Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-05
|COPPERs HELP STEADY
MARKET BEFORE CLOSE
|Proiil-Takcrs' Sales Are Read.
lily Absorbed OH Wall
Street.
MOTHER LODE IN DEMAND
l>rhn"rott mud Anncondn Divide Lead
rrship - Chicago Rcun,ntic Tool
Earnings ItunninE ~ Much nv $40
share. Company Director states.
by broaden Will.

NEW DIRK, Nov. f.--Pront-tak-
ing induced by the sharp .upturn on
impaired irreSularity To
price fluctuations on the New York
HStock Exchange today. Early in ths
short session offerings caused hcavi-
ness. but the general list developed
resistance duo to absorption by those
who are behind the present constric-
tive movement. Big operators eho
unlpadcd considerable steel common
said that they were surprised at the
case with which their shares were
: absorbed.
In the las, hour general strength
developed under leadership Of the
copper shares. coppcrs were bought
1 because tho street believes Germany
VIII ultimately noat an international
= !oan and use part OF the proceeds to
purchase copper metal. Toward the
close prices showed frmness Most
5"i IN" active issues. however. with
h" exception OF the coppcrs. closed
with n-t losses.
nid Nat Come ms Surprise.
heFiFai "i activity and strength in
70" copp.rs did not come as "A sur
5P'ihe 10 those on tho constructive
siic OF the STOCK market, Rumors
nave been current for the last week
'hdt the big pcopl" w"rc determined
l" place the cUnpcrs where they real.
/ ''"S "H "''dhHrrc DS the prices
4of other inGGstrialS. Low cost pro.
1duccr. are expected to bc IN. IA.
rorit"s chile Copper was ia good
demand due TO expectation that the
ddifcciors VIII shortly begin the may.
m"nt OF dividends Mother Lodo
Coalition. which is controlled by
k"nnecott was unusually active and
reached a new nigh price for this
movement
Il Thp.a
Mother Lode confidently predict tina,
the directors =, their meeting nn,t
month VIII declare another dividnd
-! % cents Il share. In some uu.r-
4 n'fs. IT IS said thu, the D"cemb.r
aHNlGcnd viii be In excess OF so cents
l f" snare" The company paid so cent.
/ snare last June 80 that tho de-
CT" ration vi like amount would
MAX" ~ shar" for tho wear or
"1L""' 10 per cent on the current mar,
kr' quoiatio nfor the share, RAY
Consolidated did not do much be-.
oans" com" brokers ar. advising its
shIc with r"iHvcStmcn, of the pro.
'"cd- Into Mother Lode
h"hn""ot and Anaconda divided
i'"hershlp of the coppcrs The for.
h'T STOCK j. being bought In antici-
-" ION 81 mo resumption or dividend
- the raj" ~ - share annually.
b"nda nrhind stocks.
Ccrro hc P.Sco came In for co.,
slucFahic attention. II liz considered
ono OF IN" hest 81 the cnppcrs There
was an unusually good inquiry FOR
no c"hNer'ihl" per cent bonds
which ~" convertible into m. .,oc,.
Ihe bonds are behind tho advance IN
'hc stock according 10 bond traders.
knowledge that sales OF tho Chi.
Gag" Pneumatic Tool In october
were IN" best FOR any month sine.
the boon year OF 1915 was respon,,-
DC Tor tn" early strength Of IN.
stock. y director Of the comn.,nv
slates that earnings are running At
IN" rate ~ $40 q share annually on
the stock The board is scheduled
10 meet next month when IL I, he
Iieved tn" dividend viii D" raised
from - !" IS share. Earning,
mcntS
Those In control Of the market for
Lott ar" apparently opposed 10 per
hitting any demonstration in tn.
stock c"Incidcnt with tn" absorption
OF the COMPANY by tn" United Re-
tail Stores, although the latter rs
declared ;" HAY" paid $50 a share for
It's Loft stock Stories ~ corner
~ United Retail stores arr being
heard In tho Street
i'"md Market Improves.
Marked Improvement WA wit
messed In tn" general bond market,
copper convertible bonds were aC-
tive and I'm good demand at higher
rr!ccs. -, Louis and san Francisco
adjustments and incomes were also
higher. New Inrk Central rcfundint.
81 changed hands at prices over the
previous closing. Liberties advanced
and practically the entire foreign
governments markets display ed firm
ness
An advance OF more than noint
IN Dome mines resulted from pur-
chnses In anticipation Of the an
EounCcment of flvorabi. dcvclop-
mcnts which some people in the
street have known for nearly
week.