Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-11-27
|RUMORS OF DISCIPLINE
AGAIN SCARES MARKET
Final Prices on Some Issues Were
Considerable Above Worst of
The Day.
FUNDAMENTAL NEWS
Owing to Holiday There Was Much
Liquidation by Persons Who Had
Bought the Market FOR Turn.
- Short Selling Increased.
ny nRO,nA\ At.

III bRoNbtN w W.T.
NEW YORK NOV .6-Sto>kS closed
Flower today and the losses Mere ma
atcrial in a few issues. hut me maj
prices were consiierabiy sboNe ms
Street talked OF The Mexican situation
tas the cause OF the selling OF stocks
but the real cause wAS ano,ht7 fHmor
that the FEEDERS Reserve Bank m
tends 10 discipline the loan NArkst
aEain-not the Nail street loan mar
ket. but the commodity marNci tn"'
what Wail street has demanded should
be done as = matter OF tSlr play. There
fore. the fundame";"l news OF me
day was hUiliSh on ,h" stoCN marNvt
rather than hearish y the MeNitAn
situation is market factor =; all Il
lis a bullish one. OWING T." the, hoii-
by persons who aad noG2 n ne mar.
kct for u turn pu; the Shor; se--n&
~ Full Of weak >hert>
The rnarkc; : nov - syn 81 yeas
short accounts - II WAS OF weak long
accounts TWO weeks ago Nobody ia
tion will reach is crisis =; tAls TIME.
and. <hereiore. when The traders come
70 Wall Street Friday and find the
world still running - - usual * :
quite likely that they vii Tee. them
( selves compelled 10 cover their con
In other words. .ae technical, coudi-
ton is stronger t6su before Huyiuc
OF steel tcGsE attracted wGC1 Jtt"r-
ton. there seemed -p ne very !hrEH
orders On scale DOWN. The >tocN Welded
"A little NOR. than q 0o-Ut when me
TaCkct UaS h"SNic>t eu, T. came oark
with the same HsaNN o.El"E I" tN'-
deRce There : 20 doubt that iarss
short i1tcreS; ia STEEL hiss been ou:I;
up because ;ha: stoeN has no, broken.
and thousands az investors nave sod
ii as hedge against investments tAey
did not wen; - DISPOSE Of. In talt-
steel ac:S as though ihsrs may nr
some news q Importance about ready
20 be made public IN connscifon w.;h
Auto Share. Disturbing Factor.
General Motors auG Pierce \rToW were
disturbing factors, hoth suffering s.
lower The advances IN both o. these
were largely speculAiiNc. bu; back o.
both advances was and stla remains
the important factor ,ha: Tho moor
Industry is Just a. the beginning OF lis
greatest period Of prosperity me
Stocks were travelling just i.tilc too
fast that was all
The tobacco stocks behaved well. and
the street is beginning 20 realize ihat
the srea, reoreanization OF the indus
try has less to do with the stock mar
kct than l. has 10 do with the phyS.-
cal handling Of the ..ommo1dtty
fractions mt LOW Levels.
The local fractions hit low levels
again. The fact that bonds are a. such
extremely low Levels is creating much
depression in the Street. but tina, very
depression is driving the investors OUT
4 OF bonds into stocks. where they hope
10 have a speculative chance TO in
crease their principal. Tina, is one OF
the important factors which must be
taken into nSideratlon in discussion
& OF stocks, and particularly common
h stocks. for preferred issues are acting
Y Tha, the leaders in finance thinl
( liquidation has gone far enough a
the. moment is proved by their plans
portant 'otation viii be announce,
81 next week.