Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-11
INDUSTRIAL SHARES
REMAIN IRREGULAR
Despite Unsettled Conditions,
business Fails TO Show
Weak Tone.
RAILS TAKE SuBsTASTIAL RISE
|"reat Northern Preferred and MOTH
rrn Pacific Must Prominent Among
carriers FoliouInE Good News
From Washington.
RAILS TAKE suBsrANrIAL RISE
Hy II. J.. liar M.

NEW YORK. Feb. l0.--Industrinls
stocks moved around In an Irregular
Fashion during the greater part. Of
was to be expected in yiew Of the
[sharp rise stocks have experienced
Ior late. Bat while many Issues on
ne lis,. which have been conspicuous
T.: late because Of the skyward move
|ment, present "A rather stale appear
|ahcs. the market In spite OF the re
actions here and there. does not din
In'hy weak tone. The outstanding
GROUP In today's trading was the
|railrond stocks, many Of which I'D
lNauccd Ia new high records for the
current movement. Gr.at Northern
Iprc..rred and NOrthrrn Pacific Was
Tcst prominent. The rise WAS at
|tr!hutcd 10 the favorable statements
coming from Washington creditinB
|p'!cnls 81 tn" government as say
| n@ that the railroads are about 10
I"nioy return ~ prosperity and that
presumption and increases in dividend
| pa N'nen's may he expected. This Is
IL "nth"r optimistic statement. but
IL ~ least does Indicate that things
Ia'c shaping for the better
4. y. steel Nencis.
United States steel Common. which
was VIC leader in the late rise on
Thursday reacted somewhat today, n
natural development In view OF the
3ch"rictcr OF the trading in the stock
on Thursday. The move was purely
I. grand stand play against the short
Interest and was accompanied by
Isomc wild rumors about what the
company would show In tn. way or
|unnllcd orders on It's books at the
CLOSE Of January.
Iissued at noon today showed re-
Iduction Of 26.T35 tons as compared
with tho close Of December. This
|snrprise for at least a small increase
wan expected. There sre numerous
Explanations for the decrease. one
being that the corporation Increased
output in the closing weeks ~ the
month and the other that shipments
during January exceeded output.
February Hooks Favorable.
February. however. Is expected to
mako a much better showing in the
matter OF unfinished orders on tho
books OF tho corporation. as the
TRADE Journals this past week re-
ported that thero has ben n decided
change for the better In the Indus
try nincs the nrst Of February. and
that orders havo been coming TO hand
from all quarters.
All sorts Of statements can he oh
tanned in tho financial district re-
gard tho situation In tho automobile
industry In some quarters IL Is
sald that business Is coming in on
an exceptionally large scale and that
most plants will he kept busy until
the turn OF tho half year turning out
orders already on tho books But in
orders II Is said that while this may
Tie true. n large part Of the new or
|ders were received from people who
healthy sign. as the used car market
is understood to be already glutted
with cars. But regardless OF this. the
pools and professional traders oper-
ating in the automobile and motor
accessory stocks are optimistic ms to
the future for these shares and make
the predictions that they will he sell
ling very much higher before the end
OF the current year. The motor
stocks hav" already enjoyed sub
stantial advance. hut more IL pre-
d:ctcd. barring the reactions which
may he witnessed on the move The
motor accessories stocks. however.
have not gone up very much thus
liar.
Grain Continues Upward
Grain prices continued their I'M
ward movement today. on each day
this past week grain prices have ad-
vanced only to be followed by re-
action. but on each recovery new
high levels have been reached. The
statistical position Of the industry
each day hears out the belief that
better days are ahead for the farmer.
and some OF the leaders In the trade
are OF the opinion that the farmer
will have n prosperous year in 1929
This. il true, Will have decided
bearing on bringing about change
in tho general financial and economic
situation OF the country as whole.
as the buying power OF the farmer
will be restored to somewhere near
it, old level.