The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-13
6PEC ULAT|vE ISSUES LOSE
HEAVILY IN FORCED SELLING

Hew York. June l".--SclliuG Of the
same enforced character as that which
the sharp rcaCtionarE noNS'
"a cnt OF last week VAS increasingly "N''
A,t on the stock exchange today. Sp''-
3tiye issues reacted thre" 10 ton
A,ts on sales approNimaunS !.'"'.'V'
tIn substance. much Sf the i:V"tdtt'"A
was ascribcd ~ interests which a.
ready have or are about 10 sever 'hN.r
direct relations with the exchange IN
consequence a. that tNst:tut:"','S DRASTIC
,ropram Of "NoU~" cleaning.
other offerings were attributed l"
brokers who were Sa.dro have rece!V"A
broad in;!mat;uHs thar ~" exchange >"
longer would cou0ttHaH"F pool opera
lions in STOCKS % obs .urc or mercy
potential value. .,.,,.
Tbase forms Of t,Iu'dalioa were a'''''
.rateI in the later dealings ny Pr
pcunccd expansion 90 short contracts,
based in part On tho markets lack "a
support. together wtthOther adverse ue
velopmeuts. AmonS theS" Wh''n
rIination o. the Paris Bankers '"ni"',
ten 10 proceed with,hc international
loan that action causing weakness !"
International currcncics
Cover Cnc-third Of the days business
was transacted in the iinai hour t""'
stcels, motors. equipments. CopperS' ''r
tiles food SproiaitirS and chemicals
were chen tn, center - the reaction.
Setback in U. 8. Steel.
steel which had been irregular III '"'
narlv part OF IN" session. vas '\'e
s,velv offered a. n"' loss OF l"r't tn"
ore.halr points Independent steers
notably Republic and NAhau'uh' '''
ed moro severe declines.
NIexican Petroleum. General ASphaF
aud Sinclair featured the weaker "Hs'
and Studehakcr BAL lw,n Con iro"'
ucts l. : Rubber. American N""'""
and DAWSON Chem'"N broke snaTp'E'
;he latter making u net loss 81 =
points
High grade rails wCr" immnn" ir""
,cresSure until tho reversal became ~
sweeping 10 withstand. Losses Nrno'|
transformations we're head withtr mod
crate limits. however the "hlet sur
rere-s being Southerr Pacific. R"ad'nS
9, Eris =, NO, declines Of one 10 almost
two points. w
CaIl money opeuCd ~ three per cont
e,scd 10 -, the lowest quotation mai
most five wears. hut gradually stftche'
40 stock market prices became nott
reactiUnarv. advancing - IN" uaN
highest quotation Of - per cent IN IN
ss,asr half hour. Tim" funds held al las.
weeks lcv,tS. with smaller oltecl"SS ~
long date accommodations.
FS,ilur, Of German loan ncgotof"nS
caused sterling I" react one-hAN ecu
while allied hills We're seven :" tw"'N'
coInts lower ard German marks w."
limos, seven points under their price
fortnight ago. Dutch rates har2""'''.
hut all other continental rHmitian'"N
reacted with leading exchanges
Reaction IN Bonds.
Guided almns' entirely by N" 'Hr'
,h.r violent reaction il stocks today
session oc The bond market was "harar'
terizeA by many losses OF one 70 tWP
points.
ReverSals among Liberty bonds w"r"
relatively small few Of that S"ri"'
scoring nominal gains. bat foreign -
sues. especially French governments ana
municipa,S were mostly lower.
Atlantic frU!t OS"rSnS bT"k" NV
points and losses OF point were NuS-
tanned by Eric general Tours. chile
conner SKIES and Republic Iron hEeS.
New Haven SKIES suffered an cxtrem"
decline Of +, points and severa! OF IN"
minor western and southern railway -
yues cas"d largely fractions SAFES
fpar valued $1hSSG.ooO
New urd"rwritinGs ~ the lay w"r"
f.aru-ed h~ Atlantic Refining Sl5.Np".'
GOO i've prr cent h!tceu-Ssar dchHntrre
bonds ami IN. Public service compan"
~ Northwestern Illinois. 81 per c"nS
frs: lien =. per cent rtfundtaS bonds