, 1922-10-11
HEAVY BUYING
IS RESUMED
Market Opening This Morn
ing Featured by Continual
ton of Demand.

NEW YORK. oct. .;-Spectacular
advances in high priced Industrial
shares. notably oils. brought a rush
Of outside buying orders in today's
stock market which were most effec-
tee IN the standard rail group. Pro-
feasional interest. however. later
staeed a series OF attacks which I'M
settled the ust and cRussd a number
OF active issues TO react from one To
five points. Sales Appropriated l.
1000. 900 shares.
q slump OF even points IN United
states Realty on announcement Of a
new preferred stock issue and indi-
cation OF reduced buying in other
rarts OF the list encouraged hear at
lacks during the final hour, Mexican
Petroleum and Standard oil Of New
Jersey reacting sharply from their
carly high levels. The closing was If.
regular.
NEW YORK. oct. 11-Renewal Of
the heavy buying OF oil shares gave a
strong tone to the opening CT today's
stock market. Steels, equipments,
rails and public utiiitios all made mod
crate gains. One thousand shares Of
standard Oil OF New Jersey sold at the
opening between 236 and 22s and the
stock then advanced to 240 as com
pared with a close Of 2s3 yesterday.
Mexican Petroleum shot up 10 202ts
or within VI points Of the years
high. on a net gain OF nearly 9 points.
Pan-Amsrican 4 and q established
new peak prices on gains OF more
than five points each. Standard oil
90 ruIFfnrpfu gp,prnpa1 ~ .vd r,,rs
OF the other oils advanced fractIonarIy.
Gains Of 81 to 1A were registered by
American Locomotive common and
preferred. Baldwin. United state Steel
Crucible and Gulf State Steel, AmerI-
can Express nov up four points TO
"a new peak price md Consolidate
Gas rose Is. The advance in rails
was led by Lackawannn up *. Weak
ness was noted in Dawson Chemical
of "a and American Car off ..
Initial strength OF high priced oils
was followed by a period OF profit
taking which carried them down 3
10 5 points below their early high.
This temporarily unsettled the rest
OF the list. reactions or a point or
more taking place in Crucible md
Gulf States Steels. ~Stuiebaker.
American Locomotive. Baldwin,
American Smelling ind Corn Prod
ucts. The latest supporting influ-
enee was provided by n broad demanG
for railroad shares. Union Pacific.
Chicago Northwestern, Norfolk and
Western. Reading, New York Central,
Letlgh Valley. Atchison, Atlantic
Coast Line. Southern Pacific, Great
Northern preferred end Rock Island
improving l to ga points. This mani
festation of strength caused a rally in
oils and other industrials. American
Express extending its gain to six
points. National Lead climbing ass 10
a new top and United States Alcohol
? rising 2tA. Mexican Petroleum re
bounded TO 20s4s, a new high on the
movement and Standard Oil OF New
Jersey, touched 2Ss. Call money
opened and renewed at 81 per cent.
Erratic fluctuations in the high
priced shares characterized the early
afternoon market. After climbing TO
205M, the highest price OF the year,
Mexican Petroleum dropped below POI.
american Radiator sank from 12e 10
125 on the announcement of the stock
dividend OF 90 per cent in common
stock. National Biscuit ran eff from
211 to 2o4. Meanwhile Dupont jumped
E points. Jersey Central AS to a new
high IL level. Lorillard 4 and Otis Eie-
vator 3ia. Sugars were absorbed on
the further advance in prices of the
raw and refined produces and Timken
Roller Bearing established a new peak
figure. Marine preferred was marked
up two points but United Fruit fell TO
a similar extent Fluctuations in tho