Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-11
STREET IS ENTHUSIASTIC
ABOUT BULL MARKET
Six Months Money Is Offered
Freely at 4 , Per
Cent.
UNTITLED STEEL ORDERS GAIN
biggest Increase Ucpprtcd Since
SprirE Of faco-ENpccf Some large
Railroad Loans To lie Announced
ffy II. l.. nnrnuni.

NEW 1'ENh. ~ iill ~ quay Ma
another million. share day with spec
ulatlve Wall Street now SO cnthusi-
astc about the bull market under
way. that 2.O0O. 600 share days are
being predicted as a regular daily
event. With stocks still in strong
hands. with sin months money be
ing offered freely at l-2 per cent
with q highly favorable ruling on
coal strike labor from Wall streets
Viewpoint. with statement Of un-
filled orders from the steel corpora
ton much larger than even the most
optimistic predictions that wcrc made
last week, the band" as the head Of
one large stock exchange firm cN-
pressed il. Is still playing and IL is
part OF common sense to keep in
step with the band"
Nevertheless. while believing that
this week Will see still higher prices
the heads OF conservative firms in
their talks with each other are adj
wishing caution until reaction in
the stock market has occurred.
Those who are already in the mar
ket, and have a profit, should go
with the tide" another banker re-
marked. adding, but those who are
not in may make a mistake TO come
in now. When the stock marke; has
advanced as long as this one has and
gets as active as It now is. some
thing unexpected usually happens to
bring about reaction.
Gain In unhIlcd Orders.
Last weeks highest estimate Of
gain TO be shown in today's untitled
orders for the steel corporation was
for 100000 tons. Today's figures as
of March 81. were 4.494,iiS, or an in
crease OF 553 900 tons over those for
~ IaS
monthly increase was $4,000 last De-
ceneer. But January and February
again showed decreases. the decrease
month ago being over 100000 tons.
In fact. untitled orders OF the steel
corporation have been decreasing
: since August OF 1920, when the fig
ures stood at ll.lis.000 tons. To find
an increase anything like as large
as the one reported today. it is neces-
sary TO 60 back TO the spring Of 1920.
That year March showed n gain over
February. OF 100000 tons; Apri, ever
March, gain OF $1,000 tons: May
over April, gain Of $4,000 tons
But it was not many months before
tn" long decline started Today's
statement compares with G,2si 900
tons at the close Of March. last year
The ruling on the coal strike sit
Nation which greatly pleased Wall
Street come from Federal Judge Me
c!intei. OF Charleston. W. Va in an
injunction granted temporarily re-
stra!ning the United Mine Workers OF
America from further Attempting to
organize the nonunion districts of
West Virginia and Kentucky The
tent colonies were also ordered To
ashland This decision more OF
which undoubtedly will be heard. fol
lowed the news OF slowing down of
steer production owing to the uncy-
pec'ed headway that has been made
IN organizing the nonun!on miners
ihere was considerable profit max
ins in industrial stocks during the
carly trading with the rails holding
or advancing, but the way All stoct
offerings were absorbed to meet the
demands OF the public followed IN,
INC s'eel corporation unified order
statement and the foregoing ruling
again started an upward movement
IN me lndustrials many new hiyl,
records FOR the year being made be-
-, fore the close.
Expect tscinn mn.
shipment or- sr5S. 900 gold from
sweden Will arrive here Thursdav
ior me Nat!ona! Bank Of Commerce.
STANDARD oil Of Indiana advanced
hlc"So iank-waGon prices on Enso-
me today ID cents Ia u NIL, -
wall Street believes tina, mo ,n,o
Iuu"i passed by tho Senate TO-DAY
"'oefhE the Senate Banking and
currency Committee to inv,s,ipa,.
"e administration OF the Federal re-
hanks In response 10 recen,
Crtic'Sm viii result in clean nil
-. nTa'th FOR Governor Harding and
""Sn'ns'on associates. There is
IesinE however. that there mIrb,
be UNPLEASANT developments in can
hection with N" charges r.1o
against the New York bank for 6is-
rr'n NATION in lonas cNtravapancc
IN the payment OF salar!c. and IN
ne P"hs Tor the new bank build
1t would not he surprisin. II como
iaFse railroad loans were anpour I'D
IN me near future. growing on, ~
IN" needs or III" carriers for WORKING
capital Tor improvements and hn.,or
mehis and the recent success Of th-
Ne" YorH Central n floating it's $50
100000 loan Wv
Large Amount al Idle Capital.
FRESH rFopf Of tho very larg,
amount u die capital in the coupiT,
awaiting Investment on what is cen.
s"eie" favorable terms was give,
Wh.n large Banking syndicat,
mace an Offering OF SI3 bQD. GOO tyen
tEhNe-y"sr : per cent bonds OF IN.
GU! OF RIO lie jau"iro ~ lG2 VIM,
rev minutes after 10 O'Clock i
vas announced that the subscrfptio,
BOOKS had already been closed viii
me onerinS 50 largely o~crscribo.
mat aN"iments would Toe very small
IL IS slili too early to tell dcGniteI,
"hat the many subscribers win gel
Seplogle steel announces ofiIr,,,
ina; II has acquired control Of tn
Empire steel and Iron COMPANY. T.bi
VIII increase the annual pi; iron uro
duction capacity OF ReplogIe bv go
900 tons 10 60 900 and viii rive IN
company additional ore land hold
3 u HEH % e q 70 ~ u 2rn2
q