The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-11-10
BREAK RECORDED
ON STOCK MART
Widespread Liquidation
in Final Hour Cause
of Setback

SEw YORK. Nov. .--widcspread
lqudation In the final hour OF to-
days stock market, precipitated By a
taarp break In General Asphalt is
sues wiped out the fairly substantial
gains made I'm the earlier part OF the
se4sion and caused losses OF / 10 ?
points OF active shares.
New high records for the year
were made by May Department,
stores, Van Raalte SILK, Remington
Typewrlters first preferred National
Biscuit. Underwood Typewriter pre-
fclrcd and American Smelters secur-
tics A.
short covering was an important
factor II the early advance. some
good gains being made by domestic
oils. shipping, rubber and tire stocks
These gains were Cancelled. how
ever. In the final reaction. General
Asphalt common was down q.
points on the day and the preferred
Independent steel shares we're hit
rather hard In the final selling, Gulf
states steel dropping 2% points be-
low last nights close Crucible 2 and
Republic and Midvale on each. steel
common which was within point OF
It's years high during the afternoon
later Cancelled It's gain aud dropped
u point below yesterdays final
figure. Equipments also proved n
vulnerable target. American Loco
motive yielding 2Ia points and Bald
win, pullman and Lima to Ia.
Mexican Petroleum, the conyer-
sion privilege In which expired last
night was considerably less active
today gaining four points on turn
over of less than 1900 shares
Among the number Of active
shares which fell victims TO profes-
Faonal bear pressure were Stude-
baker, Consolidated Gas. American
Can, American Woolen and Corn
Products. Allied Chemical was ham,
mered down nearly five points. Mex
team SeHhOard lost nearly n points
that stock now selling slightly above
SIS a share.
Total sales we're l,0OS,000 shares
Cali money held steady Mt s per
cont throughout the session. Time
money rates continued firm with
trading quiet. Only a small amount
OF new commercial paper is coming
into the market, most OF It maving
at 4A per cent. a much stronger
tone prevailed in tudays foreign
exchange market. Sterling rates inn
proved tractionally. French. Italian
and Belgian remittances, particular
ly two latter made good recovery
from yesterdays pronounced weak
ness.
Unfavorable news developments in
the near east caused another sinking
spell in the prices of foreign secur-
tiles in todays bond market, the
only other feature of which was the
strength of railroad mortgages.
Italian IS and Seine Is each
dropped points, while losses of APP
proximately point took place in
Framerican 7hs, CZecho-Slovakiar
SIS and Brazil IS.
Baltimore AZ Ohio, southwestern
division 3l5s rose la points today
while gains OF / II TO points were
made by New Orleans, Texas & Mex
leo Is, Minneapolls-St. Louis refund.
ing 4s and Erie convertible Is, series
a and b.
Profit taking was held responsl.
bic for the "a point drop in Chile
Copper rs, which with General Elec.
trio 5s and Liggett Ss Meyers SIS, eact
off a point, were the weak spots II
the Industrial division. Two OF the
strong features in this group were
Wilson convertible SIS and Bethle
hem steel 5s of 1885, up ! and y
points, respectively. Local pubic
Utilities also were weak.
United states government bondI
were irregular but mainly higher
The first "a IS advanced 90 cents OF
800. other changes were nominal
Total sales, par value, were Sl9,
$4,000.