The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-22

New lDrN, June IL rlOiaE on TIC
stock exchange today continued 10 be
influenced II not altogether governed by
the extraordinary lnoy Cmeuts OF several
speculative favorites. Chief among these
were Mexican Petroleum and S,Udc-
baker. both scoring new high records
FOR the Year on very large transactions.
Mexican Petroleum. ar;Nr 4 series %
bewildcr!ng advances and reactions
established 4 maximum "s l,9 from
which il made an abrupt descent OF
eight points. but rallied 10 Us, net
gain OF three and one-ha,e points. or =
total of slightly over thirty points so
FAR this wceE
Studebakers course w!thin limited
bounds was even more confusing.
making perpendicular decline or
about five points in the fuai hour when
the market was most unsettled. ana
closing at Il loss OF Two and three
cIShts points. as against !Cs early gain
OF almost that much.
Other foreign and domestic oils
notably General Asphalt Pan American
Petroleum. California rctroleums Hous-
ton OIL. were better by . to points.
but these were plainly affected by the
reaceionary movements Of their leader.
New high Levels.
In the irregular advance 90 the early
and intermediate periods several Of the
independents SteelS equipments and
motor accessories We're litted to new
high levels for the current movement
Minor rails. sugars. textiles. feathers
and metals rose | 10 ; points. but easel
In the closing reversal. Sales amount.
Ell 70 l.r7j.o"O shares.
Altogether the markets course IN
d!c1tCG that its recent upSwinE was
mainly traCcablc 10 the existence oc n
short Interest OF large proportions and
confirmed the opinion OF impartial OBJ
servers that, substantial public partict-
patton was 1ackipS.
Call money opened at - per cent.
repeating the recent minimum quota
ton for such Accommodations, this being
the lowest ~ almost fvc years. The
: per cent rate OF the last half hour
seemed 10 he prompted by tomorrow's
Withdrawals from local reserve banks
Of $l6000.O0O 10 meet treasury pay
ments
Part OF Yesterdays brisk rally IN
British and other allied exchanges was
lost on renewed selling Of bills from
London and Paris. Sterling eased over
cent. French. Italian and Belgian
bills. fell four 70 ten points and Ger
man marks reacted moderately. On the
other hand. Dutch and Scandinavian
quotations made up some ttheir re-
cent severe depreciation. and better
tone was shown by Polish. Austrian
and Czecho Slovaklan rates
, Bond Market Irregular.
Continued ease of money as shown by
the renewal rate OF ~ per cent for
cali loans invited fresh buying IN the
bond market today. although the move
ment at times was irregular.
Liberty third &&'s at l00le and
fourth 4E's at 100.16. established new
naximums t6r the year. most others
4 that division closing at gains.
Mexican governments were heavy in
The early part of the session. but rallied
substantially later European loans
were hesitant or lower United King
doms relaxing with the moderate set
back in sterling exchange. but San Paulo
sights and Japanese fours improved.
Baltimore and Ohio fours Denver g.
Rio Grande fves. Northern Pacific
threes. Seaboard SKIES Atchison gen.
sral fours, Erie general fours and
Pennsylvania general AUS featured the
stronger rails.
Mercantile Marine skies. Pan Ameri-
can Petroleum seyens and Bethlehem
Steel refunding fvcs also made variable
gains on the day. Total sales tpar
ralue) aggregated sl4.073.000.
Several new undertakings OF con-
siderable proportions were marketed.
Among these were the. New York Cen
tral railroad $27.64s.0o0 five per cent
equipment trust certificates and State OF
Cathartna (BraziD $5.000.ooO eight per
cent external loan.
Liberty third ~ s made record price
OF loo.12 later and strength was shown
by Northern Pacific threes Denver (
Rio Grande fveS. Seaboard skies and
Bethlehem Steel retunding fves.