The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-08-26
STRIKE UNCERTA INTlES
lURT STOCK MARKET
Turns Decidedly Heavy In Closing Hour
After Early Display OF Strength
Most OF Days Gains Cancelled

New York. Aug. 2S.-The stock mat
ket, after an early display OF strength
turned decidedly heavy IN the final
hour today in response 20 extensive
selling pressure eNerted upon the an
pcuucement that the strike conference
between certain railroad executives and
brotherhood chiefs. acting as mediators
had been definitely broken of. Most Of
the days gains were cancelled. and
many stocks depressed one 10 two
points below yesterdays closing quota
Atoms.
Liquidations was directed principally
against railroad shares. steel and equip
ments on the theory that those indus
tries would suffer most by tho pro
lonEed labor troubles. However. rats
offered stubborn resistance in the face
OF an announcement by Z. W Lewis.
shopcrafts leader. that Il would be a
flight TO the finish" Stocks Ike
Northern Pacific. Chicago x NoTthweS-
tern and AtchipSon which has advanced
materially in the last few days, sold Off
more than a point. while shares Ike
Union Pacific Southern Pacific, Read
ing and Eric were in a better technical
position yielded only fracttonally
Louisville and Nashville. Omaha and Ann
iArbor preferred established new high
records during the day. but recedcd with
the general list at the close.
o. s. Steel Pushed Up.
United States Steel was pushed up 70
1851, the highcs, price in Two years.
but sold of half a point at the close.
Crucible and Eauadium also established
peak ,SiceS and managed 20 hold part
p OF their gains. Activity IN steel shares
were attributed to the announcement Of
higher prices for steel and iron pro-
ducts. which IS expected 10 find rertec-
ton in forthcoming earnings state
ments.
Public utility issues. especially gas
shares. were in active demand New
high records for 1922 were made BY
Consolidated Gas. Columbia Gas. North
American Company and Lacede Gas.
feathers were also strong. peak prices
being reached by Central Leather COM
mon and preferred and American Hide
and Leather preferred.
Speculative attention was confined
largely 10 special stocks. Lima Loco
motive was pushed up 70 new high on
the announcement that x had rcceiN-
ed an order FOR - locomotives from the
Katy" system and American Telephone
recovered most OF its recent loss when
further study OF the proposed Sil5.o9o
new stock issue revealed that the pro-
ceeds would he used largely ror business
expansion. which IN turn. would un-
doubrcd'y mean increased "..-nings.
Copper Shares show Vol.
Copper shares RESPONDED v"jl in the
increased output figures and decreased
dtficitS revealed by the latest quarterly
reports.
Gail money again opened al So. per
cent bu, hardened :" four at the close.
Time money was quoted with funds
available for sixty and ninety days at
- ~ percent.
Failure Of the separations commits
sion 10 reach an agreement with the
German gove-Hmen, caused a violent
DECLINE IN continental exchange rates.
German glari:~ fell 20 the extreme low
rate Of FIVE cents hundred and French
francs reacted 50 points 20 a new low
record ot the year. with slightly smaller
declines m the Belgium and italian
rates swedish kroncN touched par for
the first time in three years. but react
ed later. CZecho Slovakian crowns rose
ten points TO another new high level.
Total sales for the day were 100000
shares.