Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-29
NEW HIGH RECORD FOR
CHESAPEAKE AND OHIO
Wall Street Sees Early Settle
mcnt Of Coal and Rail
Strike.
HruDEBAkER IutEtKs 2 POINTS
southern Makes Good Statement for
1uhe-Norfolk md Western Get.
nrnh' T." Handle Record breaking
Traffic.
nrunEnAKEn nnEAKs 2 POINTS.

By IL. l.. Dnrnuin.
NEW YORK! July 2b-with Wall
+, street predicting tina, the coal strike
would he settled within ~cck and
with tho meeting or liS railway
presidents here called Tor next Tues
hay TO discuss The seniority problem
after which Wall street believes ~.
"a! S'ri"" VIII be quickly ended
railway shares were in good de.
iI"nH today, new high record
'"T The year being made In New
York Central and Ch.papcakc and
ONO with new h!ghs for this move.
mont In Rock Island. Great Northern
IHcihc, southern Railway. Frisco
and others
Westinghouse was one Of the f.,y
.nhustrials to show any a1van.c ,o-
ahc day That stock was up on
"cm'oihc!al Information tina, nov
"'dcrA "crc now being taken py
'Ne company a, the rate Or 100000
'rp :; year. back TO the high fo-
l'2o. IL wac stated that no, profits
Tor the three months OF the curr.o,
fiscal year which began April /. we're
ss."op.o0h and for June alone $3.50
Wv or IL timcs the months d!v!.
f'hd requirements
Stud'N'Rkrr Stock breaks,
'iial TO chow any severe break. Tina,
rtock suddenly declined three points
~" directors meet next Monday ia
'hhe action on tho much d.scusscd
extra dividend. Insiders viii no,
wait until action is actually taken
before taking profits
Southern Railway mad /, pood
tttt"mcr; today Tor June vii, r-o.g
90 1il.3S5,9eo against ,lo.2ls.VoO .or
last year and with ne, operating in.
.9me '2.iz9.00O ,omtrn-,ed with sl,-
"'s'oeo. Fo7. The six months gross
was !sl,e9S,od0 aga!us, t6a.ilG. 900
.", net was |N.S2..oo0 against only
s2,I42.000
Money for ,hirty.day loan. was
Gown 10 52-t per cent today. Ths
rate Tor from sixty days 10 four
months vas p.r cent: FOR longer
periods il-i
Frank Vaudcrlp. In an inter
We" win Ia" UNIFIED press on Ger
mans financial position. saws ,h,,
.rmh 'ryuo!" With Germany Is France
h"r FRANCE. u victim OF the war il
"'S" victim % illusion because oh.
S'Ss'H WIN nc idea 90 sct,iug re-
parat'ons from Germany TIM, nv.
not in Tho doth shc wen, hoovr,y
INTO d"at on her own account Van
"eriin then adds "C;cr,nnny b.rIn,
10 u" ggipped - wha, promises ,o
income "&trciac credit -trlrrency
nat statement which was puhIlsNo,
In Wall street early IN the dav -,
tiacted no attention un,il ars, II wa.
!carned that the German mark had
'""He new low record FOR all ,i,n,
800 "'Ni 'Hat IN" German bank rate
-" oceu Unexpectedly Increased
n"riin 'iispatrhcs received bcr,
around o'clock
"' we hhnk rat" per cent from
Il" . rho rate has been : nor con,
since December Of 1871,
H"nds Purchase Equipment.
an money opened today at AZ
r"r cent At one time there was
SI-'yoO'p"o al call money offered a,
- per cent on tn" stock .xrhnrra
;loor oy tho representatives. ~ ~
Wall street banks
y re" days hso everybody In bank.
lhs circles her" was surprised h.,
mo announcement that John II FuI.
ton had resigned as senior vIc.-pres-
ln"ni OF the Nationa! City Bank 40
,, .Ap'anhton was given - The time by
Mr. fulton Today ~ wns nm
honnccd that h" had been made orcs
'd"ni of the Park National 10 sue
coed Richard Dclafcid. who had teen
mace chairman OF the board Dale
Held IKE many other bankers in
""4i street mas earned rest lie
has been striking ngurc IN harl,
M mere Tor generation or more
and he butt ~ his Institution into
one OF the largest in the city. From
1 nov on il" Viii pay more attention
30 his Sioch farm out on the Erie
i near Tuxedo.
q southern Pacific Inns just placed
orders ior two snow piows. Iacka-
y wanna has purchased TWENTY-FIVE
a..
o"niFa! has also purchased twenty
i hN" lhcSc ana other railway couip-
meht ORDERS recently placed have
Increased tho demand for the stocks
OF thc railway equipment companies
New York Central. which only a
short tina ago spent s2,5On.000 for
sev9nty-hvc locomotives. has JUS,
placed an order for 100 large freight
engines with the American and Linn
Il to cost $4,000 600. According 10
trustworthy Information. as resnl,
of the shopmen's strike. 700 locomo-
) pVes are now going out of commits
> sion daily throughout the country
d Evidently New ior!; Central is get
ting ready To handle record break
Il ing traffic. Railway officials here are
confident that there VIII be more
: farm products to move this autumn
than ever before in the history OF,
- the country. Coal traif1c for months
to come will also be record break
ing.
Norfolk md Western Prospcrs
Il Norfolk and Western Is another
road that is getting ready TO handle
. record breaking traffic this autumn
To-day that system. like many others
is tied UP by freight congestion re-
3 sulting from the coal and shopmen'a
a strikes. a railroad suffering from
Il freight congestion actually loses
money instead OF making Il, and the
more new business is offered the
heavier losses run through mounting
operating expenses. TO clean it's
decks for business already at hand.
- and to get ready for the record
brcakng traffic expected within the
next few months. Norfolk and West
crn today wisely declared an en-
harso on all traffic except coal and
Hfoodstuffs. effective Immediately.
THIS decision was reached as re-
suit OF the July returns now at ha<
Nor inside use. officials say that inc
returns for July will be back 10 the
March level However. for the six
months Norfolk and Western. which
has already rcapcd n harvest from
he coal strike. shows Il surplus after
liked charges and the preferred divi-
lend equal to Sis share on the