The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-09-13
PROFESSIONAL SELLING PRESSURE
EEERTED AGAINST CHICAGO
AND GREAT WESTERN.
WEAKNESS c. THESE SHARES AC-
CCM2AH1D by r U NJ o z OF
Possible RECEIvERSHIT.
WRITE lsoToRS n E A H E NE"
K-GH MARK-TOBACCo PROD
UCTs SHOW STRENGTH.

New York. Sept. i:--Unusua,ly .rrHS-
Ilar price movements TOOK place II 20
days stock market.
Recent leaders yielded 20 p:na- teHiaS
and there was abundant evidence or
professional selling pressure IN o'AeE
quarters, particularly against CA!SaN" ~
G-ea; Western issues which 5r"Se
sharply around noon. Weakness IN
these shares accompanied rumors OF
possible rcce!ycrSh;p. which were
promptly denied ny President Samuel
NJ FELTON,. who declared The road was
able % nee, TIA obligations and was
handling the biggest traffic movement
In 'tS history.
TSc~e was A cairiy sustained demand
throughout ~" session tor equipment
shares. American Locomotive. Baldwin.
American Rrakcshoe and Railway Steel
Spring each hcinS pushed mp I" new
Nigh records the net gains ranging from
',-gc fractions 10 nearly three points.
Strength o. these stocks wax IN re-
sronsc % increased orders Cor equip
mcrt b. tho large railroad systems
Merge talk was held vSsptns'hie for
the further activity n producers and
retners. which crossed five and closed
q: n net gain nc nearly point. Rarnes-
dale \ stock shot UP nearly three points
on rcnortS that / was the likely par
,!c!Sdu; in tho producers new C"mhina-
ton Tho iatcs. earnings rcp"r; or
Mexican Petroleum. which Shnwed earn
iugs nt $3.50 a share or common stock
TO- the first seven months Of lH%%. a.
compared with $3.50 for the ,i:st SIX
months Of 1921. furnished the cue FOR
squeezing or ;hc recent short Interest.
the stock closing At 4 net gain or two
points
White Motors was pushed up To n
rev high on a renewal Of uucontirmed
reports Of is merger with Mack trucks
which recently had been quite active.
Hupp Motors also was rather active
but with relatively llttle net change in
price.
Unusual strength os Tobacco Products,
which closed \; 4 net gain OF five and
"De-h7ls points accompanied revived
reports - Es possible merger with
Schulz" Stores and speculative eXpecta-
ti"u o" a dividend before the end OF
The year. The rise Of more than four
points in iron products was predicted on
r!<her prices Tor the ptg iron product.
70 Rails shares were inclined 10 heavi-
ness. 81: IT,; changes We're largely
fractional Steel shares cascd 4 BIZ, as
did the sugars and cnppers.
Total sales were go Too shares.
Can money opened a. per cent and
hardened 70 AZ i'm the early afternoon.
hold:Dg a: tha: figure until the close.
Time money was quiet with no change
In rates and there was little demand
fer commercial paper. Dizziness IN the
Eu""neIn markets impaired \ heavy
tone :" foreign exchange rates IN the
local center. Comparatively little husi-
ness was transacted in commercial bslls.
German marks was SIN quoted below
seven cents hundred, tho reported
ult;matum OF Belgium demanding pay
n"at ot 100000 600 gold marks IN six
months having little visible effect. The
further drop IN the Greek rate was IN
terrr"ted as Indicating the abandonment
Of N" Greek governments efforts TO
maintain fixed rate Of SIS for the
dga"h@ra. Totady's rate was as