Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-12-23
RALLY IN LATE DEALS
COVERS EARLY LOSSES
Although New Low Records Are
Nude, General List Develops
Rcsilicncy at Close.
RAILS SHOW SOME STRENGTH
Fact That Steel, Common, Failed
To- Go Below Bottom Price Of
Previous Session Regarded as
Gratifying.
ny nItOADAN MALL


NEW YORK. Dee. :2.--Although
new low records were made today in
many directions. particularly spo-
resilicncy in the afternoon in many
places ana caused "a rally IN the late
dealings that wiped out substan-
VA VA part OF the carly losses and
closed the market with most OF the
ActiV" issues showing fair advances
for the session.
The s'rpngth OF the railroads waB
particularly impressive. Tho quick
ness with which some OF the spc-
clatt!"s recovered also attracted at
icntton aud Indicated that except for
Spnls here and there the general list
technical position.
The fact that steel common failed
I" get below IT'S bottom price Of the
previous session IN the hcav!ncss
that occurred in the carly afternoon
was also gratifying.
shorts Run TO Cover.
Hnp'ts YER run t" co+.r In some
Ieum which advanced Ia the late ar.
i"rnoon nearly five points from IT'S
low Quotation for the day and closed
lnmrhanred. The short in,ercs, in
20 obtain stock except by bidding
Tor the shares.
There are two kinds OF selling
ket hourly. one class represents
mat 10 pay tnHcn aud the other sell
inS for the establishment OF losses.
10 De used Tor income tax purposes
ihcse C!asscs OF selling NUT he con.
ciudcd before the end ol next week
mere mas also been considerable.
selling by PERSONS who desired to
condition.
Those who believe tina, stocks
shoulu DC bought at this time believe
u. weak spots, or air holes" ay
they are described. have been ,.Iin,I-
ar" Tess in evidence because OF the
drastic liquidation which hes taken
niuue. Er. of less importance In the
general situation, CONSIDERABLE. inn
poriance Is being attached. how.yc,
!" the large number OF stocks h.l,,r
Ken oui OF the Street FOR invest
Many I,uyins Outright.
The one fnyorablo factor I'm IA.
va! market was the report by Inrs.
commission houses that bargain hum
''ia 'pht!nuvh 10 purchase yEoc!is
outright with instructions 10 STARE
lhc Enar.s transferred into their own
names aud mailed TO them one OF In.
iHisrA' arms again stated that ,h!s
'id@S 81 uAlncss yesterday exceeded
mat OF Tuesday when all rccnrr. fnr
history w,r: broken.
Ihti 81 u1e selling of RcplSs!e and
NahHu!Im slocls yesterday were at
tfinuteh TO capitalist who acquired
~ !HItrsn, ~ The shares OF thosc
companies subsequent TO the listing
ui those issues on tn. New York
Stock exchange. He is prominent in
society and IA not one of those cap
th!ns Industry who became mil
iiondircs sine" the war
wall street has an idea that a pos
hlble solution of the steady selling
OF southern Pacific stock wnich has
occurred announcement OF the Sc
SrcGation of !is oil lands lies in sales
Inr me account OF the Pennsylvania
railroad Company. On December II
last. the PENNSYLVANIA held s1,753. sac
par OF southern Pacific stock TnIs
"ouiu not b. the Nrst time. In 1919
when Southern Pacific had II SHARP
rise TO lilo il was discovered al the
end OF the year that the holdings ot
the stock In tIc report OF the com
phny showed u shrinkagc Of : ,uCb, Uuu
par. In other words the company
took advantage OF the advance in the
shares 10 dispose OF sS,0O0,UO0 OF the
stock