Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-17
TREASURY OFFICIALS
SEE IMPROVEMENT SIGNS
Regard Advance in Business
Now in Evidence as More
Than Seasonal.
Twelve Leading Manufacturers mud
Retailers Of Tobacco md Tobacco
Products Show Increase for Year
OF 35 Ter Cent.
Ivy Il. l.. Iiarnum.

NEW YORK. March l6.-OutSide of
the Hi stocks. which sold of. hu,
afterwards came back some the mar
kct opened around last nights clos
ing and stayed there until call money
which renewed at per cent, drop
ped to l2 and then around
O'Clock 10 3, after which trading be-
came very active with prices ad-
Vancing, many to new highs FOR the
year. Onlookcrs able TO take n dis
interested view OF the marke. thought
they discovered today signs OF dis
tribution. It is believed this selling
has been going on during all of the
recent million share days.
Aside from the drop in call none
rates with time money down to 1 l2.
sentiment in Wall Street was hc!pcd
by ;oday's dispatches from Washing
ton quoting prominent Treasury Of
ncials as saying that the improve
mcnt in general business now i3 EVIL
dcnce was more than seasonal
movement. This belief was based II
was stated, on information Obtained
from steel and other industries. II
was added that in the opinion of these
officials the only dark cloud ia sight
was the threatened coal strike. and
that in shat case there were large
supplies of fuel now on hand with
the nonunion mines to be counted
upon in case of shutdown.
Mistake "a Change.
Ioday's early cables from London
renewed the rumors that Lloyd
George was about to resign. These
ruihofS were subsequently denied
from official sources. While Wall
street recognizes the SHORTCOMINGS n,
England's Premier, the feeling seems
10 be that IL would be mislak. TO
nave n change in government ut this
'ime. The street seemed to be pleased
NJ the cable news late in the dnv that
Lloyd George was to be one of Eng
lands representatives at the Gcnoa
economic conference.
Twelve leading manufacturers and
retailers of tobacco and tobacco pro-
ducts show for 1921 net protits or
s67.3oS.OoO. an increase for the wear
OF 10 per cent to Il new high record
bonds and notes of corporations
maturing next month aggregate s73.-
10000. against sS3.379.0oO for This
month and s45. 4S7, 900 for April OF
ls2l New Haven has already an
nounced that II will offer 10 per
cent cash and new per cent bonds
Tor the S27.000.000 per cent bonds
iaiiins due next month, which are
heio abroad. Erie is working on
plans TO have its Sl5,0OO.OOO three
year per cent notes. which mature
next month, extended. All of the
other Indebtedness falling due in
April is In small amounts.
Sinclair Lends OIL Stocks.
sinclair led the oil stocks AT the
opening on very heavy trading ono
DOCK OF $500 shares changing hands
DIT "a new high record for IN.
80 win the advance continuing
Just now most people Interested in
nj
cess OF the new financing which
places the company in a comfortoh,e
position, as 1t converts short,orr
notes into long bonds. novirg
io"er rate, and. besides. releases
me pipe line stock sold to Stond,ra
vi OF Indiana, allowing thar trans
as''oh 10 be closed through paymcnt
cash While Sinclair's now
80, Is interesting TO prominent
49,, mere who usually know
M""t is going on. these mon ara -,
me belief that the most favnra,1a
factor In Stnclair's prescn, nos,,inr
the friendly Understandable now.
e"isihg between Sinclair Stana,r,
VI OF Indiana and prairi. on ,r,,
Gas: II would not he surp,isi,r n
weA-Hnown mGl. closs to Stapdara
oH remarked. ..,odaN- n at some ti,na
IN me near future Washington nnr1
. 49,. go" c!oseT relation than now
eA4sts between these three cow,
mes serving the same territory ~
'"'Eest III the country in tho matt.
Va automobile demand.
Grea; Northern ana So-,h =,
enc were heavily sold todov hot,a
LOUIS W. Hill. chairman Of Ca,
NOT 'heFn. said In published ,,tnr
view: We feel confident her. 49,,
ourselves that the action tak.,, ,,a.
ternay In changing the d,yi5nr,,,
p,.!od from quarterly 10 s.njanni
WI make no difference In ~.
amount Of dividends that s,ocn1
holders vii! receive" Thc ,oa, tA
'he pest quarters here Is ,hn,
"'cat Northern, getting a larpo ~,
"S income from Burlington 81,
~! Followed RUrlington's rocn,,,
I"N" IN changing its DIVIDEND nav.
IsMts from quarterly to semionr,,a,
h"rIihGton Will now dcclarc &C. ..
a'EIdehd in May and Great Nor,horn
directors VIII act n month i,,ar
ms new arrangement perni,s c.:
Horhern 10 know just whar IN ~"
pec' from burlington befnra .c,t.
on us own dividend. How.vnr ''' :, =
must DC admitted that an cIcr,.,,
uncertainty has been IntroducaI va
treat Northern's dividend om,iI.n'.
by yesterdays action. ''''"'N