Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-01
MORE THAN MILLION
SHARES CHANGE HANDS
Failure Of Studcbakcr TO Paw
Extra Dividend Proves
Bcarish Excuse.
STANDARD INSIDERS MY
while 0iusidcrS sell In Disgust on
Account OF Rcrent Action az stock
In Fncr OF "Mrions" md Pros
pcctiNe "Plum>."
(Ry Drontlnn MalD

NEW YORK. Oct. 2i.-Stocks were
again under pressure today, most
active issues closing with not losses
OF from one TO four points. More
than a million shares changed hands
during the session. There was no
news TO account Of the urgent offer
ines which seemed to increase as
Prices melted. Apprehension rcla-
tive to the election results and the
foreign situation continued 10 he of
fcrcd as excuses FOR tho selling
Practically all departments shared In
the decline. Irrcgular!ty prevailed
in the carly trading with most is
sues showing strength due to AN aC-
emulation over nigh; OF subs;an-
,ial volume OF buying orders,
The biggest disappoiut was
the announcement 10y tho Stude-
baker of no extra dividend az this
time. The regular quarterly pay
men, of - per cent however. was
declared. Although the Street has
heard for sometime that there was a
probability OF only the regular pay
mont being ordered with any extra
there were many people supposedly
we'll Informed who said there would
he an extra payment Studebakcr
led in The downward movement. Ss
prices declined many stop-lcsS orders
We're encountered and this added TO
the momentum.
CI".es With Net Decline
Studchaker closed with ne; de-
elm" OF more than four points. Ru-
morS are heard that the earnings for
the last quarter ot the year will not
MAKE good showing
Some oc the oil stocks displayed
pronounced weakness and touched
ncw low levels FOR this movement.
Producers and rc;iners was under
pressure AL day. dropping about 3
points Selling was urgent. the anal
price being the lowest MARYLAND oil
was also offered Ia liberal volume.
breaking 80 for the nrst time im
many weeks
Standard oil. Of New York. has
generally teen credited with owning
approximately - per cent ~ the
stock Of Magnolia hut from au,hori-
taiire sources II is learned that its
holding now approximate more than
60 per cent
standard Oil. Of New Jersey. at on,
time today showed an advance az
thre" points People close To tho
company ar" reported to have been
absorbing the shares on the decline
Outsiders Sell In Disgust
iher" is general belief that the
recent depreciation ia a number OF
IL" standard OIL issues has resulted
In tn" sal" "t holdings by many out
sdrrs who have been diScustcd with
the recent action ot the shares in the
face o! the big melons" declared
ana the prospective "plums."
Earnings for the third Quarter pub.
iSH'd nite- tn" close o. he markc,
by tho United States Steel cornnr
"''"h ""r" under what tn" st.-ct has
expected The publication of /, don
cit is received with Lisappniutmcn,
IN" fact that some steel men idcutl.
htG with "a bid independent corpora
Won had estimated the figures at
above sJ0.0u0.uo1 caused som. on.
N!hlNm prior iu announcement
preliminary steps are being taken
10 us; The shares Of the Il. H. M,cy
and Company on the New York Stock
Exchange
New low prices were mad. in IN.
copper shares. Anaconda closed a,
us lowest point: quite controversy
- understood To De under way among
'H' .rad!nS producers relative to IN.
method az selling the metal ana ,h,
No!HMe IN which II should be offered
ne 'Hct thai "a certain hig producer
- undertaking the Other rrodur.re
mas caused some discussion.
The bond market Was heavy WIN,
ne exception OF nher,i.s and rh,.
latest government 4 LIS ,yrici,
showed strength. Fries were unJ.r
pressure Foreign governments W..
as" offered in liberal yoiun,. =,
'""eF prices. This was partieuiarI,.
true @! French bonds.