Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-11
STOCK MARKET SESSION
ACTIVE AND IRREGULAR
Heavy Speculation and Vio-
lent Fluctuations Are Out.
standing Developments.
STEEL TRADING ~ ExrENxIyE
United States Touches los ~. High
CIT In More Than Two Scsrs-Cru-
chile and Hcpubiir Reginter Small
Gains.
lily Associated Press.


NEW YORK. Oct. Heavy spec
uiation and violent fluctuations in
high priced oil SHARES and extensive
trading In stc.I- and equipments
were the outstanding developments
In todays active and irregular stock
market session.
\ rush Of buying orders sent
prices up at the start. bu, the viu-
lence Of tn" rise and higher ruling
rat" FOR cali money induced heavy
prcht taxing. especially In the
standard OILS. causing the market "a
drop around tn" end OF the first
hour. The rapid bidding up OF Mex
lean and Pan American p-trulcums
checked the decline and started SOM,
prices upward again, but the mark
inx up Of the call money rate to d
per cent and rather widely held
belief that the rapid extent Of tho
advance had left the market In a
Weakened technical position resulted
In genera! unsettiemcn, In nnal
dealings
New Jersr, or WY Up.
Standard on OF New Jersey. which
fuctua,ed with range If nearly
twenty points. established "a new
hirh a, go ~ and then closed at
20" FOR not loss of I2l.2 points
The DAY sales "ppr"Xima,ing zoe.
oop Nhar"s Mexican Petroleum
mover "thln radius az ~ Is
points closing ~ not gain OF s3.t
much "i The iuying being based Oh
PRESIDENT j. l.. Doheny's statement
concerning the financial position u
IN" company. The ranaInan issues
We're strong IN sympathy. Texas
company established n nrY high bu,
"as"d on on profit taking at tn.
close some 81 tn. domestic oils,
mutually Houston. Pure. Pacific. Pro-
"A g.
'rolHum. closed below yest-rday's
ma! nIur.s
The United states steel Corpora
ii"hs st~tcmenI III unified ord+rs IN
Sepi-mb"9 80, showing increase Of
'l.s0s tons. Wa about what con
hcTvativc interests expected. oui we'll
below snn. sp"Culativ. estimate,
Speculative disappointment was re-
n'ci"d IN drop Vf 2I-t from TIA.
days high. which asA los So TN"
highest In NOR. than tHo years. In
dependent s'e"s wer. irregular.
bethlehem t.. i.acha.anna, Guli
states and R.pIoEir losing ground
While Crucible and Republic regis
tered small gains
Equipments h!d ucll al tn. start
baldwin and American Locomotives
and American car all .stablishinr
ne" p"ah prices in tn. FIRST hour.
virtually all the gains wcr. can.
S'''' ~ U"bliNtr. however,
Baldwin dropping SIS below Mon.
day huai quotations Motors were
weak. Stmd"Naker dropping more
than points aud Chandler III.
Rails Jagged behind the res, 81 Tn.
list ana generals closed lower. hut
Delaware. I.HckaHauns and West-
crn moEcd ~ FOR a net gam OF ia
81 ID; after having crossed ia
National biscuit Hrisk.
Talk Of melon cutting ~as re-
fponsible 'oJ lhr.bsIdlpE up VI som.
~ the hixh-priccd Industrial spe
eialiics. National Biscuit touched
-l' o-s as compared with ,ol at the
clos" yesterday on reports OF "A pro-
Ioscf - per cent stock dividend.
American WOODEN Improved Ia
On reports ~ better trade conditions.
nc sharp hrraa in Brooklyn RAPID
Transit stock. which closed at net
loss Of sl-i. Was founded on tn. be
let ina; tn" new financing ~ needed
Hd that I, can come only through
ne" issue Of securities or asstss-
m.nt on the present stock. either Of
which are bound to have an adverse
effect on quoted values
Total sales wtr. l.50s.GOO shares
cail money opened and renewed ~
and then advanced TO D. probably
~ n result of the government with
drawal 81 - .ooo.oou from its deposits
IN the local center The time money
and commercial paper markets wer.
quiet.
Foreign exchanges were Irregular
Demand sterling WAS firm =, the
opening, reacted later on heavy
"fcriny OF commercial bills and
closed a, "a slight fractional! gain.
Tn" premium on Canadian dollars
touched l-s OF i per cent German
marks Eel! to 35-is cents per 100.
another new low.