Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-02
s. STEEL CRUMDLEs
TO A NEW LOW MARK
id Based on Comparatively
Small Earnings Of Steel
Corporation.
TACK MEXICAN OIL SHARES
fhkncss of Picrcc-Arrou Affects
pthcr Motor Shnrcs-Am Can
= Misunderstanding Ia Rails Is
luSHish.
[Bv As.ociatcd prcss.l

> BY Associated Prcssl
Ne" YORK. Nov. I.--Priccs In to-
's stock market continued to dc
fie. but there were Indications tina;
current reaction was nearing an
~.
Buying on the belief that the liqui-
y lion had run It's course Impaired
Tength to number of sharcs at
u, opening. but spectators for tho
feline launched Il heavy attack
ainst steel and Mexican oil shares
Itch again unsettled tho lls,.
{ rhe raid against stccls was based
comparatively small earnings
the United states Steel Corpora
IN for September. which totaiIed
ly S7.72772l. as aKain5t 3l.324. O59
!, month before. but bun interests
intcd out that the increase could
: explained by the fact that Scptorn-
Was short month. that freight
r shortages aud cmbargocs Mad
Id NJ shipments at the mills and
3e price advances 10 Counterbaiance
H. September wage increase did not
come effective until october /.
u. =. steel Common Crumbi-a.
UNITED States steel common crum-
led To 103 l8. u new low on III.
Povcment, but later rnlllod q point
!r n net loss OF 81 under last nights
|osc. Bethlehem Il was down NOR.
an three points at ono time, but
covered all bat one. Cruclble, Lack
|vanDa. Republic and vanadium also
Jade good rccovcries after early
OF weakness.
Presumption OF dividends by the Ma
E,I.t Ii,,,, .,,I g,
tny had a beneficial effect on that
bints. other constructive news fea-
Tres were tho passing OF tho 1900
DO mark In week car loadings and
le declaration % "a 80 per cent stock
vidend with , per cent extra In cash
csides tho regular . per cent quar-
Nrly dividend on tho common stock
tho Standard Sanitary Manufac-
ring Company.
Mexican Petroleum. only 10000
lares OF which are reported now
in tho hands OF tho pub
C. was again subjected to profess
ionnl pressure, suffering "A net loss
( two points, while Pan-American b.
fter having dipped to SO. closed at
for n not loss of H.. Standard
II OF New Jersey again displayed
Iarkcd strength. climbing 1--WE points.
nd better tono also was noted in
tandard OIL OF California and Pa
fc Oil
American Can Strong.
American Can was ono of the
.rons featured. gaining 6l-3 points
s a result of brisk rally In the
nal hour. May Department stores.
'hich gained Va points yesterday.
1 expectation of an end
added fwo more to-
ny.
Acute weaknass OF Pierco-Arrow
referred had an unsstuins effect on
thcr motor shares In early dealings.
ut good buying power developed In
and Chandler, which car
led those stocks ono and two points.
cspectively, above last nights final
CURES. Fisher Body, which recently
njoyrd an advance. slumped nearly
our points today.
Heavy professional press u .
gainst equipments forced Che liqui-
alton OF eomo speculative accounts
nd carried those stocks down several
oints, but they recovered most OF
heir losses before tho close. Ameri-
an and Baldwin Locomotives show
,g only email fractional declines on
10 day.
Trading I'm Halls SIugEish.
Trading in rails was slugginh. but
ouisvillo and Nashville. Lake Erie
nd Western, Delaware and Hudson.
nd Frisco" preferred were quito
'eak.
Total sales were 112s.ooo shares.
Call money opened Mt per cent and
hen jumped TO s. where It closed.
ne time money and commercial
aper markets were quiet, with no
lenKs In rates.
Trading in foreign exchange was
uiet because OF the All saints' holt
ay observed abroad Sterling held
teady around 34.45 Ia. and the con-
mental rates were firm.