The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-08-16
II |lIlI
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STRIKE, NEWS
~ rUAN Z. WKSI.

II STUART +. WEST.
- Stssst. New Yoek, Aae. IL.
= ,.oening's strike news sim
bowed ont the indications Of
ovieus day. ut II haa . de-
favorable eject ppon all
nsrkets. Wall Street had
ssss on Tuesday f>pm the re-
-sf IT the railway brothsrhoods
anelher conference, that these
EXAMINATIONS were anxious
IDLE the shopmen's strike. It
rnessed that this was the be-
4 Of the end. The accept
1921 these oyertures by the rail
1tyes and the fixing Of the
ng for Thursday were the
~ fresh items in the situation
~. but the markets found In
new encouragement for dis
sting the windup Of the rail-
- troubles. At the same. time
Cleveland COL conference
md out in the manner expected
M the virtual certainty OF the
nfiy resumption of coal mining on
\ sale large enough to meet the
80 of the country, contributed
/ 3 TIE cheerful sentiment Of the
~ .
Hallway shares had made the
lsiter part Of their response to the
hyogsble turn in the labor situa-
uoa In the one to three point ad-
ysacs of the previous day. They
Ssnt higher again but were not a.
epuinent by any means Is the in
| 1sstrials. The buying sought out
uors particular stocks Of compan-
~ whose business has been threat
ssed for weeks past with serious
curtailment owing to the combina-
ton Of delayed transportation and
fuel scarcity. In this category were
0. 8. Steel common, the independ-
snt stesls. the motor stocks and
he mining shares. The railway
sasipment isstes were actively
lought in the belief th1t the termi,
lation of the strike would mean q
reat overcrowding Of the rail
Susds and a rush Of new business
10 the makers of cars and locomo.
tivss. The upward turn continued
n the oil stocks and seemed to be
based ON genuine evidence that the
recent price cutting has beer
thorough and has had the desired
effect of improving the rather veal
lt2tistical position of q month ago
With the exception of sterling
which again held aloof from thu
movement of the other foreign cur
Isncies, which again held aloo
from the movement Of the othel
foreign currencies the foreign ex
changes passed through another
unsettled day. Gable REPORTS tina
closing Of the Berlin Bourse wa.
being considered showed the des
perateness Of the crisis created b.
The break on of the London con
ference on Preparations. The Ger
imam mark broke below ten one
hpndredths, that is, it became wort
less than q tenth of a cent agains
pre-war value of nearly "a cents
What is taking place now is an
Mher panic of the type which ha
hen frequent during the last l.
months where the Germans them
selves have been exchanging thei
holdings on currency for commodi
ties or securities rgardless of no,
hprch inflated these latter may b.
! Ne effect is Of course, to force u
leearity prices to a dangorou
hight. inviting q terrible collapse
h an effort to avoid this it is no
surprising that a suspension q
business on the Berlin stock ex
change should be under discussion
The incident of the dealings i
Exchange was not so much the sell
nc Of German marks as it was tn
Aavy offering of French franc!
These offerings found the marke
poorly supported and brought
Aarp decline. These selling oper
atoms very plainly reflected mis-
rytngs over what would happen i
tafopean affairs with France 60
NJ it alone. French government
securities were not affected an
ne break in francs was scarcel
" influence anywhere outside @
uo exchange market.
The stock market followed tn
aue schedule as it has been RICH
Wong, for the last week or 81
fading kept up with show Of az
witty through the forenoon an
through the early part Of the after
non, then in the last two hour
nh OF to very small dimensions
Twas a very dull and listless maj
iet In the late afternoon.
stocks Of coal carrying railroad
saeh as Lehigh Valley, Reading
western Maryland and Wheelin
MO Lake Erie attracted some al
ention in the afternoon dealing
! Ssewhere prices came down b
Iom the early high but still lea,
& a substantial net gain. Th
wi money renewal was fixed q
: - per cent, the lowest in a for
nI Cotton was strong, agai
ss.ped BY the census bureau n
! on With its evidence of increase
0nsumption.
an JAY, 507.S7s bales were take
ssainst 410.142 bales In tn
= oe month last year. while II
! IN whole period from August, 49,
! aug. 1922, the consumption Il
i Increased over 100000 bale
svm the previous IL months.