Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-12-07
MARKET BREAKS UNDER
RAID BY PROFESSIONALS
spcciaities Decline as Much as
Ten rolnts-Fcw Gains
Registered.
STANDARD SHARES ARE FIRM,
Dissolution Of Lchigh Valley Rail-
road and Coal Interests Causes
!. Loss-i'Idcal Segregation Plans"
!, Being Watched.
nY ultnAnAN MALI.

/ NEW YORK. Dee G.-Professional
Traders raided specialtiee today and
uncovered rev thin spots through
which they broke and caused sharp
icccssions. unscttling the balance OF
thc stock market. Declines ranged
from one to Two points in the stand
ara issues and az much as ten points
IN the specialties. There were Il few
iapiated gains scattered throughout
ISSUES and made during the carly part
OF the session when the market was
Mexican Petroleum was the instru-
lnent with which the professionals
dealt their attack on the list. Early
m the session this issue advanced TO
the new high price Of lS4 l-2. which
was four and one half points over the
previous closing. and about thirty
low price made during the November
break rrohi-iaking Developed al
sethcr with short sales Tor the, ac-
count Of professionals. resulted in
pronounced weakness. causing a drop
pest quotations. a break OF more
than hye POINTS In American, Aeri-
t CYAN fou T"i pDS;s ia ns9n @9
and a depreciation Of more than four
points In Atlantic QUIZ ana West In
iis, Decline OF u. S. Food Products
Of more than four points also con-
trihuted TO the apprehension reflected
IN price fluctuations.
display any pronounced weakness.
Continued Offering OF Southern pa
Dent. but persons who purchased the
stock on advance knowledge OF the
company's intention to distribute It's
oil holdinBB by the sale OF Pacific oil
stock stun have substantial paper
prohts u they have not already turned
tnehed n eS:" low s@4'hS S9 ,o raG ,h;s
movement. which Is more than sixteen
points under the high level reached
AT about the time the company am
its oil lands and stock of the Assu-
ciatcd on Company. steel common,
ancc around the low ngure In fact.
all the standard rails and iudustr!dls
exhibited resistance.
financial district the last two days
tina, the Texas Pacific Coal and OIL
Company had bought in nc" well
IN Texas at about The 5.0oo-toot level.
IL so. the management haa no know!-
edge OF II. Negotiations are. how
eyer. being conducted between the
Oh whereby the Texas Pacific might
acqu!r" an incercs, In the Trsrscon-
!!in.n,ais pipe line and refinery at
been concluded. so that II canno, be
said whether the deal viii go through
or not. Beth stocks did very lt,l.
on the exchange.
Attention was directed 10 the plans
being made by al-carrying roads
for the segregation of their coal prop
critics by the decision OF the United
States Supreme Court that tho LchiEh
Na!ley Railroad coal combine was u
violation Of the law. lchlgh Valley
rose three points after the announce
ment. hut quickly lost the improve
ment. Reading rallied f""b!y, but
closed with a net loss 81 more than
three points.
Insiders OF the Collaborating rail-
roads are watching the stock cf one
lat n "a, >,
dor the segregation or It's coal prop
!. critics. the provisions OF which. ac-
cnrdinS 10 experts. should mean much
. higher pr!cns for tho company's
' shares. ~ Is considered "a an Ideal
. segregation pinn. AParIni .si on 10 use
the name OF tho property. which is
v considered ono or the best, will un-
doubtcd!y be given within forty-c!ght
= hours.