Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-04
SHARP ADVANCE SHOWN
IN STOCK MARKET PRICES
Developments in Near East
Regarded as Impetus for
Activity.
Rail STOCK VIZ SEVEN POINTS
irinwnrc, LackRsSnnnn and Western
b"uycd by Prospects of Iinrd Conf
Nhipincnts-COppcr shares Aiso
Take Jump,
tBy Associated Press. !

tBy Associated Prcss.l
NEW YORK, Oct 3.-hnothcr
sharp advance In prices took place
In today's stock markets session.
While some OF tho impetus for the
advance was due TO short covering
Influenced by favorable developments
IN the Near East ara prospects for
easier money rates. there were indi-
cations that much OF The buying WAS
based on the speculative belief that
the reaction OF the last two weeks
was In the nature OF correction
OF an ovtrbouHht condition and had
gone nearly far enough Apparently
there was comparatively lille out
side participation by small traders
Standard Oh stockB were the !ndi-
riduai features. buying Of this group
was Eased on speculative belief that
with The soldiers bonus bin dead
and the possibility OF stock divl-
bends being taxed 10 meet payments
FOR the sam. eliminated proposed
capital r"adIuS,ncrt Of some Of III.
companies soon would he affected In
standard OIL or California. earnings
~ which are reported To have been
unusually good. was pushed MP 3l-i
points 10 Hc" high record, aud
standard Of New Jcracy established
"a new peas price on Ii gain OF seven
points. Other oils were strong In
sympathy. Mexican Petroleum reg.
ihtcr"d "A gain Of four points. with
SainH Of ono to Ave AMI II half points
being mad" 10y Transcontin.ntal. As
ISOLATED OF! ana tine American
issues.
railroads Show Advance.
The outstanding development In
the rail liz, was seven -poin, gain
hy Delaware. i.ackawanna and
western, winch is expected to pront
heavily through shipments OF hard
coal and Is reported ~ be consider
!rg an extra dlsiriEution 10 stnck-
holders. Private liquidation Of large
holhings 81 This StvaH ar. reported
I" nave tcrr mad. recently for the
"s'n," of WiNiaW Kockcfcl!cr. other
hard coal carrying railroads ad
vnnccd. but less SHARPLY. gains OF
one - tw" aud "nctonrth being
recorded hy Reading. i.ch!=h VALLEY
aMd delaware and Hudson.
Further advances took place In
sugar shares IN respons" 20 addi-
iipna announcements u! price In
croaSes. American Beet Sugar at
yaHc!uE TWO points VITA smaller
? gains being recorded ~ America,
cuba Can" ana ruuta Alegr. Equip
Hcn,S continued - roiieo; tn" iniiUN
~ heavy orders u; tn" principal
PLANTS, gain, ri one 70 four a;ld one
ha!t points beng recorded ny Bald
. " ia. American and Lima Locomo-
;'N"s, hallway Steel Spring and rum.
mar.
,t,,umc ro"i Operations.
Resumption -! pyoI Operations was
evident iu the a.ty!ty manifested
hy several spc,iaities National BIS
'.li was pushed up Ten and one
quarter points on reports that ,h"
COMPANY was contemplating spliJ-
;!uS vi rs present shares into three
or four PARTS and increasing tic
dividend Loose Wi!cs Biscuit, ad-
NHu""h !r sympathy Air Reduction
was carried to Il new high on an
iIoUnc-mrrl' That the company had
Let contracts Tor doubling It's plants
"a BuTa!o and Minneapolis ana ihur
'Uc expansion wound J." paid for out
81 current FUNDS and wi;hou, the
necessity ~ additional Guancing.
Kr"sg- n!sD enjoyed a sensational
advance pr NOR" thuu ten points on
runurs 70, increased dividend dis
lur-rIu-uis.
copper shares, especially south
American issues. were more active
THAN usual
Gal! money openci at 49,, but
cascd on TO ii-2 jus, before the
c!os" Time money was also In
clearing mp oi Hrs'- of tn" mon,h
trausactgus The commercial pape:
market WAS quiet.
Foreign exchange rates were
Slightly better st-.!ug was u hi,
weak az the opening, bat Strength
'reG :" nearly 80 later the ad
vance being checked by heavy Of
i"rng. ~ cation hUls German
.I.arks w." y.r