Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-07
NORFOLK AND WESTERN
AND A. c. |. ADVANCE
Louisville Makes Gain of Ten
Points From Wcdncs-
days Low.
STEEL SHARES hRE ~ DEMAND
July intercst mud Dividend E'snds
Arc FindiDK Their wny Bnck to
Vail street, aud Ersicr Money IL
Predicted.
STEEL SHARES AnE Is DEMAND
Dy IL. l.. IIarnIin,.

NEW YORK. July 6-Thcrs was
good buying Of tho raiin today. sub
et"ntiai gains being shown I'm Bal
tmoro and Ohio, New York Central.
New Haven. Illinois Central. Norfolk
huh Wcstcrn, Great Northern. North
ern Pacific. Southern Pacific, Union
Pacific. Atlantic Coast Line. Louis
WIG. The stock last named was up
ten points from yesterdays low. 1t
has been many a long day since a
tcn-po!nt advance has been expert
chced In " railroad stock ia two days.
steel shares were also In good de-
ntand later in the day. First IL was
predicted that tho untitled order
statement OF the United States Steel
Corporation 10 be issued next Mon
DAY as Of July !. would show an
Increase OF 100000 tons. Only "a few
days ago tho talk here Was that a
email decrease would he reported
IrNi. rumors were heard that within
IN" next few days Attorney General
Hougherty would hand down a
favorable report on the mergers OF
en-" Independent steel companies. and
henc" demonstration In those
shares was due. Next. Secretary
Mellon was quoted here az saying
THAT. in his opinion. the new nscal
SCAR. which began July /. would lie
prosperous one for the business
Ensicr Money Predicted.
July Interest and dividend money
- hndinS it's way back to Wall
street nnd predictions were heard
to-day OF easier money. Banks her.
ana In tne West are reporting con
tlaucd falling IN In !oans This
movement, together with our record
hrcaking gold supply. IS going to
max" easier money. and easier
money Is going TO help business
John Duocc. ot the old Cnicaco-
New York stock exchange frn o.
Schw artz. Dupce & Co died az the
Piaza iotcl here last night. Dune.
Nho was more Than 50 years %, age.
vas tn" originator OF ;he private
Wire business between Chicago and
New YORK. He did more business
than any other ten Chicago stock
exchange frns having FOR his Gus
toners such plunEers as John w
Gates, y q. Reid. W. r. Leeds VII
liam II. and his brother. Jimmie"
Moore That was In the days before
the steel Corporation was formed
making the men named who were
already rich. enormously wealthy
ana Before they deserted Chicago for
Sew York. Dupee was the broker for
the Moor"S At tic time OF the Dia-
mond Match failure That. however
owed him 100000. he quickly
learned, ana IN less time he sen,
them around receipt saying they
owed him nothing
Rails In High Favor.
Railroad stocks are now high in
favor IN Wall Street, ,hc feeling b.-
Ing thar there 30 more room for n
natura! advance in the rail, than in
the industr!als. which, on the aver
Ssc. despite the recent declines are
ht!ll selling less than tHo points be.
low the high for the wear. made on
June ?. Mt 1921 and twenty -eigh,
points above the low made Inst sum
MGR just AZ the end was reached IN
the long period OF business liquida-
ION The rails are only iittcen points
above the low FOR last year. This
81 understood by Wall street TO mean
That. unlike the industrials. the rails
have nor run ahead Of the general
Improvement which has taken place
In general bu.,neas
Some rails are being bought for
their own outlook for better earn
ings and some are being acquired be-
cause OF their interest In other COM
pan!es For example. a stock divi-
oend OF something like 80 per cent
IS expected soon FOR Louisville ana
Nashville. Naturally this Is making
louisville more attractive and like
wise IL is helping Atlantic Coast
Line. which owns majority OF
Louisviilc's outstanding stock Penn
Sylvan!a has been going ahead on its
own Increased earnings. and the
stock IS also being helped by the
very large earnings being reported
by Norfolk and Western. Pennsyl-
vania owning IS per cent OF Nor
fo!k's stock. a number OF other
similar cases might lc mentioned