Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-11-02
ELECTION FAILS TO HALT
markets ] UPWARD TREND
Close Is Active and Strong and
Prices Near Best of
Season.
COPPER ISSUES GOING WELL.
Big Sale OF Metal TO Germany Is
Reported Without Confirmation,
but Rumor Has Marked Effect on
Shares.
ny BnoADAN WALL.

NEW YORK. Nov. 1.--Durins tn"
: nrst half-hour of tho session toda y
ness in United States Rubber. which
touched 4 new low level for this
movement. Royal Dutch also con-
,,naed TO reflect selling by Holland
investors. southern Pacific and steel
+. were features OF strength through
out the session. Toward noon Tho
general list became strong and i'm
per issues. Southern Pacific led the
ratiroad group and rose TO q new
high level. There was some profit
taxing, IN the last hour. but thu mar.
ket closed active and strong and
near the best prices.
Cali money opened and renewed at
per cent. with the rate rising to
10 per cent within fifteen minutes
Srnmcnt will withdraw sS,o00.000
Wednesday from the banks in the
Second Federal Reserve District and
Following Wednesdays withdrawals
the. government will have left on de-
post in the Second Federal Reserve
! District approximately SlI,o00,0Oo.
81 Much Copper for Germany.
Eumors were current that the
American Smelling and Refining Com
any and the Anaconda Copper Mining
Company had sold total of 100000
ne0ipounds OF copper to Germany. The
metal was declared to have been sold
through the Copper Export Associa-
tion with payment TO be made in i2o
days. Simon II. GuESenheim. who re-
Gently returned from Europe. is UNI
derstood to have received the order.
No confirmation or denial of the re-
port could be obtained AZ the offices
OF tho American Smelling and REIN
ing Company. Although lacking con-
irmat:on, the story had the effect
of impartinS strength to the copper
shares
Seneca Copper continued the leader
.Nf l,sE MI - nn
high record OF 20 l-2, where it closed.
The per cent basis of the company
Oh the curb advanced six points 10
The new top of lo1. These bonds are
x Copper was also in better inquiry
and closed with n net gain OF nearly
two points. Anaconda. American
.Smeltins and ReiininG ana lnspiFa-
Pny 100 Per Cent Stock Dividend.
Directors of the United Fruit Com
pany met and declared a 100 per
! cent dividend payable in stock and
,luction in the dividend from II TO
an per cent basis. The size of the
dividend was in line with eSpecta-
lions and as soon as it was an
nounced quite n number OF traders
Immediately went short OF the issue
on the theory that the stock was sell
ing too high. The issue closed with
Expectations that the United States
government will recognize Mexico
continued to inspire activity and
strength in National Railways of
Mexico secorxi preferred. Mexican
petroleum showed n gain at one time
of more than point. but lost the
betterment in the afternoon. United
states OF Mexico SIS were actively
dealt in, a fair volume of the offer
imgs being for foreign account.
Rubbar Under Pressure.
United States Rubber was under
further pressure early in the day and
Tho price declined to slightly under
10. at which level 1t showed loss
of'about two points from the previous
closing. rs,
playcd Il resistance so that in the
AFTERNOON it recovered nearly all the
Liberal off >>inEs were again made
OF international Paper. which at one
Time showed Il loss of ABOUT Two
uoints. hut closed with only Il frac-
t!onal ne, decline. Weakness n4,sS Vas a., cue iMS
10 further reductions repottcu IN W.
prices by foreign interests Tor news
print.