Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-28
PROFESSIONALS PETS
ADVANCE ON MARKET
Most of Trading Done in Is
sues wise Ones
Support.
STREET DISCOUNTS REPORTS
Dcittlc Talk Of Prosperity for First
Half Of Next Ycnr-Spccinitics
Make New High Observation-Disclosures
rr> mud Rcnnrrs Leads Oils.

ny Rrondnn Wall.

NEW YORK. Dec. 27.-Wau Street
continued today TO discount the
prosperity promised for many lines
OF industry the first half of mex,
year. While trading continued
heaviest IN those stocks that are
known to b" the favoritcs OF big
spectators. a broadening Of srccu-
lat!on was noticeable i'm other dircc-
lions SpcCialtics again attracted
attention with some new high rec
ords, particularly PIGGY Wisgly
and Fisher Body The professional
character of trading may be cleaned
from tho fact tina; the total transac-
;ions In the six most active issues
today aggregated about 90 per cen,
OF the days business. glance at
the general list shows that only
those stocks which are favoriteS OF
the professional groups are making
much Roadway, thus indicating that
the purchasing power on the par, oc
the public has not Yet started ia
make rs appearance Until the gem
tfai pubic becomes Interested
broad stock market cannot be OK
Tec:ed
in addition 10 speculation by pro-
f@ssionals interest in the cotton
market is Widespread The cnse WIN
which cotton goods are moving and
the upward tendency has excited
many merchants into taking n specu.
.auNe position in the cotton mar
kct ''"
Reach Trcnty-Sercn-Ccnt Level.
In View OF the almos, unanImous
View OF mon in the cotton jnams,r,
from tho planter TO the retailer OF
cotton goods, that prices OF raw cot
'on should advance. il is no wonder
me primary market kc,ps makinr
new nigh records daily. Today the
-'.ccnt level was reached pron,-
taxing developed in the late after
noon resulting in an irregular clos
ihE Tor cotton prices
Compared with a wear oro oo,,
prices today showed an advance az
approximately $50 bale. Expor,s
"i the staple for the FIRST eleven
months OF IN" current calendar vow
We're about Sl@o,OOO,0O i'm cxcox. 90
IN" corresponding period last ye,r
rms furnishes an idea of tho IN
erased prosperity being shared h,.
'N' south Since tn" new crop bc-
-. :" come l" market. August I
cotton prices have advanced ,hou,
$50 bale. "'o"t
Producers md R-ancr> Lem.
PRODUCERS and Rcf!ncrs led m. o,
t'""p. Sp"cuiHtions In those shares
'ur the rise WAS stimulated hv ,bc
i'HNance in Wyoming crid. ana
",.',l mat midcontiucnt prices for
""' VIII soon he marked m. Cal
norma Petroleum was ano,brr :,
g,.'e which IS advancing coinciden,
WIN special developments rhis
company has .o.nurrirnsiv. ,,t.
!"i expansion Production has ehn,,.,
"'S increase In recent weeks Thn
SlocN is understood Ia he rojnr So
- ""NeS OF persons close ~ ~
mon Oh OF California.
transportation shares moved WITH
narrow range. The investm.nt
'n'ah' so promncn, last week has
LOT he most part Disappeared no.,
N'hS'andinS ihat Novcmbcr s,,,
"'"'S OF earnings published tndar
S"'"t" up favorably Dcclaro,inn
M extra dividend OF 20 p.r can,
thhSyivania company on.r,t
.Hs western lines OF The pcnn.'.,
""'" system. is simply stem i, ~
'tN'"a'!"h o: that companv,s en-
Jus co!hcidcnt with absorn,ior
ihS sIcai property BY the p.,n
syIVania Railroad. e"h
General Motors shared Win O.
haher Tile activity and s,rn,, ,t"oe
sI' "io'or group. Motor shares uxu.
leone huoyant wiki the nm
49, 80" OF the annual motor s,"''.
,,I,., H'"CHS discount in advance th,
'1S'h- OF large orders.
~ 'Nsfs' lo-.H are declared % ba,
tH approximately s2,25O oo0 Hoo
.Id'eH with about sI.SoC ooo "o,
"''"' TWO months ago