Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-29
STOCK MARKET CHANGES
ARE IN NARROW LIMITS
General Undcrtonc Strong,
With Indications Pointing
to Rally Monday.
ALLIED CHEMICAL. SOLD FREELY
insiders. However. Take Advantage
OF stocks Hcnrincss to Increase
Their HoldinEs-Studchnkc Yields
SitEhtl!-t"ncr> rruNc Popular.
Hy Brondnn Wall.

tS brOuunn NnfI.
NEW YORK. oct. 2S.-with tho
exception Of few spccialtics which
broke sharply because OF their weak
encd technical position. tho stock
market showed hrmncss TO-DAY. Net
changes at his end Of the short
session wcr" unimpprtant IN the mos;
active issues. Business w;e light
and SPECTATORS showed little incli-
nation to mako now commitments
The ndrrowncSS Of price fluctuations
is perhaps best illustrated by steel
common, which moved within a range
of IS OF "a point. The general un-
d"rione was strong wit hlndications
that tho rally will continue at least
during the forenoon Monday
Liquidation In Allied Chemical
Liquidation broke out afresh In
Allied Chemical The selling was ur-'
gent and continued up.to the close.
the final quotation being within a
fraction Of the lowest and nearly
points under the previous close
ute short interest is being built UP
IN the stock. Many hearish rumors
are heard with regard to it, Some of
the insiders tho last two DAYS. how.
ever. have taken hdvantdkc Of tho
hchvincSs to increase their holdings
For - mDauy that has surplus Of
PP' N'llHN'IN sA".nnu.ooO. financial
aualys!Sts say il is not selling too
high. /; sbelicvcd. however. by
good marke, judges to have had all
the ris" TO which it is entitled
Judging from the action Of tho
shares II would look as though the
stock was headed for lower levels
according {" brokers who pay close
attention 10 tho technical pu\tions
OF stocks iierctofOrc, the shares
hav" shown rcsistauco around So
Tho fact that il broke through that
point today IN u heavy volume Of
dealings suggests to some operators
that thor" will bc It continuation of
the d"clin. next week Al!nd Chem
icai. However. must no, bc M, in
the same class with Dawson Chem
ical
Studchnkcr Declines Slightly.
Studchak"r moved within an UNI
usually small range and closed with
fractional loss. Although insid-
cTs are reported t. have been pa, ~.
inE up tn" stock the last week tn 80.
lief is Spreading throughout the
street that the directors at their
next meeting viii decide TO omit
tho extra payment declared three
months ago. Action Of General Mo-
tors stock would seem To indicate
that there is II" thought of rcsum.
ing dividends this year
Practically every brokerage house
has Kind word to say for the
co3pers, but the latter refuse To do
anything. Mitch stress Is laid ON the
continued shrinkac" In surplus stocks
Of The metal. Most people ar. un-
willing TO purchas" the coppcrs he
cause th"y knwo that with an ah-
sruc" OF the normal foreign demand
there * little prospect OF most Of
them making money
I"rprr> With Possibilities.
Those companies which are con-
: dcrcd to possess the greatest pos
S'b!!itIcS are tcrro Il. Puscr. Chile
kcnnvcott and Mother Lud" Coal-
ton The latter is making an nm
usually good :Slovimg and should |,
declare another 50 cents dividend he
trre tia" end NJ the year. 0lc directors
OF kcnnccot; might soc III; TO re-
sumo divid"nds ON their stock
Close n,r"r, IN is being paid to
he price fluctuations OF Marland
oil. The stock SEEMS to hc offered
vad.ly Oh III, slightest show OK
strength
Stedluess was shown by ,hc bond
market IN general. Tho new govern
mcnt il-is showed q better under
tom" II!ch-rade and speculative
rails w-r" hihcr, ST Louis and san
Francisco comes were IN God de-
nand at higher Iaices. In Ttc ieys.
etgn department the city Or FRA
que l-2s touched a new low record
Even the bankers themselves frown
when asked about the future Of for
ciEn bonds