Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-20
SPECIAL TIES IN STOCK
MARKET PROMINENT
Close Is Strong and Near the
Best Quotations of
Day.
PREDICTION OF RECENT COPPER
Sentiment In the street II Bcnri>h on
Transportation shares in Most
Quarters MorEnn's Statement
Chilis Speculative Enthusinsm.
Nv Rrondan WALL.


NEW YORK. Dec. la.-Srcculative
enthusiasm for the rise was chilled
for a time IN the stock market today
hy J. /. MorGUn's declaration that
there could he any German loan at
tempted until PREPARATION payments
were rcadjustcd aud Judge Garys de-
MIA! that an extra dividend was be
ing considered by tho Steel Corpora
ton. Professional aoor traders used
these dcnials rs a basis for Increased
operations on the short side OTcr-
ings were readily absorbed.
The upward trend was resumed In
the last half hour under leadership
OF Baldwin and steel common. Early
declines OF one 20 two points were
replaced With gains OF from a frac-
ton TO full point. The close was
strong and near the best quotations.
Tho days business showed substan-
tisl contraction. Spccialties like Ma
tonal Load and General Electric
which have been in tho limelieht re-
Gently, were again prominent. Re-
sistarcc shown 10y the general market
20 bear pressure was considered sig
nlhcant. Speculation continued ac-
tive in wheat and cotton. the former
showing a slight rcactionary ten
denoy, while the latter continued ac-
tive near the high prices made the
preceding session.
E>pcct Copper to Advance.
Activity IN the copper shares wa.
less marked. although additional inn
portant was reported IN the copper
metal market Some large producer
nave marked up the price At which
they are willing to take new business
30 II IS cents 4 pound for the metal.
Foreign and domestic demand con-
tinues good and predictions arc be-
iuc made 81 fifteen cents a pound for
ilIc metal by tn" beginning of tho
new year. An authority estimates
mat the supply OF metal on hand in
Guiding that pledged with tho COP
per Export Association amounts TO
botW""n .5e.0oo.poO To 3oG.0OU.O!u
mounds. This is calculated to no
slightly moro than ono months sup
PLY ~ the present rate Of consump-
tom Attention is directed to the
fact that Increased production re-
sRliinS from Increased operations by
sHrh companies as tho Anaconda
t'Hh. Nevada Consolidated ana Ray
Consolidated has not really appeared
in the ropr"r market.
= !. Mur-au'S statement relative
io The German loan had :. soberinE
lni'u"ug" on the foreign cXchaur.
err hut French frames were SLIGHTLY
h=her. Neutral" exchanges wore
'nrii1"d {" soil of. this being cspc-
r'aiiy true OF DeumarE. Dutch Gull
d"rs which recently showed pro-
n"Luc"d strength, duo to special
reason, also cas"d of 4 slight low
'r'ng ~ tn" call money rate was
Witnessed. Tho call rate ON accep-
tarros r"ccdod slightly.
sentiment in street l. ncnri.b
Sentiment i'm tn" stree, is hcarlsh
on IN" transportation shares i'm most
quarters Profess ionnl traders keen
posing on ia" short side -; tho rails
dud In some Instances are circulat-
Ihg malicious rumurs In an cfcor, tn
|epr"sS stocks They even wen: so
iar today aS to say the Delaware and
iIHdSon dividend which is payable
tomorrow, had been passed Til.
STOCK lost thr~" points as a r.sul,
4 h'aE"rhh!" reports were also cir
cHiai"d regarding tho stability OF
the Union Pacific dividend I.npor-
ia"t p"opl", however. do not place
any "reGoncs IN these stories
mos" stocks in which speculation
laS been most active and In which big
''"' 'SSl"n"! operators HAY. b-ouch,
:" W" ''"H' are expected 10 confirm.
.'1' rs owing 10 BELIEF tina. IN.
''E 'Hltr"i VIII D." largely a r-o
'sS '"nal AFFAIR uu,l after no >.
NnirE 1923 The stree, is p-.,,
allF unanimous ia The b.!!.. ira. .u
.hH'ea;.'Hs ro.n, 10 good trade earIv
h.Ai year 1aIs : :Hnected to ana
T. election IN a strons. s,ocx mar,
'"s MS: quartz! a. 1923.