, 1922-11-27
STOCK PRICES
FORCED DOWN
Many Representative Shares
offered at Lowest fos=s in
Many Weeks.

Tor TINS urHAiNt loiNe4 llftnef rtCee-
sion in prices In today's stock market,
a number OF representative shares,
Including United States Steel com
mon. Baldwin and studebaker reach
ing new lows OF the movement. Short
covering Impaired some strength 10
tho opening prices but when this was
copieted the bears renewed their pres.
sure and brought quoted values 20
their lowest levels in some time. Sales
Appropriated 100000 shares.
NEW YORK. Nov. a7.-Irregular
price movements took place at the
Opening OF today's stock market. good
recovery being shown by some OF the
representative shares, which were un-
der tho most pressure In Saturdays
reaction. Baldwin, Studebaker and
American Locomotive zach moved up
a point or more. presumably on short
covering. md were followed Into. high
er ground by Pacific on. Bethlehem
"B", United Retail Stores. St. Louis
Southwestern, Louisville and Nash
Vile, Corn Products and New York
Central. A special buying demonstra-
ton took place in Piggy wiggiy,
which was pushed up "A points.
Northern Pacific dropped one point
to a new low level for tho year and
losses Of y to ! point also took place
in Atlantic Coast Line, Chicago
Northwestern and Chesapeake and
Ohio. Other weak spots were New
York Air Brake. National Lead, Cru.
chile. Pacific Gas. American Writing
Paper preferred. Royal Dutch, Amer
lean and Continental Can n Allied
Chemical. the declines ranging from
l TO Ia points. Foreign exchanges
opened irregular.
Selling by speculative interests
caused a general sagging in prices
after early dealings. United States
Steel was depressed to 10OA. and
Nome OF the Independent steels also
ave way sharply. Republican Steel.
common and preferred, losing ?
points each. Pressure elsewhere re-
suited IN numerous declines of / 10
, points and with Coca Cola. Pullman
and the tobaccos showing marked
heaviness. a brisk rally set In later,
Mexican Petroleum rising SIS points,
General Electric and Pan-American
az each, Standard OIL of New Jer-
sey 2h and Baldwin. Studebaler and
several OlutT uI tnt it<iutIS ono ppliit
or more. United States Steel got back
to within q small fraction OF satur.
dDys close. A lower rate for call
money. which opened at Az per cent
and then ,eased to Al nj n new high
for sterling exchange. had cheerful
effect on sentiment.
Tho rally carried a number Of i'm
portant stocks to levels of one TO four
points beyond Saturdays closing,
among which were New York Central
Union Pacific, Reading. American
Can, United Fruit. American Sugar
and General Asphalt before batter
ing tactics were resumed by the
bears. Large amounts Of stock were
/then thrown upon the market driv'
ing down many OF the favorite specu-
lative shares TO the lowest prices of
the current movement. United States
steel sold at 1ooA. Baldwin dropped
AK uneer last weeks final, Atlantic
Coast Line as. Marine pfd. 3 and
tstudebaker. American Can and Cru
chile and Bethlehem Steel 'B" two
points.
TIE closing was steadier. Short GOV
ering was again undertaken in the
final hour. covering rallies OF 1 to
points in a number shares. but closing
prices generally were below those OF
Saturday.