Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-08-08
SURVEY Of COUNTRY
FORECASTS PROSPERITY
continuance of Labor Dis.
,urbancc Only Fly in
Ointment.
srocK TRADING SLOWS Down
urge Market Operators Hold on
fehding Outcome of Negotiations
To Pnt Mrn Back Into Mincs and
shops.
sroCk TRADING SLOWS Down

NEW YORK. Aug T.-There was
nothing exciting In the local market
Today. Trading In stocks was on a
small scale. and little activity Was
noticeable except in Issues which
are supposed To have pool Connec-
IONS. Mos, OF the big tradero arc
our OF town. and those still in tho
city arc not inclined 10 make big
commitments on either side OF the
market for the present. They deyirc
10 await Developments IN both the
coal and rail strikes. Sentiment in
tn" street is cheerful az to tho out
com" Of both controversies Prices
-, general arc firm. and the opinion
~ the trading element Is that the
reading OF the tape forecasts khe ont,
come OF both strikes.
Rail stocks Strung Section.
Railroad stocks were Tho strong
section OF today's market Prices
Continued upward under Leadership
81 tho ow-pr!ced issues. Aa tho day
progressed the advance extended 20
IN" h!gher-priced dividend paying
issues, and before tho close some
NGbstantial gains were recorded In
tnS group. Tho industrials were
more or less Irregular and slugi;ish.
"ithoush: with few exceptions, prices
We're inclined 10 hold their own An
Exception 10 the rule was found I'm
IN" rubhcr-t!re stocks. which were
particularly weak Goodrich ana
United States Rubber were ,uost
prominent. Their weakness extend
ga TO some az the motors. Copper
hcid firm. and man. new high rec
"'os Tor the year were established
among the epcc !altlcs.
Money started the day easy n,
81 per cent for removals and new
loans The foreign exchange mar
ret was quiet. du. mainly 20 tho
~ cak In cable connections between
this country and England. The
ho!!day In England also WAS a factor.
Mnii-ordrr Stocks Feature.
mai!-order and strictly m"rcunt!lo
stocks attracted much attention In
me stock market today, aa they have
done for week or more Wool
worth and Sears Eochuck were IN.
features. tho former advancing 10 a
new h!gh record. O,hcrs. such n.
Montgomery Ward. also were promi.
mont The rise in these stoCka Is
based upon rcDorie that business
curing the last half OF the year VIII
Tar exceed that of the n-st 81.
months. in the case o. The mali
order houses. tho improved outlook
Tor crops Is the controlling ;nnuenc.
as Dig demands are expected from
me rural sections ns soon as these
pcg!n to move to market
another group which has been
prominent OF late and which Is ex-
pHcted to continue In the forefront,
Tor some time IL the sugar stocks.
WIN the recent sharp rlso I'm tho
price OF refined and raw sugars 10
new nigh records for tho year. III.
sugar companies have been ngain
placed on their fec, and in a fairly
htron. position.
Expect lIonus Hond Innux
\ Hood Of new soldier bonus bonds
* expected 70 be placed upon the
market as soon as some definite stand
Is taken by Congress. on what 10 TO be
done In making "a distribution 10 the
war veterans According TO tho bond
buyer the sale OF such bonds on he
half OF tho various States IS far from
completed. IT is pointed out tina,
Thirteen states have thus far sold
$iIi.0o0.000 o: such bonds ana tina,
total OF Sl7O.OOO, 600 IS SIN p.nd
.nS Most OF the States. however,
arc awaiting developments from tho
Fedora! government
With the railroad union chiefs NJ
Ing all sorts OF charges and the rail
road executive Ming counter charges
the situation In the railroad
strike at the present time does
not look very promising. The gen
eral opinion In the financial district
here. however. Is that some sort OF n
settlement viii he made within the
near future and that IL will be In
the nature OF "a compromise, with
both sides agreeing TO concessions
Buniness Conditions Sound.
a survey OF industrial and business
l>s:ders In all sections of the country
carried on By local interests indi-
Gates that conditions In most indus
tries arc sound. and that a prosperous
autumn trade Will be witnessed I'm
this country. Continuance OF the
railroad and coal strikes. however.
VIII upset these predictions, bur IL is
assumed that both controversies Will
hn settled before very long The coal
and rail troubles. 1t is said. has
greatly impended the healthy recovery
in trade which was we'll on tho way
TO near boom when tho str!kes
were called. Neither, however, have