The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-06-08
POOL STOCKS IN
ADVANCE Squirt
Finished Products Also
Reveal High Prices;
Cosden Benefits

NEW YORK, June Higher
quotations for various speculative
issues dominated by pools or pro-
fessional interests and further ir-
regularity or heavness among
shares OF recognized value featured
todays broad but inconcluslve ses-
sion OF the stock exchange.
Apart from the lack OF public
interest developments were mostly
helpful to the markets constructive
side. Cali loans fell to last months
lowest quotations. supplies OF time
funds increased and commercial
.paper was in better demand.
Higher prices were quoted for fin
ished products in the Ohio Steel dis
trlct and from West Virginia came
word OF the reopening OF steel mills
after a year of suspended opera
tions.
Copper Inquiries Increase
Dealers reported steady increase
In the inquiry for copper at lac for
July and August deliveries and ad-
ditional advances were announced
in other base metals. In the oil
trade predictions of yet higher
prices for crude and refined prod
ucts were current.
The major portion OF the days
turnover in stocks encompassed the
oils, motors. steels. minor rails,
with a liberal admixture OF copper,
shppings, secondary equipments,
chemicals and the usual miscella-
neous issues.
Individual features OF strength
among these shares included Cos
den. Maxwell "a" and "B". Stude-
baker. which threw off its early
neaviness, Jackawanna, Midvale
and Republicsteels. Lima Locomo-
tive, Pressed Steel Car, Chicago &
Alton common and preferred and
Iowa Central. Consolidated Gas,
Montana Power and Mackay ,om-
panies were among the strong util-
tiles.
L. S. Steel raised in the later
dealings and Mexican Petroleum, n
majority OF the domestic oils and
numbers OF specialties closed at re-
cessions of fractions TO a point. In
vestment rails were sluggish, ignor-
ing better earnings, as Illustrated in
the case of Seabord Air Line. where
a heavy deficit in 1920 net was re-
placed by a large gain for 1921.
Sales amounted TO 100000 shares.
Foreign Exchange Light
Trading in foreign exchanges was
light and the British rate forfeited
part of its recent advance on profit
taking. German marks were bet
ter. Mixed changes We're recorded
by allied remittances and similar
tendencies were shown by neturals,
aside from the Dutch rate which
was at its maximum for the current
movement. Liberty issues were in
the forefront of today's dull bond
market, the tax exempt 1-2s at
l0O.14 and the first las at 10o.10.
establishing new maximums with
moderate advances for majority
OF the entire group.
Mexican government issues con.
tinued to react to the delay attend
ing debt conferences here but mos,
Of the European war flotations
strength. Many of the underlying
fractions to almost points. tina,
division again being chiefly repre-.
sented by Peoria Eastern, Toledo
St. Louis & Western. Chicago &
Alton and Atchison issues.
Industrial utilities were inclined
to react especially Cerro de Parco
SIS, Armour 4 l-2s, Southern Bel
Telephone 5s and several of the
local fractions. Total sales par val
lie aggregated s1,S43,0O0. Easy alb
sorption of new undertakings tes
titled to the strong tone of the in
vestment market. The days offer
ings amounted to about 10000. 900
these including Consolidated Gas
| Electric Co. (Baltimore). 10000,
, 900 per cent bonds. and the cit!
OF Montevideo s6,000,00O per cen
loan.