Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-26
BUSY HALF-HOL|DAY
IN NEW YORK MARKET
Wave of Selling Orders Car.
RIGS Prices Down Sew.
cral Points.
'uDLrC SUPPORT LACKING
'oars Find Encouragement In Ap-
purenuy Unfnvornbie Uenction.
railroad Shares Also Participate
In Decline. Hut Not EAtensi,eIy.
IBy Assoclatod Prcss.1

tBy Associated Press
NEW YORK. Nov. 25.-A wave Of
cling orders sweeping into the
'ock market In tho last half hour
md carrying prices down one to
* points below yesterdas's closing
"vcls. provided ono OF tho busiest
ali holiday sessions In recent weekx.
Spectators for the decline found
Encouragement for their operations
tho continued lack of public sup
ort. inactivity OF pools In repre-
tentative shares and tho apparently
3infavorablc reaction. as expressed
prices that tho terms OF tho Beth
chem. Midvsle Steel merger had
pom market traders.
There was belief In some quarters
d hat whllo operations were at
gh rat" In the steel industry. the
Iharp competition for business was
aEinG It's effect on tn" earnings OF
Jndcnsndcn' companies and that an
SGT 30 reduce COSTS was pro-
cling force In bringing about the
~ combination.
bethlehem - Depressed.
Bethlehem - was depressed as
'w ~ 80 IL. but later rallied to
1 s-s. whcre II represented "a net
w of SIS on the day. Mldvale'.
ct loss Was ~. United state.
ommon got down to l0l 81. It's Low
vel OF tho week, and ! "a points
nder ia.t night. Close. vanad,,;m.
5.ackawann5. cur states, Republic
nj Crucihle St.cls all closed one
two points below yesterdays
nal heurcs
Studebaher and BALDWIN were the
Tincipal targets In the mai reaction.
re former Slipping below III. and
4 zen rally!ng f.chly for net los.
4 1914 points, aud The latter touch
rs and closing AT llc3-s FOR a
90 loss OF "a
AStandnrd oil OF New Jersey. which
a. weak from the start. got dow,
low as 1895. hu, moved up to
- '-s. where II represented net
rs OF Fix points.
pth'r weak spo's In III" indus
2ria' list were American I.ocomo-
i iE" Houston on. Columbia Gas.
loTn Products. May Department
4 i"fsr Postum Cereal. STANDARD
~! OF California. linton Tank car
Ind United Retail S,oreH. tho lose.
Gnn!nS from two to four points.
Railroad shares also participated IN
: no decline. but not as extensively as
d" industr!als Announcement, that
: p" pool formed m Rock Island. enrIy
! FEBRUARY would dissolve Dec.n,-
or l, aud that 10000 shares Of TIA.
took would be distributed a, s45
nare. caused heavy selling OF that Is
ue which lOt down 10 81 IL for
\ net loss Of SIS
Lose. az one 10 two point. also
ere noted IN atchcaon, Atlantic
',aSt Line. Canada paoinc, 81, Paul
1icrr"d. ChicaE" ard Northwestern.
afknwanna Louisville and Nash
fhc. Missouri Pacific preferred. New
York Central, Northern pacinc and
'nion Pacific
General DnkinE Up.
General BAKING. which touched a
~ top: American Sugar. American
'aHk Note and hresEc were TIA few
,TonS spots, tho sales IN each case
eng comparatively small.
4 ForelSn exchanges wer. firm. de-
iani sterling again getting jus, un
IT, tho $3.50 mark. while French
francs lowered around 40. Cana
Ian exchange was back TO par and
rhziiiar c1chang. continued to i'm
rove ~ reflection Of tho removal %,
5ssrictions in trading by the Bra
1 Han government.
Tho clearing house statement
bowed Increases Of S5.vOi.O0O IN
bans discounts hud Investments:
1 i.,530,0UO 90 the r.s,s.. Of members
the Federal reserve TANK. and s26..
100000 In not demand deposits. Az
r"Eate reserve ;ptalcd S50G. $50. 900.
8cducing the d"fc'' In rcscrv. from
1862, 500 TO t5,56S.0l0.
4
.haro-
4 Twenty irdustrials averaged ~
ct loss 10: high 1922. l1S.i3: low
: s5a.
i Twenty railroads averaged s2.5o.
ct loss So high 1922. ~ %. low.
: a.fa