Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-03
MARKET PRICES ADVANCE
DURING BRIEF SESSION
Short Covering, Pool Opera.
tons and Fresh Buying
Is Stimulant.
IN .nEsERv
Clearing House Statement show.
Loss Tor Third Consecutive Week.
french and Belgian Currencies
Show Little ChnnRe.
fBy Authenticated pre,,l

~.
NEW YORK. Deo 2--Resumption OF
snort covering and pool operations
combined with fresh buying OF a few
Individual stocks for special reasons
brought about a further Increase in
prices in today's brief session of the
stock market
Some pront-taking was in evidence
on tbs part OF recent buyers. par
tlcularly In the coppers and the rails.
but most of tho offerings were alb
sorbed without diffioulty. New York
Central. Cerro DO Pasco. Kennecott.
Crucible and Associated Dry Goods.
being tho most prominent shares un-
able to hold their previous gains.
The declines. however. were modcr-
American SNUFF Advances.
Some OF the high priced industrial
shares were bid up in rather spirited
fashion on reports Of possible sur
plua distribution. American snufr.
jumping nearly nine points and I.oril-
lard Is. the latter. however. later
canceling about half its gain All
American cables ciossd d "a higher
and gains OF 3 10 nearly = points
were recorded by Elkhorn Coal. pre-
f-rreh. Loose W.les Biscuit. National
Cloak and Suit. owen Bottle pre-
ferred. Studcbaker and Union Tank
Car.
International Harvester continued
under pressure as result Of the
directors intention 10 discontinue
the stock dividends, dropping IL
points. Fisher body csta blished a
new high for the year At ls5 rs and
then dropped TO 1872 -. for not
loss Of . "a on prout-taking Some
OF the reccn, buying az this STOCK
has been for account OF W. 6. Duran,.
who is seeking an interest in the
company. WOOlworth dropped l-2
points on small turnover.
Only fractional gains were regis
tered by such representative shares
as Baldwin. United states steel com
mon. Bethlehem y. chile Copper and
tosden. American WOODEN American
HYDE and Leather preferred. intcrna
tionnl Paper. Keystone Tire. North
American Mexican Petroleum. Pan
American. producers and rcfinci- and
Standard OILS Of California and New
Jerscv moved UP 10 , ~ points.
RAIL Changes tnInportnnt.
Except for few substantial gains
In such ordinarily inactive stocks
as Louisville aud Nashville. "Nickel-
rlate," Rock Island per cent pre-
frrred and Lake Erie and Western
preferred. the changes in rail shares
we're generally uu!mportaut. De
RAND sterling touched {t.a2 SIS. IT'S
highest price In thee years. In re-
spouse To brisk demand here, pre-
sumably to meet payments on i'm
ports. French and Belgian curren-
ciea showed littie' change aud other
European rates were irregular.
The clearing house statement
showed deficit In reserve for the
third consecutive week. the total be-
ing E.t72.lao or :i.ooi.lso below the
week before. Loans. discounts and
Investments increased by ss.3sI.000
ami the reserve Of member banks in
tho Federal reserve bank Increased
by t2.520.900 Net demand deposit.
were t35.t:5. coo more than the week
before. but time deposits dropped
t5.sos.001. Aggregate reserve to-
tailed s60s,o6s.oGo
The days total sales were $4,000
shares.
Twenty indus,rials averaged $3.50.
net gains "a; high, 1922. l0343; low.
1859.
Twenty railroads averaged s3.Ss,
no, gain - high. 1872, 1899; low.