Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-29
STOCKS TAKE DECIDED
TURN FOR THE BETTER
Gains in Active Shares Range
From One to Seven
Points.
LOWER MONEY RATES FACTOR.
4. y. steel Touchrs IOf 3-S-S-v
York Central SELLS Wen on Re-
port u Will lie Placed on Ter
Cent, DnHIs
LOWER MONEY RATES rAcron.
NY Assoclni.d rr..a

NEW YORK. Nov. 2S.-S,ock price.
look decided turn for the better
IN today's dealings. gains In active
shares ranging from TO nearly 7
points.
Much or the Impetus for tho rise
was furnished by bear operators.
VINO wished 10 remain covered over
'he holiday. and by the renewed nc
tirity ot pools, which had ceased TO
function during reaction. which had
spread over the better part OF Ave
weeks. The rapidly OF the advance
indicated that the decline In some
quarters had been oYerdone. The
higher prices attracted some outside
buying. but IL has not set reached
sufficient proportions 10 materially
influence prices,
Lower Money Rstss.
Lower Money Rates. another new
higher for sterling exchange. mum
Der OF dividend assumptions and in
crcases and the publication Of more
favorable OctAber railroad earnings
reports all helped to create better
atmosphere. but II could hardly be
said that the upward course OF prices
was governed by any OF tho.. with
professional Spectator. in control
prices OF late have moved In SEEM
Ing disregard outsIde news develop
InHnts
Standard OH shar"s look prom
ln"nt part In the advance, New Jer-
sey gaining points and California
3-s Tn. strength Of California
Petroleum. which was pushed up 5i4
rumors of it's being placed on a
dividend basis next month and re-
ports NJ iis possible absorption by
Standard ON Of California
Mexican Petroleum. very little Of
which is outstanding. jumped II
n.
Pan American Issues were strong
rising over FIVE points each.
United states steel. selling e1-
dividend. got mp a. high at l0i a-S
hut renct"d later TO 100 5-s. a not
gam ~ Rs Independent steeis
generally dragged behind the res;
of the list on the up,uru. although
bethlehem Is and CrucIblc closed at
least point higher. Equipments
made good recovery. Baldwin get
Ting 10 ilsl2. but dropping back
TO III SIS for net gain OF . ;-S
80 the Close. while American aud
Lima Locomotives Pullman, General
Electric and N"w YORK; nlrbrahe
wrre 4" IL points higher
New IorL Central Active.
Persistent bat un-orHrm@d re-
ports that Now York central viii he
placed ON a per cent. basis next
month resulted ia som" gnud buying
Of that stock. which Chased a, 3.l-t
up IS. Mod'rat. strength also lie.
5Tciop"d Ia number or other rail
shH-as. gains Of ii-2 To nearly 4
points h"Ing noted In Baltimore and
ohio. Chicago and Eastern Illinois
Chicago and Northwestern. I.acka-
wanna. LchiSh Valley. Katy" com
mon and preferred. MissourI PACING
common aud preferred, and Mar
pu-'t". Sugars were strong, being
helped by higher prices for the re-
fined product aiud"hsksr which
got down To ilil-i Yesterday c-os.-n
IL? today and closed at not gain
az three points. other irdiv!.iuaI
strong spots were American Brak.
Shoe, American T"haccu H. l.iggett
aud Myers. Manhattan Electrical
& supply aud ri"re-- S!t preferred the
gains ranging from to 10 points
The usual selling on the good news"
caused slight loss in American
Can. which announced AN Initial div!-
dsnd Of Sl.25 on the common. while
ADAMS Express broke more tina n
i've points on an announcement or
resumption OF dividends rejecting
speculative disappointment at the
8; annual rate
Money rate, were easier Gail
money opened at 4l-2 and cased
on to 4. Their" was "A fairly active
demand for lime money at as for
All matUrIti.s with few scattered
loans being mad. on 3 per cent
basis out Of town Institutions sr-,
tho rrincipai buyers OF commercial
paper, the best names command n e
3-t per Cent.
Foreign exchanges were Irregular.
Demand sterling g,t as high as
Si.j2 -. hut reacted just under L.5e
later. French francs sold as low as
ssj. Canadian exchange was again