Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-12
LIGHT TRADING RESULTS
FROM IRREGULAR MARKET
Only Issues Influenced by Div
idend Possibilities Show
Conspicuous Strength.
COTTON STRONG AT OPENING
Gifcn Ground Temporarily I'm Norm
ing Under Professional Trading.
Rallies and Closes Higher ON Fn-
Nornble Trndc Reports.
COTTON STRONG AT OPENING
ny nrnndnn Mnll.

10y w
NEW YORK. Dec. 1i.-Irrccularity
featured tho stock market today in
comparatively light trading. Stocks
Influenced by dividend possibilities
such as Allied Chemical and Hudson
Motors. showed conspicuous strength,
accompanied by higher prices In
those shares which have been tech
nicaily strengthened by overseeing.
The majority of the list sold lower
liquidation being added to somewhat
In the early afternoon by reason Of
private cable adviccs 10 the effect
that allied Premicrs would adjourn
until after the turn OF the year. De-
spite increase in available funds
call money was advanced to 4l-2
per cent, after renewing at Ala
The total turnover fell considerably
below the mill!on-share level
Cotton opened strong and after
giving ground temporarily in the
morning under professional trading,
rallied and closed higher on favor
able trade reports and optimistic eX-
pectations in regard TO the govern
ment report tomorrow afternoon. \
consensus OF estimates made by
members of the Cotton Exchange I'm
dicatcs expectations of Il government,
bales. Grain markets were irregular
with wheat and corn losing early
Sa!ns in late liquidation
Sterling Leads Exchanges.
Sterling featured the foreign OK
change market, with an advance to
soy, the highest quotation since
early in 1919. Cable adviccs indi-
Gated dun and featurolcss markc,
in London.
Allied Chemical and Dye stood out
with conspicuous strength through
out the session, registering a net
gain OF : 81 at closing quotation of
go Renewed reports were in circu-
iation regarding favorable dividend
action expected from the directors
meeting December e6.
Extra dividend OF % cents a share
announced by Hudson Motors while
small accounted for AN advance OF
] Ia to 20 IL. Studcbaker lost lli
under further taking. Chaud.
Ter held steady around 90 SIS; West;
inghouse advanced frac;ionally to
lei 81 under reported accumulation
in anticipation OF the company ioin
ihS the melon-cutiinE" group. a -
per cent stock dividend being gen
efaiiH talked of. National Lead was
also faNnraSly influenced by stock
dividend talk Directors are schcd-
N!eu TO meet tomorrow and n stock
disbursement OF 100 per cent is
looked for.
Those who sold Continental Can
short 'on the good news" when stock
dividend was announced recently
ma themselves in a rather ruccul
predicamcnt Unlike most stock div
idcnd shares, Continental Can kent
right on climbing after announce
msnt OF the distribution. adding o.,
10 IT'S climb today, To lbs IL Profit
taking In preparation for the Pam
american shares selling "cX" the
- per cent stock dividend caused
over a point decline in both the "a"
ana "B"
Zine md Lend Are Strong.
Strength in zinc and lead prices
continues TO favorabiy iniiuenc.
shares OF companies producing these
metals iiuite Copper and Zinc adj
Nanced fractiona,ly to a new high
NJ : IS. Butte and superior a fun,
point to 81 IA and ST. Joseph Lead
held steady at 1915 SCATTERING of
hopes IN carly announcement OF IN.
A"aconda-C chill. merger caused frac-
iionai losses in both these issues
Renewed circulation OF the rcpor,
that Corn Products will declare n
stock dividend at the directors meet.
ihH late this month. caused renewed
strength which advanced the stock
Ia ! IS To- !22I-i
Liberty issues featured the invest
ment market In rather conspicuous
strength the first.,, Ats. and the
mira LIS again selling over 90
me Treasury 4i4s aiso sold close
TO par. Industrial issues were gen.
orally rcactionary with strength in
Individual Issues. such as cuba cane
sugar IS and IS. United Kingdom
. i-2s advanced in sympathy win
ihe strength in sterling EXCHANGE.
but other foreign issues were Quiz,
and uncertain