Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-05
BELIEF IS BUSINESS
HAS REACHED ITS PEAK
Bankers Say Industries Are
Beginning to Feel Labor
Shortage.
FINAL PRICES NEAR LOWEST,
business smaller Than for Any Full
Session In Wccks-Standnrd OH
Issues Are Under prrs>urc-Ncu
Jersey Takes Drop.
Nv ItroodaIt whit,

NEW YORK, Dec. 4.-Ccrtain
prominent bankers believe that gen
cral business has reached its peak
on account Of tho inability 81 a num-
Der OF important Industries to obtain
additional labor. THAT is the rea-
son stocks showed hcavincss today.
Excuses given for the decline. how
ever. We're unfavpra bio developments
relative 10 the Near East situation
and revival OF the question as to
whether stock dividends will be
taxable. The latter was once settled
by the United states supreme Court
Standard Oils were naturally un-
der pressure, standard of New Jer-
sey once showing drop OF more than
three points. Early strength in the
general list was followed by liberal
offerings. With but few exceptions
final prices We're near the lowest
business was smaller than for any
fun session in weeks
Lack Of Cars Hammer business.
Some captains Of industry say big
business is being materially restrict
ed by the stability of the transporia-
ton companies 10 get SUilici.ut roll
Ing stock Lack OF cars. one hig
steel maEnate SAYS. is restricting coal
shipments ana rrtaTdjng movement
OF foodstufls. This man suggests
that the government order from 200
rem; them on per diem basis TO the
railroads. subsequently giving them
an option TO buy the equipment, lie
claims that lack OF sufficient cars is
tying up much labor which could bc
released TO other Industries.
The highest price since lal? when
tho British government removed the
peg was made by sterling cA
change today. French francs did lit
lc. but Swiss exchange rose sharply.
Call money was firm a. , IL per
cent.
DEVELOPMENTS in the independent
stools arc fast coming to the surface.
j Leonard kcn!oGle has purchased a
substantial interest in the Wickwire
Spencer steel Youngstown sheet and
tube probably VII! so on the local
stock exchange In January. 1928
Nanadium Corporation of America in
November had the best month IN
about year and a half Rcplocle
steti is being quietly picked up by
lnsincFs. Ihe company reports dis
c"NcrN OF an ore vein carving 80
per cent natural iron Replogle and
Nanad!um are in good financial con-
diion. National Enamclling and
Stamping is also doing very we'll
earnings being at the rate OF Slo
snare on the common which pays Sc
:. share
oils Ar" Under Pressure.
oils were under pressure. MARYLAND
''i showed drop OF about three
POINTS being sold ON apprehension
''IdllN' 10 thc pcrmanency Of the
dividend Large earnings for Mcxi-
can Petroleum in November hcln.J
support Pan American shares Shor,
covering also helped Producers and
.rehners dropped point. although
eAas ana Pacific Coal and oil which
u "Np'ctcd to be absorbed. show
vd strength
iiIIh -rric'd tobaccos are well
hHch ~ anticipation Of stock or
MI" dividends. orders in American
Iphaccn followed issuance Of cir
cnihr on tho company by a stock OK
change house.
Improvement in the bond markc,
h"s "c'n sufficiently good the las,
M''N l" warrant predictions By big
investment houses Of new issues
WI'hln IN" next week or ten DAYS
p"allnSs In copper conver,iblcs nrc
attracting much attention. Amazon.
u"S forthcoming bond issue may
carry convertible privilege.