Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-07
finances TAKE TUMBLE
u, WALL STREET MARKET
|all Money Goes to 8 IL for
First Time Since
July.
IMB MONEY FALLS OFF
CIV York bankers Assert Amount
OF Currency Loaned by Advance In
Mnrkct Lust August VIII Not Ex-
coed $50 Million Dollars.
By II. l.. Barn,,m.

ny IL IL. baruum.
NEW YORK. Jan. 6.-Todays stock
It'll prices holding steady Call
oney for tho first timo since July
OF last year dropped to 1-2 per
fnt,' and time money went to 4 IA
Pr 3he first time since Scptembc r
1917. The drop In time money was
no to tho heavy offerings of call
oney with brokers holding off. Last
My. for very short part of one
~, large hank threw lot OF cal.
oney on the market. forcing the
ute down tn 3 1-2 per cent Then
hterior banks withdrew their bal
|lccs from here and the rate quickly
|ivanccd.
Small increase.
According to wclI-Informcd bank :
r. here the advance In the stock
Farket. which started last August
nd ran pretty we'll up 10 the close
1921 with few sct-backs, in
reafed the amount of money loaned
/ call by only fl50.O00.000 from the
Fw level OF last year. which was
zoe. 100000. That figure compares
eth S,I50.000.000 when the, after
ar speculation In the stock market
ns going at full blast. This In
ease OF sI5G.6oe.00o In call loan.
ldicates that there is not large
ublic following In the stock market
the long side.
All ot tho Federal reserve banks
a whole paid to the government at
he close OF 1921 s59,974.o00 in fran
lise tax and Increased surplus ny
l.G33.000 to s215.000,00n. For the
ear 1oi.5' per cent was earned on
Inscribed capital against 1912 for
"a Nnn l.
armed net s2s,00O.o0o against S53.-
10000 for 1890. For 1921 net was
1unt TO ara per cent on capital
Sainst 2i4.3 for 1920.
shows Zig Earning.
burlington. according TO the ON
ais ~ that company. VIII show for
~ Sl3 share earned for it's Si7u.-
3lh.oo0 stock However, nil OF the
vidcnls wore not earned by ses.-
Do.ooo Lccnuse OF the extra payments
AIDE. which Will be charged TO ac-
imulatcd surplus.
Nav Haven announced today that
New Haven shop, employing 1000
zen. which Was closed on December
N, would be opened on January Q.
ne department of tho Allegheny
tcel Company, which has been closed
,r. nearly year. viii he opened on
January &c. The Newton steel Com
fany. at Youngstown, Ohio, will re-
Juno on January 2.
There are now only three Federal
Deserve hrnks with their reserve
latio in the 40s. Compared with the
HI reported by the system as n
|'hole against Ill n week ago and
|G.t n year ago. Richmond now shows
(a.o against 1913 n week ago and i5c
year ago. Atlanta is now 422
galnst i2.6 "a week ago and Az Il
fear ago. Dallas reports ASS against
81 q week ago and i0.2 Il year ago.
Interested In Cannes News.
II Much interest WAS shown by Wall
ftreet In todRy's cables from Cannes
|eporting that the supreme council
lad agreed to the proposal uade by
Lloyd George for an international
|coRomic conference to discuss ways
Ind means of rehabilitating Europe.
Vail Street believes that this coun-
Try viii take part In the conference.
According to Washington dis
patches, the farmer bloc vote Is going
10 pass on january II its LIN pro-
tentative on the Federal Reserve
Board. 1t was also stated that Presi-
lent Harding is going to veto the
bill on the ground that 1t would be
Flans legislation.
Wall Street heard today that
lumber of small independent steel
Companies have asked to be allowed
10 take part In tho discussions for
| larger merger after the three COM
Panics frequently named In this col
INN have been consolidated. Talk
Vas also heard today OF a copper
merger to take in Kcnnccott. Utah.
'hilc. Ray Consolidated, Chino. Ne
ada Consolidated, the new COM
amy to be called either Kennccott or
J. S. Copper. 1t was stated today
hat nothing definite is likely to take
lace In the proposed copper merger
,efore April.