, 1922-08-10
STRONGER
DESPITE STRIKE
Some Industrials Also Move
to Higher Levels in New
York Trading.

NEW YORK, Aug. io.-Strength Of
high grade rails IN the lace OF fur
Their complications in the railroad |
strike situation featured today's stock
market session. Shares OF several
carriers, together with a few high
chs industriais. moved TO new high |
sround for the year but some Of the
gains were forfeited In the weakness
v1sca developed toward the close. |
61,es Aypruxinnted $50. 900 shares.
hkprtealoa OF low priced indus
trials, eszaeinsd with an increase in
call money 70 8 per cent. halted the
advance r to anal hour. WHY'S
Overland common asd rreteTcd. Ken
necott Copper. Central Leafhe- and
worthington Pump yieided ons TO ~
points. The closing was fnssuiar.
NEW YORK. Aug. 1o.-ITegufar1
price changes marked the opening OF
today's stock market but the selling
of speculative favorites soon gave a
rs~actionary trend to the whole list
Pressure ssainst Baldwin and Mexi-
can Petroleum forced those stocks
down n point each. while studehaker.
selling ex~dividend was down a half.
Northwestern railroads, which
strengthened yesterday on publica-
ton OF tho governments bumper crop
report, owe c~ontrnrfiy today. Chi.
caGo and Northwestern rising n point
to a new high while Union Pacific
was down IN and Great Northern
preferred and Northern Pacific, zach
'ons-haif. American Radiator broke
through for a new high on n gain of
and Western Union was up one.
Pronounced weakness was shown by
'crucblc. American Locomotive.
United States Rubber and Mniiinson.
which were down l to IN points.
oils. motors. s%teeis. equipments and
a few miscellaneous shares continued
under pressure Throughout the day.
However. short covering in Mexican
Petroleum which had sold off 2 points.
was tho signal for n rally which car.
ried that stock up IL points above
last nights close and wiped out all or
most OF the Losses in Baldwin and
American Locomotives. Chandler and
Studebaker motors and Crucihie Steel.
An active inquiry for low priced rails.
which were neglected yesterday, also
developed in the upward movement.
st. Louis Southwestern breaking
through for a new high for tho year
with sympathetic advances of 1 to III
points In the preferred stock OF that
road. Texas and Pacific and St. Louis
and a Francisco. American Can.
Maxwell Motors b, Pan-American on
and California Packing also moved to
higher ground. Call money opened at
4 per cent.
high priced railroads and industriaIs
and h influence of this buying WAS
felt through the list. The readiness
with which special stocks advanced
materially or moderate absorption in.
Dictated scarcity OF offerings at current
levels. Chicago And Northwestern.
Great Northern preferred. Canadian
Pacific. Louisville and Nashville,
CT Chesapeake and Ohio, Sears Roebuck.
International Harvester and American
Brake Shoe were foremost in tho early
afternoon advance. Call money hard
ened to ~ per cent. but this exerted
no restraining influence on the buying.
Money.
NEW YORK, Aug. 1o.-Call money
firmer: high s; low 4; ruling rate d;
closing bid 8. offered at 81: last loan
IS. Call loans against acceptances
lsh. Time loans firm; mixed collateral
s0-eo days 4a<k: 4-6 months Ak;
prime commercial paper 4a4N.
-
Nfstals.
NEW York. Aug. 1o.-copper
steady: e~iectroiytic spot and nearby
II; later 1&a14&
Tfn-steady; spot s..a5; futures
s2.a7.
Iron-steady: prices unchanged.
Lead-steady. spot 6.75a5.so
zinc-ouiet; East st. Louis spot and
nearby delivery 66,25a6.s5o
Antimony-spot 5.25.
Silver.
NEW YORK, Aug. 1o.-Foreign bar
silver sec: Mexican dollars 52&c.
Foreign Exchange Steady.
NEW YORK. Aug. 1o.-Great Bril-
tain demand 4.4sE; cables 4.46; CO.
day bills on banks 1854.
France demand sos u: cables SOC.
Italy demand 4.54M; cables ass.
Belgium demand 1861; cables 7.6s.
Germany demand .11k: cables .11A.
Holland demand 3s.T5. cables $3.50.
Noryrpy dennandkf7.23.