Arizona republican., 1922-04-16

Rails suddenly came forward in tht
later dealings under impetus of Atch.
ison, st. Paul preferred: Seaboard All
Line, New York Central and Canad.
ian Pacific the last three named be,
ing taken in large individual lots
Electric Storage Battery and seyera,
allied issues were among the lniscel-
ianeouS issues to score new maxi
NUNS and the seasoned equipments
such as American and Baldwin Lo-
connective. Pullman andd American
Can reflected the confident opera
tions of poois.
The clearing house weekly state
ment showed few exceptional
changes, actual loans and discounts
expanding only moderately. A cash
contraction of $12,700.000 however
reduced excess reserves to less than
s2,000,000 compared with the total OF
$47,571 900 in the last week of March.
WEEKLY METALS
NEW YORK, April 15--Tfe coal
strike was the principal factor in the
steel market this week. as the in
roads made by the union in the nom
union fields threatened to very Sc
riously affect the supply of fuel. Con-
sequently, the entire market was
very nervous and unsettled, although
demand increased in volume and
prices were firTner all around.
The high pig iron market was also
influenced by the coal strike and
prices were higher with a few fur
naces already brown out on account
of the fuel situation.
Copper was less active but firm.
While the larger domestic consumers
a,- half - hrt oh VA =
tie since prices advanced above the
1875 cent level for electroiytic. the
market has been very well main
tanned with producers showing no
lack of confidence in the outlook.
Lead was marked up to five cents
by the leading producer and was held
still higher by some Of the outside in
terests. Demand is broad with April
well sold up and May bookings ahead
of the previous month.
Zinc. while firm. and still quite
active. with fair foreign inquiry
showed some slowing down from the
recent large business.
Antimony is firm, although con-
sumers have apparently supplied
their wants for the present.
CHICAGO BOARD
CHICAGO, April 15-Wheat acted
tight and with buying of May by
houses with eastern connections and
rather general short covering. prices
advenced readily with May in the
lead going to a wider premium over
the July. The close was strong IA
to 9A cents net higher with May
$142A to SLAB and July. $1.25A to
$l.25. Corn was up / Ii to 1as: oats
gained h to q while provisions
ranged from z to % cents higher
Offerings OF wheat were not large
early and the advance was easily at
tanned with some stop-loss orders
caught on the way up.
Foreign news generally was rather
more favorable to holders, as drought
prevails in North Africa and reports
of abandone acreage are increasing
from France. Russia it was reported
had agreed to pay it's old debts and
this was regarded as a big factor in
the worlds situation. The sentiment
among traders here which has been
bearish of late, has changed consid-
erably and many of them are now
over on the bull side. the action Of
the market of late suggesting that
the surplus has passed into strong
hands.
Corn and oats were influenced
mainly by the action of wheat but
shorts covered freely and there was
good buying by local houses and a
higher range was easily attained.
Provisions were dull and prices