Arizona republican., 1922-04-13
Days Review of
the New York
Stock Market
fReoublIcan a. p. Leased WireJ

TRepublican a. p. Leased WlreJ
NEW YORK, April 12.-Buoyancy
marked the tone of the stock market
during today's early and intermediate
stages, the later dealings being char
acterized by considerable irregular1ty.
Sales of about 1.650,000 shares constr
tuted record for the current move
ment.
dications of industrial and CONNER
cial betterment. and higher quota
lions for such basic commodities as
the oils. pig iron and finished iron
and steel. were among the develop
sments which continued to stimulate
hullish sentiment and diminish the
short interest. The one discordant
or pessinlistic note was sounded py
the coal strike.
Coal shares were dull and rails as
= whole contributed only nominaHy
to the days business. Mexican oils
we're sold on rumors of a disagree
ment between that government ana
American interests regarding export
taxes. and steady profit-taking de-
tracted from the strangth OF leadlng
motors. 49,
;no tho forenoon were made largely
under the auspices OF equipments
domestic oils. junior steels, leathers,
1,aner specialties and shippings, to-
baccos and chain store issues, WOOL
worth rising on the declaration OF the
extra dividend. -
The only sharp reversal OF the
session came in the final hour, wnen
Mexican Petroleum fell almost
noints from its early best and caused
other leaders to react 1 to 5 points.
The one striking exception was
American Locomotive, which forged
steadily ahead, closing at a gain OF
4 points. -
can loans opened at IA per cent,
hut the light demand at that rate
caused a reduction to per cent on
the second hour. More time luhuS az
were placed at AZ per cent LOT ~
and SO days, but longer dates heiu
around ~ per cent. 49,
German rate was the only exception
~ the higher level registered by
majority of today's foreign exchange
Quotations. Sterling demand pliiS
we're strong at 4.41ss,, allied remit
tances gained 4 to points and great
er strength was shown by CZecno-
Slovalx;an bills. The Greek rate was
,,,,ehanced. but dealings in that re-
niffance was nominal on the unset
fled conditions reported from Athens.
CHICAGO BOARD
CHICAGO. April 12.-offerings in.
creased and buying power gave OUT
IN fire Chicago wheat market tooay
after prices had scored moderate
advance based to some extent on
higher quotations at Liverpool. Inc
close here was unsettled, varying
fron cent net decline to cent
edvance. with May $1.S0% ql.3l ana
yalv sI.2Ojk al. 1.20A. Corn lost
szade 10 - cent and oats "a TO -
.Arf In provisions the outcome was
unchanged to 20 cents lower.
At first demand for wheat showed
considerable vigor, uptnrns in Liver
nool nrices having been scored not
Ivithstanding declines yesterday IN
tse limited States. A forecast that
Argentine exports would be smaller
tended also to strengthen values, ana
81 too did word of continued bet
for domestic milling call IN tne
Southwest. Besides gossip was cur
rent that the winter crop narsest
promised to be late in nearly all oi
the surplus states. 10.
Turning points at which selleIs M ue
oan 10 outnumber buyers in tns
S,-heat nit were at prices above Sl.S5
for May and S1.21 for July an
that more wheat at Omaha had been