Arizona republican., 1921-11-26
IAepubIIcan A. p.L wIrel


 NEW YORK, Nov. 25.-Stocks were listless at the opening of today's ses- sion, becoming steady at midday and developing general strength before the close. The movement seemed to have its basis mainly on easier money rates, call loans declining from 5 to 4 F per cent on liberal offerings.
 Bonds again displayed consistent strength on large and diversified dealings in which five of the Liberty series established new high records for the year. An exception to the higher trend in the bond list was furnished by French n1unicipals, which reacted sharply.
 Pools resumed their bullish tactics in specialties of the chemical, utility, metal, leather and miscellaneous 6i- visions without evoking perceptible public response, but rails moved to higher ground as a result Of steady and substantial accumulation.
 In the afternoon a sudden drive axainst the shorts in Mexican Petro- Alum was accompanied by advances xn domestic issues, the Standard Oil group again coming forward. Sales amounted to 1850 shares.
 The statement of the British for eign minister dealing with the mill tary policy of the French govern ment probably contributed to unset tiement in foreign exchanges, the Paris rate falling nearly 15 points, with reactions in other continental quotations.
 Liberty issues and high grade rails, such as Northern Pacific, Great Northern, Burlington 61zs, and nu- merous minor bonds participated in the broad inquiry from investment sources. Transactions also were strong with several of the. interna- tional group of war issues. Total sales, $20, $50, 900.
 sRADsTREET's REPORT
 NEW YORK, Nov. 25.-Brad- streets tomorrow will say.
 Trade, industrial and financial re- ports present a varied, indeed, an ir- regular appearance. Wholesale trade has quieted further: jobbing trade except in holiday specialties, has tended to taper off, and concentration of attention is on retail trade, which is better, but fails as yet to reveal the desired activity in the direction o1 final distribution. Seasonal condi- tions possibly largely explain the Quieter trend in wholesale and job bing trade, although cautious buyins of closing the year with light stocks is an additional reason advanced. Or the other hand retail buying lacks tho snap often visible at this season, req sons for this being irregular weather low prices for farm produce, and ir some large centers reduced purchas- ing power due to unemployment which latter, however, does not teno [ to increase very materially as yet. Weekly bank clearings. S5,65l.65S, o00.
 COMMERCIAL BULLETIN
 BOSTON, Nov. 25.-The Conner cial Bulletin tomorrow will say:
 s.The tariff situation in this coun- try has caused speculative buying oi raw wool in this market, with con sequent stiffening of values, which il in direct contrast with the tendencl of prices in the foreign markets, ant not in sympathy with the market fo manufactured goods at the moment All grades of wool here are appre ciably stronger, but especially tn medium and low grades.
 The demand from the mills ha, not been particularly keen. althougl some buying in most all grades is re ported in a moderate way"
 CHICAGO BOARD
 CHICAGO, Nov. 25.-Wheat too an upward swing in value toda largely by way of response I IndnhsSlNlng etieH6tH VI AoA eA5 markets. The close was unsettled 1lk to IFS cents net higher. with De ceInber SLIP to $1.121z and May s1-1 to $1.15ls. Corn lost Us to 1s cent' In provisions the outcome varie from 5 cents decline to 15 cents ad vance.
 General buying accompanied tn upturn in the wheat market, but afte midday much profit taking on tn part of holders was the eyidenc causing material setbacks. Less fav orable crop reports from Argentin were among the chief bullish factor The wheat crop in the southern pol tions, including some of the be! wheat territory in Argentina, wei said to have been hurt by through Increasing seriousness of drought re ports from Kansas was also note and some hot weather damage to lai sown wheat in Australia. Further