4 ~, 100000 as the profits for 1921.
Fhis does not mean that the pool
b been wound up. TWO Of the
gest stock holders OF Studebaker
4actlve managers of the pool which
still operating In tho stock.
Chandler Advances.
While Studebaker was advancing
4 points today to it's new high
lord, Chandler moved up 33-i
nts.
Motors were the feature Of the
Fly. Trading. but after noon CON
cradle strength developed I'm tn:
~ This was after wheat and cot
pboth advanced sharply. The ad-
noes In wheat and cotton during
b past two days have had very
'ornble effect on stock market SEN
lent. In this connection bankers
close touch with tho wcBt pointed
that tho tables were all set at
e beginning OF the year to go
cad when tho Chicago bank
'ubIes developed forcing liquida-
d, in the grain and stock markets.
.orn products cAlso made n new
81 yfor tho year early today at
3A.S The 1921 high for this stock
t1o< 1-2. for 1920 IL was l07 and
'El9l9 II waH l09 7-s. The high
r-tiuc price WAS ISL
Considers Zig Dividend.
Rails we're helped by rumors that
uisvilles and Nashville was con-
ering 662-3 per cent dividend
ced from 800 n share to S25. The
npany has outstanding s7:.00o.o0
bck and it's profit and loss sur
10 ut the close OF 1920 was $751;
200. The annual report for las,
ar has not been issued, There IS
longer any great need for q GALL
nd TO carry a.largc profit and bss
rplN s. The government makes
I'm divide all surplus earnings over
pertain amount on property account,
o thing for a railroad to do Is to
wv in earnings whenever possible
d then do what Louisville proposes
do. Standard OH has done this.
The average selling price OF eight
Innipsl iron and steel products has
MANNED for wseks-at $4,000. This
"a 4. -.
18th sss.03 tho high for 1920. with
Ills the high wartime price and
Plth $3.50 tho average for the thir-
&-Nears ending with 1913.
Pullman shot up three points to-
~ when Haskell Parker was
ricken from the list. showing that
e last lose ends of the merger had
ZEN tied up.
VIII Iasu~ New Notes.
Illinois Central has applied to tho
terstate Commerce Commission for
omission TO issue }3.e55.0O0 equip
emit notes. Tho company will use
le money thus raised to pay for
o2refrigsrator cars and for 1000
eel coal cars. the orders to he dis
Idted among several manufacturers
Guiding Pullman.
- bill has been proposcd at Albany
penling the 'fuil crew law OF 1919.
his shows the way tho wind is blow
&. year ago or even six months
90. no one would have dared TO pro
,se such thing, although most
7'eryhody except union railway labor
ants this useless but costly law
,peRled.
There were l.o42 new companies
ith capital of 100000 or more or
{2ntzed Hast month. having total
Plhtal OF ss43,6b2. 900 the best show
iK made for any month since April
1920. when there were l,l25 new
fmpanles with total capital of S9s7.-
1000. For November the copital OF
ew com panies dropped to 1857. 600. :
10 and In July to 1881 .00o.0
5rFreight car 'loadinEs for tho wcels
[nding January 81 were 73s,275. n,
7.39s from the previous week and
fI617 above the same week for 1921.
There are now only two Fedora
anks with reserve ratio in the to~
hefeas the average for the system
Is a whole at this time last year
las 4a.a against the 1872 Just report
n. Richmond is 1875 against 4s.7 q
teek ago. and 1870 a year ago; Dallas
y 1913 AGAINST 4SI week ago, and
100 q year ago.
An average advance of rs per cent
reported from Boston in the price
( 100000 pounds OF wool Just auc-
oned by the government against
ne fnrice obtained a month Ago.
\ Ans;advance of Gle points occurred
IA me average price of 40 Industrial.
abroad and public utility bonds last
lnonth to 70.2. There has been a
ready advance since sos was touch :
g last October. Public utilities show
ne.eilarsest gain for last month.
here Is good buying In all public
itiiity securities on the belief tina,
me corner has been turned.