Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-09
tBy Associated pressl

by Associated Pressl
~" YORK, Dec. S.-The com
Mon OF todhy'B stock market un-
went an abrupt change for tho
TOR this afternoon. when .specu-
ors FOR tho decline were compclled
abandon their efforts on the short
because Of their failure to bring
any large volume OF stock. Rails
DYED q vulnerable target to early
'ssuiS, but !ndustriais offered bet
resistance, and II was the strong
yins power appearing In such lead
as baldwin. United States Steel
nmon and Studebaker that turned
ces upward again after noon.
ne partial recovery In railroad
'rcs was stimulated by publication
President Hardin.'s message to
leresB. approving railroad iner-
~ and the fnuiing 81 equipment,
m recommending abolition Of tho
ilrond Labor Board ana the sub
tuition Of labor division or the
etstnte Commerce. Commission
2th power TO enforce Its dec.sions
r--dian Pacific. Illinois Central.
re Marquette ana Reading. which
IN been weak in tho early dealings
'sed at slight gains Preferred is
- of the 81. Paul and Rock Island
ttoms rcglFtcred net losses OF more
an point each. Recent hravInoss
i rail shares has been attributed TO
tSatton selling" and unloading of
DIS which had b.cnmc discouraged
the lack Of public participation.
Sugars show Gains.
stud" baker continued to reflect the
1vofahle earning report o. that COM
/ ny and speculative approval OF tho
B'ectors' intention to continue the
dividend rate on tho new stock
lays closing price ot 1874 repre-
3oi Ing net gain OF "a other mo-
r. improved in sympathy. Chandler
mb!ng point and Hudson. Noon
ckard. Pierce and WHY'S
cr!nnd fract!onaily Accessoric.
40 did better, Fisher Body advnnc-
:. - points.
.sars were taken In hand again
d gains OF 10 y points were re-
ided TN that group by American
Il sugar, American Sugar. Cuba
ne. common ana preferred. South
ito Eican and Cuban lean
;ioual Lead established a new top
ll@i Oh reyivnl az reports o! a
ok dividend Strength ot tobacco
rluctS reflected reports. shown; a
|rSr Iucr"aS. IN cigarette shii Hi.nts
ring the hrst eleven months OF the
iIr.
baldwin Is Pushed Up.
baldwin was pushed up Is points
| tho day; United states Steel COM
ON touched /. hut reacted to lo3s
l. Il small fractional not gain. and
,rn Products crossed I32 for net
40 ~ J.! IN response 20 some heavS'
prt covering Other outstanding
|ycns spots were ii"nicc. Pullman.
i-wator OH. W"niwcr;h and Wells
ergo ENprcss. ri, up = to - points.
srly-Wirg!y established n new top
,ron-ction u short covering ncca-
|6ucL by tie announcement that the
'.es!d.nt OF the company had come
;his city 10 demand delivery OF
|ocH from Ia. short interests.
Religious holidays abroad resulted
a reduced vplum" OF business in
reign exchange. with rates general
holding arm. The advance in
|crling appears TO have been mo-
|enSarily checked. today's ruling
.te being S456A. as against tho high
Si5T, yesterday. French francs
ST up to 1854 and the Italian IRA
;aln crossed the scent mark. Ca
.dian exchange was quoted ut a
account Of l-32 OF 4 cent.
Gail money opened at Z per cent,
a, cnscd off Ia q and theme. to A..
here II closed The time money and
numerical paper market were quiet.