The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-28
GOOD RECOVERY
MADE IN STOCKS
But Averages Well Under
High Levels of the
Week

NEW YORK, Oct. 27.--Good re-
covery was made by most stocks In
todays market but the averages
were still well under the high levels
OF the week.
Mexican Petroleum showed the
best recovery OF the active stocks
registering n net gain OF SIS
points. Pan-American A and u rose
3 and is points, respectively. and
Houston was up 2. Standard OIL OF
New Jersey continued under pres
sure. however. yielding l-2 points
Fisher Body was the outstanding
individual feature. jumping 10 1-2
points to ISL i-2. a new high rec
ord for the year.
Baldwin and Studebaker also
staged a fair comeback, rising Ia
and 2 "a points, respectively. Unit
ed States Steel made a raise OF
point. again crossing i06.
Railroad shares generally were
higher but the gains were less than
those OF industrials.
Reading was one OF the most nc
tive, gaining a point, while New
York Central, Lchlgh Valley, ATTAIN
tic Coast Line aud Southern Pacific
registered advances OF substantial
fractions,
Some OF the Individual strong
spots were Corn Products, Ameri-
can Tank Car. American Locomo-
tive, Allis Chalmers. National Bis
cult and United States Industrial AL
cohol all UP 1 Ia to points
American Express. Railway steel
Springs. Norfolk n Western pre-
ferred. and United States Rubber
first preferred. were heavy. Total
sales were $4,000 shares.
Call money opened and renewed
OF s i-2 per cent, but eased off to
In the early afternoon and held
at that figure until the close. The
demand or time money was brisk
with no change Ia rates. The COM
mercial paper market was quietly
firm.
A much improved tone was noted
in the foreign exchange market
Demand sterling rose from s4.44 41-2
TO si.46, and French checks, which
had fallen to 6.S4c earlier In the
week, again crossed 7.O0c.
Corporation issues showed better
resistance today to the continued
liquidation OF United States gov
eminent bonds. five OF which sold
in the .neighborhood of es or below.
Recessions from the previous close
ranged from 22 cents TO so cents per
the new 4hs dropped 70 cents to
$500, tho lowest figure yet
reached.
Reasons for the throwing over at
what are commonly regarded as
sacrifice prices for the governments
issues continued TO be somewhat of
a mystery. Presumably demands
for funds in connection with COM
mercial pursuits by banking institu-
tons and individuals explained in a
measure the pressure offerings. but
II ia also conceivable that consider
able selling came from speculative
interests who were disappointed in
not finding an immediate higher
market for their purchases at par.
While the rest OF the market
showed early hesitation with some
large concessions in various groups,
tho late trend was uniformly up
ward In sympathy with q spirited
rally In the United States govern
ment bonds which restored them
practically TO a parity with yester-
days final figures.
Fluctuations either way in the
general market were not so pro-
nounced as heretofore. but during
intervals OF selling. Marland Oil
7Iss declined 2ac: Lake Shore
az. 2 points; and ST. Louis &s San
Francisco incomes 5s, Jersey Cen
tral collateral IA, General Electric
debenture 5s, Computing g-Tabulat-
ing-Recording Bs. Manhattan con-
solidated 4s and Brooklyn Rapid
Transit certificate rs and the
stamped Is. to / y points.
Total sales. par value, aagre-
gated S17,S41 900.