Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-08
LITTLE BUSINESS NOTED
IN WALL Street MARKET
Trading in Stocks Light and
Turnover in Bonds Is
Small.
DEALING IN OIL Is STRONG
Call Money Goes 10 O Per Cent In
Late Sales, After Opening at Is
and Advance to I-2 Caused by
Government withdrawal of Funds.
By II. T.. IBurnunp.

Ky IL L.. Burnum.
NEW YORK. Nov. 7.-Attendnnce
light today. tomorrow being n holt
day. and many people taking ad-
vantage Of tho coming election to
proiong their Weekend. Trading In
stocks was much lighter and even
the turnover In bonds was smaller.
~ the opening. taking advantage OF
the small attendance. professional
traders who are still short despite
the strength displayed last week,
began to raid the market. But no
headway was made. Then the mar
Eet wnsNallowed to take it's own
course with the result that gains
were scored In some rails and prac-
ticaily all OF the oil and automobile
tharcs. In bonds. Liberties sold or
slightly. but the rest OF the market
held firm. especially foreign govern
npen,s. this. despite the hourly new
low record made for marks.
OF shares Arc Strong.
Oh shares were strong on the nows
that the price OF mid contincn, and
other grades OF Western crude had
been advanced so cents a barrel to
e. This price compares with $3.50,
inc nigh carly this year before crude
OIL prices began TO decline to 81 n
barrel. Al the low price for the year
The large producers lost money and
business. Now the producers arc
again beginning to see daylight. The
price or " compares with the same
level In Jhnuary OF 1915. before the
runaway market started
whether or not they are right In
their conclusions automobile manu-
LECTURERS are planning for Il big
year in 1922. And these plans in.
ciudc the placing Of real orders for
parts OF all kinds The news that
tncs" orders are being placed IL just
reiting around. Hence the activity
In the automobile. shares. General
Motors. which has been hanging
around 10 showing more lifc
than TOR many q long day |, was
IN May Of last year that tho old par
value 900 General Motors stock
was taken or the list FOR IN. new
~" par valu. shares. which had Just
been EXCHANGED on a ten for one
basis The hiEh for the old shares
Ia 1920 way Io6 l-2 Therefor.
there was decline in General Mo-
tors from f4oS T.. to the recen, price
OF 10. which is equivalent TO 800
81 share on The old basis
tt'ics Service common attracted at
t"n,ion today by Ia further gain. reach
!nG 200 aronni noon. and showing AZ
gain OF uinety-nlne points from tho
l"w made .: few months ago when n
scrip dividend wss declared in place
az cash The cost of living IL coming
down lor all .: the public utility com
panics and they are also getting more
work out OF their men.
Call Money Advances.
Today's Developments in the money
market included the arrival from
France OF $4.Gji.000 gold TIL. news
that the A1ul;ania which lcft
Southampton saturday, was bringing
&3..pO."oO. and an advance in call
money /" per cent in the late trad
InG. AFTER an opening rate OF } and an
advance 10 ~ Withdrawal Of funds
from the banks here - the govern
ncnt was responsible for the hurry
in the call money rate.
Because there has been so much
talk abou, unemployment, many were
surprised a. today's figures showing
that ga savings banks now had de-
pos!ta OF $1,000 600. an increase of
s'.dOO.OoO over this time last year.
The fac,s are that there are stu
many employed and those At work are
holding TO their money. All OF which.
with our gold holdings OF s3.500.ooO.-
COO and more coming in spells for tho
long pull easier money and higher
prices Tor investment securities. With
money plinS up. Investment funds
viii go at nrst In the safest bonds;
then there viii tie n demand for other
issues bearing more attractive in
come return. Finally, speculation
will 20 Into stocks. Today Is the
day for those with idle money for in
vestmcnt. tits safe to say that the
bond market now offers bargains that
will not lie available 4 few months
hence.
Woolworth made n good report to-
day for October. showing earnings OF
sii.t06,000. an increase compared with
last year OF Sligo, 900. For the ten
months earnings were $1!a.355.O0O. IN
increase OF s3.396.000. The turn for
the better came in September.