The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-20
LIBERTY BONDS
FEATURE STOCKS
Decline Of German Mark
to New Low Record Is
Also q Factor

NEW YORK. oct. 1e.--Strength Of
Liberty bonds, decline OF German
marks to three cents n hundred, a
new low record, and highly con-
fused movement OF stock prices were
the outstanding developments in to-
days financial market.
A number of stocks. such as Corn
Products, American Can, Manhattan
shirt and Burns Brothers ~ were
pushed up for slzeable gains, while
others like Pacific OIL, Republic
steel, Dawson Chemical and -Stude.
baker, were under heavy bhssure
The third quarter deficit OF nearly
$4,000 reported by the Republic
Iron & steel Co. continued 10 have
depressing affect on stcels, Republic
dropping 2 u. Bethlehem "B' as,
Crucibie IN, Nanadlum 1 u, Re-
plogle and LaCkawanna / each and
United States Steel ~. Equipments
also were hard hit, losses of / TO 2 q
points taking place In American ana
Baldwin Locomotive. American Car,
Pullman and Railway steel Spring.
Mexican Petroleum fluctuated
within n radius OF 10 points and
closed at "A slight fractional loss,
while Standard oil of n. J. dropped
GA points below last nights close.
Weakness In Pacific oil was accom-
panied by unconfirmed rumors of a
possible cut In or omission Of the
dividend which was expected TO pre-
cede the announcement of new IL
uancing TO provide funds 20 carry
out an extensive drilling program.
standard oil of California, which IL
supposed to he interested in Pacific,
sold off nearly ! points, Other oils,
with the exception OF Royal Dutch,
which improved Ia points. showed
losses ranging from small fractions
20 nearly "a points. Corn Products
which has been mentioned IN con-
ueCtou with possible stock dividend
distribution was one Of the most
active OF the spocialties making "a
net gain of 3& points.
Total sales we're 100000 shares.
Call money opened at 3 per cent
and oased off to 4is I'm the second
hour, holding at that figure until
The close. There was less activity I'm
time money but plenty of funds were
available at per cent for three to
six months maturitias. The CONNER
cal paper market was slightly lirm-
en-.
Demand sterling dropped abrupt
ly on announcement OF tho rcslgua-
lion OF Lloyd George. but It's net loss
on the day was only about l y cents.
Heavy buying of Liberty 3As
which were carried 10 Sl03.O2, a
new high record, was the outstand-
ing feature in today's bond dealings.
The buying OF ass. an entirely
taX-CScmpt issue, apparently was on
the part OF large interests, At
$lO3.06 thoy were $3.50 above last
nights close burt they dropped later
TO sl02.
other United States government
issues were higher in early dealings
but showed irregular changes at the
close.
The sharpest break In foreign
bonds came in tho Prague n s
which sold Off ~ points.
In the rail group losses OF point
or more were quite common, among
the more prominent being Kansas
City Southern refunding 6's, Gem
trll Pacific Guaranteed As. Atchi-
son general as and adjustment As
stamped, and Katy" first As. The
few outstanding exceptions to the
downward trend were New York
Central debenture SIS and New or
leans, Texas and Mexico 5's.
Some OF the weak spots in the
domestic list We're Cuba Cane SIS,
Marland Oil 7ias, Wilson company
convertible 6's, American Water
works 6's and Hoffman machine SIS
Total sales, par value, were Sl7,-
100000.