The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-17
MARKET IN STOCKS
QUITE IRREGULAR
Recent Buyers Induced to
Take Profits by Active
Early Bidders

NEW YORK, oct. lt.-AclNc
bidding up of industrial shares. In
Guiding United states Steel common,
which was cPrricd TO new high
nt II ~ at the opening OF todays
.to.k market included recent buyers
90 take profits with the result that
marked irregularity took place in
.tor trading.
Traders who have Becn bidding up
stocks In execution ut stock dlvi-
lends received setback today
when Ebert H. Gary chairman OF
the United states steel corporation,
and T.. J. Corish, president OF the
national Lead company, both de-
n.ul that any distribution was con-
,omplatcd by their concerns, which
have boon among those prominently
mentioned in current rumors.
New York Central crossed par
asain today, but later fen back To-
go 6-S as compared with 80 at Sat-'
urday's close The advance OF near
'v two points in Lchigh Valley was
accompanied by minors Of an i'm
crease in the dividend rate. Other
s,ruug spots IN the rail group Were
Atlantic Coast Line, Reading, New
Haven, New York, Ontario N West.
,rn, NiCk.e Plate I'd preferred, and
Delaware Il Hudson, the gains
ranging from "a to 2 points.
More than one hundred thousand
shares OF United states steel COM
mon changed hands during the day,
the closing price. however, repre-
-,ntiug two net gains Of only IA OF
90 point. other stoe.s were Irregular.
Republic dropping / - points and
Bethlehem q -, while CruClbic
improved slightly.
Equipments were hard hit hy toe
DAYS selling Baldwin dropped
ia, American Locomotive rs
and General Electric Ia. Tho net
gain In these stocks last week
ranged from to . points. Stude-
baker also yielded TO pressure fall
ing back 3 points.
Violent Quotations took place in
the high-priccd oil shares. Mexican
Petroleum moved within radius of
nearly 5 points, closing az net gain
OF IA wHile Standard Oh of New
Jersey. which had touched us IL,
.ol back to 2l3 IL or Ia points
below saturdays final rate.
National Biscuit again stood out
iu the specially list with gain OF
points. other strong spots We're
Manhattan shirt, up l-4; Rey-
uCids Tobacco. mp is; National
Enamciing, up j-S. Continental
Can. up - and Brooklyn Rapid
Transit, up 2 is.
Total sales were i.i9l.OOO shares.
CAL money opened at 1 IL per
cent but advanced to i before the
close. Bankers are holding out for
3 per cent for the longer maturit!cs
Ft.f 4 ii a
hy borrowers. Commercial paper Is
quiet and fairly firm.
Foreign exchanges were weak,
particularly the French and Italian
rI,gs. Canadian dollars were still
@, ( premium in this market
Pronounced weakness n the Old
Liberty l-i per cent bonds, an
uf which dccl ned 90 10 - on 500,
was 'ha outstanding development In
toiuys bond market Two reasons
We're assigned for this, one that in
NeEtors were selling old bonds to
purchase the new or longer term
securities and the other that repre-
sentatod liquidation on the part OF
'he banks and large institutions 70
meet the demand for increased
commercial credit,
Bond prices moved within hn ir.
regular trend. The principal de-
NrIupmeut in connection with for
'-u securities was the announce
msgt that the 2lS,oUO.oOO per cent
Norwegian loan offered today al ual
had been Oversu bscrihud, The
changes In the foreign bonds listel
ON the exchange were comparative
ly unimportnut.
Railroad lines pursued an erratl.
course, Gains of / to l Ia point
were registered by Baltimore 4
ohio IS. aboard Air Line con
solidated ss, ToSas & Pacific first
and New York railway As, and Ger
utlcate As. Great Northern Ia
and southern railway As, however
dropped Ia points each, whil
losses OF / to / l-2 took place II
Wabash second IS, Chicago North
western general 5s, Atchison gen
eral As, Missouri Pacific 4s, Unio'
Pacific Is, srisco adjustment 6s Rn,
prior liens Is
Industrial liens were general
lower. Cuba Cane SIS moved IN tn
"nposite direction, gaining IA point
Total sales, par value, were SIS,
a2l0OO.
Range Of Prices, ns Reported my Houston