Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-14
STOCK MARKET DEVELOPS
REACT|0NARY TENDENCY
New High Records Made on
Several Issues as SEES
sion Opens.
SOFT COAL SURPLUS Is LARGE
Wiisun d Co.'s Annual Report show.
Operating Loss for 1921 Of SS.iG.,-
""' Against Surplus for 1920 OF
SI,+SJ.UUO.
SOFT COAL SURPLUS Is LARGE
Hy u. J.. Iiarnun,.

NEW YORK. March l3.-Forcign
exchange was weak today AZ n &c
SUI, az the unfavorable new. from
abroad which adds to cngland's
troubles. However. with money
easier this foreign news was ig-
horeh by tn" pools operating In the
Stock Market. n number Of rev high
records FOR the y.a- being mad.
curing the early part of the DAY on
very heavy trading. Later in the
session the mnrkot developed a re-
dictionary tendency.
on" Important news dcvclopmcn,
canc early In the day In the an
nonnccincnt that j. J.. Morgan X co.
heading the syndicate Offering the
flo,eoo.Oo0 French Steel Company
;wcnty-yenr 7I-2 per cen, deb.ntur,s
a, - 10 yield : SO per cent. had
closed tho subscription liz, r. llo.
shortly after IN" opening with tn.
Offering largely ovcrsubscrlbcd Tn.
TACT Mat these foreign industrial
bonds went with a bang Was ac-
c"p,ed In banking circlcs here az
meaning that there would b." NOR.
public offerings of foreign Industrial
bonds This should help our foreign
trade.
Foreign Trnh~ Needs Help
Our foreign trade. like that OF
"ih"r countries, needs all tho hcip
y can get. Today ENGLAND mad" pub
li' her foreign trade FOR February.
Imports amounting 20 fG.3-j 600
compares with f76tss GOA for Jan
NhTE Of tn. year Bnd fss..73 600 ror
FEBRUARY of last year. Exports were
i"H'""''"V" TINS February, against
f53!iG.oo for January Of 1922 and
t'2756.oo0 for February Of 1921
The hcavics; losses iu Februnrv 90.
ports w"r" In coal, iron. steel and
cotton goods. This statement from
England Indicates wha, should be
"'p"rt"d from our own foreign trad.
S'aicmcnt for February. 10 be issued
shortly by Washington
Deny Cut IN Gasoline Prices
Wa. circulation was given today
I" TumorS that the oil co,nuau.es
here were about to star, a prtcn-
cutting warfare In gasoline We'll
posted oil men did no, take ,hexe
rHm"rs seriously. II Was poIut.d
out that this was not tn" time OF
wear 10 start FIGHT in gasoline even
" the oil men wcr" 50 disposed
"hich they ar" not. The announce
"ltHi i"te III IN" day that STANDARD
~ OF INDIANA mad taken advantage
"t IN" Increased spring demand to
rails" gasoline prices ! cen, n gallon
seemed To hear out this viewpoint.
standard OIL ~ Indiana. with us
hrg" territory. taking in more than
70 dozen States. including Michigan
llAno!s and Ohio. controls 20 nc-
cent or the country's Oh demand for
measure and commercial. That
~ much NOR" than IN controlled DO
Any oth"' one standard OIL Company
ana hence the company's prime
move. arc closely watched by o-b.r,
depending on the automobile d-r.,J
~ r"Aection o. real conditions
sinclair and others are in Standard
WI -! Indiana territory but {, &c
understood here that between .uch
rivals 'h"r" IL az close working
agreement as is permitted by law.
M ~ on" OF The strong points
he!nS argued for Sinclair.
Other industries rIuhunp
Friendly rivalry is not being cor
nnrh' either to the oil Industry. I,
- Understood here that when hIds
We're recently requested for III. ~,
rev hudson River bridge win ma
business going 10 Bethlehem. He,b-
!eA"'h officials pointed out In Ste.l
p"fa''"n officials and officials OF
"!"rF competitors that (; had an od
,'"''E" az several dollars a ton on
freight rates; that nih.ra ....,I
com" In II they SO desired ana 80,
II" h"Hn>.' making PROFITS far an
""n5 impossible The orl,. o,hcr ST.,
''."""' according Ia gossip here. y,e
"F on" very small nearby c.n,,o,i
'"r or bethlehem. who was cIy.r =,
sum amount OF the business
dorado Fuel and Iron repnr,s for
gross earnings Of only so7 AZ
'""' against s5l.slo 900 for 1920 III, !
"cncl' after fixed intrrest ,b,r,,a. |
VI F""A GOO. against Il surplus for IN.
""Ni"hs year OF s32l5OO0 A.
dividends. there was d.Gci, Ia,
H'Hf "' *2.7al 900, against n anal
S",ni"s Tor 1929 Of soa.O 900.
Ion COS annual report shows
non ",ne iosS for 1921 o. sS.iC2..
Hl'N"."0", '5,5s3. 600 for 1914 ana &c
"|."n" '"r 1918. Inst wears a,,,
"rct, after preferred dividends wos
v''""n. against deficit Of So.seI
i'I Tor 1920 md anr,,y,, -'N''' !