The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-12
STEEL MERGER NEWS BRINGS
RECOVERY IN STOCK MARKET
Lackawanna Steel Cams
Seven Points and Republic
Three -Rcactionary Course
During Most Of the Day.

Ncw YORK. MAJ H.! .r'f"sS'"n.',
hc..v. ,n- NrtH accounts .hLr.'. icr."cI
IN. -r..jrr part ni today ""."rH""
l4r~ai.'u~ IN :ao >locH market. :haN'hS
tNr 3..rrtu ,.r,'ra'.N" SESSION "A "h.,"
"a,.''.r...,ry ;c;a"ur!cs prevailed ne
-u...,. i.~' e&p"i.ru.,d "a sh.r" r"anI"
"a .-- nn,h hna-. nnwcI"r. when rHM"E@
~, =. .ur' e: 81 ,Hv E''Nl""rw AN" '~''N
,A,tau, .itcc. 'u1l: ..a'rS. wh'Eh hItcr
were c,nurmrd. rr~I.;"d 3" heavy e"H -
ing ot hose aitd .,iri.It"d shares.
I.lchIwAnnN led ch" group - " h'
c,:u OF points. E"'hi"ucm rising J.,
and Republic Iron :. WIKI advances 90
! {" = ru.,liS ~ ";r"- >.'-,Nl."d In"'''"'
den, s,"e!s. but L. :. >ic"t "Eur'" '''H
moderately Il; q :-a,t,.';'t. gan.
During the carly u"i 'ni''n''" '''F
periods II The TRADING shorts Nr'"''' I"
gather fresh cnu-acN from N" absence
Of puo,ic interest and tn" evident ''.'''
urr II ne list t. respond :" ihHoTH'''
dcvr.op.nc7ts. inc,uL!rS increased steer
tonnage and sin higher oil "r'SrS
CONTRARY "a rc,"a' movements 'he
market bruadc""j as :a'S T'''''t'"
Among the dIN'S offering we're N!'''''
ras spccualtles. whose sharp reactions
suggested lrvoiur.Lr> liquidation ~
y,arclred or si"Sruil;''" h""NnE~
Losses Reduced at Close
There n..S a.Sn considerable S''hHh ",
ssa~ur,d o- representative ra''rNt"
,b,-c, ,..:tr, g.. ,rlr~rouuncn'a'S
and several %. tn" ."R''rS ."h.'' JNh'"L
,-,rspn-,.,;l,,.~ .t-ca unar" offerings ~
re-. 4 I.,,.,... md >,.,":.G OF IL" cot
ron carriers Thrs" l'Ns"S w"r" largely
reduced at the close. OILS ais" ra'E'hS
with ,,.hacro and utilities. tn" latter IN
.,lud.nr l.lrlvdr r,NS At gain o. -
points. Sd;eS arou0tct % l'l|"'P"'
shares
Tn. money market VAS easy rev"rS'
Ing recent tendencies. Gail oars dr"pN'''
10 g.. pcrcen; a, midday aHa tim" 'NnIS
wers more freely supplied. Hu' Al! 'h'
longer rtfuriUrs hold arw at - per
cent.
Trading n n" principal foreign rH-
chances was du'r arH 'Nc irregular t"n"
~ n,,.,,,.ons reflected further doubt
resnc,.,,rc the outcome ot conditions at
,;cro, sterling hills CaSed slightly.
Frame. and Irre wcr" hrm and mAcA'
shownt A eicN' REACTION. Among no.
trails the l'ut..'r rate -"S" sharply an"
SUg-~ frames 1lGIEa y f"'l under pa:
Hsdtancy In Bonds
Eond. Nrr, ueS.taut a"d du,l TO-DAY
~. E, ,bo nan 70 'ertsd moro Stahlt-
nv than the stock "S'. Virtually al OF
ne liberties closed - Nom'na. recession
and tho only foreign issues - $40"
S-r,rsSs az Strength w"r" tN' I'ai'n-
,,,c-,rars. cSr...a,iy Mexican Tours
and Uruguay ".@h'S. ~
Local u,l'.;,r cave way 20 f'riH"r
rea'r4.aE sales. notably Er"ok'E1 EAnid
Trans;, - and consolidated ',aS , :
Ir:cr5orouGh Metropolitan aus also
easing.
More tran the usual number % rail-
way ISSUES wa traded in but the broad.
- srope was orcaS;on"d by increased
selling. 81. Taui issues. as" ih'S' o.
Iowa central. Peoria and Eastern ''ii-
ro,s Missouri. Kansas and Texas. Nt'hi
SON and Eve were under pressure" To-
,.l ca,,s par yaluc) aggregated 5I''-
$4,000. 3
B.ts co- s4cc5. nnn Citv o. Boston
no-re.t coupon bonds Were oreaed mere
80 ,u,, rded TO 4 syndicate Of local
nanlerS ~ iOn.7l. tn" bonds WILL DC
rrb,ic,y offered tomorrow.