The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-27
WITH Nd CORNER" PROVEN
MEXICAN PETROLEUM SCARS

New York. June 26.-Eeports thai
the stock exchange had found no PROOF
of an attempted corner in Mexican
Petroleum today sent that stock oack
into its recent leadership. 70 the utter
Generalization OF the shorts.
That faction covered franticaliy al
thte outset. the stock soon advancing
In comparatively small lots 20 l94i2,
against last weeks closing price OF
1871. At midday, after several mod
crate reactions II rose 10 %04'@. III
the latter part OF the session selling
for profits caused a more substantial
setback TO the final price OF 1875. a net
gain OF 1884, points and points over
the years previous maximum.
Pan American Petroleum ~ anH
"B" Chares made extreme gains OF
o. and ~ points. respectively, re-
tanning the greater part OF their al
vanceS. but other oils. especially the
domestic group. derived little beneft
from further price advances IN crude
and refined products. Several OF the
investment rails were disposed 10 add
moderately 10 last weeks general ad-
vance, but gave away 70 the realizing
o. the latter dealings when call money
rose to ST. per cent after opening az
per cent.
Irregular Gains
Irregular gains among motors ana
rubber accessories also tobaccos and
food specIalities. proved to he only
temporary for the most part, although
L. s. Rubber and Tobacco Products
were we'll up for the day. sales
amounted 10 500. 900 shares.
In view OF the deficit In actual cash
Holdings reported by the clearing
house banks last Saturday and prepar'
alton to meet July interest and divi'
dend payments. today's hardening or
call loans ocCasioned little surprise.
Time rates were unalterted, but the
supply Of such funds was yisioly
smaller
FOREIGN exchange conditions were
very confusing. but the trend Of lead
ing remittances was tirmer. French
bills proving the only noteworty eX-
ception Sterling rose fully three
cents over last weeks low quotation.
marks rallied large fraction anu
most other continental rates rallied >
10 10 points.
Dizziness in Sends
Dizziness was the chief feature o.
today's bond market. dealings being
lighter and more contracted than AT
any recent period, Gains oUtnumber-
cd rpCeSSions. but changes in the more
important iSSues were nominal
The entire liberty group. with ono
exception. again sold we'll over pa.
but no now records were established.
despite heavy operations In the soy.
eral - per cent issues.
British loans hardened slightly in
rcsDCns" 10 the better tone OF sterling
exchange. bur French continued 70
ease on The backwarGness OF the local
made III moro Of their recent reaC.
ton and Cuba Cane sevens and Fights
improved.
Gains averaging one point were
registered b. many rails. especially
those OF tho investment type. Among
these were Central Pacific first As
Pennsylvania general SIS. st. Paul
refundirC 49,. Kansas City Southern
S's. Missouri. Kansas & Texas 5's ana
Chicago & Eastern Illinois SIS Total
sales. t7ar value) aggregated $l4,733.-
non.
New corporate offerings OF the day
Included Wabash Railray s+.5on, 0o0 OF
& per cnn' equipment trust certificates.
which we're Immediately disposed or
and Nrw York Steam Corporation
S5.ofn 900 fist mortage SIX per cent
bonds.
Central Pacific first As rose one
point la,er and other rails improved
on tho increased demand for shares
o. la. - n ctsr. II thn Stock narket