The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-25

Ssr Work MAY c4.-TNe stock MAJ
ket'x initial response today 10 IN" 'ONe'
freight rates ordered by tho interstate
eommarce commission, t"o~ ~" ''''"
OF n general. though rCdcra'" advance
IN iunlor tranSpOrtacions. whit" repre-
sentative issues OF that class were IN
elined to react.
n, TIA who,e railroad and GnHno'a'
,,,srssts wero relieved al the long oe,
,sr-c. action OF the commission Anu
,ba general reduction averaging ABOUT
IN ner cent was within popular cNF'e3
tations. .,...,d
srv rals. notably Chicago & Alton con-
mon and preferred. Wabash rG"in".
Ard preferred A. and Lake Ere
Ws,tern was due mainly 20 pcrs'S''i'>
reports that these systems are "Ae'S :"
nrnr, in mergers or traffic agreements
proof that the railroad situation IS
hrirhteninS m It's broader aspects was
Furnished by tho vSur:Ut!"n OF olH'-
6e,dS on the common stock OF inc
cleveland. Cincinnati. chicago ..
Louis railway. controlled ey Ne" a0'N
Central interests. 49, r.,
Other divisions of the stock list t"'-
lowed their Irregular course OF the PI
ceedinE days OF the week on more llCo
crate dealings. their movements pe'n1
largely governed hy the maneuFeF9 CT
expedisnts Of professional interests
Independent Stsels.
Indeperdcrt stecls rose and teU 20 the
aeeompanlment OF the conflicting ru-
mors, extreme gains OF one 70 almost
three points being shaded in the !a't@V
part OF the session. Equipments were
featured BY Lima Locomotive common
and preferred. and affiliated issues a"u
coalers were at their best IN IN" una.
hour. when Reading hrst ana second
preferred showed gains OF ana ~
points, respectively. Sales amounted 10
$4,000. shares.
can loans opened and renewed at
THAR recent high rate OF per cent. but
.haded 10 81 per cent before the close.
A alishtly f-mer tone was shown eE
nrae money, most OF the so and so day
loans being made at per cent, longer
rnaturities ranging from ~ 70 "A per
cent.
All the leading foreign remtttances
were appreciably better on an increase
OF business. especially in sterling, francs
and lire. Bills on London got WITHIN
the smallest fraction OF their best Tor
the last three years. and the Italian
rate gained almost 10 points. Eastern
fnronean quotations were heavy. how
ever, and Far Eastern rates suffered
sharp reaction
Bond Market.
Railway freight reductions announced
hy the interstate commerce commission
ware without marked effect upon quoted
values In today's bond market Such
irregular tendencies as developed were
mainly attributed 10 frmer money rates
Liberty Sh's again rose above par
though closing slightly under that quo
tation and 4 majority OF the IS ana
AVS were also inclined to improve.
, Foreign bonds showed better tone.
Mexican As and SIS making up much
Of their recent setback with frmness IN
Belgian and Japanese government loans
and several OF the French municipals.
The greater part OF the days bust
ness conferred in speculative rails.
notably Fries. Chicago & Alton 3A's,
st. Paul refundIng AIS. Chesapeake &
Ohio convertible As. Missouri. Kansas
q Texas frst As. and Reading general
81, the advance Of the latter concurrtnS
with the strength OF the preferred
shares.
Several new undertakings toe mod
crate amounts. including utility. rail-
way and industrial projects. were
readily absorbed. Negotiations for
foreign loans Including one or more 20
South American countries, were re-
ported TO be progressing.
Total sales (pa- valued aggregated
s17,o3s.ooo.