Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-06
ANOTHER MILLION SHARE
DAY ON STOCK EXCHANGE
Baldwin, Vanadium, b. & o.
and Pennsylvania Touch
New Marks.
RAILROAD HIYING IMPROVES
Inquiries Arc I'm the Market for mo
Locomotives With 34.OOO E,rct,ht
Cars Already Ordercd-StecI ~,
look bright.
RAILROAD HUYING IMPROVES
ny IL. l.. Barnum,

another Million-share day on tho
stock exchange with new high rec
ords for tho year being made in
i BALDWIN, Nanadium. Allied Chemical
Chandler. New York Air Brake. BAL
timorc and Ohio, Pennsylvania. Royal
Dutch and n number OF other shares
For tfty shares another new high
record for the year was made. How
ever. the market whole WAS not
as active or as broad as yesterday
or Monday.
whether or not the public is in the
stock market. one through inquiries
at commission houses in general, the
other through inquiries at houses
specializing in odd-lots. Houses in
both classes. especially the one last
named. reported today in answer to
direct questions that for the past
two months their business had hccn
ladually increasing. The consensus
OF opinion seemed to be that while
the stock market had had a substan-
tial advance stocks were still held
in strong hands. the public interest
yet not being large enough to
create technical weakness.
steel Trade Improves.
steel trade enters the second
quarter Of the year under conditions
pointing strongly to continuance OF
that has been pronounced since
early March. the Iron Age says to-
day in it's weekly review. The steel
corporation is running ut slightly
over 20 per cent Of capacity with the
independents slightly under 90, 1t Is
reported with the indications that
this output can ne continued for at
least several weeks. Railroad and
structural buying has improved with
orders in other lines now taking
wider range. Jobbcrs have begun
to stock up. Inquiries ar" in the
market for 800 locomotives Win me
freight cars already ordered 3io""
mr. opobalf more than for tho whole
OF 1921.
The foregoing figures for freight
cars do not include orders for l?.o"o
cars placed or about 10 be placed by
The New York Central. IL is under
stood that standard steel Car VIII
yet 800 American Car and Fonn-
dry $500. Pressed steel car "'oo"
Pullman 25oO. American Tank Car
nco RnlSton steel car 500. Ii is ais"
understood that bids were some time
ago ur when prices for steel wer,
considerably lower
NccdiuE equipment the railroads
are almost certain from nov ON I"
jumn into the market and bid M
priccs against themselves as they al
ways In tn. past have.
H. VI. Declares dividend.
pcrc Marquette directors have de-
cIarcd dividend Of % per cent ON
the cumulative ; per cent preferred
stock for four months and ! per cent
on account OF back dividends.
Remington Typewriter reports for
1921 earnings of s93?.000. against
S3.3iO.0O0 for 1920 Inventory adj
iustmcnts were s3,ls5.00o. against
Sl.3lS.C00 With the preferred divi-
s!9i 900 last year, there WAS n final
dcfici, for 1927 of S3.o4l.0oO. against
surplus for 1920 OF $4,000. The
pront and loss surplus is now S3.Si3.-
coo against S6.SSI.O00 year ago.
New companies with capitalization
OF SluO.OG0 or more formed in March
numbered 937. with total capitaliza-
ton Of 3i.SG6,00O. This compares
with $asl.Oooooa for February. s2Sl.-
c0Ooco the low. .nars'' of last July.
and with sH5i 0Oo.o9e in March Of
1871
- Union workers in mems clothinE;
at Chicago. numbering iO.0oe. have
agreed 10 u 10 pcr cent cut in wages
with notifications in working rules
looking toward greater efficiency.
Leaders o: the striking New Eng
land textile work have yielded ON
the closed shop question aEr"circ:
To ucg"t!at" with that point omitted.
Wall stree; believes that the in
Nitat"n just sent out by Congress
Ia representatives OF coal operators
and miners to attend conference
for the purpose Of adjusting the wage
question, were sent hecaus. such IA
request was made directly or in
directly ny the mine leaders. The
feeling here is that Congress had
letter keep its hand off as the gov
eminent decided 10 do after an in
G,.F. IT,.
who acts for the government in all
serious labor problems This is tn.
coal situation In "a nutshell, as Wall
street understands 1t. AS a result
or "Ncr-eNpansion in war times there
are too many coal mines for domcs-
tic consumption and our lost coal ex-
poI7S canno, IL" recovered unless
wages and freight rates arc reduced
"fIc'cr Ad,rrtisfng."
Wide publicity was given here to
todayS announcement that New
York investment house was about to
make the hrst public Offering of Ger
man bonds In this country since tho
war. INC Offering 10 be part Of a 90
Vpo'ptn mark issue bearing : per
cent some az the bonds having al
ready been sold in Switzerland. uor-
land Spain. south America The
marE"i for MARKS Was closely watch
ed b. some, 10 SOC II there would Ice /
new loan What happened was tina,
marks "ucncd at o032 Of cent and
then dropped 10 .OO3l l." II, is ne,
another illustration Of clever advcr-
Using and eullible public" a foreign
exchange broker said. adding. what
does loan az 0c.Oou.gOU mark.
mean Around the present uuoi.tinn
mat would be IN our money only
$4,000 Including tn, mafks is
sued by all German banks there are
now outstanding roughly 225.OOOnn
90 marks il is likely that the mar
het ioI ms great mass Of marks
would be supported 10 raise s3aU-
coo Moreover. the loan is not a gov
eminent one, but one secured by de-
post OF preferred stocks Of German
Industrial companies. AZ Il first mage
story for the papers, IL may make
good reading. but new loan OF 4s-
100000 marks, the way money is
talked today. Is not flea bite"
Durant Motors issued < staten.n,
or Its condition today, az ~ March
81. Total assets amounted to s33.
1873. 1000. in Guiding $3.O2s. 900 caeh