, 1922-11-23
STOCKS SLUMP
ON BIC SALES
Jack of Public Support Again
Manifested in New York
Trading.

NEW 4OANhs nov -S@Coutlnued
lack Of public support on ths buying
side brought about further
liquidation in today's stock market.
spectators for the decline again fore.
ing ursettlement throughout tbs gen
erai LIST. Railroad shares exhibited
acute weakness. selling being fnflu.
cnced by speculative disappointment
We the October ~carninEy statement
sales Appropriated 1904 0 shares.
NEW YORK, Nov. 7s.-opcninr
prices in today's stock market were
Irregular with the main tendency
downward in reflection OF further
bear selling IND liquidation by fright.
ened and disappointed investors.
Railroad shares were again the hard.
est hit. Wheeling and Lake Erie pre-
fcrred breaking 2L points. the com
mon go. Wabash preferred a ~,
Northern Pacific and New York Cen.
trail IL each. Great Northern pre-
fsrred IL. Baltimore and Ohio one
and Missouri Pacific preferred Il to
= new low record for the year. St.
Louis Southwestern preferred i'm.
proved slightly. Baldwin. dropped
down below 121 FOR n net loss of more
than is points and losses Of 1 TO 3
points took place in Studebaker,
American Tobacco "B." Columbia
Gas, Continental Can. National Lead.
American Linsesd. Hide and Leather
preferred. woolworth and Pacific oil.
tho Inst named at a new low. Utah
and Chino Copper. American Sugar.
and Electric Storage Battery moved
TO higher levels. Foreign exchanges
opened firm.
There was n marked absence OF
recuperative power in h market
during tho morning, some of the 10
uidation apparently being based on
the theory that II stocks could not
be bid up they should be sold. Pro
fessionRl sentiment continued bear
ish and the steady decline OF prices
seemed TO keep small operators and
investors out of the market except
for occasion forced l%iquiiatlor.
Heavy selling OF railroad shares. both
dividend and non-oayins. was attrib-
uted in some quarters to the calling
OF bank loans secured by those is
sues. In the Industrial group. steels.
tobaccos. equipments, shippings and
feathers gave way the most with cop
ptTS duu Sukeio olltllhb hhS h'ot ~
sistance.
National Lead failed to respond to
an Increase of from $3.50 TO $500 in
the quarterly dividend. dropping 3
points 500 natter the announcement.
Short covering and sporadic new
buying of corn products, Burns
Brothers "a" and Sedrs Roehuck
sent those stocks n point or more
above yesterdays close, while Fisher
Body was pushed up O. points. Call
money opened ut 5 per cent.
Pressure against high grade rail-
road shares. some of which declined
in u precipitate manner continued to
weight the general list down. Della
ware and HUDSON slumpel 5h. Louis
Vile and Nashville 8. Omaha az, At
lantie Coas. Line 3 and Northern Pa
cific, Chicago and Northwestern.
Union Pacific, Great Northern pre-
rerred and New York Central 2 to
~. Among industriais and special
ties losses were established OF 2H to
AZ b ywoolworth. Continental Can.
United Fruit. Pressed Steel Car. Mex
lean ePtroleum, Amirecan Smelling
Producers and Reflners and Pacific
OIL. United States Steel got down to
1904, but studebaker held at yes
terday's final figure.
The closing was weak.
Pressure against the market re-
Taxed somewhat during the afternoon
when shorts were inclined to cover
on a reduction of the call money rate.
Some of the popular shares rallied a
point or so but the rebound insthe
general list was slight.