Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-11-25
SPORADIC RALLIES FORCE
AN IRREGULAR MARKET
Apparently Earh Strength
Turns Into Weakness Short
ly Before Close.
LIQU1DATION TAKES PLACE
hhf-Henrted Why Upward Trend
Progresses Also Induces Short Sell
inE-Timc Money More Plentiful.
Foreign Exchange Bu,ine>r Quiet.
LIQUIDATION TAXES PLACE,
he Asancln,ed rrcssl

NEW YORK. Nov. 2i--Pric.s IN to-
nhE market were again irregulnrIy
lower.
Sporadic rallics In Individual is
sues. combined with rather extensive
short covering on tho theory that
tn" decline had been ovcrdon" and
'"chu'cai conditions warranted a rail-
~. Eav" the market the appearance
~ strength during IN" carly par,
~ tho session. but tn" half hcnrt-d
way N which tho rally progressed
induced further liquidation and EhO-,
selling. which spread way. OF
weakness over the list at tho close
Equipment. food. Dll, textile auI
motor stocks rallied 10 . points
above yesterdays closing prices oil.
tic rebound, - G!d some Of tho
which there we're Indications OF In
"cstment buying. Consolidated Tex
tile was one 81 tn" most active
shares on tho market. Guctunc!ug
within a 2-point radlum and closing
~ slight fractional gain. ha-
ISOLATED Dry Goods improved more
than points.
Independent steel shares were
again subjected 10 short prossurc.
nut they offered moro stuhhorn re
s!stance- United States Steel com
.
wcrn unchanged. Republican moved
UP point. ana Rcploglc and vandium
fractionally. while Bethlehem u and
Cruciblc declined onc-quHrter and
three quarters. respectively.
oii Shnrrs Yield More Easily
Standard Oh shares yielded moro
easily. standard OF New Jersey be-
Ing down almost 3 points i, one
time. ana closing "a, lIOl-i. or 90
points below the high ncuro rcachri
Just before the declaration OF the
stock dividend. STANDARD OF n
California was Gown 2l-i ana Con
California Petroleum and tho Pan
American Issues moved to hlgher
ground
Relaxation ot pressur" against
some OF the railroad shares resulted
In mixed changes at the close CHI
caSo aud Great western prcferr"d
broke points. ana Delaware and
hudson yielding he. hut Laci.a-
wanna Improved IL and Illino!.
Central preferred 3-s. most az the
other changes being " Il fractional
character.
Utah Copper got az high as Gle
on publication n the quarterly re-
ports ot tn" purphyry companies
sh"wing marked Improvement on the
earnings. but II "ascd oH to Co 81
at IN" close. Stud"bak.r climbed 10
l2i Ii, huc u was picket out az
,hrgc, by shor, interests towards
IN" close and Knocked down go i22
Is. Fisher Body guyc another
Demonstration az strength. climbing
points, White DAWSON Chemical
lapscd into another period ~ weak
ness. losing 23.S
CnlI Money Advances &" Five.
call money opened and .rucwed a.
i3-+, and advanced 10 in the lnt..
afternoon, closing q, that asurc.
Time money was moro plentiful to-
day. som" thIr;y-day loans being mr.
ranged on a. per. cent basis. The
Longer matur!tics continue 20 SOM
mnnd per cent, The commercial
paper ,narke; was comparatively
puiet Win tn" rul!nw names com
maud!ng : 81 per cent.
Foreign exchange business was
again quiet. prices tuctUai.ug with
lu nnrruw limits. Demand sterling
was quoted around SI4.I-i and
French francs around 7l3 silver cx-
changes wer" weak IN reflection OF
the recent uTbn I'm silver ..rir.e