Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-14
"a ex-dIv!dcnd .os.
LEY Asaociatcd pross.l


NEW YORK. Dec. i3.-Stock prices
contlnucd their rise to higher
ground In today's market. stimulus
for tho expanded buying being given
by continuance Of low money rates
additional stock and extra dividsnds
ana another sharp rise in stcrllnl;
exchange. most Of which. however.
was cancelled later. Shares. subjec,
To pool operations and posscssint:
extra dividend Possibilities. again
received tho most attention
One nf tho surprises Of the scs-
sion was IN" decision OF the dircc-
tors OF tho New York Central Rail
road not to Increase tho regular g.
dividend rate. Spccua,Iv. interests
had anticipated AN increase go n Sc
or s. basis aud their disappointment
was reflected in n sharpe drop in
that stock which closed at a35-s.
representing net loss OF / as
Other Rails Decline I'm Sympathy.
Other rails declined In sympathy.
hut recovered on tho response to
the fresh buying I'm that group dur
Ing tho afternoon. Closing prices
wero generally higher. with most OF
tho gains limited 20 fractions How
ever. Jersey Central advanced 7
points on small turn over and
Northern Pacific rose 2I-2.
Some excellent gains were made
~ number Of the speculative ia
voritcs. notably by Baldwin, which
touched 1851 l.: and cioscd u, 1877 D.,
net gain Of points y sGuccz-
Ing nf tho short interest In CONT
mental Can also resulted in "a 3-po!nt
gain in that stock
Fisher body. which has established
lei a H
The last week. crossed the goo mark.
but tell later TO 1862. up 5l-e
points on the day.
General Banking Company rose :
points on declaration of a 200 nor
cent stock dividend Additlonat
shor, converting in PIGGY Wigrly
also scui that stock up to a new
years hin at aj3 -s
Other Market strong spots.
Som- Of tho other strong spots
were American Car. CIue.t Peabody.
Cuban-Amerlcan Sugar preferred.
Elhhprn coal. Mexican Petroleum.
Pan American y and Il. Pressed
Steel Car United Retail Stores and
"i!iyS-pvcr!and preferred. the gains
Hanging from . TO points
General Asphalt broke nearly 4
points on the announcement tina, q
now agreement had boon made with
nc Royal Dutch Shell Group. where
as, instead OF one-fourth !nnr-
est In future surplus profits OF The
Venezuelan OF! enterprise. tho com
pauy w!ll realize at once. through
recent OF a royalty OF Is of tho
crud" Of! production thercfrom com
moncinS January !. 1923 Royal
Dutch suffered a not loss OF nearly
points on publication Of cable dis
patches stating that the interim
dividend had been reduced from -
10 10 per cent on shares traded ~
abroad. Woolworth broke more
tnan points In response To the d.
rectors' action IN approving the aD-
preparation OF $4,000. 900 from the
profit and loss account 10 be applied
10 the reduction OF good Will"
which IS carried at $4,000. goo
Call Money Clones nj { Per Cent.
Can money opened at per cent
chscd OF TO 81 and then advanced
20 again before the Close. Time
money continued firm at per cent
for the longer naturitics and s3-4
per cent for the thirty-day period.
Little new commercial paper Is
coming into the market. although
there is a fairly good demand with
prime names st!!l commanding at
per cent.
Operations In sterling again dom
mated the foreign exchange market
Demand bills rose to sass 81 dur
Ing the morning. but foil back TO
siG3 rs ia tho late afternoon. Lat
est unofficial reports ascribcd recent
buying as being for the account OF.
the British government.