Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-27
.LET-UP IS PREDICTED
IN MARKET LIQUIDATION
Further Ease of Money Mar.
ket Expected to Help
Situation.
TRADE REPORTS ENcounAGf>G
Rrh,ct Good business and rrnsp""t
II for Continuation or Extra aud
Stock DiNidcnds. IiHDkcrs Say Sc
curitics Being Taken.
Ky Iiron,ian Wall.

NEW YORK. Nov. 26.--A lct-up in
tho liquidation which has been Eoiny5
on in the stool; market recently may
b" expected this week owing to the
prospect OF further ease in tho mon
ey market Lax selling is believed
20 have spent its force and big wire
and commission houses say that
most ~ the shares weekly held have
''"n sold. WHAT accounts remain
are strongly intrcnched with mar
p ms ranging from thirty-nvc to sfA-
~ tn" heaviest in many years or.
p"rhaps in the history OF modern
speculation. Many OF tn, profess
S."nal shorts ar. I"giuu.ug 20 reach
70: 'he bottom and are looking for
tangible Signs which would denote
exhaustion oc the selling lusideyS
Of quite nu:!hc. ui Industrial c,u-
phnivs. the shar"s c' which have
been severely iIuiiated. are begin
ninS 10 rrpUrchaSe the shares which
l.ney sold at much higher prices.
Iraf" REPORTS reflect good bUsin..s
and tho prospect is for a coutiuuu-
ton OF extra and stock dividends.
BANKERS. who claim that prices
nav" sagg"d b"caUs" or iudirostinn.
declared At the end ot the week that
IN" securities in their vaults are be-
Ing diEcSted faster than expected.
They hcIieye, however that new
financing Will have 10 bc under
taken at lower prices
Peak "f Crop Movement Passed.
IN" peak Of the crop movement
period this year Is declared 10 have
been passed and money is beginning
To nuw from tho Interior into tho
vaults OF institutions at the nnun-
cal centcrs An enormous volume
"i FUNDS is being received from tho
transfer OF goods from Wholesalers
TO tn" retail trade. The nrst sign
OF the Increased supply of money i'm
~" nands of banks found reelection
IN Il lowering of tho tim" money rate
from per cent. where il; stood
Tor weeks, Ia 81 per cent
Expectation OF tn" continuance O.
easy money lies in the .act that thu
government seems to bv oNseLting -its.
current "Npcudtturos with current
income. Fedora! deposits with tho.
Federal reserve member nanks nav.
Sieadi-d around s250.ooO.UVO.
Although tn" banks say they arc
carrying large amounts of undigcs;
Ell securities the fact that they. ara
not taxing advantage 81 thor privil-
eye To rcdscount at the Fcd.ril r..
serve banks has lei to some %pe,.I-
Iatl"n as 10 whether tho bauliina.
fraternity received word from Wash.
inEton tha, imitation OF Discounts
WAS not desired at this time
B"nds Ar" in strong Hands.
thtll dir' Sttun of securities IN
hhnk vaults has procv-drd furth,r
'"w new offerings OF Importance. ar.
expected In tn" bond market Ftnnnr
ing that IL under way will n, de-.
!"S"I in the offering until tho stool,
market also shows a change Tor the
"r'.'r. me h"aNy speculation prcva.
lent in tho bond market Is rapIdly
disappearing. Honds takon on M,
handS ot spectators arc uudlr.-
InGsm"nt In strong haads Whet
'ie wave OF selling has byrn COM
pl"t"G there viii be fewer su@,u
h"nd firms IN existence. Most az
,h"Se dealers ~" practically ear
riei their Offices IN their hats ana
sprung up cuincid-nt with tho M
SnrcTiatio IN bonds viii he f.,,,,,,I
among the miSsin@
II may or may not he truc ihat
the stock tNchang" qucStiunnair.,.is
responsible for a good part Of rho
present liquidation. This is omen Ia
further discussion. one factor, Iow-
ever that stands ont prominently -
that tho ranl and HE OF spcsuiators
have taken severe losses i'm the stock
market untA they saved up moro
money and much more courage M
material ucreaso in buying power
can hr expected 10 appear.