Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-27
INDUSTRIAL STOCKS
WEAK: MARKET SAGS
When Session Ends Net Losses
Range From Two to
Four Points.
FINAL QUOTATIONS. LOWEST
HeRNine>> Hep"-trd Due Ia Fact OF
Generally o,crbonEht Condition.
0mcini~ Of steel Companies Arc
OptImisur on Eve of Meeting.
~, Urontlap NIL.


NEW YORK. oct. 2d.--The weak
cred technical position of the indus
,ral department caused the whole
stock market TO saE today. ThOs"
issues which recently have been most
prominent naturally w"r" under the
greatest pressure. When I'll, season
ended. not losses ranging from To
points were shown 10y most shares
offerings were liberal up to tho close.
final quotations being at about tho
lowest
In tho early tradirr PENNSYLVANIA,
Baltimore and ohio. Ncw Iork Cen
trial AMI Reading were strong. but tho
heaviurSs in the Industrial depart
mcut hcCam. 50 acute that the trans
p"rtation group finally weakened un-
der the strain. Increased momentum
|" the downward movement; in the
rails was furnished by III. action Of
TIN" Central Railroad OF New Jersey
IN declaring only tn" regular divi-
dond. This stimulated offerings Of
heading. which would h4v" benefited
materially from any extra dishursc-
mcnt by tho Central Railroad of New,
Jersey.
TALL Money Hate Rises.
hanhs wcr" reported 10 toe calling
loa"s as tho call-moncy rate rose
from +l.2 10 s per cent. where it
closed. Weakness IN tho bond mar
ket also contributed 10 the feeling OF
r"ssimiSm with regard 10 stocks
enc "f tho biggest and most active
operators ia tn" Street said that the
hc"Nin.se WAS due ~ the fact that
the stock market was In a generally
"Tcrb"ughl condition. which could not
b" supported because nf the absence
OF Sufficiently favorahl. news In
view OF this condition, II did not take
very heavy volume of offerings to
start reaction which gained mo-
mtutum as stop-loss order. close to
thr market wer" uncovered
Eroh"Tae" houses were busy in
many Instances sending ont margin
calls this 'v-n'ns Many undoub,cd .
iy VIII elect 10 Soil their holdings
rath"r than put ~ additional funds
support was disC"rncd here and
ih.r" IN tho list Insiders Of mo
Stud.hakcr w.r. reported as substau-
tial buyers "f that stock on tho way
down
Accompanying The hcavin.ss Of
Tobacco Products - stock yer.
reports that new financing WAS hcinL,
cons !i-rcd Investigation dcv.lonrd
mat Ia, United Cigar stores Realty
company cnnt"mpIatrs selling from
>i.'"O."o0 10 $4,000 UU %; bonds To a
l.. eminent local banking house. This
mon! cannot he touched by the
'h1ted '!Shr stores, ana Viii he used
""i! 10y tn, realty company for the
pHrrhas" OF new huild,nIs when. as
AID ~ Needed
Dealings in Loft candy stock .<-
pHni.'i h~Ctus. OF kncwIcdg- that
hSE". i"lonS are under way for the
"'S'.rl"n of the company 10y tho
h'i"1 Retail stores Loft stock a.,
".' '.he Sh""od gain OF moro than
.'"'ni and sod Within point Of It's
'"ln'." Products Expands.
i'H"i.rss Of the Tuh..,,o Iroduri.
'''r"Ha'"n continues to ,Nuaud
''" ''.l estate hoiHinss ct ia. United
i..-' sores az" appraised at from
S"-'""..Vo" 10 $%3."0U."0o. The Latter
."''.''""H - i''riNIi!s a hanGSum- re-
'"li IN ita iHv-stmcats in real estate,
rHio.a.s az s,.. companies ar. an.
l..-!thE ~ this city to attend I'M.
ine'iiHG OF tn. American Iron ana
&C! institute scheduled for tomnr-
row. banker whu talked to SOM.
~ St""I executives Says they are
"""'''at''. one 3. ok"raE- hOuS,. in
'"' Ia" us customers today tha; il
NH"'r",""d that Jud.- GARY. chair
man 81 TIA" United Sturyc steel Cor
l''r" yen, III MS address would sa,
mar books are nIrd with orders ann
TIE "'iIanH iur -v'Ty kind ana char
"'''f 90 steel s. Tar IN .Murss of I'M.
y"P"'NA 90 the utustry to proau.,
ms arm also NH,l Judg, oar. w,rIl5
Stat, iAat had u not .,yar. for M.
STRIKES ia, steel husincs.. xoi,ia p.,y
perity in history
ne S"n-rai bond mnrkc, was h.av,.
ihrouEhout the day
!'""r."E> of IN" latest I-ni,.I
STAT sDyermm,rt bonds i,urnr,.t
'-a"sS 20 ~" price. There is