Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-08
STOCK MARKET REMAINS
VERY QUIET YESTERDAY
ListIcss Manner Continues, Awiny
10 Absence of Public - People
Disirtercstcd In Speculation.
FIRST -FOUR HOURS STRONG
More Than 10 Per Cent of Total
business La AL Stocks Was
transacted in General Motors.
Many Purchases.
BY BItOADAS WALL,

NEW YORK. Fob. THE stock
market continued to move In list
LIS, a'HS manner today, owing to the con
lhued absence Of the public, and the
uhwillingness Of important, interests
- make any new commitments in
thcir respective securities. The dis
,,ihiae,reatcdheSs OF the public in spec
1thtloh ut this time may be CLEANED
rom the fact that the total turn
Dyer on the floor Of the stock cx-
ohhhsc was less than 400. 900 shares
hn,- IN. smallest volume Tor any five
h"ur session since last September
The general list showed strength
unfihs tho nrst hour and gains rang
my from "a fraction to Il fun pDin;
NJ" recorded. Stocks were supplied,
Ho""H"f, IN fair volume on ali adj
f",i"cs. go tia. softncss began 10 d.
N'ipp before noon. Mos, OF the carly
n1inB we're wiped out and replaced
Nhh"d Al tho close
"n3ih"s" in all stocks waS transact
"a ia General Motors. The activity
WIS ~ inc expense OF, price. Tn" is
sur closing with II net loss of one
th' stock were sold The stree, be-
icNcs That tn" selling is for the ac-
'oHht OF the Du pont Securities Cor
p"rd'ion. and represents part of IN.
100000 shares taken over from ~
iHtiht at IA price which. while not
'nlo.Hlly announced. is stated to have
."htIf from ~ 10 $40 share Many
prpt'r purchased General Motors
VIM" burant was tn. head of Tho
corporation, because they believed in
hls dhi!liy TO make money for the
concern They really bought the
brains of burani Sow that he ~
out 81 tn" company they ar" selling
th"ir General Motors. and buying the
Sloch OF his new COMPANY. ana the
fIH' Ht Tour points In Duran' COrrp-
i"ti"n stock on the curb. Tn" CON
ld.ncc people with surplus cash have
M i'Hrant was best illustrated by the
rhpidity WIN which h. raised cap
''A4 10! hiA new company.
Official announce az tho Read
10" SEGREGATION plan is expected to-
MORO" according to persons who
arc usually well Informed regarding
n" rumpauy's affairs IN nnticipt-
ION ~ tho receipt 0C this document.
10" Heading common aud preferred
Nhhr"S wer" active Reading second
preferred touched new hirh record
literally supplied at tn" hiph figures
With tn. rosuli that the early gains
W"r" wiped out tn" second preferred
loHiu= t"o points aud the hrs, pre-
I"ir"f iicRriy that much on the days
business.
call money loaned all day at eight
p"r cent. inh demand Sterling was
slightly higher. Important iuvust-
hi"nt makers do NOT look FOR any
general easing OF so til" cali money
rate. owing 10 The steady contraction
ia the Nolum" Of Federal R"scrv"
notes outstanding There has been
a contraction pi over 100000 400 In
Federal Reserve r"t"s since The peak
Of circulation was reached I'm bccom-
rcr of about S2.iyi.0QG.GO0 This
shrinkae" has been too rapid com
pared with the I.Nhi!nu WHEN has
occurred ia lo!sus throughout the
country during that time
Contraction IN exports may be re-
allied hy the fact that exports Of
cotton Nr.tcr.ay amounted To only.
90 ealcs unsigned to Mexico This
is also partly responsible. for tho
strength Of sterling. there being less
bills coming onto the market