Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-06
SHORT COVERING KEEPS
UP ALL DURING DAY
business Was ON Slight Scale. LESS
Than 250,00O Shares Chang
ing Hands.
STERLING DEALINGS LIGur
Bond Market Irregular - Reading
Stock Most Activc-Atlantic
Gulf and West Indies Financing
Practically Has Been Completed.
BY nnoADAN WALL.

NEW YORK. Feb. 5.-Thc. actual
bank Statement, today showed sur
pits Increased s6.22l.92o. loans in
creased S3.uS5.000 and ne; demand
deposits decreased sS6S,oo0. The
average statement showed surplus
increased S3,33l.25o. loans Increased
Si,25i,000. and net demand deposits
increased Si7,lSl.O UO.
The Federal Reserve Bank showed
ISL per cent. against 1913 per cent,
week ago ratio OF total reserves
10 deposit and Federal reserve note
Liabilities combined 1t also showed
30 per cent. against 36.2 per cent.
OF ratio Of total reserves 10 net de-
posts after dcduc,ing 40 per cent.
gold reserves against Federal re-
serves mote III circulation.
short covering which began ON
Friday continued during the short
session on The Stock Exchange today
and lifted prices slightly Business
was on slight scale. less than Il
quarter Of Il million shares chang
ing hands. Dealings were almost en-
ytrely Tor the account OF professionals
who did not care To remain short
over sunday. Initial prices showed
Fractional Improvement overnight.
After the frs; hour softncss dcycl-
The general market turned strong in
the late trading.
Dealings in sterling exchange were
on very light scale. Quotations
ming OF business. but eased M after
the first hour. There was stcadmcss
toward the close. demand sterling
being unchanged at the end of busl-
ness.
The bond market was Irregular.
Most recent issues. whicn We're con
,sidcrcd - have been placed at Slight.
IS above prices warranted 10y the
were soft.
Reading shares were NEST active
because of announcement IN this col
umn that the segregation plan will he
hlcd with the court on Tuesday and
dispatches from Philadelphia stating
that banking Interests there confirm
ed this statement. Reading second
preferred. which under t.ic charter
OF the compan: may hc retired with
half common and half FIRST preferred
was unusually active ANA more thail
twU points higher
The Atlantic, Gulf and West Thdics
plcted. The company Will take two
bites of the cherry: that is, there
VIII hc two ISSUES Of securities an
nounccd which Will not total more.
mcnt - expected carly ta.s week.
stock OF the company Was slightly
higher yesterday, and the Short in
teresi in the tissue is understood TO
have been materials reduced, as in
Dictated by tn. fact that the premium
for borrowing the stock has d!Sap
peared
Tn. existence O: good short inter
est ia different SpccialticS may Dc
CLEANED from The fact that premiums
are being charged on Sears kuchuck.
Cruciblc and American sugar Gen
eral Motors. General Electric and
American Hide ana Learner prefer
rcd are lending flat.
Reports that Thomas ". Lamont.
Of J. i. Morgan x Co. would 20 70
Mexico ana straightcn out the McXi-
can government debt were RESPONSE
bic for increased activity ana strength
IN National Railways OF Mexico AFc-
point. MIR. Lamont denied in Wash
ington that he had been invited Ito
straightcD cut NcNico's bond affairs.
McNicqn government bonds we're also
active and higher