Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-01-01
STOCK MARKET CLOSES
YEAR STRONG AND ACTIVE
Gains in Most Active Issues Range
From One to Two
-s".. Points.
TRADING ON HEAVY SCALE
Volume Of Shares Sold for Cash
- Features Days Observation-Disclosures
Trials Lead in Upward Move
incnt.
TRADING ON HEAVY SCALE
ny I,ItnAnAN WALL.


NEW YORK. Dec. 3l-Short coy
crings aud purchases by persons who
pad sold stocks t. establish losses
for income tax purposes resulted in
4 strong and active market for the
last aeSsion on the stock exchange
o! The old year. Gains In the most
active Issues ranged from one to Two
points. while SpcCialtics showed net
advances of from three TO NIX points.
The maximum Gaihs being recorded
IN Houston oil. Trading Was on u
heavy scale. about one and onc-quar-
ter million shares changing hands
~ feature Of the days business was
INC large amount OF shares sold for
cash by persons who had waited
tablish losses for income tax pur-
poEcs. Stocks sold the regular way
today could not be recorded In IN
come tax statements for last year
iiScrS VIII be made Monday go over
jpLo- the new years business
Industrial shares were the leaders
~ The UPWARD movement, which
session and continued up to tho late
h,lhHThoon. Atlantic. iuif and West
ipuies was an exception and dropped
tour points In The carly trading to
a new low record. subsequently it
recovered all OF tho loss and closed
i,ractionaliy above Thursdays final.
erai list IN the late afternoon and
me best priccs were shaded an aver
age OF a point. The close. howtver.
was steady. The advance was taken
TO put out short stock. hu; their Of
fcrings were readily absorbed.
ny waiting until today TO close M
short contracts showing large profits.
bear traders Viii not have 10 pay
q q, TAX on ihosc profits for last year.
Ih"y can use the profits FOR further
speculation in tho stock market. If
the money is lost II means that the
ROScTntnCnt Miii lr 70 . II.
iaXes tile new year. Most OF the
IaJTG. shorts decided not TO clos"
cTo.s"mmiin ncnts until the ncw
proti1, would have to hc turned over
TO the government as taxes for 1920.
'-'Rcad!ng turned heavy following
Company had made application !or
an ,.e.Ntension OF time In which to
pFHDare the segregation plan. Tho
sourt has hNcd January 9 as the
Reading closed with "a net gain OF
about 4 point.
Investment bankers reported an
otter activ" day in tho bond market.
individuals as well as institutions.
Many Investors who had been wait
ing for lower prices entered the mar
Eet', owing to tho turn upward.
Spccnlatlv" rails were In good de-
mard throup hOut :hc ,e.s!on
TiT9 ana rubber stocks We're at tn.
front throughout The day. HuyiDg
S..ls chiefly ;or the account OF shorts.
4 The accumulation OF copper stocks
which has been ng On tho last
Two weeks found reflection In nm AL
vance Of more than two points in
AnIs1nda and OF three In utah Con
soltIalcd.
.GeJcral Motors shared In the i'm
prorcncnt ia prices despite Ia. fact
lhat the stock dividend had been
/ omitted Pierce Arrow was ia good
n r'.,rTii =; q ii 1d,anc,, Of three points
tuymg % vid- lots for invcAtincn,
continued ON - large scale and would
Indicate substantial Increases u IN.
nunintf az shareholders OF many In
dpstriDi companies.