Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-10-30
MARKET RECEIVERS PO|sE,
Despite HIGH MONEY RATE
freaks Away From Depression
That Has Marked Its Last
Two Sessions.
PETROLEUM SHARES STRONG
reports That Administration In
Near Future Proposes to Recog-
nizo Mexican Government Arc
Reflected In Quotations.
nv BRoADAN WALL.


NEW YORK, Oct. 2s.-Action OF the
took market today In showing
trength during the greater part Of
he session, Indicated that 1t has tenn
ne depressing influence OF 10 per cent
all money. Fieaviness OF stocks dur
ne tho two previous sessions resulted
much short selling and the general
opinion on Thursday was that the
post active issues had been oversold.
advance was accomplish
III largely through the covering Of
hort commitments.
issued by Important transportation
Companies showed mixed results,
ONE properties showing gains and
pliers decreases In net. An attempt
capitalize the uncertain results of
he Increased rates as reelected In tho
eports which came TO hand today
Vas made by the bear element early
n the forenoon and for time tho
| one.
Petroleum, Takes Hisc.
reports, however. that the admin
siration proposes In the Immediate
can government impaired strength
o Southern Pacific and Mexican pc
roieom and this Improvement spread
the balance of the list BY the
middle OF the session an upward
fnovement was in fun giving. In the
kfternoon there was some heoitancy
hear the best figures but In the last
ialf hour the rise was resumed and
Filth gains ranging from fraction
full point In tho standard issues
md hs much az three points In the
Fpecialties.
| per cent. the same figure as on the
previous two days. The rate. how
l'Ver. did not get to 10 per cent until
|,cry late in the afternoon. indicating
hat there was not quite As urgent an
inquiry for funds.
Call OF special mcetinE OF direc-
TORS OF the United Fruit Company
for next Monday furnished the basis
Tor urgent buying Of that issue. in
large extra dividend payable In stock
Or in cash. The extra dividend is
Expected TO be nearer leo per cent
than 80 per cent
Tire Prices 70 he Cut.
United States rubber was easier on
that the company
would on November I reduce the
prices OF Its tire from l-2 on so.
|callcd Ford sizes OF fabric tires TO
fabric tires. with a slightly smaller
reduction on cord tires Solid truck
tires will be Gu; 10 per cent. Tubes
win be reduced Is pc: cent The
Goodyear Co. has reduced prices to
dealers who IN turn are expected to
|benents
Because OF the Increased interest
in coal company and coal-carrying
railroad shares by reason o! the dis
soiution DEGREES handed down by the
supreme Court. the financial district
looks for increased activity in such
issues as soon as segregation plans
row under consideration by the var!-
Gus companies are prepared and
ready for announcement In this
connection rumors have been cur
rent that the market for the stock
|of the Lchigh Coal and Navigation
Company will undoubtedly be trans
terred from Philadelphia to New
York. This company has about 49,
100000 par OF stock outstanding Next
70 Reading tfe Lchish Coal and
Navigation Company Is the largest
owner o! anthracite lands In the
United states.
The railroad lines are leased to the
Jersey Central and owners of the
shares feel confident that ultimately
he railway lines viii be sold to the
Jersey Central ana tina, the latter
vii! sell It's coal properties to the
i.chigh Coal G. Navigation Company.
This would make tho latter company
solely coal concern.