The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-10

Nav York, juno Stock market
nrIces were again Irregular on Ne"y
small turnover In the early stages or TO-
DAYS trading, but became decided'H
heavy In tha last half OF the session.
when the weight of offerings etiecteT
numerous extreme reactions or one 10
four points.
Almost forty per cent Of the days
!, business was transacted in the last
hour. the entire list then displaying gem
eral unsettlement. Net declines or one
TO three points were registered by such
leaders as Baldwin. Studebak"r. Next
can Petroleum, New Haven and ReaN-
Ing.
Among the more speculative shares
Of the shipping, motor and oil groups
me selling was OF character ind'cl-
go OF enforced liquidation. No ncwo
RI n definite character developed IN
connection with tho decline. but gossip
asrribed the reversal in part 70 tho
house cleaning" now In progress on the
exchange. Sales amounted 10 Sl'IoV'OoV
shares
There were no new phases In the GEN
eraI financial situation,aS'de from the
initial renewal rate OF per cent Tor can
loans, that figure later being shaded u
Z ,hree-fourths per cent In private otter-
,oxs Open rates for thirty and sixty
longer maturlties remained firm.
More Merger Talk.
Latest revelations in connection with
the Midvale-Repu5ltc-ln Inland steel meT-
ger continued TO operate TO the detr'-
ment O. those issues. but rumors OF
other industrial and railway comoina-
lions were actively circulated.
SPECIFIC reference was made TO the
psnnsylyanta Scahoard Shetland Car
penter Steel companies, and reports de-
clared that such railroads as Missouri
Kansas & Texas, Chicago & Alton. Ran
gas CITY Southern and Texas & Pac'Iic
were about TO establish advantageous
tratft, agreements.
Better earnings by utility companies
we're indicated by tn" resumption OF
higher basis OF dividends on RrooH!SR
Union Gas and general business in the
Middle West showed substantial I'm
provement and larger distribution o.
the more essential merchandising wares.
International curreuCies continued 70
be influenced by the attitude or thu
bankers committee regarding an inter
national loan TO Germany. Rates on
London were steady. but virtually All
the allied and neutra, remittances eased
two to eight points. while the marks
at 34H were 81 points under last
weeks rally.
Liberty Bonds Featured.
Liberty issues retained their place
rs leaders in the bond market today
four OF that group rising to par or oet-
4 ter despite irreSularrty and occasional
heaviness in other government loans
Mexicans manifested further weak
ness in the early trading. but rallied
although rumor had It that the present
conferences between international bank
"a ers and representatives OF the Mexican
government would Re barren OF results.
United Kingdom 5t='s were hrm' r.
CARELESS Of the easing OF British eX-
change here Cuba Republic tves or
1904, Chile Republic and Chinese Rail-
way fives also Improved.
Toledo. st, Louis & western Tours
St. Paul 80, Brooklyn Rapid Transit
sevens. and Consolidated Gas sev9ns
were one 20 two points lower. but hrni-
ness was shown by Baltimore X ONO
convertible Az. Reading As. Illinois
Central refunding A., and Rock Island
refunding As Total sales (par Nalue)
aggregated s15.33T00O.
Excepting tho successful offering ot
S250.0O0. 900 certificates OF indebtedness
by the treasury department. the day
WAS devoid OF new undertakings