Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-16
PRESIDENT WILL TAKE
FIRM STAND IN STRIKE
.Hardings Refusal to Mediate
Further Shows Attitude
on Walkout.
'H'oIbi'E steel. FEATURES
STOCK Moves TO New Upward Record
I"bhrco Products Lively uuh
IiiSher-scnrn-Rorb VIII Not
Retire Notes.

by II. J.. IInrnum.

! written for the United News)
e NEW YORK. Aug. Is--The action
= or the stock market today Indicated
y mat the sharp drop in 1he las, hour
y OF trading on Monday was due en-.
ttirely TO the activity OF professional
traders Who saw an opportunity in
'he coal and railroad news TO at.
tack the market for turn. They
y were Succession in their operation,
= !" some extent, hut II is doubtful
II many got away with a p-oat in
We" o! the fact that 7he rise in
the early dealings today was brouph,
ABOUT on very few transactions
When the better grade OF rails and
industrials got around TO yesterdays
nigh levels, trading became more ac-
i've as "A result OF buying for the
snort account OF Monday.
strike News ConfusIng.
The news which is coming to hand
IN connection with the coal ana rail-
"ad sifiH. Is confusing. The pub
nc Eets t!tte consolation from the
hehh!in"s. which report Improvement
ia some sections and worse condi-
ions in others In spite o! the news
however. IT is generally believed here
mat hnai settlement OF the coal
strike Will be Witnessed within a few
days Much progress has been made
since last Thursday In bringing abour
an agreement in this industry. In
the railroad situation the outlook Is
n"t" dubious But desuite il all
tl"NoGIoI" developments ar. expected
President IardinE's action In rctu,.
ing To call another conference Is be
ll"V"h TO nh'Cnt. that ne viii ,ak.
" hrm stand Ia his expected message
10 congress and tn" nation Tho
stand 10 nc taken viii be decided on
az ioday's Cabinet meeting The de.
'i>ion j. ke"rly awaited mere
Another development which il con
ider@d favorahi" is IN" attitude Of
t""roa' executives. who display a
desit" 10 night tho battle" to Tho
end. indicating iha, they mus, have
IN" si'uat ton well In hand In most
bIhc"> Their hurudc To tho non.
STRIKING unions - considered u good
sign. ina-much as they demand tn.
B!s Four TO make known their
position one way or another SO that
ne executives can take action. or
i've up 10 ,helr contracts Abandon
hent Of trains IN the West is severe
~ criticized here and Is believed to
he costing the unions many friends
CrucibIe steel Aguin Active.
'tu'IOlc stSc! was again an ac-
NV" feature on the local exchange
IA" stock moved upward 10 a new
hirh record :or the movement Euy
INK. according TO moor traders. ls If,
connection VITA rumors o! p.udin.
favorable Developments Directors
~ the company meet tomorrow TO
axe action on the preferred DIV
lend Action on The common divi
d"nd - not due FOR another month.
"ui u is understood that some IN
liinhtion may ID" given after toulo--
row meeting ~ Il rcsumption Of
dividends on the common stock. Thu.
ia some quarters VIII be looked
up"n as an effort to boost the com
mon stock above the 500. In ord.-
inat the company may sell new
stock ~ tina, price. Il Is under
stood that The proposed stock offer
ing has been undcrwritten by local
bankers.
Tobacco products also was active
and higher
Sears Roebuck Will no, retire an
g ~ IT'S notes on October as ure-
Nlousiy announced. The chang. in
plans Is due to Il desire OF directors
o.. I" conserve cash resources pending
settlement az the labor s!,ua,in,
only tho notes maturing on October
J, this year. will be taken in by Tho
company.