Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-10-15
WALL STREET WITNESSES
(. one OF WIDEST SESSIONS
; Opening Was Firm, With Some
= Prices Showing Material Gains,
but Losses Come Quickly.
. VIOLENT ADVANCE is MADE
Quotations Arc Carried Upwar,;
From Five to Eighteen and On,
Half Points, but Hall In Late
Trading, Making Average Low.
ny BROADAN NALL

NEW YORK. Oct 1.-THE widest
stock market session OF the year was
seen in wall Street today. The OMEN
ing was firm with some prices showinc
material gains. wi, lin an hour losses
mad been recorded as measured from
thren price OF inc morning Of from
". r 70 more than twelve points
"Thcn' after brief period of quiet,
came violent advance that carried
a ainn up hve. ten. and in one case
latc trading prices fell suddenly again
80 That the average was lower than
me price OF tie morning. Very ma
,n. MAJ iari, net losses were recorded in a
me bottom with market weak and
active.
Three Causes OF Upronr
Ihree causes contributed TO the up-
foar The irst was the Presidents
condition. The second cause was the
by the President. will dissolve without,
doing anything. Tlird. It was miser-
able weather in the street and the
nasHr. Is So iaTse,y professional that
them s1 in pcss!mistic state Of
So when a few daring raiders at
lacked the market II yielded easily
The carly raid was followed by a Gov
trins movement that frightened tho
prime movers, and forced them 10 cover
,nc,s own contracts. In tho afternoon
call money rate went up to Is per CEN;
eng t>ese traders. smartinE from the
uefeRt Of the morning made another
Sicious attack just before the close
me waldorf crowd ~as In leadership
or this raid and so timed /, that the
cong stopped business when they had
sold all tho stocks they dared They
stand heavily short overnight, hoping
develops, and especially il some I'M
herstandabic report comes from the
bedside Of the President these raide.n
VIII md themselves In a serious pc
dicamcnt when business Is resumed
tomorrow morning.
Alcohol Hest Actor.
Industrial Alcohol was the beg. ac
tor or the list In the morning when
ctc7ythin- vas crumblins, this stock
yielded only two and onc-half points
IN TIC face OF declines elsewhere il
men began advancing and did not stop
until ii had moved thirteen ana one
half points from the bottom, thus
a ., new high record It
they were running into trouble with
their short sales. 1t saved the day.
TIE next line OF defense was In the
tobacco shares. which held remark
ABLY strong during the entire session
tctai stores had an extreme swing of
less tnan three points. The buying in
this and In associated stocks was Of
the best character. These stocks were
70 strong ,ha, they wero selected FOR
attack by the professionals w-lo made
the raid IN tho last few minutes Of
the day. The stock thus sold was we'll
bought.
-Four Big Sensations.
General Motors and Mexican Pctro-
lcum. Studebakcr and Chandler fur
niShcd the four big sensations OF the
session. General Motors began with :,
break OF twelve and onc-half points
advanced eighteen and one-half. broke
eleven and three-fourtls and advanced
ono and thrcc-fourths. II closed, after
All these moves. with net loss OF
four points. Mexican Petroleum had