Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-03
|C BOARD RECEIVERS
FROM REGENT REACTION
CIV York Stock Market Bid
Up in Spirited
Fashion.
ARK TOUCHES NEW
srinnn Coin Sells Under Two Cents
n iundred-i.nrScu Gains Ara
Recorded In on, Equipment. UtH-
lty and RniI Issues,
IBy Associated prcss.l

lBy associated PrcSs.l
NEW YORK. Nov 2-Substantial
coHery from the recent reaction
- ucnd!ng over period OF nearly
rec weeks took place In todays
ock markt. prices throughout the
IL being bid UP In spirited fashion
ith tho active issues shOwing gains
81 ! 10 Is points.
The downward course OF prices had
zen In the nature Of IA correction
an overbought condition resulting
ON speculative cxccsScs Incidental
the declaration OF stock dividends
nd rumOrs OF the same. Indications
lnt the reaction had Lecn 0vcrdonc
ist as the previous advance had
cen. were seen In the manner in
hich stocks rcboundrd today, buy
x embracing "A broad list and be
lg particularly active In Industrial
inrcs which had borne the Drunt OF
H. short selling.
short Covering Furnishes Impetus.
short covering furnished the impc-
HIS Tor the early advance. but as an.
ain body OF ia" stocks swung up
lard. there were Indications OF new
iyinS by Investment interest found-
on the constantly improving
Nus mess situation. THIS was reflect
Ia record car IoadinYs. Increased
automobile production in October
yer IN" previous month. better rc-
III business as rirror"d In the
at"mcnts OF chain stores aud
irthcr talk OF extra dividend dis
urscmcnts.
Good absorption took place
iroughout the day despite n rather
envy volume OF realizing sales and
- Extensive Liquidation on behalf OF ii
Bankrupt brokerage house.
II = dliiicult TO pick out any one
8roup as being the most buoyHnt.
ut some OF the largest Gsins were
ccOrdcd in the oil equipment, pub
4 utility and ran shares.
Rail order. Are Heavy.
Buying In the equipment group
'as stimulated ~ announcement Of
&dditiona! new aud heavy orders for
4ails. cars and locomotives. baldwin
= nd American locomotives. Smcr!-
AN Car. Pullman. General Electric
nd Railway steel spring being
ushcd NJ three to nearly slS points.
lcciaratiun OF an IS per cent stock
: iv!hend by American Steel Foun
rics found reflection In Il three
oint not gain In that stock.
Public Service OF New Jersey lod
! nc advanc" ia public utilities. gain
9ns 81 4 points, buying o! this stock
! accompanying reports Of an incr-as.
rom 81 Ia s. In tho dividend rate.
3,thcr strong spots In this group
: were Consolidated Gas. Brooklyn
Edison. Pacific Gas. Columbia Gas
american Express. all up two TO nye
points
Mexican Petroleum was IN. out
staining issue In tho oil division.
Gaining nearly six points. other adj
Ianccs in this group Included stand
1,rd OH OF New JERSEY. Pa: Gen
lral Asphalt 2l-s: the preferred
n Il. a az
III California. "a.
Relief that the October earnings
placements Will make much better
fhowIng than those for September
nnucnced the buying OF railway
I,harcs. the rally In which was led
Py Reading. which registered a two
point gain other shares which re-
|'ordcd advances o, il2 points o.
more Included Union Pacific New
York Central, Lackawanna. Louis
,t;ile and Nashville. Rock Island and
chicago and Northwestern.
Steel shares We're not as buoynnt
las some OF the other standard
/ rnups. bur both United S,st-s Steel
|'ommon and bethlehem Il improved
y IL points. while Republic. Nana-
Hum and CruciDl- h.d slightly bet
her. Reports Of AN Increased domes-
bic demand for copper were rcspon-
sible, In part. for gains Of point
or more In American Smelling. Utah
land Chill. National jumped Sig
points on announcmnt OF an increase
I'm the price OF that product.
Total sales were 995.l00 shares.
Call money held firm a, 3 per cent.
Time money and commercial paper
rates were unchanged. Sterling was
steady. hut Continental Exchange
rates were weak, German marks
dropping TO new low record. under
Q ccn.g