Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-25
DOWNWARD TREND
IS PROMPTLY HAL TED
Rails Take Market Leader
ship, With Strong De.
mand for Stocks.
y. a W. SHOWS NC EARNINGS
Coal Rond Enrns 10 Per Cent ON It's
sl2l .Oh0,Nm OF Cornmuu stuck
During Iirst seven Munths or
Current Nrnr.
BS ". l.. IInrnuIn,

United News STAN Corrcspondcnt
NEW YORK. Aug. 24-Therc were
Iorn" declines At tho oponing ~ tho
stock market this morning on tho
overnight news that tn" railway
president, at yes;"rday's aIl-day con-
foronc" had reached the decision 10
""urteousiy. but firmly maintain
,h"!r position OF refusing 70 restore
seniority rights 10 the striking
shopmcn. However, the feeling In
Wall street was that II The railway
presidents had given In AZ tho cnatI
mon did in granting tho old htrh
var uno wages. mis- mnriInE's de-
clin"s IN tho stock market would
have heen larger
"A {; wav. IN" downward moyo-
mont was shorr-lived. Iy 1890. or
haif an hour after N" pg"niug. rails
istar,cd upward win Northern Pa
ici'ic. Groat Northern. Ntchlsou and
New York Contrnl IN tho lead Mar
camille Marin" was on" of tho OK.
""pt'ons. that STOCK declining from
itS closing ~ i7l-c last nigh, to
80 ~ on rumors tina, tho dividend
was going 10 be reduced or Passed.
American Tclcphou" also sold on on
III" news ot tho new stock Issue.
Street Decidedly HulIi.h.
Wall street. as a whole, remains
decidedly huiiish on tn" general
business situation and on tho stock
market. y round or tho hes, hnrk-
ing circios hero Shuu- thar orlrfr,
tn such quar'crs IL agreed ,nat th.v
country is already In another period
% price imitation and business cx-
Unnsipu
Southern Pacific reports Tor my
gross ~ s2l,hGi.oon. dcciin" COM
pared Win last wear .! taSg. Gao. Win
h"' ~ - hoo, an Increase NJ ti25.-
o'H For the seven months gross
vas tlil.792 600. Il decrease az tll.-
- 'nN whIlo no, of t20.13l .0o0 was
larv"r hv stlis OnG
AIN u tn" railroads ~ tn. roun.
t'F earned not operating income for
tn" FIRST AK months ~ mo vc1r
equal ~ 60 per cent. not lucluhErC
u'h"r Income
7" issue Nor" rh"n- stock.
American Telephone was selling
around i2c7-s, rs or"nlnr price.
"h'n N" announcement was made
that IN" company was roins 10 or.r
IFS shareholders ,li5 ono ooo wor,l
ci n'w STOCK q, PAR = FOR l. on
this announcement, The urir. brnso
RAPIDLY - llS only recently n s,,h.
SALARY company ~ American To!o-
7hn0" mad" very successful oro--
iug 20 subscribers aud o-rr1ovos az,
i2i 400 h0h sl-2 rc~ con. o-nro-r.r
STOCK ~ par Tho parent rowpauy
row hss outstanding stss 000 Ooo
s'ocf having offered ssro0o oon %
FnHr"ho!d"rs e. par in Nry &C 1921.
To-Day tho directors declared th-c.
qAar'er'" dividends. evidently 10 as
sur" ia" shareholders ;ha, tho rcw
stock would no, cutarger III. div!-
dent PROSPECTS, of ~. outstanding
shares.
Two coal railroads reported earn
!nrs today for August. ontario and
N"S'"rN. which rc'e la-r. p.-
""E'age of its total traffic from an
thr70''c. shows gross ~ sl.l1l. 600.
against Sl.'b5.noo yoar ago. and
net at SALOON rontrasr"d win ssO5
GOO For IN" seven months gross
wae ss.752,o0o against ss.la5. o0o. and
Hct Ssl5,6oO against SSS0.Oo0
Norfolk md Western Gnin..
norfolk and Western. hauliur sor,
coal. reports July gross a. $3.50 Orc
gain - S7G7.0on, and ne, at 50.
i".,oNr, an !nCrcaS" %: $3.50 200 For
the seven months gross was s53.-
h>Hooo an increase Of I.59H. QUO. and
net Sli,ihr0o". a gain ~ SlO.23f. 900.
The seven months surplus. after
fixed charges, was Sl3.22l 900. an in
crease OF $40 2f6 400. /, takes sara.
600 10 pay tn" fun wears dividend
on tho preferred shares This means
that during tho first seven montbs
OF 1929 Norfolk and Western earned
for Is sl2l 100000 common stock 10
per cent.