The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-06-10
Industrial Organizations
Increase Their Production
Sterling Exchange Goes Up
Continued Improvement Among Foreign and Domestic Busincss
Is Feature Of week. H1 NNNN w


it W. =. tDtSfNS
NEW YORK, June iO.-A con-
tlnuntion OF the Improvement IN
the domestic and foii.ign business
situation. featured by an advance
in sserling exchange TO the highest
point IN over three years. return OF
caii money rates TO below ( per
cent. Increase IN the production OF
the important Industrial organi4i-
tons OF IN. country and a general
quickening Of wholesale nnd retail
turnover OF commodities, we're tho
principle incidents OF the past
week.
It has long been evident that tire
business organizations which have
been pursuing a hnnd-to-mouth
policy IN the acquiring and di-pos-
ing OF the stocks Of rnw and mamn-
featured products which constitute
their line" would eventually real
lie that the stabilized price condl-
ton Tor which they had been wait
Ink would ultimately be reached.
and that the exhaustion OF their
supplies would compel them to sock
rrpienirhment un a larger HcaIc
than they have been employing
during the past year. That time.
according 20 all reliable Indications,
has now arrived. and with II a
notable increase In the quantity
and the size OF the orders that ars
being placed at the primary points.
The weekly tnbuiations of prices
OF the reliable commercial agencies
has already begun to reflect tho
heavier demand for these com
moditlcs. by lar the largest pro-
portion uf prize changes being up.
ward.
s,ock sarkct
The same condition has prevailed
In the stock market. where the
story Of the averages IL of the same
tenor. Special developments in
groups OF stocKs has. of course. ac-
counted 10 some extent for the n
HANGED public Interest In them but
for the o part the savings OF
market prices are moi partial to any
particular group Of stocks. but en-
brace the whue list from speculn-
tive and pool manipulated special
ties to high grade dividend Issues
that might be classified as invest
ments rather thnn speculative.
Evidence OF the increasing par-
ticipation In the stock mnrke; may
be seen in the advance OF Wall
Street brokers loans to s1~.sO0.O00.-
900 the largest figure since Oct.
1919. since April 80. the expansion
has been at least $3.50, OOO, 600.
Bankers express the opinion that
Wall Streets borrowings together
with The pending soldiers bonus
hill, have REGARDED any further re-
IrtaH.la Ia NA. .AIa....asAN - -
the federal rsservo banks. n is
interesting TO nnte that with an
this expansion OF Wall Street loans.
the federal reserve system has not
been called slpon 10 share In the
extension Of such loans. The re-
discount Of member hanks with the
federal reserve banks sim holds
around the low level of Sf7i goo,
600.
Investments
The past two weeks has witness
! ed the consumatlon OF "A number
OF important projects in connection
with the flotntion OF foreign loans
in this market. Bond prices ha=t
remained stationary In mos, de-
p%artInenis, with "A slight tendency
10 lower levels in the speculative
division. from which Interest has
largely been diverted to other
fields. The rise tn these bonds ia,
permitted a great deal OF profit.
taking by the professionals and
spectators who were looking foi
temporary advantage only.
More than s2S.o00,OOO of bond,
have been called for redemption
during The current month. Thii
follows the calling Of slightly mon,
Than $4,000, 900 In May, aud
while the total which viii bee called
In July cannot yet be estimated. III,
amount h already known 20 be sub.
stantial The fact thar only abouI
S4.5tO.00O were called IN June o.
last year h. a sufficient com
mcntnry OF the change In none,