Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-08
fHy Assnclntod Prcss.l


NEW YORY. Dee stock prlccs
enjoyed anRhcr vigorous advance
IN 'h" carly part OF today's scSslon.
nut tho rapidity OF the rise induced
considerable profii-tak!ng and short
selling In later dealings with tho
result that CLOSING. prices were irrcG-
ular. hut mainly higher
While dealings were on more cS-
i"usivc basis than earlier in tho
"ook. trading was almost entirely
IN tho hands OF professionals out
sid" ncws Developments had li,,io
meet On TIA" course Of prices. but
sentiment no doubt was favnrahly in
'lu"nccd by tho report of Secretary
Mellon, which was generally regard
81 as hul!!sh factor; tho further
strength ot sterling exchange in
creased pig iron production. higher
car i"ad'nes and the better tone OF
nc latest earnings statements OF
. industrial companies
Dividend Shnre< Make Gnins.
iiigh-priccd dividend paving shares
provided the most Spectacular gains
May department stores being pushed
up more than ton points 10 ia. 3-4
" new high record for tho year. and
MacEay Companies establishing n
new peak price az i13 Is. then fall
ms back n, the close TO l1ol-2 where
j represented a net gain OF ~ on
tho day.
Gains or three and onc-half 10 six
ro'nts also were mad" by Krcsg".
Noolworth. ride water oil ana pig
glv-WI.riy
Railroad shares again Jagged hc-
nina IN" rcst OF tho list. Great North.
arm preferred having another sink
inE "r"ll, dropping To =. but rnIlyinr
q, tho close 10 - il FOR a not loss
90 d-S on the day. Northern Pa
ri'c dropped 10 - I. but closed .,
- -, the best price Of tn. day and
one fourth aho, las, nights nual
figures. other changes In the rail
sroun were unImpo-.rat.
oils Conspicn"usiy strong.
oils were conspicuously strong in
tho carly part OF the session. stand
ard OIL OF Now Jersey crossing ooo
ran american y touching 100 IS.
tho j.. 35 81, and Mexican Petrol
cum. 81. but thcs" gains were either
materially reduced or wiped out by
tn" closing realizing sales Ecw Ter
s"y closed At i.s IL, up one, PAN
american y At ?' ia. of one and one
haIf. the - q, 81. of one and one
'ou''h. and Mexican Petroleum a,
80. up onc-haN. Producers and pc
liners and Cosdcr offered hotter re-
"'sian"e. ~" former closing at a ne,
gain OF two and ono fourth. and m.
latter at net gain OF one and one
hal
Tobacco Products improved one
ami on"-half on reports OF higher
earnings. other tohaccos rising i'm
sympathy. United states Industrial
hiroh"l reached o. l-2 on reports Of
q diminished floating supply nf tho
product, bur fclI back later TO 60 3;
or up three fourths. Oh the day. An
nounccmcnt OF higher tube prices hy
Tho u. +. Goodrich co. found rcfIoc-
ton In i two-and one fourth poirt
gain In the common and four and
ihr"c-fourths In tho preferred
Siudebnkrr Again Active
S'udroahcr was again active
touching H. I-2. or eighteen poIuts
above us recent low, but dropr.d Ia
1870 l-2. OF uc-half on the day. at
me close. Hudson Motors established
Il new peak price Al q rs. and IIupp
duplicated its previous high OF 20
baldwin. United States steel and
corn Products were quite active, but
only fracti"nally higher on the day
Call money held a, per cent
throughout the day. The time money
and. commercial paper markets wcr.
quiet with no change in rates
More new high records for tho
year were made In tire foreign cx
change market by sterling a,
S.57 Is: Dutch guildcrs "A, 3s.e7
cents and Indian rupees at SO35
cents. but all reacted slightly at the
close. French checks got ,aboyc
cents again. and the Canadian dol
lar, after holding around par for n
week. went 20 discount OF Ga a.;
a cent.