The New York herald., 1922-04-07
STOCKS SOAR MAKING
BIGGEST DAY in YEAR
Recalls Great Markets in
War Times, With New
One Hour Record.
1,671,137 SHARES SOLD
Fine Squirt in Mex Pete on
News Of Bill to Recog-
nize Mexico.
GAINS RANGE 1 TO 6 POINTS
Libertys Strong, lowering at
50, While Railway Bonds
Are in Good Demand.

The New York Stock Exchange had
its biggest day in more than year
yesterday, with sales Of 1,671 ,139
shares Of stock at extreme gains of
one to six points, In contrast with ag-
gregate sales of 1,700,951 shares on
December 21, 1920, and approached in
volume of business the huge totals of
the war, period, when two and three
million share days were experienced.
In one particular, that of the number
of individual stocks traded in, yester-
day established Stock Exchange rec
ord for all time, with 448 stocks in
contrast with a previous record for a
single day of AL.
Had the traders on the exchange kept
up throughout the session the gait at
which they started to do business when
the exchange opened they would have
had a day In which almost three million
shares would have changed hands. for
during the first hour $4,000 shares were
sold. This was the largest number of
shares sold In one hour in two years.
and gave early indications of the vast
total that was to be amassed during
borne out. however. as the total did
not approach by several hundred thou
sand the aggregate sales indicated by
the first hours trading.
sweep Il All Along Line.
But the trading swept easily beyond
the bounds reached in the other great
markets OF this year-the record for
1922 up to yesterday was little more
than. 100000 last Monday-and prices
were carried forward rapidly all along
the line. Speculation turned quickly from
one group Of stocks to another, and in
the turn Of Mexican Petroleum in the
last hour of the session 1t was lifted
more than six points under the greatest
outburst Of speculative enthusiasm seen
for many months. Although there was
much selling throughout the day by
traders who had accumulated large
profits, the market absorbed the orders
without any signs of giving way.
Trading in Mexican Petroleum and
General Motors. although the former did
not become active until the last hour,
was exceptionally heavy. Some $4,000
shares Of General Motors changed hands
during the day at prices which rose
steadily. while tho total sales of Next
csn Petroleum for the day were $4,000
shares. OF these. $4,000 were handled
in the last hour, interest in this stock be-
ing heightened by the announcement
that a bill for the recognition of the
Mexican Government had been intro
duced In Congress.
Libertys and Rails Active.
While the stock market had the CEN
ter of the stage, great activity in bonds,
especially in Libertys, marked the day
as one Of the most important in The
years investment market. Three Lib
erty issues reached new highs and prac-
tically all series stood at about 80 at
the end OF the day. There was also
very active buying of rail bonds. cir
culation being stimulated by news of
improving railroad earnings and con-
struction and development plans.
Foreign exchange took very irregu-
lar course. with the exception of Italian
and German rates. but this was ascribed
in large part to the demand made by
England on her former allies for in
terest payments on war loans. Eastern
Europe rates were firm on the success
4 of the Czecho-Slovakian loan and the
Greek quotation was not affected by ad-
verse financial reports from that coun-
try. In the South American group
marked weakness was shown by Argen-
tine u0ld and y,apar rafea