Arizona republican., 1921-10-02

Market News
IRepubllean A. p. Leased wIre1

4OINhy OCl. ing today's brief stock session was made up largely of metals, domestic oils, steels, equipments and several of the conspicuous coaf issues.
 Coppers rose one to two points in recognition of the higher prices quoted for future deliveries. oils seemed to derive their impetus main ly from pools and Lehigh Valleys further gain was associated with the company's prospective segregation plan.
 Shorts opposed the advance in the first hours but retired when the buy ing became to insistent to be ignored, a firm to strong tone marking the close. Sales amounted to 275,000 shares.
 Dealings in bods were moderate, Liberty and Victory issues showing gains and losses at the end. Foreign issues were lower. especially French government 711s and Cuab Cane IS. Total sales, par value, aggregated s5,350, ,00O.
 An increase of s55.ooo.oOo in actual loans and discounts by the clearing house reflected the heavy transfer of funds incidental to the turn into the final quarter of the year. Reserves of members at the federal reserve bank decreased 37,000.00O and a con- traction of s43,557, ,000 in cash hold ings resulted in a deficit of reserves of practically s10,000,000.
 Business in foreign exchange was nominal, but fresh pressure was di- rected against the Italian rate and German marks, the latter again de- clining to IS. their low record. Polish marks manifested increased weak ness with other central European foe E-oc cfo .xrft1 steady, the Shanghai rate recovering its loss of the previous day.
 WEEKLY FINANCIAL 1.
 NEW YORK, Oct. 1-The strength of federal war issues and the acute depression of exchanges on Germany and most of the new central Euro pean countries constituted the note worthy, if somewhat conflicting de- yelopments of the week in the finan- cial markets.
 On enormous transactions and all most without exception, Liberty bonds and Victory notes registered gains of two to five per cent. the lat ter rising to within a fraction of par. While the demand for these issues was primarily ascribed to the recent eral reserve banks, it was also ac- cepted as evidence that the country wide liquidation of the last IS months had run it's course.
 On the other hand, the slump ir marks to a figure under S-10 of g cent, with corresponding or greater | decentralization in the quoted values of Austrian, Polish and Czecho- Slo- vakia remittances, heightened ap- prehension regarding Germany's abil- | ity to meet further obligations to ths l allies.
 1 In she stock market rails were the only stable issues. increased traffic and smaller operating costs being sem in the many additional state. ments of August earnings. The plar 1 of the interstate commerce commis. sion to merge the railroads into l. distinct groups met with little en' | dorsement among railway executives | Industrial and special stocks 1 traversed the lines of least resistance | their irregular movements most O them reflecting the mixed views o | professionals. Traders again con fined their operations chiefly to oils l steels and equipments. the net resul being inconclusive.
 I General business conditions showe' | further signs of improvement, ascrib able for the most part to seasona requirements. Activity was especial ly marked in the cotton, wooden am leather industries, there being no ma
 terial increase of production in man
 ufactured steel and iron.
 The higher ratio of reserves re
 ported by the federal reserve board i
 regarded by bankers as a strong in dication of easier money in ,th
 fourth quarter of the year. Interio banks at present are drawing on locs
 reserves for crop moving purpose but predictions are made that SO an
 90 day commercial loans soon will b
 made on a five per cent CHICAGO BOARD CHICAGO, Oct. With iquida . tion on in wheat and corn the entir
 list sagged on the Chicago Board (
 Trade today. The close saw net loss
 es of to 4Ac in wheat, T. to 34ce
 7sc in corn and 3sc in oats. Proyi
 sions ranged unchanged to 271 1z
 higher.
 Wheat opened weak and with bear l ish sentiment strengthened by tn
 few news factors and encouraged b absence of outside support, nothin that the few longs could do had an 2 effect on the market. Every bulg , brought out increased pressure an numerous stop loss orders were un ' covered.
 , BreakS at winnipeg CduSeu U hedging declines of around five cent , in cash wheat at Minneapolis an
 slow export demand, coupled with
 report that a New York intere.
 bought 10000 barrels of Canadia F flour this week, combined to brea
 the resistance of some of the mot >stubborn longs. May wheat made
 new low record on the crop.
 Hedging sales. scattered liquids 1 ton and the state of the wheat nl2i ket caused the break in corn and ca k were weaker and lower in sympath I with other grains.
 In provisions nearby options wel
 under pressure but deferred deliv'
 ries held fairly strong in the face
 the general market conditions. D' V liveries on October contracts include s 7.700,000 pounds of lard and 75O,0 S pounds of ribs.
 Y For centuries in China a wom'
 has had the choice of keeping h
 maiden name after marriage.