Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-03
MUCH ACTIVITY NOTED
IN new YORK MARKET
Boost Comes as Surprise, as
February Is Regarded as
Poor Mor'h.
srpRLING MAKES RECORD
Touches $3.50 s-s. which Has Good
Eject ON sentiment in General.
May and July Wheat Advance
Sharply.
NJ II. Il. narnu,,,.


NEW YORK, Fob. "A study OF
February markets for. the past
twenty-five years will show that de-
ciines occurred In eighteen and ad-
fances In only seven. Moreover, II
VIII be found that In many cases the
declines wore sharp. while tho ad-
rances were only moderate. The de-
ciines usually occur because We have
hhd an advancing market in January,
ana February is n month OF indus
trial inactivity. II appears however,
that this year the February decline
In the stock market was too well ad-
tVertlSed. TOO many people were OK
pecting II and playing for II.
Market In Active.
The market seldom does what
everybody expects II to do. II Il did.
making money would be too easy.
Ioday'H market waa the broadcast and
most active In ten days, with nov
nigh rerords for the year being made
IN number OF shares. IT IL true
mat most OF the activity was due 10
pool transactions. However tho pub.
lie. for the hrst time In many days.
was also nihbiins on the long side.
iesterbay when the market refused
10 decline on the news Of the Chicago
stock Exchange Arm troubles. the
appointment OF receiver for the
i.ocomobiic Company and o per cent
call money. many traders decided
overnight TO cover short sales and
take the long side.
SterIinS SInkex Record.
Sterling made new high record
for The year early today, touching
{t.3Q as. This had Il good errect on
sentiment IN general. A sharp ad-
vance In May and July wheat on
/. heavy demand and small stocks
helped. together with an advance I'm
cotton prices after an early decline
on good foreign buying. Wage re-
auctions of 90 per cent by New Eng
land cotton mills was also a favor
able factor In the cotton and stock
markets. Besides cutting wnRes 90
per cent. tho ArnoskeaR Manufacture
Ing Company announced that the
WORKING week would he incrcase ed
from forty-cIght hours to nfty-fouf.
THIS company alone employs $4,000
men Thia further reudjuatment in
wages. wall Street figures, Is going
10 be helpful In many lines other
than cotton.
lays or All Lusns.
ii was learned today that the Bald
Win report for lnsi will DO issued
within the next ten dayS or before
the 10Th ana will show between 500
v" N"tHpu lpT tue STOCK. II
VIII also show that the company Inns
paid off all Of It's bank loans and Is
entirely out Of debt
Stock Exchange seat sold today
for $4,000. This is the same price
received for the last seat sold.
n paol now operating In American
Ice on rumorr'of a 100 nor cent stock
dividend Is made up OF some people
Who We're active in.ihe crucibie puoi
which created 80 much activity and
unpleasant notoriety. There IS such
!. u thing In pool operations AS setting
on too many fireworks
AtehisOn reported today for De-
ccmher gross or sis2so.0OO against
S22,il1.cOD for the same mont, or
1910" Win not operating income or
only $4,000. against Sl.ii5,00O. For
The twelve months gross was Se2S..
SS-He0 down &2i,l.6,60e, and not on
Grating income was }l,.S8.ooO, up
f3,hT5n00. Southern Pacific reported
December gross Of s20,.a2, 900. down
Si.iS3OOo. and net operating Income
deficit OF 3i.if:.100, against n sur
plus for 1879 Of Si.9a5,00O. For tho
year gross at 100000, 300. down sle.-
$4,000. mud net GENERATING Income of
Sah,t98.N0n, up slJ.63i.000, Ofticials
os Inc company stated that not on
Grating Income FOR December did not
reflect actual earnings, n number Of
Sear-end adjustments heinz made In
accounts with the government and
others.