Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-07
SHARP REBOUND COMES
IN LATE DAY TRADING
Getting Enough Sleep Only
First of Reform
Measures.
SiUDEBAkER LEADS MARKET
r"ss~s i5i for Net Gain OF ga
Point>--Rniis show Some Recovery,
Eut Ling Behind on Upward
swing.
sruDEBAkEp LEADS MARKET
lBy Associated pres..I

10y -NSoclattu preSs.l
NEW YORK. Dec "a sharp re-
bound In stock prices took place In
t"day's late dealings after an OK
iremsiy Dun morning session during
which rail- shares were conspicuousiy'
weak because OF speculative uncsr-
thinty regarding tho maintenance OF
the 81 dividend Oh Great Northern
preferred.
II Publication of Secretary MELONS
l"nhnal report indicating that no new
Federal taxes were contemplated for
next year was the signal for a brisk
rally. which was given considerable
Impetus by the hurried covering of
shorts who discovered that their af-
crtS TO dcprcss prices during the
last few days had brought out COM
&par"tircly little new stock.
Stude haker Leads.
Stude baker. In which Il heavy short
interest had been built UP yesterday
on III: traditional selling OF stock
on tho good news" following an
3npuncerncnt .! the 90 per cent stock
dividend. wax shc market leader.
crossing lai for not gain OF 53-i
points. Other motors improved In
sympathy, Hudson and Hupp estab-
iishins new peak prices for the year.
hut yielding later ON profit taking.
Moon Motors came within half
3po!nt OF It's years high and Chandler
advanced nearly points.
Other outstanding gains In tho in
duhtriai group were made by General
Electric. Mexican Petroleum. Houston
SOii. Pan American y and B. nnd
western Union, all up to Z points.
In addition TO the oils mentioned
gaines OF Ia 20 hearty 3k-2 points
were made by General Asphalt and
STANDARD Oils of California and Now
Jersey.
Rail Shares Ing.
: Railroad shares recovered some
what from their early weakeness.
hut Jagged far behind tho indus-
trials on the upward swing. Great
Northern preferred. which dropped
Ia yesterday. recovered 2J-s to-
lay. but except for gains Of point
n Reading, Is In Northern Pacific
and "a in Canadian Pacific. other,
net changes were OF fractional
~ aract"r with number Of issue,
= losing slightly below Tuesdays nnal
United States Steel common was
sluggish. but tic buying movement
b. that last hour pushed II up to
= ~ j.. for a net gain of rs Bcthlc-
= "m u, touched 6?l-2 again for
ct gain OF l2 and crucibie ad-
anccd IS 10 g. after having fallen
o dO3-s
1 Baldwin also made quick re.
lFoN'ry. moving within "A radius Of
POINTS Tor - not gain Of 37-s Pull.
nan improved ga.s and American
.oc"m"t.vc 80 Coppcrs. which
va, moderately strong In tho early
"I!!nIs. icil back later. net changes
generally being uninlportant
Il sterling Cues strong.
Startling "NchanE" gave another
cntrkuhle demonstration OF strength
% t"d3y'S mnrhet touching si.55l-2
# 80 cents above yesterdays close
nd tic highest price in nearly four
oats. Dutch aud Norwegian cY-
II Ranges also established peak prices
~ $50 and 1880 respectively. while
'nlcutta was quoted at 1890. also the
- cars hest price. French and Italian
: Exchanges improved slightly and
outh American rates continued
troug. Tho German mark sill sold
1t cents = hundred. despite an
unprecedented weekly Increase OF
10000. 900, 600 marks In circulation
Call money opened at per cent
hon advanced tn 5l-2. Time money
= nd commercial paper rates were un.
II changed with the volume Of busI-
- "ss small IN each.
Days tota! sales, S3s,0O0 shares.