Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-01
| GREAT CARRIER SYSTEM
CUTS EXPENSES HEAVILY
Baldwin Stock Responds TO
Large Order for Loco
motives.
fr. II. II. CALLS ron 100 ENGINES
Call Money Advanced Hrrhnse of
Increased Demand to Meet Month
End rQuircmrnt.-WnIi street
Handles I.nrR~ volume Of business,
By q. J.. Iinrnuin.

(Written for IN" United >ew.)
NEW YORK, Aug. Al Today's
2 early price movement on the STOCK
exchange was irrcEula5. nut fol-
loving n dun period around noon.
the advance was resumed with inc
volume OF business handled hravy.
Early IN tho i5y ~ was reported
from Washington that. aror tho
close or tho market al O'Clock, mo
,rcport TO tho Federal TraIn Commits.
: sion on the proposed mergers OF In
dependent steel companies would he
mado public. For days rumors have
been circulated that thls statement
would Do unfavorahlc However. ,hr
independent steel shares yer.
strong In Tho lato trading today
when II Learned that the
Bethl ehem -lackswanna consolida-
ton would be concluded on TIA. ad.
vice OF counsel. and that similar &C
), ton would DO tah"n In tho case ~
Miivale. RepuhlIc and Inland
baldwin Going Strong
Baldwin vas strong ia tn. late
Etradirr on tho news ,ha, tn" com
pany had Just received from The
Pennsylvania an order for 100
freight locomotives OF tho heaviest
type. with the railroads taking lo-
Icomot!ves on one train aud !mno-
diately connecting them Kiln wait
) ing outbound trains. there is no
IQu.s.;on but that egulpincrr during
tho shopmnns strike has uudergoue
Il strain ihat vii! resul, Ia many
equipment orders.
Call money advanced lats TO-DAY
20 per cent, many loans being
called 10 provide funds FOR month
"nd requirements. The nigh rate.
however, broUghr out large Offer
:nga o. money
stock eHrhnng" s"at sold today
for 10000. Tho last sale vas n,
$4,000
southern Loses In Gross. Cain. In Vet.
Southern HALLWAY ropor;s Tor Iulr
gross o, Ir.H.o,oor. decrease Of
$4,000 compared with Last Year
Net was ti.2o2.oCO, an increase OF
$4,000. indicating that there was
drastic saving Ia operating OK
Dtises For "a" seven month";
: gross OF s7i'l5.o'o was down
ah's.ooo. and nc7 o: .i0.07s. 900 Vas
up Fe.77l,oob. From ;heso figures
* would seem that In addition To
saving money from lower wagcsanl
cost OF materials tho company has
he'n reducing maintenance appro-
priR;!ons
sterling was Gown halt poln,a,
TIA" opening OF the foreign exchange
mark", this morning innsks were
OF TWO points. lire three and
francs u i-2 on Tho cable news tina,
, France, determined 10 obtain re-
partitions from Germany in the
event tina; tho PREPARATIONS commits.
sion granted moratorium TO Cor
many today. was already moving
troops into Germany Industrial sec.
tons 70 seize gUarant""s
Bankers hare familiar with tho
/ foreign s!tua,ion do no; blame
I France for wanting 10 col!ec, war
damages from Germany. and m.
feeling is that Germany is not go
], Ing 10 pay ono mark more than .h.
~ forced to. However. these same
bankers look on tho problem, mere
~ az a matter OF cold hlood.d bust
ness. and from that Viewpoint The
. zee ing IL that II France moves
troops into Germany the cNronse
. WIN. be greater than the reparat!ons
thus collected
Drought Hurts Cotton Yield.
B"cause OF thu long drought ana
not weather 1900 field correspon.
Hents OF tho Journal of Commerce
estimate that much damage yvas do-c
, 10 the cotton crop for tho ,nonih
ended August "a the average os,i-
mate on THAI date placing tho con
n!t!on At 600 per cent. or a decline
y Tor tho month or l4l per cont 'rhis
' hFnrn OF 600 compares with 55.I n
year ago, and $50 the tcn-yoar
average for this limo o. year. and
promises crop OF ll.le2.00O bales
& against last years actual OF 7.s53.
j vco bales. l3'i3a.ooo for 1920 and
"il7i'ooo the high record cstab-
!lshed for 1914 Tho New York Com.
merclal estimate is even worse. rlac-
ms IN" condition on S1e date named
ht only SOB. loss for TN. r,ou,b