Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-02
price GAINS DEVELOP
AT END OF FIRST HOUR
Another Million.Share Day
) Registered on Market
:. !. Tickers.
LOANS INCREASE
Advances to Securities Dealers Now
: Stand mt One and Onc-Qunrtcr III
lion OF Dollars, Nearing Top-Notch
!. Figures.

VIEW 1oiNN, MaN l.-tClIOwiIE q
. trong opening prices CO stocks sold
IN early In the day on profit taking
IS But before the end OF the first hour
- Pie upward movement was resumed
! fnder the leadership OF the indcpend-
int steel shares. Today was another
~hillioH- share session, but trading
LAS not as active rs last week. The
!. consensus OF opinion in the street.
. however, was that higher prices and
Increased activity would be witnessed
before the close OF the week.
Evidence of the increased inter-
st on the part OF the big outside
= public In the Stock Market was found
IN today's estimate of existing loans
n Wall Street banks 10 stock brok-
hrs. The high for all time was made
p July OF 1919 at s1.75o. 0o0,O Then
liter the violent liquidation started
n November of that year there was
steady decline to S5Oo.00o,oOO in
= august OF last year. when prices of
tocks were dragging on the bot
rlom. There was no change until
100000 was reported for the
trst week of January of this wear
BY tho middle of March the figures
= tad climbed to $4,000. 900: by the
:, hiddle of April to S1,1oo. 900. 600. Now
q hey are estimated ut sl.250, zoe. 900.
Goes Bnck Ncnr To Top Level.
- This last figure named brings the
.4~evel back to December Of 1919. But
conditions then existing in the bank
y hE world and in the money mar
srt were quite different from those
now found. In December OF 1919 the
/. pember banks were borrowing from
3 Pie Federal reserve system s2oas-
I, {fS.ooo. Now these loans are only
- feS2.oop.o 1000. With tho thawiDg ont
- frozen loans that has occurred
= nd with general trade not ms active
: rs 1t was In December of 1919. today
he rate on call and time money is
!. lalf OF what 1t was. Moreover. to-
lay there In abundance OF money.
Shereas IN December OF 1919 little
S-F none could be had on any terms.
- Partly bece%9e OF It's large inter
tst In the tobacco trade MONTGOMERY
- yard reports for April sales OF s7,357.
:. 700. an increase OF sS93,0oo over last
pear. with gain Of S1,7240Oo for rho
4.Sur months.
-. Trading on the Stock EXCHANGE for
~ ne month just closed mounted up to
S.4oS,oeo shares. compared with Is.
=. F5,o0o for April OF last year and
= rf36.oo0 shares for 1918. the last
tpril during the war.
-. searn-Roebuck shows Drop.
-. Sears-Roebuck reports for AprIl
eles OF sl4.712.00o. n decrease com
fNred with last year of 10 per cent
Eith the figures for the four months
:. S7.l 5000. decrease OF 1872
50 Mexican Seaboard OIL directors re-
-feated their regular monthly per-
tormance Ny declaring monthly
-, pNldend OF so cents and announcing
:. mat another Sl.oo0,0oO OF bonds had
- IN since the first OF the year win
ne monthly income running a, ca
po,ooo an expenses at 100000.
g., Stuoeoaker lost ground in the early
Fading over disappointment at the
!. Hiinre or the directors TO decI,ro
tn extra dividend at SATURDAYS meet
ng However. the lost ground was
a fupsequently recovered. Studebaker
: tarned s649 share for the ers,
quarter practically the full years
H'iueho OF ~. That was a nav
Ss" record Tor quarterly earnings
ma wall Street now estimates that
ne half year wfll show nj lao, ,Is
= Win an extra dividend OF at leas, 6.
per cent before the end OF the veer
= AKRON. Ohio. Is hard presRed to get
Expert rubber and tire men. for. The
Hst time In two years. Accordinr 70
reports heard here, Akron Sc now
fpera,ing It's tire factories at the
ate OF 22.5oo.0oo tires year. makinr
he output of the country as whole
ka.eoo'ooO. against what was com
Goered as normal for 1929 OF 30.
10000 tires.
some OF the best Judges here do
to' oeiieve automobile. tire and
Nooer STOCKS have hit high for the
rear. But they do believe thai ~
ne had handsome rise theee s,n,,t,,
VIII not continue as prominent in tha
Use. az '''o