Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-03
FORECAST IMPORTANT
U STEEL DEVELOPMENT
Negotiations for Sale Of Re-
public Bond Issue Be-
lievcd Underway.
~lirISH STERLING
Touches New High Record During
short Dny-Coppcr shares Are Ac-
Tive AEain-iIiSh-Priced TobnccoS
49,. Conc Forward.
Ivy Dron1nn wall.


NE WORK. Dec. r.-Despitc n
.s+siajr amount OF Weekend rroH;-;sk-
ing, the stock market continue
s;rons today, closing prices Being
nom a traction to full point over
previous haal agu-cS Transpcrta-
ton shares were fairly active. but
stecls, coppers and oils came In .or
most attention. Brokers declare
that the demand in The stock loan
crowd and over the telephone indi-
Gates the existence OF big short in
iersst Notwithstanding The size OF
'he recovery the last week. Another
new high price :or sterling helped
sentiment There are Important de-
Neiopmcn;s pending for the indepcn-
dent steels. Republic Iron and steel
IN which there IS - large shor: in
'crest. advanced point. Ncgotia-
lions FOR the sale OF Republic steel
bond issue are reported 10 be near
ing completion. The street would
no; be SURPRISED 10 learn formally
that tho Youngstown Sheet and Tube
management has decided TO apply for
listing OF It's stock on the stock eA-
change
coppors were again active. es-
reciaily Anaconda, Chic. kcnneco;t
and Mother Lode Coalition. The
lat,er's hoard meets TUESDAY. when
"''N''aD ~ per cent - expected. Ken
necott Will also act within the next
ten days on a dividend policy. People
close to kennecott ioo.; 70. re-
ucwal shortly OF an offer by the Ken
necoti 10 take over Mother Lode
Work on tho Anaconda Chile merger
Is expected 20 be rushed TO enable
certain insiders or the latter to take
PROFITS under the IL IL per cent In
come tax on prohts ACQUIRING from
Investments Gf ~,
Wiles biscuit Advances.
4 sharp advance in looye wues
Biscuit common was registered on
"nccnt accumulation OF N. shares by
e. persons who look :or payment in ,h,,
wear tu;urc Of - per cent Of bacl,
dividends on the second preferred
,,,n.Joncs Tea common again showed
ifss$tA cnrih in anticipation Of impor.an,
.5s,-de rc lopmeNts next week Directors
LIS this month TO take dividend nc
s,>ssaion.
priced tobaccos camo for
= r ward. Purchases are in antic.na;!on
ss.et large extra or stoc,t dividends 70,
i. asuth companies as T. I.orillard ard
81. Liz get, Il Myers
y ,-,E,4-i bsorp:;on OF American Saf.,v
:ssRazo- is under way by people ia
,-ryf'ir'a ar with tho property. who con-
. r'hider the stock cheap at this level.
foT Tcadjusted hurns Brothers cap
The plan will provide
-o-sSi'ro gross is reported on the plar
Tor retirement OF tho 100000 pre-
net,leTTed stock. The rcadtustment will
49, Undoubtedly result in Increasing the
!. fvidend on the ~ stock.
y -, ..Sou'h Bend was reported -erpon-
stole today for the sharp rise in
; Ssndebakcr in the late trading.
-tt-,v Professional Shorts Caught.
g. The rebound in the general list has
y Been SO fast tina, many professional
-akhorts have been caught unnwarcs
.-Rig short interests are declared 10
:, ks, in Continental Can. Kelly
50 sprin steld and American Sugar. The
\. latter has been favorite short sale
Oh the b"itef that II will be many
months before dividends will he re.
.sNmed on the common. Pan-Amer!
can Petroleum has been another
popular short sale
--s.-A maTke; Will probably appear ncxt
= week for stock of the oil Lease ne.
vtiopmen; Company TO be given IS
= IN extra dividend Oh Middle Sto,ns
=. oil This Will relieve somewhat IN.
(, I'm arrassment OF Middle States
- strength prevailed in the bond
:. rnarHet.