, 1922-10-19

. ANA -
/ stocks had a depressing effect on
4 prices in today's stock market. There
was good buying. however, OF railroad
4 shares and a few special stocks in
1 which pool operations were quite &C
/ tive United States government
. bonds also registered substantial
gains
sales Appropriated i.s75,oOO shares.
NEW YORK. Oct. I9-strength Of
/, oil shares was the feature at the irreg-
. ular opening Of today's stock market.
i Mexican Petroleum climbed Al points
In the first few minutes anu PAN
| American "B" stock. which reports in
the financial district say is to be
Transferred for Mexican Petroleum I'M
der a new plan OF exchange sold high
err than the "A stock for the first
time.
Corn Products established a rev
peak price at a gain OF more than az
points and there was a fairly good de-
man for Burns Brothers A and b..
Consolidated Gas. United Fruit. IA,
| nous Players and Julius Kayser, all
OF which advanced one to two points.
The advance in rails was led by North
ern Pacific and st. Louis-Southwest-
crn. each up n point. Metal n rub
her sock improved fr~actlonally. Some
OF yesterdays leaders received set
backs today. National Biscuit dropping
5K points a. Standard OIL OF New
Jersey 2n Cthr weak spots We're
Dawson ctAmscsl. off az at its low
OF the year. S..cific oil n Republic
steel, off . each and Bethlehem "B'
off IL. Baldwin and s%tudebaker also
were resctionary.
The abundant offerings which met
the initial rise IN various shares en-
couraged active ceiling by short inter
ests resulting in n large proportion OF
the list being carried down a point or
more below Yesterdays final figures.
Particular weakness in oils, %steels. and
motors influenced extensive profit
taking. Some rather violent breaks
occurred in special stocks. notably in
Liggett and Myers. which dropped II
points; National Biscuit 81: American
Express and Otis Elevator 5 each and
Pacific OIL md Dawson Chemical 4
each. A bulllsh demonstration in Corn
Products end a renewal OF heavy buy
ing IN some OF the high priced oils,
combined with the marking down OF
the call money rate from 8 per cent.
tho initial quotation 70 AZ. caured
most OF the list 70 rally again before
noon.
Execution OF large buying orders IN
the railroad section carried up Chesa-
peake and Ohio. New York Central,
New Haven. Norfolk and Western.
Northern Pacific, Reading. Atlantic
Coast Lime. Great Northern preferred.
Lehigh Valley and Canadian Pacific
from N to two points beyond vester-
days final figures. This demonstra-
ton OF strength encouraged trading
ventures on the long side in many in
dustrial and apecialties. Quite n num-
Der OF shares mounted to rev high
prices for the year. including Corn
Products n Manhattan Shirt. which
gained s points each. Burns Brothers
B 5h, General American Tank 8
and American Can 3. Lorillard was
also 4 points higher ad American Lo-
connective. Electric Storage Battery,
Kayser. Reynolds Tobacco. Continen-
tai Can. Porto Rican Sugar. Consoli.
dated Gas and Columbia Gas scored
substantial advances. Mexican Petro-
leum and Standard on of New Jersey
huctuated while Studebaker. Republic
Steel and Pacific OH encountered in
termittent selling.
Lack of sufficient buying power to
overcome renewal selling pressure
caused prices to sag again in final
dealings. Mexican Petroleum dropped
IL points from its early high and
%steels, oils mt equipments all sold
around their low levels of tho day.
Rail and GAS aharas ahovvad haitian "a.
sistance to selling pressure. The
closing was irregular.