Arizona republican., 1920-08-22
News
LRepubIIcan A. p. Leased Wirel

Republican A. p. Leased Wire1
 NEW YORK. Aug. 21.-Shorts were at the mercy of bull pools in today's brief but fairly active stock market and suffered further punishment as they were driven to cover in popular speculative issues.
 Additional gains of one to almost seven points were scored by steels, equipments, oils, motors and war spe- cialties, these being largely featured by Replogle Vanadium Sloss- Shef- field, Gulf States, Crucible and Beth lehem Steels, American and Baldwin Locomotives Mexican Oils, Interna tional Paper and American Writing Paper preferred.
 Canadian Pacific. Reading and Balti- more represented the appropriations, but eased with the general list in the selling for profits in the final dealings Sales 225,000 shares.
 The bond market was variable, firm ness in liberty issues being oIIset py irregularity in some rails and indus trials. Total sales, par value, S3,17o.- 900. old United States bonds un- changed on call.
 NEW YORK. Aug. 21,-Domestic and foreign problems left their impress sion upon the sureties market this week, although many losses of the first few days were more than covered III tn. broader dealings later.
 To disinterested observers the de- preciation of prices resulted less from liquidation than from short selling, the bears taking fresh courage from the absence of anything appfoximating buying power.
 First signs of covering movement accompanied the improvement in the Polish situation. This also was help ful to the market for foreign exchange in which British rates had shown weakness
 The opinion prevailed that the more serious economic conditions resulting from the war have been safely over come. This. it was contended, Is borne out by the current showing of leading industries, notably steel and iron. al- though some kindred lines of manufac ture are subject to cancellations.
 The credit situation, according to representative financial interests man ifests indications of relaxing, but easier quotations for long time funds are not anticipated until the turn into the years fourth quarter.
 Better trade conditions are expected from the garnering of the big crops ana September interest and dividend pay ments ,as well as more stable labor situation are likely to find reflection in larger railroad earnings.
 
 CHICAGO, Aug 21.-Heavy rains last night were reported from sections of Illinois that have been dry for long time, causing a break in wheat prices today. At the start the market was unsettled, with December down 1c at $2.36, while March started Ac higher at s2.3S1a, both deliveries soon rang ing from to 315. There was rather general commission house selling of corn in evidence.
 Heavy rains of the past 24 hours were said to have eliminated drought talk as a market factor for some time to come. After starting hc lower to Ssc higher, with September SLAB to SLAM, and December S1.21A to $1-22, the market declired, but later rally checked the drop.
 Oats sympathized with other grains, the sentiment being decidedly bearish. After an unsettled start with prices 1sc lower to 2Ac higher, with first prices for September at 67xc to CSC, and De- eember s1.195s to sl.le&, the market eased off.
 Provisions ruled fairly active, initial quotations ranging from 15c to 200 higher.