Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1921-12-02
Market News
rRepublIcan A. p. Leased wlre1


NEW YORK. Dec. Stocks were
hesitant at the outset of the days
trading but came forward later. New
high records for Liberty bonds and
the strength of international remit
tances were favorable influences. De-
cember interest and dividend pay
ments were inaugurated without
strain to local reserves. Call money
opened at five per cent, eased to Az
at midday, but rebounded to five
per cent in the final hour and
touched 51s per cent on belated bor-
rowings just before the finish
Dealings in the principal foreign
exchanges. especially British. French.
Dutch and German bills were on an
extensive scale. Announcement that
the Washington government will aid
in the proposed reimbursement of
Europe's fallen curriencies was
paramount factor.
In the stock list representative
rails and several European and do
nestle oils were the outstanding fea-
lures. Standard Oil of New Jersey
continued its upward course at a net
gain of 91s points.
News of the extra dividend on Chi
cago, Burlington and Quincy enliv-
ened later dealings. Hill issues, which
will derive substantial benefits from
this disbursement, reacted from their
best prices and other leaders gave
way on profit-taking sales.
Steels and kindred issues were only
moderately responsive TO reports long
prevalent that steps are being taken
to merge some of the better known
independent companies. but shipping
and numerous specialties made va
riable gains. Sales $4,000 shares.
Demand sterling at 4.0T7s showed
a gain or 7ss cents to the pound and
francs, guilders, lire and marks were
higher by IL to % points. the neutral
remittances also making material
gains.
Heavy realizing caused most of the
Liberty issues to react from their
new records. Other domestic bonds
were subjected to the same influence
es and internationals were heavy on
the sharp reaction of French govern
ment TVS and SIS for which no logical
explanation was forthcoming. Total
sales, par value. s24.276,000.
CHICAGO BOARD
CHICAGO, Dec. Trains in Texas
and Kansas as well as In southern
Argentina had a bearish effect on
wheat today. Prices closed unset
tied, Il to 1bnet lower. with De-
cember s1.13k and May s116% to
S1167s Corn finished Z cent off TO
a shade advance, oats 4 cent down
TO lige upturn and provisions rang
ing from cent loss to a gain of 219c.
Wheat prices fluctuated rapidly
and at one time the May delivery was
up to 13 cents above the recent low,
but the pet bull factor. dry weather
could no longer be made so service
able as late and the market was left
without sufficient support to with
stand increased selling to realize
profits. Reports indicated that the
rains in the southwest fell mainly in
sections where moisture was least re-
CURED. Many traders. however, were
persuaded that more rains would fol-
low. and il was only for a brief time
that attention was given to estimates
putting the condition of the winter
crop in Texas as low as 90 to 25 per
cent of normal Bulls failed also to
make any permanent Roadway with
| talk of better domestic milling de-
mand. the smallness of receipts and
| the chance that Germany would be
| given more favorable terms for pay
( ing reparations.
| Wet weather tended to steady corn
and oats Notwithstanding heavy de-
/ liveries of oats here on December
contracts. Feed stuffs were general
/ ly selling above corn on a pound for
pound basis.
Provisions we're very dull and
| averaged a it'll lower with higs.
FOREIGN EXCHANGE
NEW YORK, Dec. Foreign eX-
/ change; strong: Great Britain, de-
/ mand, 4041s. cables, 4.05; France, de-
! mand. 1885,; cables. 7.2e; Italy, de-
mand. 4.271k: cables. 4.2S; Belgium
/ demand. $685.; cables. 100; Ger
many. demand. .35; cables. .351i
! Holland. demand. 1858; cables. 1853;
/ Noway, demand. 1870; Sweden. de
mand, 1915; Denmark, demand
1855; Switzerland. demand. 1912;
{ Spain, demand, 400; Greece, de-
mand. 40; Argentine, demand. 32.37;
Brazil. 1872: Montreal. 81 Z.