Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-02
INVESTORS SEE LABOR
TROUBLES ENDED soon
Siudcbakcr, Mexican PctrOlc-
UNI, Steel Common Are Cen
ter of Attention.
MhH.-ORDER BUSINESS GROWS
Merger Steel stocks Unaffected by
Views of Federal Complaint Against
Midrnlc. Republic mud Inland.
Won't Anect PInns.

by IL. ]. Iiurnuni.

.NfsN loJsh. sept L. mere Was
virtually no interruption to the up
ward movement Of stock prices in
general today. and on active dealings
many new high records for tho year
were again established Oils motors
coppers. steeis and speciaiti"s were
in urgent demand. Some OF the buy
ing was due 10 short covering, but
much OF II came from investors aud
traders who believe that the labor
trouble VIII be finally settled over the
week end and that after the Labor
Day holiday the market viii he free.
- advance in connection with gen
cral Improvement ia business and
Increased movements 81 ucryhHudis.
expected as coal supplies approach
normal. Wall street always predicts
an advarc" in stock prices after La
Dor Day because OF the crop move
nent and usual antumuaI demands
for merchandise ana materials Some
times these predictions inatcrialize.
what the market VIII actually do
time alone Will tell. but most trad
crs feel confident that the advance
VIII continue
studrbukcr Active.
stocks which attracted attention
because OF their unusual gains today
included S,udcbaker. Mexican Pc
troleum, steel common. General ~
pnalt and numerous spcculatlv" Ia
vorites. The declines in Eric. 81
Paul and other luw-pr!Ced rails MAS
attributed directly to bear raids by
traders taking advantage OF tn. Al
ton affair. This selling had no cf-
fec, on tho general list. y large
snort interest exists In the motors.
the selling having been based on
the usual seasonal falling OF in
M. t.. Il.
ever, predict the most active autumn
In their history.
Merger steel stocks were unaffected
by the news from Washington Ia
the effect that the Federal Trade
Commission has issued complain,
against the thr.e-company merger
involving Midvalc. Republic and In
land. Several days ago these stocks
broke sharply on rumOrs tina, such
n complaint would he made. but a
swift recovery followed limitations
that the complaint would not affect
the plans OF the sponsors for such
combination.
Directors OF standard OIL, OF Ken
,ucky increased the aunuul dividend
on ncw stock from 81 TO 50 share
by declaring quarterly dividend OF
Sl.25 share against previous pay
meut o; 81. The president of the
company says improved earnings war
rant Il higher dividend ana number
II stockholders greatly increased, re
splt Of recent splitting up OF stock
into shares OF &25 par value.
Montgomery Ward Sales Grow.
Montgomery Ward ~ Co, reports
gross sales OF $3.50 900 for August
ueains, $5.ts3,tl3 ia Same month
last year and I52 600 600 for cirh,
months against Sif.o0O.ooo, same
period 1921 The recovery or the
mail-order business since January l.
1922 has been remarkable. due Ia
Improvement in agricultural districts
Railroads OF the country continue
TO place large orders for new equip
ment to replace bad order trains and
cars. The Pennsylvania IS reported
10 have placed an order for leo loco
motives with the Baldwin works. this
being the largest locomotive order
placed this year. The Chicago and
Eorthwcsto-n also placed an order
Tor atty locomotives with The Amer
lean Locomotive Company.
Steel prices continue TO mount up-
ward as result Of recent advances ~
wages and higher fuel costs. iNcrag.
price OF eight leading products a.
Thursday closing was S5l35 against
S5l.0i last week. and $i2l2 ton
in February. the low point this year
and the lowest reached following
the dchationary movement in stee
prices which started in August. 1920
The peak price in 1929 was Ss5.03 L
ton ON August 3 The average foI
the thirteen years prior 10 ihat was
l30l-l3. S37.ll.