Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-30
STANDARD OIL POINTS
WAY UP FOR MARKET
Gains of From One to Three
Points Scored Dur.
ing Day.
SHORTS SEEK RErUncHAsEs
Rockefeller Seeks Splitting Up Of
OIL shares 10 Get Money for InrEc
GIFT Purchases, IL Wall street
{.ossIu.
ny Brondan wall.

NEW YORK, Nov. 2a-gmpressive
leadership OF Standard oil shares
took me stock marke; to higher
levels today Gainst OF from TO 4
points registered tho efforts Of short.
TO set back stocks they had sold
in tho break. An attempt was made
carly 10 unscttlo confidence by
breaking the Erie shares. the COM
mon ~ ono limo showing loss OF
moro than ono point. The low OF
sl-s was within two points OF the
yehrs bottom.
Fers:s'cnt rumors that Erie would
go into rSccivership brough, cmpha-
TIC dcnials Ivy Fred y. Underwood
president and caused = late rally.
some hesitanCy developed in the gen
oraI list in the early afternoon be
cause NJ rrotit taking, but offerings
were readily absorbed and the up-
ward swing was again in fun pro-
gross a, the close
Little attention was paid 10 tn.
rise IN call money from To > per
cent. Sterling touched It's hish of
the preceding day hut later reacted
Francs wero lower Wheat con,in-
$50 - w 'il'l 't~''l IN ports ana fll
more that bankers favored European
credits to facilitate wheat purchases.
John ID. Wants CIT Moncy.
Wall Street heard that tho snli,-
tinG np ~ standard Oil shares was
desired by John II. Rockefeller. who
wanted market on which 10 sell
some stock to provide additional
money for gifts to such institutions
as tn" Rockefeller Foundation and
the Rockefeller Institute.
h"nncrott led the copper group. 4
"iN drnH AT the rate ~ g "a share is
,Np'ci"d following action 10y the
M'ih"r Lode Coalition board next
TUESDAY. l.atters earnings arc m,
trcat"st in history. Nerutiatiuus fol.
consolidation of Anaconda and chile
Copper are dcciar, to be nearing
completion. Officials OF both com
.rami"s are r.iivcnt Chil. ,'oppar
'"uN.rtbi"s Mere active.
STOCK dividend by. General EIec-
''ir i said T." he contemplated by
u" hoard and accounts for IN,
strength uf H. shares
Middle Stntr. oil Pays Murr.
Tn. hig short interest in Middl,
stats -! was : Ven food for ,hnucb,
"hen tn" "or.pauy announced al,
oAtFa d.vdcnd of three shares OF
-! L'"Nt I'"\'I "l'iurut stock fci
every share OF M,ddl, states held.
HhprtS we're wondering how they
t"uio obtain the OIL Lease stock To
denver in the abscnc. of a mar
ket for the shares. This matter Will
Nnd"uhteGiy be placed before the
S'"eH exchange authorities for ru!
'hS In" Street WAS also puzzled
As To the value q, the OH Lease
stock
banker returning from ps,roi,
says the autumpb.ls manufacturers
are optimistic and believe it vii: |
10 nv years before th.r. is a lei,
Up ia business. Detroit : discuss.
M the pr"haoi. merger 81 seyer,,
VI" hN'ac'urcr> Of autumobiI. part,
ihc.rfimG The largest, concern. 49,
''SS'i! companies are doing a good
rus ness stromb-rg Carbuer.tnr
raised ~ dividend from 81 to S.
basis toduy. '"
\ BLOCK 'of a5.c"p shues nf General
Asphalt common understood IN u.
ilh "-lnS over the market was d.,
I"E.d I" have been ,sken 10y promi.
i''n' iai"''s,s from stock exchange
'"t>"' mus accounting for the rise
POINTS shorts were promi-
Num'rs r"sarding Grea, Nor,hern's (
3, N-". nj VII he settled AT the board .
'Heeiin- December %.