Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-11-18
MANY new Low MARKS
MADE ON WALL STREET
security Owners Spend Nerve
Hacking Day ms Prices
Go Down.
JAIL FOR RUMoR-s1oNGERs
important Inst. tutions Threaten
Drastic Action Against Those
Spreading False Reports rs to
Their Condition.
ny DRoADAN WALL.

NEW YORK, Nov. 17.-Today's
sssion in the stock market rurn-
.'hcd another nerve racking day for
~ owners OF securities, especially
ine industrials. Quito a number OF
rIw low records were made as a re-
at OF liquidation which broke out
y many directions. Tho only show
"s,strength appeared in the FIRST hour
Den fractional gains were recorded.
fEom then on offerings were heavy
trd AT the expense OF price. The
lJascst quotations were made abou,
teen minutes before the close when
paces showed net losses ranging
sl-ccialties the declines we're larger.
ear the close rally started based
"iE short covering which carried tho
ia!nts above tho lowest. CONFIDENT
Win this rally 81 rumor was circulated
tttat large account had been taken
oyer privately.
Snbin Statement Inter~nta.
.huch attention was paid 10 tho
atemcnts made by Charles H.. Sabia.
il@sidcnt OF the Guaranty Trust Com
p.-py. Every commission and wire
!c-ise sent messages TO their out-of-
own correspondents quoting Mr.. Sa-
n as stating that liquidation had
Hpt proceeded far enough In some di-
ist!ons.
Large houses reported much sell
'uE and buying for taxation purposes
aud thts accounted for the crratIc
drops and rccovcries in some Issues.
AL loans were renewed at 8 per ceE;
IN, by the Kate afternoon the rate
I'D ehsch of To per cent. The lat.
t.r rate. however. failed 10 induce
owing of stocks.
iicacn,mont on tho part OF impor-
ant banking and business interests
aSainst the many ugly reports con-
.'rninS tho nnancia! position Of COM
paaics aud institutions is growing
.lui threats are now being made that
IRE rnmor mongcrs. II caught. VIII
Nr jailed.
Eric sun strong.
strength Of Eric in the face Of tho
-.pernl downward movement was
ArAin attributed TO buying bS Inn
uurtant railroad interests identified
With another company. Very little
.rcdcncc ~ placed ia Tho story that
IN" Canadian Pacific desires control.
tutorcsts identified with the Chicago.
Milwaukee and 81. Paul wcrc believed
'oday TO ne tho probabl. purchasers
as tho two roads could be connected
Continental system from Puget Sound
70 the Atlantic.
Liquidation nigh, have hrcn
greater were II not for the fact that
some OF the large commission houses
Npcr!c need considerable wire
trouble. Al one time not house In
thc Street had Western connections
American International broke four
POINTS TO n new bottom on rumors
That the directors would cut or pass
thc dividend tomorrow. Chandler
was strong In expectation OF dccla,
ration OF the regular dividend aud
knowledge by traders that there lisa
larg. supporting order for stock. OF
a scale down now under the market
The scale down orders begins ~
. l-a. United States industrial alec
hol directors are scheduled TO take
action on the dividend tomorrow.
Gumors have been .hat there would
hc cut.
Benrx Continue Activities.
Professional Bear, traders con-
tinucd TO seek issues in which there
wcrc thin markets. one. soft spot was
uncovered In Famous Players Lasky.
Il broke twelve points and recovered
only one point before the close.
United States food products also Euf-
tered for lack Of protection and lost
:sc points. n
Bargain hunters arc appearing in
ihc street in small numbers. Their
brokers' are advising them to pur-
chasc seasoned dividend paying rail-
road and Industrial issues. They are
being cautioned not to pay those in
dustrials which arc now passing
through their tirst.tcorporata period
Il. Sns,