The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-06-10
IRREGULAR DAY
ON STOCK MART
Rails Profit by Deals
Pending to Merge
Several Lines

NEW YORK, June 9.-Stocx mar
iet prices were again irregular on a
very small turnover In the early
stages of today's trading. but be-
came decidedly heavy In the last half
of the session when the weight of
offerings effected numerous ex-
treme reactions OF 1 to 4 points.
About 40 per cent of the days
business was transacted in the last
hour, tho entire list then display
ing general unsettlement. Net de-
clines of to points were regis
tered by such leaders as Baldwin,
lstudebaker. Mexican Petroleum,
New Haven and Reading.
Among the more speculative
shares of the shipping. motor and
oil groups the selling was of a char
acter indicative OF enforced liquida-
tlon. Sales amounted to 1,l75.000
shares.
There were no new phases In the
general financial situation aside
from the initial renewal rate of 3
per cent for call loans, that figure
later being shaded TO IA per cent In
private offerings. open rates for 80
and s0-day funds also showed con-
cessions. but longer maturltles re-
mained firm. Latest revelations In
connection with the Midvale, Repub-
lie and Inland merger continued to
operate to the detriment of those
issues, but rumors of other indus
trial and railway combinations were
actively circulated.
Specific reference was made TO
the Pennsylvania, Seaboard Steel
xend Carpenter steel companies and
knports declared that such railroads
7 as Missouri. Kansas & Texas, Chi
cago & Alton, Kansas City South
ern and Texas & Pacific were about
to establish, advantageous traffic
agreements. Better earnings by util-
ity companies were indicated by the
resumption on a higher basis OF
dividends by Brooklyn Union Gas
and general business in the middle
west showed substantial improve
ment and larger distribution OF the
more essential merchandising wares.
International currencies continued
10 be Influenced by the attitude of
the bankers committee regarding an
International loan to Germany.
virtually all the allied and neutral
remittances eased 2 to s points.
while the marks at 33 1-2 were un-
der last weeks rally.
Liberty issues retained their place
as leaders in the bond market, four
Of that group rising to par or better,
despite irregularity and occasional
heaviness in other government
loans.
Mexicans manifested further
weakness in the early trading, but
rallied. although rumor had 1t that
the present conferences between
international bankers ard repre-
sentatives OF the Mexican govern
, ment would be barren of results.
United Kingdom 1-2s were firm
regardless of the easing OF British
exchange here, Cuba republic bs OF
1904, Chile republic and Chinese
railway 5s also improved.
Toledo, st. Louis & Western 4s'
ST. Paul Is. Brooklyn Rapid Tran
sit rs and Consolidated Gas Is were
to points lower. but firmness was
shown by Baltimore & Ohio con-
vertible As, Reading As. Illinois Cen.
trail refunding As and Rock Island
refunding As. Total sales, par
value, aggregated sl5,337. 900.
Excepting the successful offering
of $3.50, 100000 certificates or IN
debiedness by the treasury depart
ment, the day was devoid or new un-
derWritinGs.