Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-09-28
SPECULATIVE BEARS
AGAIN CONTROL MARKET
Fresh Buying Power Fails TO
Develop, and Stocks DO
Not React.
STANDARD on CROSSES 700
"r'ht h"t>rfcilrr Concern Reaches
New High Mark for Ycnr. Then
H""crN smnIt Net Dcclinc-Cnll
Money Strad,
STANDARD on CROSSES aoo
lNy Assoclnted rrcss.l


NEW YORK. Sept. % Speculative
operators FOR the decline again ass
stunned control o! today's stock mar
Il k"t. forcing another sharp break In
4 prices which carried number 81
'tocks down one to three points be-
low Yesterdays lcvcis md In many
Eases to the lowest ngurca OF the
month. Virtually no fresh buyiug
power was In evidence
Passing Of the Pittsburgh coal
j dividend. calling attention 10 the sc-
rious effects OF the coal strike which
tho market had largely ignored be-
fore: Increasing tension over tho
situation In the Scar East honvinass
Of iAhcrty bonds ana reports that
bankers were not disposed TO permit,
'nrth"r extension OF brokers loans.
which had been cstimatcd as hiph
i "s N2ppo.vOG 90" when the c,irr.D,
! reaction logan all contributed to tn"
I downward trend
Coal Brcnks Ten Points
pittsburgh coat hrok" ten points
! mon receipts of Information that tho
directors mad passed the regular
| IuHtterly dividend. which ohviousIy
WAS unexpected In tho financial ais.
/ 'rict uhc stock haze been on "A
?'r cont basis since 1913. Burns
Brn'h"rs y. and - stocks on which
hlVli"nd9 previously had been de-
cared despite u shutdown for i've
months. reacted more than "a poin,
1 each
coal carrying rails w.rc Influenced
ny IN" pittsburgh dividend action.
l-ackawauua. which had sold IN "a
ISL dropping back to l?3 and
!osses or one TO nearly three points
tth'nE place In Chesapeake and
'h1" Heading. D"lawar" and liud-
"a, ~ nigh valley. Central OF Erw
.irrS"N, Norfolk and Wctstcrn and
fiutDntr,h and West Virginia com
'hou and preferred. Poor earnings
statements for August had also am
nhiaNorab!" "fIcc, on these issues
Hhi'iinur" and Ohio showinr. do
crease Of nearly $4,000. 900 in n,,
i'N'nn" under that OF AUgust ~
last year. and Eric falling 10 nee,
~ hScd charges by nearly 100. Ooo
ini"n Pncinc. Atchison. Ne. y,-L
central and Southern raclnc ais,
yielded more than a po!u, each. do
spite the publication Of figures show
lnB further increases In loalines az
rcVonu" freight aud coal loading
~ now high mark G!ncc the strIk,
logan
Merger Mobilization Coming.
knmors tina; Tie report Of III. T.I-
'rdi Trad" Commission ,yould l.aI ~
"a modification ~ the term of ,H.
R"rublic- M!dvalo Inland steel M.rr.
or ""r" held partly rcsponeibis for
the weakness Of steer shares no
hubble dropping two points and Mid.
vale nearly voiut. VIII. United
states Steel f"ll below Iol and then
I'!"rn - for a net loss 90 al on
"a" day steel pc,due.!.n ~ "a.
port"d :" rbpu, 20 per don't - Cd.
pScit". on, some ~ tho larger r..,,.
4. are experimenting a!Mcutl. !u g,,iiu,
cars y irov" their shIpmeuy
aidndd!! OF! OF ~" Jersey crossed
-p9 today 70 new hitsh ;ur tho
Year. but fe!l back nvc points !at.r
i'f Il net loss az 2l-i points. stan
GARD OF California ALEC establish.
new peak price at l2lI.2, but,
dropped back four points before IN.
close Gul: States S,eol. which vi,t
tho STANDARD on issues. has .ron OK.
h!hs'!ng marked strength through
on, 'ne reaction sold OF o .oint.
today Thre" Of tho most ;fu-r',,on.
speculative" favoritrs. Mexican 10.
'f'!"rr. Baldwin sad S,uGcbakor.
o.! Welded two uo!nrs or moro.
I"ia! sales were approximately
100000 shares
Hl!ls a@ainst cotton Simmer.
were hcii !nrr"ly responsible for the
further decline in sterling. demand
Hills yielding nearly ,aiu, "a
$40 - Con'uenil! rates yic,l-
-! only moderately.
Cali Money held steady a, iI.i
per cent throughout tn" session ,h.r.
lrinE littl" d"n0~1
r"actiOna.s ..At r.,,,,,
% business was done in tho time
money market. year NJ.