Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1920-12-02

NEW YORK.
sToCKs.'

st.Fr- aTtAL INnWf8 ~ SAFFnFgaS..
New York, Dec. 2.A6eliing ef
Southern Pacific which extendedxiIS35
loss to 31-2 points, impaired irregA-S
larity to the list during the first hour
OF today's market, especially among
steess and rails, where reactions rang
ca from l to 2 1-2 points,. This was
followed by a rally in the oils, Mexican
Petroleum rising S po nts. Pan-meri-
can 3, and California Petro. eum, HoMs-
ton Oil and Texas Pacific / TO ! l.S,s
Associated Oil. which figures spromi-
nently in the Southern Pacific seq
regation plan, gained 4 points. Ship
pings also threw off their. heavfness
and specialties of the Leather. textile
and metal groups advanced 4 to 81
points, shorts covering actively on the
rebound.
Call money opened at Z per cent.
the fixed rate Of the previous day. 3s
Contrary to expectations, fannouncc-
ment over night Of the Southern Pas
,cilc "melon" failed to stimulate the
stock market at h outset OF today's
session. Southern Pacific opened with
a sale Of $500 shares at a decline OF
1 j., the loss o o extending to two
points. The balance Of the list was
irregular, Mexican oils, the shippings,,
coppers and steels showing heaviness
while Royal Dutch, Atchison, Pitts
burgh-West Virginia and cheaper rails;
WHY 16iSI ny 1IdCLlOlS 10 u nO1u(.-
On the curb Southern Pacific rights
were quoted at %, unchanged from
yesterdays final price, and Pacific OIL,
the company organized from Southern
Pacific oil holdings, was quoted at so
to IS.
The rally assumed broader d;men-$
sions at midday, oils still featuring the
rise. Mexican petroleum. increased its
advance to four points and the
strength Of rails, steels and equip
ments at gains OF ! to 2 points was
indicative Of further urgent covering
of short contracts.
There We're few exceptions to the
extension of the rise in the AFTERNOON.
but increased h%eaviness Of Southern
Pacific and profit taking elsewhere
caused some irregularity at the close.
Sales appropriated 10000 shares.
MONEY.
New York, Dec. 2.-Prime mer-
camille paper Z 3-4 @8 per cent. Ex-
change steady; sterling sixty day bills
s3.43 5-8. Francs demand 6.07;
cables 500. Lire demand 3.67; cabley
$50. Marks demand 1.43; cables
LAT. Greece demand $780,. New.
York exchange on Montreal IL 3-S
per cent discount.
Government and railroad. bonds ir-
ASSo II 1SdliSH S-CAdy w d %
30 days and s months, Z 1-4W7 l.:
per cent.
Call money steady; high d; low q;
ruling rate Z. 3
PRODUCE.
New York, Dec. Butter easy;
receipts 1854 tubs; higher
than extras 81 1-2 to So; extras co.
%score) 81; firsts (SS to 81 score) As
TO SIS.
Eggs ste.ady: receipts 6,7so cases.
Fresh gathered extra firsta SO to IS;
ditto firsts rs to 81.
: Cheese steady; receipts 1912 boxes.
State whole milk flats, held specials
81 to 2S 1-2; ditto average run 241-2
to 20; state Whole milk flats, fresh
specials rs to .es: ditto average run
% 1-2 to "a.
METAL.
New York. Dec. "copper" stead
! Ter: electrolytic spot and nearby 13
ga to Ia; first quarter 13 ga to IA.
Tin steady; spot $500; futures $3.50 to
$500; iron nominal; No. 2 southern
secnnd hand 5000 to $500; anthony
5.75 TO 600; lead weak: spot 500
to $50; zinc steady: East st. I0ris