Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-08-22
Markets NEWS
NEW YORK


New York, Aug. 22.-The stock
market was nervous and unsettled to-
day, fresh liquidation being provoked
at the outset by announcement Of the
financial embarrassment of q well
known brokerage house.
More than a score of new low rec
ords for the year were made during
the morning. Offerings moderate
but steady and the numerous sharp
reactions between sales, sometimes
ranging from one to two points, testi-
fed to the involuntary character OF
the selling.
STOCKS.
New York. Aug. 22.-Selling prog
ressed steadily on the stoc kexchange
today involving many new low rec
ords. These included Sears Roebuck,
American Sugar. Pierce Arrow, COM
mon and preferred. Hide and Leath-
er, Central Leather, United States
Rubber. Retail Stores, Houston Oil.
Royal Dutch. Westinghouse and Gem
eral Electric. Pierce Oil. common and
dropping eight points. The urgent
character of the liquidation was indi-
Gated by a transfer Of one block of
$500 shares OF Sears Reebuck at SO.
a decline Of 2 LIS points. Many other
industrials and spectalties forfeited
one to three points. Rails were the
only issues to hold. their losses being
limited to an average of one point.
Call money opened at 5 IL per cent.
Sentiment in stock market. circles
was adversely affected at the opening
of ,today's session by the failure of a
prominent brokerage firm. Oils,
steels, equipments. motors, tobacco
and food shares denoted fresh liQui-
dation. Within the first fifteen min
utes decline of 1 to 2 la points were
registered by Mexican and Pan-Amer-
Baldwin Locomotive, Chandler, Stude-
baker, Sumatra Tobacco and Ameri-
can Sugar. Bethlehem and Crucible
steels as well as General Electric,
Retail Stores. Industrial Alcohol and
Famous Players also were heavy, the
rails sustained moderate losses.
Mexican Petroleum., Retail Stores
and several other active stocks rallied
in the afternoon but minor issues con-
red, increased its loss to nearly is
points and Vanadium, Republic Iron.
preferred, Shell Transport, Famous
Players and International Paper were
heavy.
Rails, including dividend paying
shares finally gave way with the gen.
eral list Pacifcs. grangers me
coalers reacted 1 to 21-z points in the
last hour. The closing was weak.
New York, Aug. 22.-Butter un-
higher than extras, Al 1-2@42:
creamery extras CO. %score). Al:
creamery firsts (81 to 81 ~score), 81
@4o IL.
Eggs irregular; receipts, 12.132;
fresh gathered extra frsts, 5000;
fresh gathered hrsts, 1906.
whole milk fats, fresh specials, 21@
Fl 1-2; do, average rum, 10000 ID;
state whole milk twins, specials, 81
@2121-2 do average run. 200 70 IL
MONEY.
New York, Aug. 22.-Prime mer'
camille paper SOS Ia; exchange
weak: sterling 60 day bills ISL Ia
Francs demand $50 1-2: cables
Marks demand 1 1-2; cables l 1-2
! sweden demand 21.13; Norway de
mand 13a5. Montreal 10 1916 PEI
cent discount.
Government bonds heavy; railroad
bonds easy.
Time loans steady; 60 days, 81
days, s month, s 3-4@6 per cent.
Call money hrm, high, low ant
ruling rate S L.; chasing bid S.
METAL.
New York. Aug. 22.-Copper easi
er; electrolytic spot and nearby 1
7-S@12; later 12@12 Ia.
Tin steadier; spot 26.25; future
26.12. III.
Iron steady; No. 1 northern 900
@22.00: No. 2 southern 1900:
Lead steady; spot 4.40.
Zinc quiet; E.. st. Louis deliver;
spot 4.20.
Anthony spot 4.50.
COTTON.
New York, Aug. 22.-Cotton future
closed strong: October, 1888; Decem
Der, 1899; January, 1895; March
1903; May, 14.15. s