Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-14
MARKET EXPERIENCES
TYPICAL BLUE MONDAY
More Bear Attacks and Liqui
dation Arc Responsible
for Slumps.
MrCH SELLING IT OPENING
Early ACti,it, Attributed IL lnwtI-
linEnc.> md Inrhiiit, nf Many
Holders Ia Answer Margin tnlI,.
Dptimist> Arc Srnrre.
Hy nron,inu WnlI.

y t.N 'SN. Nay Sit was Blue
Monday TN Wall street TO-DAY. Ad-
di,ionsi professional bear attacks
and liquidation los frirhtcncd secur-
ity holders caused losses Of from
to = points in tho most active
shares and established quite num-
he" az new low records for thts
reaction. There was hardly an nr,i-
mis-; TO be found in tn, street after
the close Of trading. The consensus
OF general opinion was that price,.
would continue 10 lac headed down
word. As had been Expected. thor.
was good deal OF sailing in the
mrs; hour due la the uuwillluXu"ss
and the Inability ~ many holders Of
stocks 20 answer Tho margin calls
received IN tho carly morning mail
The weakness was accumulated by
additional professional bear pres
sure
The general list continued heavy
throughout the forenoon add 1t WAS
not untN the beginning OF tho fourth
hour tia; there was any sign Of
residence This was shori-li,cd. In
tn" late afternoon tho weakness
again b"cam" general and practical
~ all shares rec"ded To new low
levels Offerings continued right M
80 tsI' it'N't hlldl quota 'INNS b"lfG
around the lowest. Tho clerical
forces Of ihh hir commission houses
were busy until a late hour sending
out marsin calls.
Report L"nn> Are Called.
Reports were currcn, tina, bank,
and trus, companies wore calling
Brokerage loans. hu, Investigation
shows ihat calls w"r" made in hu,
we're for small amounts
Tho call money rate a, : por con,
failed to reflect any calling Of loans
and Withdrawals from the hanks in
this district by tho government to-
COO.
international Mercantile Marine
preferred and General Asphalt, were
Instruments used 10y the profes.
sional bears to help uns"ttlc cont
dencc. Tn" former dropped more
than : points. closing Within q frac-
,iou ~ the lowest Practically every
professional In tn" Street took great
gle. in recommending and selling
General Asphalt 1t broke about 3
points. The stock has been IA
vorite short St!" IN tho present de-
elm" owing to tho absence of ia
N"rs bic developments ON irs oil PROV
critics.
Tobacco Products Firm.
United Retail stores ana Tohac-
co Products shares displayed firm
ness hoDhUs" OF special Developments
The United Retail stores declared a
cash dividend At g. share on It's
stock and 4 distribution 90 half
OF one share of United R"tajI Candy
a Ia,
10 statiSticisu. means approximate
~ $4,000 geo 10 IN" Tobacco" Products
Corporation a. tn. owner ~ United
Retail stores ~ tina; amount 81
36s, 900 j cash. Tn" halanc. repre-
sentS tn" quoted valuation OF tn"
United Retail candy shares 10 h.
received Insiders uf Tobacco Prod
uCts Corporation cstima,. that a,
tho end Of the current calendar
year tho corporation Viii have . total
lroht and loss surplus Of s5.G5S 600
against S..inO.0oU at the end OF 1921.
Ihe street feels confident that the
Consolidated Gas directors viii make
some announce mcut this week rela-
t-Vo 10 It's plans The stock eased
~. sliSh'lY today and rumors "ore
'urr"n, that the COMPANY, plans in
c.udot announcement Of tho propos ed
issuance III preferred STOCK The
amount was placed ~ S5o.ooo ooo.
iufavorahIe European news and
"dNanco uf 'he German bank rate
yer cent. t. 10 per cont depressed
foreign government and municipal
bonds quite "A uu,uhcr ~ nav low
records wer"l madc. Most notable of
these wer. Ftcush Govrrnmcut 7i-.s
and Ee!cluw bonds iIich-sradc do
no~'Hr uuuds wc." In fairy good