Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-05-04
FROM z TO 9-PO|NT
ADVANCES ESTABLISHED
Associated in Lead; Jumps
From 126 to 1874 1.2
Without Hating.
CONSIDERABLE PROFIT TAKING
Higher Prices Arc Expected Before
the Close OF the Week--Tradfng
In the bond Market Is Light. but
n Number OF New Offerings Made.
by Il. l.. Bnrnum.


NEW YORK. May S.--For time
today IL looked like the specializing
public was going oil crazy as II
has done many times before. both
here and AZ London. on the Stock
Exchange and on the Curb the mar
ket for oils fairly boiled advances
or from two to nine points being
established before noon under the
leadership Of Associated. which sold
Yesterday at ile. closed at 12s and
!'Imncd IN today withou; halting TO
iS4 IL STANDARD oil. OF New Jersey.
California New York and Indiana,
we're especially strong, along with
Pacific oil. Houston. California Pc
;rolcum.
Standard oil. OF New Jersey. Of
Indiana. OF California. are the three
best bets OF the Standard Oil yroup.
M! three OF these companies ac-
c"raihe 10 runors. are thinking of
declaring stock dividends 10 dis;rib-
ute accumulated earnings. Then nil
or the oil companies, which bought
and stored crude ?; least years low
prices. now EXPECT 10 advance prices
ana thus cash in. And az crude ad-
vances. the prices OF finished prod
nc's advance automatically.
Considerable Profile Taking.
While oils wcro advancing. there
was considerable prof; taking In in
dustrials, Then when the industrials
We're weakest the rails We're taken
In hand and given a whirl. Higher
prices ar" expected before the close
Of the week. Nevertheless. all of
tn. signs Indicate that distribution
now Is going ON. more stock being
sold each day by the big interests
than is being bought. Unless some
a..
Ret would not stand such profit TAX
ing.
Trading in the Bond Market was
Iight. But number of new offerings
were mad" all OF them gong we'll
and indicating there is stu a large
fund Of idl" money awaiting invest
ment The books for the sa5. 600 600
facih" Telephone thirty years. is
""rr"" on a 80 basis. were opened
az !" o'clock and Immediately closed
ne city OF Wilmington 4i-2s
brought ont on al basis and She city
"' Providence IS offered at 100 or on
per cont basis also went we'll
The hooks OF the twen,y-ycar Cana.
ga Steamship first mortgage IS Of
icrcd on I3-S per cent basis wcr.
quickly closed This company owns
hihe,N-siN ships. terminals docks
Warehouses at fifteen points between
Quebec and Fort William at the he,b
"' IN" G"rat Lakes. which. with tho
- Lawrence River. forms an in
."hn wafer way connecting the grain
"'I""''he territory with the trans
atlantic trade routes and Eastern
manuf1 rturers with western cnn'
SumcrS ~
Aut" Industry Gains.
H"i"h"hilc manufacturers ,urninr
""' 70 per cent OF the countries rars
p'""uccd in April @i3 Ooo cars ana
'fuckS, according to figures ,,iya,
|ut today by the National Au,nmo.
n!e chamber Of Commerce. This is
an iHcr"aS" Of 81 per cent over A,ril
, a., Ear. any gain OF - per cen,
"i March az this wear
Steel mills having con, t
II" Conncllvine ds,rir, ,r. :"
gently going TO allow tho si,,,,,
7" Hrni until the striking mines
erect % return to work IN. 49,,
80 says today. Iron and s,..,
""O''"h IN western Pennsvlyani,
eastern OH" has been slowed ,a,
S"me by the coal strike. As whni
,'""'Esr me Industry is giving ahea,
''fh"'S steel plant o, the Srooi
ION no" operating AZ Sc nor
i,dac y WITH tw" leading
N''''S' IIftnE The "a
M"|N as was shipped ou,. proh,,
non OF pig iron in April sbn..
ner substantial gain the nrurc. w.
'"E -"'@.lli tons or s90-o
aHainS, IN March. aS.2l4 fo, ".'H
in'y "a.o"& for January. e1sss
!ast July "a; the low Level 10Y
"fur-S show thar co,,,o
800 800 i.nanc'ne for Apru rc,r,',
&C., '",oo9 against s2Sl.l5. o0n tor
Matea and si2s."7so0o for ,r,, 'of
rs, year. Public utilities, whio 81
seems to have to have 49, whiGh
C coo headed the lis, wiz I'm, me
Havana dispatches reDor. ,,,,
result Of an-day and nay a.
|Dnitfenc%s between large h. "'s III
interests ana the larr. ,. .n ny
81 II. tnrnann & Co tho p S.,,,.
"'rman banking firm ,ba, "n"u
,,i,i ~ n"ors YESTERDAY ma,
NJ resume business ,oror, "' nrm
IMAM hanks have agreed "W w. Ihe
Nan'" $4,000 600 ana NOR 10 ad-
u '"e !aFre depoS.tors ., ,.,'
ave agreed to suppor, - imam
,ahs d@vlsed by ,he banEo, eS.Ne
@ r"nd OF the cuban st,,a,I Tor
DnN-T ----