Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-06-15
STRENGTH IS SHOWN
AF TER EARLIER DROP
Some Stocks Purchased Tues.
day for Support Sold
at Opening.
MEXICAN noNDs ADVANCE
To-" Up From 4 to z Points on An.
h"unremcnt of progrcss In NeK0-
unfions for HefundinE Debts.
Lamont In OptImintic.
Ky Il. L.. Iiurnuin.

NEW YORK, June i4.--Somc of
Tic stocks purchased at the opening
Yesterday FOR support were sold at
the opening this morning causing
an Irregular market. Thereafter
the market displayed considerable
strength. However. those In wall
Street whose opinion counts for most
are Of the belief that the market is
still top-heavy. and should be left
alone.
Studcbakcr was strong today on
rumors that the directors, when they
meet Oh July 81. Will declare an OK
ira dividend. There is no question
but that earnings Justify an extra
dividend and the chances are one
vii! be declared. Insiders estimate
that t35 a shar. viii bc earned for
the stock this year. Wall stree, be-
ii.vcs. however. that the manage
iu"nt has too much stock market
knowledge TO declare Il large extra
dividend ut ono time
Mexican bonds were up from TO
points. or more on todsy's an
nounccment that negotiations for the
rsfunding Of debts was progresHiny
satisfactorily. The statement given
gu, by the Mexican officials who arc
taking part In tho debt conference
mere was very optimistic US 10 the
nnal outcome OF the negot!atlons But
ne French. British and American
bankers. while more hopeful than Il
tew days ago, are less optimistic
THAI tho Mexican representatives.
Thomas ". Lamont, who is heading
the American and foreign bankers
said today before resuming the con-
ference. that the stage had now been
reached whore the points which have
hsa. ~ I'D ,t,l -
writing. But he added: There nrc.
however, important matters 10 be
arranged.
MEXICO Gold Dag.
Your correspondent talked today
with another weli-known !nterna-
tional banker. taking par, in the
Mexican debt conference. who has
had great deal OF experience IN
financing Mexico. Alexander Won
Humboldt. after visiting Mexico
hundred years ago" this banker
said. remarked Mexico I. beggar
sitting on a gold bag" nothing can
be added today TO that description
Of Mexico, except that tho Mexican
temperament has not changed We
seem to be on the track today: but
by night we may be on and way be
IN the ditch. In the long run. how
over satisfactory solution will be
reached"
Sinclair oil directors INST today and
resumed dividends BY declaring n
quarterly payment OF 90 cents. The
last quarterly payment Was per
cent in stock In April OF 1921.
Sinclair has outstanding 100000
Zig per cent notes due in 1925
which will be paid or this Novem-
her at 100. These notes are con-
vert!blc UP TO thirty days before re-
dempt!on on tho basis OF ten shares
~ S pcr cent preferred, and 2l-2
shares OF common for each $1,000
note.
Gas Production Rises.
Npr., production Of gasoline was
i12.H2o. 900 gallons. according to to-
days report. against 426.2l5,oo0 for
tho same month last year: domestic
consumption was 3s5,563,o00 gallons
900 aga!ns, 5G624.oO0. stocks Ss2,-
$4,000 against 747.2cc.0oo. Crude oil
stocks were 37.75l.o0o barrels
against 2I.O54,o0o at tho end OF April.
1871.
International Mercantile Murine
reported today FOR 1921. Including
subsidiary companies net earnings
Of sl4,o70.o00 against sl7.4S4.0 for
1920; profits after fixed charges. Sill
$4,000 ar" 10. ,iepre-
citation, S6.II5,O0U against s5.345
600: surplus. s5,7os.ooo against So
100000 President FRANKLIN sag
tho outlook for the new year Is any
'IinS but encouraging. owing TO the
new law restricting immigration.
Call money ruled at per cent to-
day, with thirty and sixty-dny
money al 3 "a. ninety days ut and
six months at 4l-i.
Fisher Body earned for the year
ending April 30. sG,1e3,0o0 after in
q