Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-11-10
OWNERS OF STOCK DUMP
!: SECURITIES ON MARKET
transactions Aggregate 100000
Shares, Reflecting Holders Appre-
hhhsion, Result of DcGation.
EW Low RECORDS MADE
nsHO Decline OF Farm Products
Reduces Purchasing Power of
Tl!crs OF Soil Several Billions Of
Dollars, Affecting All Interests.
NY nI,nApAN WALL.

NEW YORK. Nov. with total
trahsactions amounting to nearly ono
and Ione-hnif millions OF shares the
stot1t market displayed extreme
"sahncss today rejecting tho aprre-.
MANSION entertained on tho part OF
security owners regarding the 1ettn,
Hituation and In the commodity mar
keS,. The weakness was most acute
IN the industrini dephttmen, were
made.
Only once and that was carly In the
forenoon did the market manifest amy
sjXpP OF railying, Dut advantage was
t:tksn OF the strength to put out add.
,ionai atock with tho result tina, tho
c1tirn list turned weak. Shares were
offered ut the expense of price
throughout tho session and the activ
ity tncreascd as prices rccedcd. Weak
nest vas most pronounced in the last
han hour. when tho lowest quotations
IGr the day were made. The market
Closed In the mids, OF the selling
lowest for sthe besHlon. Specialt!cs
hrupped from three TO ten points. the
,nalanan decline In Mexican pc,
two, t2.nts under the previous closing
" I:Eofr,sionIis Pick weak spots.
Professional traders were busy all
day httach!n. the vulnerable spots.
The lower quotations recorded az
result Of their selling brought out
'n3hi5ating by persons who have been
holding sincks which they bought in
commission houses at much higher
ur.1eS Af;er the close or the session
sending out margin calls These re-
:ecs,s for additional margin vii. not
D" answered by many so that nddi::
iionai forced iiquidation Is expected
II s@s beginning o. '0"'FF"*'a ses-
nor err oil II
sterling advanced 4 cents, but prac-
ccai,y no attention vas paid TO ica
'H s;srhcrs who have been predicting
ioN!T prices fer industrial securitice
uctause OF reduced earnings declare
that The market is no" hlscountlng
occurred In rac"n, weeks in the
ductea priceo IN primary markets for
foodstuns. Tho extent 10 which this
appreciation has weakened the pur-
chhsing power OF the tar;ner may be
lransd from the fact that one au-
ihoriiy says the value o. the corn
pared. With last year: tho depreciation
In oats and wheat $1,000. coo 600, and
the cotton crop $3.50, 100000.
Cotton Erop Very Costly.
This authority who lis an EXPERT on
tnoasturs says there never was a
:ots.n CROP that cost SO much to
raise as the one nov coming TO mar
kct: The high costs have been due
70 tire greater amour, OF money that
had TO be paid for labor machinery.
.tSslHSer and land, The South how
.ITtr, is reported tn be borrowing
'Ircns New York banks about 10 per
r'-,t.iess than had been expected
y French frames were. slightly higher
.s'nt'an inte-aationA banker says tho
Quoted tnnrket price for francs must
Keep deci lining AS long IA Germany
,cannot give France gold.
q Southern Pacific was relatively firm
rduring ne sreater part OF business
chut weak" wesksnsa :ia the late dealings
riay with = nct.dccilte or nearly four
points Buying Of tho stock on n
,fcaie down Was said 20 be good hrt
SyIOnt- taking was induced AL the
.pElde- re cedeG IN the late afternoon.
~ one time during the session tho
f.ssue showed n gain az nearly two
points. Tn" street is arEiously wfit-
HES 10 see what the executive com
,c,iit7s VIII! Go at its mecs-ng Thurs
sugar nesI.,er~ Decline.
\ .arop OF nearly four points IN
tnat tho directors would at their
smovt,n. tomorrow. reduce the d.stri-
button 10 shareholders for the quar-
ter.
wnen reading was selling around
100. .Hu effort was made 10 rcaSsure
equation OF report that the insiders
in rA4iding would put the stock TO l03
'in enn. attempt TO revive confidence.
Action OF the ISSUE however In de-
'ciir-nE over SIX points from the top
figure OF the day indicated that the
INSIDERS OF tho company apparently
changed their mind when thny saw
.ta!ncd at much lower prices.