New-York tribune., 1918-10-22
Wealth Markets and Commerce
Relevant Comment
Enemy Note Unsettlcs Stock Market

Enemy Note Un6ettIcS StOck Market
The unofficial text Of Germanys
latest communication to President Will
son in the matter of peace was pub
lshcd yesterday during the last. hour
Of trading on the Stock Exchange.
Hardly enough time elapsed before the
market closed for the trading commu-
nifty fully to express its reaction as
to the effect of the latest enemy
maneuvrc on the world situation. Pro
fessonal traders seemed unable. to for,
mulate their views consistently, and
their uncertainty was reflected in an
irregular movement Of prices toward
the close of the day. The wireless re-
port came out too late to be ade-
quately digested by the stock market.
but there seemed to be no dissent
from the view that the reply WAS unsat-
isfactory. Although some issues gained
after the text was published, many
stocks which had before enjoyed sub
stantial gains, reacted point or more
Nevertheless, at the close many stocks
were considerably above Saturdays final
levels. Although the volume of trading
was not us large as the high mark
touched last week, 1.O28,9O0 shares we're
dealt in. Men competent to speak for
the financial community insisted on
Withholding comment until the official
text of the new reply becomes avail
able.
New York's Share in the Loan
Leading bankers were confident yes
terday that final Liberty Loan statis-
tics would show an oversubscrlptlon
for the country as whole ana
larger number of subscribers than
participated in any of the preceding
war loans. In some quarters IL was
said that the allotment of 80 per
cent of the national quota to this dis
to what an extent the Federal Reserve
system had decentralized the money
holdings Of the nation. Nevertheless,
it was generally conceded that New
York had filled its quota of S1,S0O,-
600, 900. 1t was reported that trading
in the Liberty bonds of the fourth is
sue would probably begin on the
floor of the Stock Exchange next
Monday.
Southern Pacific at l05
Southern Pacific shares we're more
urgently bought in yesterdays stock
market session than on any occasion
since the beginning of the recent up
ward movement. Closing at 105, the
top price, the stock showed gain of
more than Is points in little more
than week. and it now stands at the
highest level since 1913, when it sold
at 11O. No new explanation was Of
fered for yesterdays rise. However,
emphasis was again laid on the pos
sibilitics of q decision favorable to
the, company in the litigation with the
government over the title to a
large acreage of California oil lands.
Nearly 121, 900 shares changed hands.
Noonan a Lieutenant Colonel
Friends OF w. J. Noonan, who up to
the time he enlisted as a private in
the gas mask division of the national
army was assistant to Charles L.
Mitchell, president OF the National
City Company, were pleased to learn
yesterday that he had been made u lieu
tenant colonel. Noonan went to Wash
ington soon after the United States
entered the war and was soon made
lieutenant. Later he became a captain
and then major. He is twenty
seven years old.
Mex Pete Bonds Jump
Mexican Petroleum per cent bonds
made a new high record for the year
on the stock market yesterday, selling
at 1919. That compared with sale
at 1481s last week and 106 last April.
The stock after selling as high as 1856
reacted to 1904 and closed at 172, off
81.