The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-21
NF NCAN PETROLEUM AGAIN
STAR PERFORMER; GAIN OVER 8

New York. June 2O-Mexican Petro-
leum again was the star performer IN
today's active and strong stock market.
IL made an extreme advance or II y
points. with a net gain OF IA. or totat
OF %S& points above last weeks nhS'
price.
At times traders seemed 10 regard
the extraordinary operation In Mex"
can Pete" as something OF a menace 10
the general market. IntimattonS OF
corner" were secuted. however, the
opinion still being prevalent that the
market was mainly leveled against AN
extensive short interest Other OILS IN
the foreign and domestic groups regis
tered gross advances OF TO almost .
points and the independent steeIs were
equally strong. with q sudden burst OF
activity at higher levels for Unitea
States Steel in the f|at hour
eaIn for studebaksr
Next 70 the otis. Studebaker was the
leading stock. It's net gain OF b%s points
to the years high record being associ-
ated with ruuors OF increased or extra
dividends in the near future. Baldwin
WAS forcrloS; among the equipments on
It's gain OF IA points and the less
prominent issues TO show material ad-
vances included American oWolen. To-
bacco Products. Mercantile Marine pre-
ferred. and Madison.
Rails Jagged until the latter part o.
the day. when news OF the declaration
% the further divided os Great North
ern caused hurried buying OF that
stock at gain OF ~ points. Northern
Pacific advanced "a points and several
coalers and trunk lines. especially Read
ing and New Haven strengthened SUB
stantially. Sales totalled l.O"o'oo0
shares.
Narlnnd Dividends.
DEVELOPMENTS which accelerated the
upward trend included a rebound In
, LEADING foreign exchanges. advtces from
the middle west that steel and iron mills
were running behind in deliveries and
declaration OF initial dividends on Mar
land oil.
The money market followed yester-
days course. save for the free supplies
Of thirty TO ninety day funds. Call
loans eased from to -. percent at
midday and private offerings OF this
character were reported at ga percent
The rally IN international currencies
carried sterling bills fully Ave cents
above Yesterdays lowest quotations
while recovcries OF Is TO % points In
French. Italian and Belgian renl!ttanceS
more than cfTaced their losses "c yes
,crday and last Saturday. With the
execution OF Swiss and spanish rates.
however. the Improvement did not eX-
tend TO neutral centers. Dutch and all
Scandinavian rates adding 70 yester-
days setback.
Upward Trsnd In Bonds
Tl.> trend Of prices in to-day BOND
market was mainly upward. bur dealings
were small and irregular. compared with
the hreadth and strength manifested ~
the stock list.
Liberties were steady during the first
half Of the session but moderate losses
nredomirated at the end. Aside from
Mexicans. especially the fires. whtch
rose points. foreign loans were. III
Clintd TO ease. Dutch Fast indies and
Cuba Railway fives. however. showing
firmnesS
st. Paul convertibles AVS ST. Louis
& San Francisco adjustment skies. Ore
gon Short Line retundIng tours and Sea
board fours and fivcs strengthened
First mortgages Of the leading systems
Improved later on the rise OF stocks or
that class which followed announcement.
of the payment OF the regular Great
Northern dividend.
Marland oil issues among the strong
est features OF the recent days, reacted
on the news that the common stock mad
been placed on 4 dividend at 81 annual
rate. Total sales (par Nalue) aggre-
gated St4981.o0o.
New undertakings aGGreSating about
$4,000. 900 were offered and readily
marketed OF these The most prominent
was the $4,000. 900 State OF North Caro-
lima Az per cent highway bond. sold At
a price Yielding between ass and 40
per cent