Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-11-27
NORFOLK AND WESTERN
.-.-tEADs R. R. ON EXCHANGE
Upward Movement Caused by Ru-
NOR Of Segregation OF It's Coal
Properties.
TIP FIVE AND HALF POINTS
BuSing Stimulated In Other Coalcrs
on Same Theory - Ono Steel
-, Company Announces Reduction
49,, in Prices.
ny nnOADAy wALL.

80 NEW YORK. Nov. 26.-StOcks con-
.hucd Irregular today with Indus
,r'aiS manifestins tendency to sag.
I'm: irregularity, according TO bank
.iS. reflects tho violent changes that
nave been going on underneath the
stock market which have to Do with
changes that are taking place with
regard to the control OF at least two
motor companies and several Indus
trial concerns. Within the next few
months public announcement will DO
made of changes in the dircctorates
~ these corporations which will in
hlcnte what has been going on the
last two weeks.
The stock market opened steady
cent during tho flrst fifteen minutes
, ~ trading pressure was brought to
=. bear on Mexican petroleum. Sinclair
md Atlantic. Gulf and West Indies.
the balance OF the list which beca me
heavy hetoh. the end Of the first
hour. The market backed and filed
uui.l The fourth hour when railroads
/, forged ahead under Icadcu4shlp OF
,.'t1e coal issues. Norfolk and Western
being the leader. During tho las;
hour the undcrtonc became easier
ana IN" list closed irregular.
90. Steel Prices Reduced.
s..,Nnnopncement OF a reduction IN
-tHel companies resulted In selling Of
the steel shares hut offerings were
Wen absorbed and that group closed
with but slight changes Other in
b dependent companies are expected
''do max. similar reductions.
p Ion" encouraging development was
the reduction BY one large downtown
hank IN its discount rate from Z to
per cent. The president OF this
justitu,lon. which Is one OF the larg-
,S; ANA best progressive banks in tho
downtown district feels that the
'toinmcrcial discount rate of per
cent which the hank has been charr-
,oiHg has been In operation sufficiently
i9hS 10 serve It's purpose In bringing
nhom, M pr"per adjustment of
rate. The head OF this bank feels
',hht this ~ proper and fair course
IN general and further that IL Will
convey to the public mind tho jus,i.
liability OF the progress being made
as a result OF the policy OF the Fed
norHl Reserve Bank.
sinclair ut one time showed n
loss of one point. a total Of about
5000 shares changed hands III two
h"urs within Il range OF one and
There seemed TO be orders on both
"'hies FOR "a special purpose.
Norfolk ~ Western Lends.
Norfolk & Western led the coal
shares !u an upward movement. IL
r!HhnGed four points: and at one
d. h"iI points. Purchases were accom-
+, iAulcd ~ rumors that IL would seq
. !"satc IT'S coal properties. and stimu-
.a'"d hUy!ng of the other coalers on
Tie same theory.
invincihlc OH was heavy. and lost
, more than point, but the directors
~, meet next Wednesday. and issue
- tH.orno!c statement OF earnings
Tor thc ten months. The figures are
tApcgtcd In be n an annua rate
kct price Of the stock.
,'m"ricnn Sugar continued under
r. hErshure. losing nearly three points.
orc trm which has investigated ru-
ailons states Il believes that. not
: Et;hstnnding the backing up or
~ho!ceaie!s on contracts made at
higher price for the commodity.
he company will break even" This
house added that the COMPANY made
months OF the year.
i,umors wcr" AGAIN current--but
/. .Wlih more cnphas is-that the Ma
i'"na' Biscuit financing Is about ready
~ encouragement and that the new
bear liz per cent interest.
fn"rican WOODEN rose two and one
h.ni points. The buying seemed un-
itstra'ncd and closed the issue at
liiC top figure.
for som" strong and definite state-
m"nt from the United states Govern
'"m~nt regarding our policy with re-
F" gard TO Mcxi"o. but certain investors
nj Washington are buying Mexican
Sales Of copper metal mt 13a-t
ccats mound had depressing in
Nnencc on copper shares, Anaconda
and Utah losing more than point
each.