Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-01-11
PROFESSIONAL BEARS
BATTLE FOR STOCKS
obtain Shares, They Arc Forced
l" Bid Up, Resulting in In
tcrcstcd Issues.
hcLlNE IN CALL MONEY
'unsfrlaIs Show Pronounced Gnins.
trucfblc Steel Makes Impressive
Hsc-orcrators Busy Covering
short Commitments.
HCLINE IN CALL MONEY
ny nitOADAN WALL.

NEW YORK, Jan. lO.-IIiE profess
MAJ bears who had b,s'n hammer
+ inc stock marke, the last week
IN a Wow to unsttling IL and bring
about renewed liquidation began
i"y l" reach for stocks. TO obtain
Il securities they were forced TO
th.m up, with the result that ad-
noes In III. issues In which th,v
II. "h!chy interested rosc from :
POINTS. This covering started
hi'cr professionals To begin taItinI:
'h'lr short lines. so that the en-
list responded.
'h" important point against the
hrs was e decline in the call money
- ~ per cent tor the first time
weeks Tile opening aud renewal
- M"s per cent. but the clos"
indns,rinIs show GninS.
Industrial stocks showed tn. most
| hpHht"d gains. IrucIb!c steel
de a most tupr-ssiv" rise, an! It's
| ms ~ more th"n . points reelected
OF The covering operations OF IA"
ptp"i crowd" which MAS uu.r!nI
'cls throughogt last week. rus
I phh 60! operators were also huhy
'"finE snort commitments ia Bad
I."N"in"tlN" ana Mexican i'v-
l"um, tho former advancing = ~
ii's "ni The latter :. They also
iair-aiz'h buying orders ia ram
iericau. which mad. :. gain OF
r. Than points
ne HdE"uC" Ia til" Industrial de-
tinrnt consumed most uf the s"r-
n. but in IN" last hour the rail
,d group cam" forward, with south
lncilc Hor,hcrn Pacific aud
aiding the leaders, Southern Pa
got aNross par Tor the nrrt tin"
weeks. y .rGactionury tvndcucy
'"lpncd Ia the Industrial toward
Close" which shaded their best
COS from 10 points. but TIA.
l"rtona at the .nd OF ia. Scss ion
strong.
lnpthcr Weakening spell occurred
Atlantic. cur and west Indies ON
IVY offerings II dropped n'vtrly u
ntt 10 tho ncw iow record OF
offerings Well Absorbed.
IHtt!nbs of tho issue We're We'll
'oihcd az tn" !nw level. ANA when
market Was cleaned up the prize.
quick rebound. In which All
one-eighth OF The decline WAS re-
'"rcd.
me favorable factor was the sharp
dHtg ~ arout cents Ia TIA. price
t!IhS "Ncnrngc. In some quar-
me rise is declared 10 be manip-
ttF", VIM" Ia others ID IS attrIh-
q 10 reduced purchases by the BIT
~ American products. The r!s. IA
Tl!Hs Is considered bullish In that
hiA hsr II goes til" more likcly tn"
;iSN arc TO resume larS. purchases
cotton ana other commodities.
len ia turn would bc OF much bcuc-
10 tho farmers. Indirectly sIcn
ruascs would nav" Il beneficial in
yea on the fertilizer and asricui-
Ii implement companies which now
collections S!DH IN the agr!cVl-
81! DISTRICTS American exports
r. SuI,rcu much. owing TO the So
decline In icr"iIn exchange so
improvements would Warrant cA.
'at!Ons OF Increased foreign bLsi-
|rha decrease OF s73.35a tons in the
|illrd business ON The books OF the
TED states steel Corporation at
end 81 last year. wIS IN line with
|peCtatious In Mali street.
Earnings 10. the latter month. that
srD-g were declared TO lie ConsiG-
Iiuly n "Ncrss nf those for NoVcm-
when they tuta!ei about Sl.-J",
Til" road Is receiving su0stAu-
expansion Ia earnings. as Il result
t.e fast freight service wEicr il
put into effect between Houston
Sew orleans, The increase in
aumh-r ~ reHncrics in and around
Is'un has also helped swell the
ululss nt thc company.
california Petroleum ~ in II very
Ions position. owing TO the seem
~ Unsuitable demand for oil in
tiDrYia. whore consumption IN Mo-
nbrr was ~ excess of production.
cumpanv - NOW producing about
800 barrels daily and Is doing Il
amount 81 DEVELOPMENT work.