Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-14
DISSOLUTION OF PARENT
CORPORATION ORDERED
federal Body Demands He
gal Trust Practices Be
Abandoned.
:ANIS or ENGLAND CUTS RATE
nnounccs RcdIsrounts Mt = Per
trnt-IHord Plans to BuiId Great
Assembling pInnt In Mcsico-Lurgc
Food shipment for Gcrmany.

Il Food shipment for Germany.
liy Il. l.. Hnrnum,
written for the United Ncws.l
NEW YORK. Jun" l3--From the
ming this morning tho stock mar
t'f acted Tx. something untavor-
'bic was hanging over It. before IN"
4'peninG tho cut in rcdiscouut rate rs
8hc BANK Of England was announced.
hen the overnight developments
:ar" speculative Wall street added
confidence In President Iiardlug's
billy to bring The coal and railroad
,rikes TO an early close.
i, Cali money ~ tho opening Of tim,
&narkct around II o'clock renewed
IL; per cont tho loves, renewal
ate In many weeks. and within the
ext hour TIA" ratio was down 20 p"r
cnt, with t!Ine money quotations
6owcr, some loans running "a ninety
lays being pat on, AT per cent.
4 From tho start. however, oil sharos
yer. weak Around O'Clock our
inc. tho Federal Trade Commission
ave out It's report on tho oil sltua-
Hon. Then the oils began 10 slide
ff rapidly. carrying indus,r,nis aud
Enos' rails va ,hcm Strength In
he rails. however. compared with
Il ther s'ocks vas matter OF wide
: omment.
ChnrErs Violation OF Inv,
In I,s rcpor, 70 tho Sonn,c thu Fod.
raj Trad" Commission snys the
i tandhrd oil Culnpar-"s arc Al var
pus c"ntcrS Throughout tho country
81 iolntinE tho d"cres ri ~. Supreme
3>ourt In tho decision handed ,'cSn
waive years sKo ordering tho parent
tnndard on Company. OF New Jcr
10y TO dissolve. and that no agree
points to raise prices or restrain trade
e made between tho separated com
anie.' All OF the Standard OF com
mics. Il Ia declared arr controlled
8hrouEh !ntcrlock.us directors. ,oirt
8"ner,h!p and trade agreements
HS!'h other companies violating the
'heE'nRn law. with the worst ey-
81 mpie FOUND in the Standard on OF
nh'hna- Sinclair Consolidated tor
tory Tho trade commission ro
omm"nds that legislation be passed
a. hr"nk uD this monopoly. which Is
increasing prices 10 the public.
Nee No Henson far Alarm
VIM" speculative wall Str..r an
'"hrc! frightened at ,oday. do.
'lopm~nts Ia ne OIL industry tho.o
VINO gaTc tho matter serious though.
we're not alarmed In banking circles
'"rc closo - IN" standardization 1.
II not believed that anything harm
i' y big business is coming gu, OF
4" RthinE'on IN The uc.t two year,
Hisii J. Riackctt. controller ~
'Nain'" Of England. and Sir Rohor.
! fiorn"' Chancellor o. tn. British
'ych"0Wcr. VIII return 20 washing
n shor,y with Ambassador Goaacs
Ia discuss with President Hardlnr.s
4 ~ dob, commission England's In
"pi'dn"7s 20 ". according "a -,
/ hy's London cables |, wouIh ~,
sNrrrisinc % our bankers here
Ems hnd made loan In this mar
q got h"t"""n now ana tn. end "a,
'-2. after tn" $4,000. 600 !n,cr.e,
- H'' war G"ht to Our government.
naid IN October. and after an
i rs"nn"n' has hcen reached over tho
fundinE n! tho Ii573.oo 900 calI
y cams now hold ~ washinSton ,n,n
onS- term bonds
: Hockcfrner Made Director.
Il william @ Rocketciler has bean
maze director Of tho Consolidated
Il las Company. taking tn. Mac oThts
a'her. IN" late William Rocko,orio-
henT" Ford is planning to put mn
h'E building somewhere In NoYico
f'r assembling his cars wnshinr,o,
3'hS hoen Informed. Ford I'M. 6nn,
V"r"a lani free with exemption fo-
Ift"cn years from taxes
bankers Offering tho so5 nm mn
,"r cor, bonds NJ New York Central
Tue IN 2ol3, at ail-o to y..id : 40 re-
ceiNcd applications for 400 600 600
5onds
Wall Street was Interested n 10
tSS news from Chicago that Nor
is 'ompany. The packers Ind mr.
rns"d TO ship 10000 ono pounds ~
oodstnN 10 Germany. valued at 81
8no'oNo, or 1000. 600 600 m,rlts -,
&MeScnt quotations. Tho FRS, shin.
ncnt OF hftY-hve cars Will STA,
saturday, II was said SatIsr,c,o
have been made TO-
financing this business through or
3nan agents of Morris
IRE Demand Lighter.
Nh'"h' ONO, reports Sigh. falling
~ IMAM" Tor tires, which is no,
'Ppdftht on III" surface O,har liz,
T" Industry in that center ~.
ported as booming
american WOODEN Will ono,
lo' IT'S spring. 1923. lines nov, NJ
4or"N' " Vas learned today r,rb
sooner 'han was generally nxn,.,.,,
YIN IN" trad" it had been nrnIi.,',
ma the opening would no, 10 ,,, -,
3"i"c" inter because buyers were 49,,
H. 'c""E I" pay the higher ran,c
or prices. In IN" dry goods dis,ric,
tinuins 10 arrive In great nu,,h
Bior the regular seasonal shonninc
4 our ana that their frame of Mid
H*as satisfactory. While uuibh1,nr
EoveTprices. II was stated buvere az
plainly that thew aro g,
need of merchandise: that comm.
ments VIII sn on n broader sn.Jo
hcw"vcr. no runaway market ie ox
Pec'ed ny The shrewdcst sellers.
Dallas Reserve Rate Cut.
n ~ reduction oc from 10 40
cnt IN the rcdiscount rate of Tho
~ edcrai E"s"rv" Bank Of Dallas wat
8hh"nhrcd today by the Federal Ro
Il CIV" BOARD. There was fur.
htr 'hawinE out of the frozen aprI-
cultural loans which up to only a
mouths ago were making scri
'f"nhI" In tho general situation.
"i"S now reports a reserve ratio
y" per cont. against 30 ut this
'' iaSt year. a figure which was
'he danger line. Dallas was