The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-23
WALL STREET is
TAME after ITS
WILD Weekend
ri STUART r. WEST.

rsv YORK., Jan. 23.-By compar-
..or with the lively speculation to-
-.,a the close of last week, to-
s.-,s proceedings on the stock ex-
zsaee were tame. In the other
sssrFsts likewise nothing OF much
importance happened. The latest
svnres on cotton ginning, carry
M the results up to Jan 16. still
ssssher emphasized the extraordin-
- characterization of the govern
rant last October when they plac-
Al the probable yield at 6,537 900
ssles Today's ginning. returns are
- ba taken as pretty well complet-
sov the record of the year and they
how that the 1921 cation crop will
smount to virtually 5000. 900 bales.
m the days cotton markets the
x,nniug report had a depressing eff
sscf because it rather exceeded ex-
,ectations in the amount added to
he finished crop since the first of
,bs year. Last weeks decline in the
soreign exchanges did not continue'
srrept In the case of German marks
which were quite weak. The report
Nv the United States section OF the
European conditions, IL it presents
The official American attitude, may
pIay a considerable part in the ex-
,ebanre situation. 1t takes the same
ground that is everywhere adopted
IN business circles outside of France
which is that German reparations
PAYMENTS must be adjusted to the
practieability of that country to
nav regardless of the exact stipula-
lions of the treaty of Versailles. 1t
also fixes as a second essential to
economic recovery of Europe, the
recovery of general conditions, the
reduction of standing armies of GER
tain nations, which, of, course, re-
fers principally to France.
The important question now be-
comes whether American represen-
tatives will accept the invitation to
come to the Genoa conference with
opinions like these. If they do it
will mean the whole world again
the French policy as set forth by
the new ministry, and will France
be able to stand up under such
pressure.
The stock market moved with
great deal of uncertainty most OF the
day. Buying continued in some
branches while realizing sales went
on In others. The evidence was
quite clear, however, that the spec
ulative campaign based upon the
merger rumors. had received a de-
cided check. Trading fell away to
comparatively small proportions
and in the majority of last weeks
favorites, there was a preponder-
ance of selling from the start. The
sugar stocks were exceptionally
strong, apparently because the ad-
vantages of the projected combina-
tior between certain groups of pro-
ducers and refiners, had not been
fully appreciated. This group was
bid up along with a number of spe-
cialties but these operations failed
to exert any general influence.
The one interesting bit of trade
news was a further advance in the
quotation for Cuban Raw Sugar to
~ cents a pound, making. gain
Of more than half cent a pound
in little more than a week. This
vas evidence not only for the turn
in the sugar trade but also of the
fact that the refiners have badly
missed their market. 1t was a
matter of comment that CONSOLE
dated Gas stocks have been so lit
tie affected by the annual report
which showed a deficit of interest
and dividend of nearly $4,000, 900
for the IL months ending Dec. 81.
This. OF course, was the result of
H. al 1ze i'm
pounded awaiting the court decis-
ion as to the validity of the $l.25
rate eventually finds its way into
the company's treasury, it will con-
siderably more than wipe out this
loss and the way the market took
the news today showed the, conf
dence felt that such would be the
outcome
If the upward movement in the
general share list was not resumed,
1t could not be said that there was
much of a reaction. Considering
that professional opinion was, in
the main. on the side of a down.
ward turn and in view of the alb
sence Of any public offering to
speak of, prices showed very fair
resistance. American Loco, Bald
win Loco and the Rubber and Tire
stocks had a little squirt in the aft
ernoon, which however, proved
short lived. Among the specialties
North American reached a new high
an dso did Remington Typewriter.
otherwise the market of the last
hour was dull with some sagging
OF prices toward the end.