The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-02
SPECULATIVE SHARES CD Up
IN STOCK MARKET TRADING

New York. June l-Speculattre Is
sues. notably those under pool control
were the conspicuous features OF today
stock market. Many shares Of that
character scored substantial gains. in
~Sntrast TO investment or standard iS~
Srs, most Of which were hCrSstant al"
occasionally heavy. Sales amounted TO
l.250.000.
Erratic or conflicting movements
among rails. resulting from the recent
decisions OF the United States supreme
court in the Reading and Southern ia
Clfic-central Pacific caseseS, were re-
sumcd. TranSportations as group
however. contributed little TO the day
broad dealings.
Prospective higher prices for crude
products placed the oils in the Tore
front OF the days operations. Many
OF that division. especially Standard O'4
OF New Jersey. Mexican and Pan Amer
lean Petroleums. Producer and Rel'n
erS. Houston. Sinclair and Stahoaro
oil OF California made extreme gains
OF one 20 almost four points. these De-
ing materially shaded later
Equipments. especially Baldwin Loco
motive. General Electric and American
Car were firm 10 strong and lnternauon-
al Harvester Studebaker and various
chemical fertilizer and food spec!altses
continued to improve. the later again
including Coco cola. Food Products ana
Postum cereal common and preferred.
Among the stronger miscellaneous Is
sues wrr.. Columbia Graphophone pre-
rerrod aIi Electric Storage Battery
British Exchange Strong
The intcrna tional situation came N
for more than casual consideration oS
reason OF the strength OF British ex-
change Bankers ana traders were or
tho opinion that the years PROVISIONAL
moratorium granted to Germany would
have the effect OF stimulating this
country's foreign 'rade.
Aside from from the probable further
rise In oil schedules, prices OF raw ana
refined sugars again moved upward with
metals. Improvement in industrial con-
di,iosS was empha sized by the greater
activity reported at automobile manu-
featuring ceuters and increased searn-
Ings' Of mail order companies bespoke
easier money in western farming Sec
lions.
In the local market smaller supplies
Of money. Incidental TO the new months
interest and dividend payments. occa-
sionCS increasedfirmness OF demand and
time rates. Cali loans opened at Az
per cent advanced to per cent soon
after midday and rose 10 So per cent
In the final dealings.
Time funds were scarcer and limited
almost entirely 10 80 and 90 day Oh
fcrincs.
The London exchange rate eased at
the outset but heavy buying OF bills
forced that remittance TO highest levers
in three years as the day progressed
Demand bills were Quoated at 445A IN
the final hour and as high at AS =
after the close of the market. German
marks also strengthened. but allied eH-
changes eased to 3 points and Dutcn
and Scandinavian exchanges were most
~ lower
Rail Bonds Heavy
Trading in the bond market today
Nas hrogd. hut without appreciate IN
crease OF business and little chanSe
from recent uncertain price tendencies
low grade rails. for example, showing
Increased heavtness.
Liberties closed for the most part ~
recessions from yesterdays maximum
quotations. selling being attributed 70
profit taking and short otterlnss
prompted by the progress OF bonus reg.
isla,iony Two 100000 share lots OF
Liberty second AZ sold at 1915 ana
99.9S
Mexican. Cuban. South American. BEL
gan and scandinavian and loans Wei
better by fractions to Ia r-1n'S' "u'
Czecho- Slovakian rates eascd moderately
and British war offerings made no per
cAptit--> response to the record P''Ie
for exchange on London.
Gains and losses in the domestic
rails. industrials and utilities were Gun.
HusinE. but reactions predomina'eu !"
the final hour, when souno prices wv
lowed the lower trend OF stroke
Total sales tpar Nalne) assrehN'.D
s14T3S.On0. Among the day new W
i,,r,s zorro an issue Of Sl2.t50.000 OF
1ra,,asess Electric Power Company
onn noo ~ cincinnati Gas & Electric
Il &c nnn nm If Stltter Basin