Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-28
PROFESSIONAL BEARS
ARE BEING DESERTED
Change Takes Place After
Market Declines TO
Low Levels.
CoTroN rnIcEs BREAK
Selling ny Bears aud Wall street
Following Publication Of Increased
Markets Affects StRplc-DrvcIop-
mcnts in Exchange Favorable
ny nrondnn NNnIl.

NEW YORK, Nov 25.-Wholesale
assertions from the professional
bear ranks started today after the
stock market had declined to the
low levels reached on the break last
June. and quotations showed net
losses OF from two TO three points
from Saturdays close The early
break registered the elimination OF
weak marginal accounts The first
strength IN fortnight appeared
when two OF the biggest wire houses
sent flashes over the country an
nouncinG tina, they had turned from
the boar To the ball side. Ii was
then that the pressure so prominent
in the forenoon on Studebaker, BALI
win and Corn Products icsscncd and
the whole market began recovering.
After touching new low for the
reaction Stec! Common recovered
iractional!y. Oils, under leadcrsh.;,
OF California Petroleum. showed IN
well in the late rally.
Cotton prices broke sharply on
professional selling. following pub
!ication OF increased estimates OF
the crop and Wall Street selling
Give Employees Chance.
Steel common was purchased on
scale down by representatives. of
the corporation. These shares ar.
being taken to he offered to the cor
poratton's employees about the latter
par; OF tho year, when the company
usually offers 10000 shares OF tho
common stock to employees To,nt
subscriptions Invariably is for an
amount III excess OF that offered
FROM the viewpoint of the cmnloye
tHe common shares are a profitable
investment. In addition To dividends
snare annually on stock hold. They
also participate in jackpot which
represents the bonus and dividends
ON stock. the payments on which
have been forfeited by other en-
nloNes. one year the jackpot.
amounted to Sls.75 share.
ADVANCES in the prices Of raw and
f"hncd sugar stimulated purchases
"i the SUGAR shares United states
Gunner reflected another rise in tho
Ptl'" az crud" rubber, which Is now
"n"Nt 10" per cent above tho low
nric" OF IL cents registered this
Money Market Favorable.
developments in the money and
foreign exchange markets were IA
N"I"p!e' call money rate declining
rom 81 TO { per cent. where :,
closed. and sterling exchange adj
N"ucihS TO new high price M
Si32 Is the highest nEure since
l'l'' when the British government
nlH the quotation "pecced'' a;
i'6 81. Fewer offerings of cow
.n're'ai bills and purchases hv
france were given as reasons fn-
,o"hE strength. French francs
An attempt was made 10 unsctt1e
'""H"ence in the transportation
Ero"n by reviving the rumor ma,
'he Great Northcrn's dividend wouId
20 sliced from : 10 > per cent. Rail
rond shares were relatively firm ,ho
october reports showiis up better
IMAM had been expected
his investment houses report sir-
hcuity in obtaining fair sized
amounts Of high class bonds.
Increase in the Coca rol, ai,,
nsn! from 81 annually 10 So an
nua!!y. was in line with recon, nr..
o'I;ionS The short in,crcs, is large
hurnS brothers shares did nothinr
a!,hourh the management is undnr,
$1,000 10 be very active. scek,nr 70
EXPAND lis properties through no.
q"!"l'lon Of other companies bcrc.
'viofc unsupported