The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-07-01

NEW YuItE Jgly To what
extent special d.. ,lppmruts Boz
particular .tuDE issues have been
rr -Ipuslhie coz tur m-aiutcuauDe
us lufyrr- bon ihU7" ISSUES 90 tho
mUd-s hummer aul.Uu 90 o.. ut course.
difficult tu say but tho present
mtrl d De- tu startling coutris. with
that ul tho last .wu or hire, ui It's
Vrndr cra-ur# which have shown
.umIHtHffH lr Evidences Of DA-
usH .IUu and HluEFishnoss before
rH. Humu. season has boon given
.u tus buying of hiEh grade Tull.
road aud industrial stocks by tHo
continued reports Of inspiring proc
lI.4 in the financial rehabilitation
Hf hc rrprv-D utatiyO Industrial ut
--HniEatiuns OF the many concerns
N!lch were on tnr border land of
Insolvency r. year or ap ago.
The Mexican Petroleum incident.
though receiving % clean bill Of
health from th, stock exchange
tuthorltiUs IH rot calculated 90
lu-pIr, either respect Tor. or CuH-
uleuco in. the methods employed
NF professionals uu the stock ,A-
,hanE, % shifting prir't NJ sp'uu-
lnfiEr stocks 60 suit their own
fancy The facIiflY- OF fNr stock
exchange should not D.. employ ed
Cor tho conducting uf open warfare
between Two ur more groups Vf
.prculafur-. especially when their
wldo pr"ad propaganda results in
toss aul confusion for H large
.rrlr uf public Investor who
wclld not otherwise hH attracted
100 those volatile performers 800 tho
stock market
Since The reaction whItn u@hDred
iu the month o' june, railroad ana
Industrial stocks huys been Eradu-
ATS ]reralniug their former market
1uutution- and some uf them have
FAR rNcrrdcd th, best records os-
uihn-hri In fhU bun market co.
April and May Stpflsfltiuus and
market dopesfore have boon uN
pressing qualification 0yuJ the
strengthening ~ tho technical
portion OF rho stock mHrkut but
traders whose margins hIy, been
'thinncd ont are more krcnly in.
tcrc-tcd iu The probable como hlcE
81 the particular Is-uea ON which
they hope Co. Dcura thu return ~
their original invest mcuf-
NonrN aud Credit
tn" most important develop
monfH boo recent weeks hive h.ou
Iu Doe MONEY and credit situation.
md 10 q lesser ,Ntcut 300 tho uprn
bond market The call money ruto
continue 90 bD somewhat giraffe.
isIr % ths financial rcutrr boon tho
rates fur uifno loans and bankers
bills hayo hcon consistently durlin.
ing Co lower towels from watch
leading bankers are Inclined 60
mink there vail hn d~efloo'lun for
tonic months 20 come
IN" comptroller of Tho currency
reports tho working assets Of tho
national banks OF thr country lr
excess 81 twenty billion dplInrr
which figaro has boon ercccdrd
only in tho initiation DAYS prior ~
1 1881 Tho weekly stntomonia Of
tho federal reserve system amply
suhstantlatr these statements re-.
pUrts from the western and south.
crn districts which were iHt,lv 3D.,
typical 'frozon credit" banking
communities Indicate very rapia
iiluidation ~ old lonns carried
along since tho GU Boz prices oi
commoditieF Reimbursement 81
banks In the grain and cotton dis.
irlcts with eastern bnnk4 which
had advanced money 20 them dur.
Ing the period ~ "frozcn' loans
ms been progressing more rapids
/ than az any previous time, ns a
consequence ~ tho higher pricos
~ cotton md grain
Repayment ~ rodisrountnd loans
hy the snmc banks "a tho reserve
banks ~ their district has beer
stin more rapid 4 year nro. the
ratio ~ rrsarvn 10 inhiitirs NJ Tho
reserre hanks Of tho four typical
frozen credit districts ~ phllas
Atlanta Minn"apolis and Rich.
mind ranged from 20 10 ~ "a psI
renf and yer 10 "a ~ per cent
below those ~ any other Teservf
hank last weok's individual
Htnfementf showed tho following
hanks In the system with 90 pei
rent reserve or higher. the hanks
being named ~ the order al
strength Of serve New York, ~,
ianta, Chicago, Philadelphia. re.