The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-10-05
STOCK PRICES BID
UP IN EARLY PART
BUT LATER DECLINE
Buying Movement Influenced by
Standard Oil of California
Declaring 1000 Dividend.

NEW YORK, Oct. 4.-Stock prices were
bid up in spirited fashion in the early
part OF today's stock market session but
heavy realizing sales at the close result
ed in a material reduction in most OF
the gains.
Apart from the speculative belief that
the recent reaction was an adjustment
OF weakened technical position and mad
about run its course, the buying move
ment was influenced by the announced
intention Of the directors Of the Standard
OIL Company Of California to declare a.
100 per cent dividend easier money rates
and the improved situation In the Near
East.
Standard OIL shares again were the
dominant features. Forty Thousand
shares OF standard of California changed
hands in the first hour. the price pelns
pushed up to 1874 ga, gain OF 81
poInts over last nights final quotation
and - Ia above that OF Monday, but II
Welded to 1872 IA at the close To-Day on
,,-ofit taking. Standard of New Jersey
touched 2l0 IA a new high, and Ia
roints above yesterdays final quotatlotl'
but II fell back materially later as olu
MEXICAN and California petroleum ana
1Jouston and Pacific oils, which were up
70 ) points at their high prices.
associated oil yielded less Sharply
showing a net gain Of points
Nraxican seaboard issues were reac.
,,oparv under the depressing influence %
t,,rtber decreases in production IN Tic
Toteco field. 49,. T., .
pooI onerations were manifest IN
,,,,,,her of special stocks. National DIS
ov,t which Jumped 10 IA points yesNe'
Adv, was pushed up another i polnN9
49,. ,,+ lost all but IA Of Its gain NC
tore tho close Buying OF TINS SUN
800 IN upconfirmed reports or spi4'
,,,r 90 the present shares ana p'o-
,ts,a+cIv larger dividend IN the new
f,, COCO Cola also rose in response ~
go. ~ extra dividend disbursement 10
'1.aui,,, a net gain of 3 % Po''l,s
-, vas pushed up TO a hlsh Va.
- ',,,or,er+ that the company WIZ ="
a5o,,ntion on January l. neat,
,,,,standing 7 percent notes 49,,
''9 III. amounted to $3.OOO,ooo' C'-Ie
VI a,oc,alties included corn prou uoe'
80 Uupont, up Ii; inter-" ~.
UP -. an 2. Kelley Wheels up o 4l''
Department stores uP
RoeDuIN Iockawanna and Westel"
1afa
- nas been bought heavily OF late 20, ~
"n'l I.. 80 stool, or extra distrlout'oil ""
-, n a new high at l4' ~ 80
us' sou hack for a net loss OF - az "r ~,
o,ose. Trading in other rams s,,m,ny mos
c'oa'' eSares were sluggish durlhe - ~,
S' zee Sov although Republic Cru ,..a u =,
ond GuN states became au,. quiz Tooderat
ana ~, hour and registered Inoue d
the l'"' sn,ppIngs were in better ',n ave
gam, nreferred being pushed up or
marine airline. P apd American International COT
po Total sales Appropriated l'-'''''
shares. .,.- casing Of the ca
Ihete rato which opened and re REM ~
mo"ey . and softened to Just oe araerc s
az the time money ana eo''''''~
paper " soatnre Of the foreign exc r,Sa ;
Inc was the drop Of German ma = M hun
, ,,a' new low rate Of 11-l0 CEN" go. de
the new Other ~, exchanges were urn, ne ne
dreu: aterIing climbing to AL So, g On or
man - 2 Is. with slight lHpsUre dol
,,e continental rates. Ca 1,i@u+ nrem
IN m III" u,ere stnl selling at sl'SH' prom