Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-26
DULlNESS IS FEATURE
OF STOCK MARKET
Wall Stree, Bank Loans Are
Placed al Two Billion
Dollars.
Floating supply of shares Largely
In Hands ar Professionalism pHp~r
SnIs I. =. Merchant Marine Hnrd
Hit.

NEW YORK, Sept @5-pullncs.
was tho feature Of ;oday's stock mar
ket Despite the old wan stree;
saying. however. that a dull mar
ket should never be sold short. there
are sun two sides 10 the market
Eut those who remain hcarish did
not display quit" * much enthusi-
asm as last W."k On one side i,
Is being argued that with the large
government financing coming out tn.
stock market vii, not TO allowed to
sell of very much ON the other il
Is boinE pointed on, that Wall stree,
bank loans secured ny bond AND
stock collateral ar" now at the larp-
est figure on record
on" wall Street authority placed
tho Wall street hank loans today a.,
S2.o00,omO.0oo Tho preVious hirh
was I'm tn" autumn Of 1919 when
Si75o.nro was reached In the
liquidation that followed these loan.
dropped IN August. or 1871, to $500
oo0.oro In March of this year tho
figure was back 10 s75oo0O 600. and
since then 1t has been increased
steadily
In tho Hands OF Pools.
To many this figure %, S2OOO 600 e.
GOO seems too larE" Rut whether II
Is correst II can hc stated that to-
day the speculative public is not in
ro!ved in tho stock market as IL
wss IN 1914 hofore the break came
Those an 4 position L" know stated
today that tho floating supply Of
etockS is largely in the hands OF
Chairman Laskor. Of tho Slipping.
in aualy2inc today the volume Of
watcr-horn" tonnage In the tinted
states for tho year ending Jun" 20
which totals Sn.2jo.Ouo tons. points
out with great show Of pride. that
- pcr cent OF this total handled
through American ports was moved
in ships flying tho American FLAG.
That - truc. lIut In aualyziur Mr.
LaSk"rs analysis II j. found that the
total includes laH" traffic and coast
wise traffic wh"r" foreigners are not
allowed to compete.
Wntcr Competition Discussed.
What England really thinks Of
our water competition may he seen
IN tho copy ut-th" London Financial
Times arriving IN ,oday'- foreign
mail 'Shnpinc p"opl" on this side
arc losing interest In tho United
states mercantile marine" tina, an.
'hor!t.' si.tcs. and even the re-
port sent over 81 steamers of 7o.noO
tons electrically driven mas mon
raised a ripple of surprise. Tho fac,
of tn" Shipping Rosrd has sofa on
TIA" 29h wooG"n steamers 10 he hrnk
tn up and never used again, which
are said TO have cost 20. Gee. 400 rounds
FOR 10000 pounds does not surprise
anybody. These wooden steamers
We're never much good They were.
huiit mostly of green timber and
they had a WAY when a; sea Of de-
cantinE their engines tina, was very
dangerous Underwriters Al last re.
fused To touch them at any price.
ana they have for a long time been
lana up in the American ports. Tho
nIttd states had on July some
thing like 80 per cen, ot IL, NOR
chant shipping .aid M id.o. this
'erfeSentinE about 4,o0a.o 600 gross
IONS. In proportion TO its size the
h!ied states Mercantile Marine has
he"n the hardest hit of any me,-
Chant shi2-owninc nation"
southern Pacific had a poor month
~ August hut was able 10 chr 81
1"nsvs Gross for Tho month. ac.
c"idinc 10 todsy's statement. WIS
S3@l6".oo". loss OF Sl.Oa2 600. com
pdEed with tho same period OF las,
year. while not was S4566, 600. "A dc,
crease OF S756.oOn For the -irb,
months gross % slsI.a5o.ooO was on
<l-la6,o"o. but net OF s25.toS. 900 was
u9 S3.3s2,OOO
- shipment 81 s.5OO,ooo gold f.r
knhm Loeb & Co. arrived on in.
Maurelania