Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-12-22
MANY SHARES SOLD IN
FIRST HOUR OF TRADING
General Electric Is Weakest
of the IIigh-Priccd
Industrials.
ALL THE RAILS HOLD STEADY
signs That the NOnd Market iins
IiccR Going II Little Too Fast Are
Approximately. D" ~ W. Directors
Meet Neat Tuesday.
ALI THE RAILS HOLD STEADY

NEW YORK. Dec. 21.-A lot of
people seemed anxious to sell stocks
during the first hour today. trans
actions for that period footing up
100000 sharcs. the frat time the
100000 marx has been reached for
ANY hour this week. Yesterdays first
hour sales were $4,000 shares.
While more stock changed hands to-
day on the decline than during any
recent downward price movement.
there was no bear leadership which
traders seemed willing TO follow.
The market at times looked tired, hut
4, was never weak. Pools wording
for higher prices Withdrew buying
orders on the outlook for further
saEging. General Electric was the
weakest Of the high priced in
dusirihls ceiling or three points np
I" noon. American Sugar also was
soft. partly on further rumors o.
financing to take care OF the existing
requirements partly ON II further cut
In the price OF sugar To cents and
partly on the very poor earnings
statement published by another sugar
company. The rails held steady. Oils
were soft.
From reliable sources Il was
learned today that only TWO OF the
- twelve producing pools In the Mcxi-
can petroleum territory were not ar
icctcd By salt water. These pools
are In narrow stretch from one
third or Il mile to u mile Wild. and
from forty to afty miles long. High
mountains arc on both Sides OF This
forty TO nfty rr.ilc stretch which has
developed the great Mexican oil pro-
ducing clds. which have been worked
~ three companies: Mckicun Pc
mol
national Petroleum Company OF
Maine. All OF these companies have
other large Mexican land holdings TO
be developed.
Rccri,crs Appointed.
Gross earnings OF the Guantanamo
Sugar Company FOR the year ending
September 30. published today, show
S2s55,06o against $7.s+7.o00 for the
previous year. After depreciation
there WAS a deficit this year OF s9ls.-
600 against last years surplus OF
SiSi0ooo. which was equal TO ssl3
"a share on the stock
Rcceivcrs were appointed today for
The Aluminium Manufacturing Com
rhny II has assets OF Sl,o7l. oao
with liabilities of $4,000.
signs that the bond market has
be.n going little too fast are an
49, ms ihFtators are no longer
sha'chlnS the new issues. In fact.
TWO OF III" las, large issues arc
dragging. The income return seem.
to be TOO low for the rest Of the
market. II rc-discount rates ar.
lowered doubtl.ss there VIII! he an.
other upward swing IN bond nrica.
as soon as the many recent new is
SITES are marketed.
Operations OF the steel cornor,-
t!"n III the Pittsburgh district ybtch
We're recently as high as - per cent
OF capacity. have dropped 10 a. per
cent according To iodnys weekly
IeE!ew OF the iron and steel market.
WIN operations OF the ind,.p,udcn, <
down to 80 per cent. Uncertaintv
over prices with the trend down
ward Is reported, Now producers
say they are not concerned over m.
hlachen!nH demand looking on ;his
situation as meaning that the stocks
down there Viii b. heavier buying
alter the turn of the year.
ID. j.. ~ W. Directors TO Meet
Delaware. i.ackawanna and Western
directors VIII meet next Tuesday,
and Wall Street expects the results
VIII he an extra dividend.
boston and Albany has closed It's
springfield, Mass. shops, putting 400
men on the idle list. Missouri
racine mas shut down it's Scdalia.
Mo, shops giving an enforced vaca,
zion 10 LOO men.
Sears Rocbuck officials estimate
thai december sales viii he onlv
10 per cent below those for the same
month OF last year. For November
o. this year sales were only SIG.lSG.-
COO. against S25.555. 900 for 1921 one
OF inc directors OF the company told
your correspondent Today that the
average sale WAS running very
small He said that the efficiency
OF the company's men. however. had
been gradually increased until il was
now higher than before the war. on
inns basis. he added. when the aver
age sale and profit returns. the com
pany VIII bo in clover. He sni,.
these same conditions applied 10
othcr similar companies
Todays detailed statement of mr.
November foreign trade throws some
light on why foreign exchange has
recovered. Exports OF breadstuns
were S3l.iGS,000. against sga.777 600
Tor the same months in 1920: meat
ana dairy shipments were Sl7.57s. 000
against S39,2l2.0D0. However. cotton
ana oil held up. Shipments of the
first named were $4,000 bales
against $4,000.