Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-18
PASS FIGURE FIRST
Time IN TWO YEARS
Dangerous Mart to Trade In
for Those Not Well
Margined.
RAILS PROVE THE FEATURE
Recovery Is Merely Getting Back tn
what Actual Industrial Conii tons
Justify-Nev High Record for Hour
Established.

IBy United News.l

NEW YORK. April lT-Sales OF
stocks were more than 1000, 0oo
shares Monday. passing that magic
figure for the first time In almost two
wears. Rails were the feature to the
extent OF making new high levels and
holding them as against u reaction in
the industrials brought about by
professional operations with Aggres-
sivc action on the part OF the bears.
who concluded that The market had
become top heavy because of the
long continued advance
], must he admitted that II is n
dangerous market TO trade in for
those who arc not we'll marEincd
particularly with regard to the high
ly speculative issues. Some Of those
stocks have outrun their basic worth
for The time being. but in general
the underlying position is unchanged.
"o00oo In First Hour.
In tho sense that tho recent de-
cline in stocks represented the eX-
IRENE Of disbursement on the par,
of investors, the present recovery IS
merely getting back to what actual
industrial conditions Justify
Total saleS for the first hour were
in excess OF 100000 shares. new
ing the entire bull market
The oils. coppcrs. rails and equip
m"nts were again most prominent
and sales for the day were within
reach OF the 1000. 0Nn- share mark
Sinclair. as was the ease on Saturday
was again the mos; active issue on
the entire list High records for tho
year Were numerous throurhout IN"
list and the heavy realizing sales
which appeared in volume. failed to
have much effect on prices until the
afternoon. when there was some re-
action and irrecularity
Hold Up u. u. Dividends.
The Minneapolis. 81. RAUL and SAUL
Ste Marie. according 10 reports re-
'eiVed here. has been enioined from
paying $4,000 in dividends on thu
common and preferred stocks Somc
az the larger Stockholders have asked
that the So scmiannual payment on
the common stock he rnininrd ON
the ground that tho preferred stock
is entitled TO full s. annual divi-
denI before the common can shar,
in dividends
Delaware and Huhson for the year
ended December al. 1921. reports ne,
income Of s4.?37,+52 after charges
ana taxes, this heinE equal to slI.cl
I" share on the Si2.503. 200 cspital
Stock outstanding. In 1920 the com
nany reported earnings Of s+.s33.l6$.
which was equal 10 SLIGO share on
INC same amount OF stock nutslandinr
IN tina; year. The annual report of
the AtchiSon, Topeka and santa r..
VIII he published tomorrow. and this
VIII also make n very favorable snow
ing. At'hison : expected to shcv
earnings OF sli share on the com
mon Tor 1921.
Typewriter Company Flights.
AiiiS Chalmers manufacturing Com
uany for 1921, reports net profits OF
3&'2l''fGS. after all charges for ia.
'trcst taxes and other items. This
nft"' allowing !or the preferred i!vi-
"chds' was equal 10 si.0S a share on,
INC S25.oon.ooo common stock In
w" net profits iotalcd S3.s64.24s
equal to S?,2s Il share after the same
deductions.
y good neht is looked for at the
annual meeting OF Remington Tyne
writer Stockholders to bc held nj,
l'li"n y Y, ou 'Frldsy The Indc-
pendent stock bnldets' committee.
which charges mi smanaccm.nt and
wants 30 oust present officials claim
to have proxies for So .0on shares or
STOCK out Of to'a. Of POI 900 shares
L.oit Inc. reports gross sales TT
Sl'i"i.22S for tn. first three months
Of 1922. aea!nsr 5l.fi3.;S1 in the san,..
period last year