Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-04
PROHIBITING HALTs
Rise IN STOCK MARKET
Many Issues Reach Highcs,
Levels of Day in AT
tCrnoon.
FOOLS hEr0I,TED OPERATING
professional Sentiment Continues
builish-tniIroad Shnrcs show
Activity for Time, but Lose Grounu
Lhter-Snlcs Are Light.
POOLS nErotrED OPERATING
tny Assoclnteh press.l


NEW YORK, Nov. 3-Prices con-
tinued TO move to higher ground In
todays stock market, hut the move
ncnt was interrupted at times by
extensive profit taking ana expert
mental short selling In an attcinp:
10 uncover weak spots
Announcement OF an Increase In
prices by tho Studohahcr Corpora
tIon checked the realizing ya..s IN
the late afternoon aud brought about
a rally which carried "a number OF
stocks TO their highest Levels OF the
day. Studcbnkcr gaining points
United states Stec, common was
pushed up more than points TO
loT Is, all offerings Icing readily
absorbed.
short interests Reduced.
Tn" advance Of -" Last two days
has brought about substantial re-
auction OF tho short interest. but the
volume of sales. which totaicd only
91loo0 sharon today. indicated that
the covering operations are far from
completion. Professional sentime n I
continues bull!sh. and pools ar.
again beginning to operate In sp--
cial stocks
activity In tn" midsession. but cx-
'"nsivc prohi taking cut heavily into
their early gains. Tho stocks which
managed 10 register II net gain OF a
point or NOR" included Lsckawanna.
Erie nrst preferred, htch!son. Chi
preferred. Chicago and EorthweBt-
crn. Delaware and Hudson. st.
Louis.Southwestcrn preferred Union
pacifc. Texas and Pacific and Wheel
ing and Lake Erie
Independent Steela Up.
independent stcels wcrn pushed
M In sympathy with United state.
Steel. gains Of 1 TO nearly points
hcing recorded by Bethlehem H.
cruc!tle. Midvale and Republic
Equipments. which were among the
leaders yesterday. fell under the
weight o! realizing sales today. but
baldwin and American Locomotive
later were abb. 10 rise fractlonally
above yesterdays closing figures.
while American Car and Foundry
improved point.
\ better domestic demand for COP
per and higher prices FOR other
mctals found expression in tho In
FOR copper shares. American Smeit-
Ing. chile. ksnn"cott. Butte and Su-
pcrior and Inspiration rising APP
proximatciy point each.
Some excellent gains were made
by motor accessory shares. Fisher
Body Jumping points and Amcri-
can Bosch Magnetic ,. Mcrchandis-
Ink shares also showed marked I'm
provcmcrt, particularly Associated
.Dry Goods and May Department
stores.
Mexican Petroleum Lends oils.
Mexican Petroleum. again assumed
leadership Of tho oil group. with Il
not gain OF nearly points, but the
allied Pan.Amtrican issues were
heavy, dropping more than "a poin,
9ch. Standard oil OF Now Jersey
preferred improved point. but tina
common md STANDARD OIL of Cali
taTn!a declined frnotionally
Call money opcncd AT per cent
hut easel OF 10 t3-i and then IL
ia. where II closed. \ large
volume ot tiinc money ~ being
placed st = r"r cent, tho bulk oI
tho loans holns made for three ana
four months maturity. Outto:
town hanks arc the principal buyers
or commcrc!ai paper. the rate FOR
witch continues al 49, per cen-
with few names selling as low a,
az
Foreign exchange ra,es were ir-
regular. Sterling advanced slightly
despite heavy offering OF cotton
and commercial bills. while hcnv-
ness WAS noted in the French rate
German marks dropped 10 another
nov low record .: 9i6 cents a
hundred. hu; rallied later 10 S.
swedish exchange establishcd n net
top price for tn" year selling as
high AS @f.a3. but yielding on tn,
later dealings Canadian dollar.
wcr" stIil selling al a slight pre-
u:iuu.