The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-11-18
FLUCTUATION IN
STOCKS NARROW
Spectators for Decline
Unable to Influence
Market Appreciably

NEW YORK. Nov 7.--speculat-
ors for the decline resumed their
operations at the beginning OF to-
days stock market, but were un-
able 10 make much headway except
in few Independent steel. public
utility rubber, low priced rail and
oil shares. fluctuations being with
ir much narrower limits. The gem
rral list showed better resistance TO
pressure and while trading was not
very extensive, closing prices were
mainly higher.
Dividend paying railroad shares
generally showed fractional gains, a
few like Atlantic Coast line, Cam
adiHn Pacific and Lehigh Valley
moving up more than point.
Agreement OF house leaders to take
w the ship subsidy bill next Thurs
day with a final vote on November
90. stimulated the buying OF ship
ping shares, marine, pfd, gaining
~ points. American international
corporation. 2k and United Fruit.
o.. Declarations OF the regular divi-
dend by Pacific oil failed to bid
mp tho stock Bear interests
launched a drive against the stock
Ia the early part of the session and
u fell to AN However. the vol
ufle OF plltIlllES DIbukAI OUT was
disappointing and the stocF bounded
back 10 46 for loss OF * below last
nights close. Changes In other oils
we're mixed Standard OH of New
Jersey solb off n point and trac-
tional recessions were quoted in Cali
fornia Petroleum. Houston Oil, Mex
.can seaboard common and certifi-
Gates, Pierce oil and Standard oil
OF California were higher.
United States Steel, common,
moved up a point to 1O4%, but
some Of the Independent steels were
hweak. Bethlehem a sold off nearly
~ points and b declined u while
Iackawanna. Midvale and Nana-
dlum sold Off small fractions to
point, Gulf States Steel moved up
nearly points.
Weakness was noted In the Erie
issues. Chicago & Alton, pfd., Chi
cago q Eastern Illinois, Katy, COM
mon and pfd.. and Missouri Pacific.
common and pfd. A break OF near
" points in Consolidated Gas had
a depressing effect on some of the
other public utility shares.
Equipment, can and textile shares
we're strong. Baldwin moving up
. =; Associated Dry Goods, / x and
American Can, l%.
Total sales were $4,000 shares
Call money opened at 4la per
cent, dropped to 4 before noon and
then to 80. the lowest rates since
September IS. when II closed at
3 Y per cent. Time money contin-
ued on s per cent basis and COM
mercial paper at AZ.
Sharp recoveries took place in for
oign exchange, demand sterling get
ting lust below s4.lS and Franc
ahnptyo nrneetpp 10 fIrgf titpa
in two weeks.
Strength OF foreign government
securities. unsettlement in the do
nestle corporal i0n list and slight
depreciation OF United States gov
ernment bonds were the main de-
yelopment in today's bond market.
trading in which was quieter than
usual.
Prague les. which were the
hardest hit I'm the recent reaction in
foreign bonds, made the best recov-
cry today. gaining points.
The weak spots In the railroad
list were Southern Pacific converti-
BILE SIS. Erie rs, Peoria e Eastern
chester q Boston 1-2s, the de-
clnes running from l-2 to 81
points. Gains OF to IA points
were made by Baltimore & Ohio
4S and Is. Chicago, Burlington &
Quincy general As and Louisville q
Nashville' Us.
American Telephone 6s broke
2 1-2 points and losses OF | to l IL
took place In Llggett & Myers 5s.
Bethlehem steel retunding 5s, Mon
tana Power So and Brooklyn Rapid
Transit z per cent certificates. Cuba
Cane So, Chile Copper Is and Lack
awanna Steel 5s were strong.
Total sales. par value, were Si2,-
$4,000.