Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-17
MARKET IS AFFECTED
BY BEAR ACTIVITIES
Professional Traders Bring
About Losses in Number
of Issues.
CALI MONEY IS iownu
Declines From Five to Four Fer Cent.
RrSulnr Dividend on Pacific OH Is
Announced After Closc-Short Sell
Ing in Rond>.
lty uron,inU W'oI.

NEW YORK. Nov. lS.-Thc stock
market gave way again today un
doT another onslaught of selling by
professional bear traders Net losses
ri tn" close %: business ranged from
ono to three points. one big opera
tor. whose name was frequently men
TONED duriDs tho last bear campaign.
was reported to to u heavy seller
throughout the season There were
no news dcv"lo. UcutS to account for
the resumption OF the downward
90 WoNucnt Professional bear traders
continued TO seek issues i'm which
there was little or no support. These
SHARES were attacked and the re-
Su!iant sharp breaks unsettled con
hcence I'm other issues and resulted
r In increased offerings of standard
. sharcS' General Asphalt, Intcrna-
tlona! Mercantile Marine preferred
u. :. Industrial Alcohol. Gulf States
steel ana Crucihle steel were ham
merod all day and used by the pro-
''S>lonaIS to undermine confidence
IN other parts of the list 4 gen
orally strong uudcr;one prevailed up
to midday when General Asphal,
, began TO show pronounced weak
ness and touched a new low for this
"'"Nehl'n, The close was weak and
around the lowest quotations
Call money declined from . to :
per cent, but no attention was paid
to II marHciwiso
American international wenL.
rHkn'Ss OF American Int.rna-
tion"i was attributed to tho sharn
bIrnk "i NOR" than three points in
international Mercantile" Marine pr,-
'crred. 60; which the former is a
large holder. Eumurs were current
,h"t '"e S'miannual dividend soon
que on Marine preferred would hr
passed ana that tho American Inter
n"''"n"i Corporation was liqu.dat-
ms It's holdings
For weeks there hav, been many
conflicting rumors concerning tn.
dividend "u Pacific oil som. Of
thcS. Stori.. said il would hc ort,tcd
an" others that il would hc maid
Aver the close the regular. dividend
MAS announced. The stock was
strong all day in anticipation OF the
',''i"n taken. Following tho divi.
dtnd announcement persons shor, az
the shares said Il would provo IA
tn" last dividend
stocks the last week seem 10 rn.
srond hu; little upon the Announce.
in'nt "i increased or stock dividends
ms. would Indicate that peop,. ar.
not III mood 10 purchase a, This
level '"'s
General Motors Declares Dividend
II seemed 10 he generally under
500" IN the financial district ;ha,,h,
Genera Motors directors. after III,
cos" ~ III" stock market would 20.
SH"'' "lNiG"nd payments on tn.
common stock The share. vnrc
strong IN anticipation of such action
Late III tho day thu board ordered
the payment OF dividend Of 80 cents
share. The payment Is declared 10
.. lust specia! dividend
Noon Motor was another automn-
hiIc stock TO show bc,tcrm.n, =,
anticipation OF better treatment IN
s"aT"hoIdrrs Thc belief is that nav
".h's VII! l.. increased To s2asharc
fublication in this column Of IA.
N"rahi. figures relative to the i'm
n'"."" business being done hv H.
h M"II'nSon q Company accounted
i"r an carly rise OF one pint In M.
shares 81 ''e
short selling has spread 10 m.
pond market. Shorts in Brazil b,nJs
received severe licking today. The
Sl"F'rG ruinorS early In TN, ,v..i,
'nht the December in,crcs, ,,,,,n
mot he paid on the and pcr con,
issues Notwithstanding thar m.
bankers had announced IN. funa.
Wtr. already on deposit
The genera! bond ,n,rk., sbo,,
o','cr uhdertone. Foreign govern
'hth's were higher i good IN
curry continued for high grade ma
Speculative rails ''u