Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1922-05-19
Days Review of
the New York
Stock Market
rsenubIIcan A. p. Leased Wlrel

, NEW YORK, May 1S-Trading IN
me stock market today again con-
centrated largely in coppers ana
steeIs with a liberal sprinkling OF
oils and the many unclassified spe-
ciaIties recently brought forward,
evidently under professional auspices,
sales aggregating 1,3S5,000 shares.
Relaxed money rates were an I'M
doubted factor in the days opera
tions. Call loans were openly quoted
throughout the session at 312 per
cent. but that figure was shaded IN
private offerings and much of the 80
to 90 day money was secured at
per cent.
The demand for metals and kindred
stocks resulted in extreme advances
of 1 to 21a points with Anaconda,
Chino. Chilean. Utah, CRANKY, Shat
tuck-Arizona. American common and
preferred, Butte and Superior. Amer
jean Smelling and National Lead
were the most conspicuous features.
aAmong the steels, the movement
was uncertain. Midvale easing two
points on denial of the reported mer-
ger with Bethlehem. The latter was
sluggish, with Crucible, Lackawanna,
and United States Steels, but Repub-
Colorado Fuel rose IL to 21a points
of their best and shares were strong
est of the oils until the later dealings
when Mexican Petroleum gave way
to selling pressure while Cosden,
Producers and Refiners and several
of the less prominent domestic is
sues made substantial gains.
Only a nominal business was re-
ported in foreign exchanges but the
feature of that market was another
rise in sterling bills to the level
equalling their recent maximum of
the last three years. Practically the
entire continental list was lower,
however, Italian bills showing most
CHICAGO BOARD
CHICAGO, May IS - Material
downturns in the value of wheat took
place today, largely as result OF
reported increase of consignment
notices from the country.
The market closed unsettled at q
TO 4 cents net decline,&,with May
s.141% to s1.42 ana july s1.26k to
s1.26ss. Corn finished Il to 81 lower;
oats u to lis off, and provisions
varying from unchanged figures to
7cents advance.
Weakness in the price of the May
delivery of wheat became apparent
soon after the opening. and developed
at a rapid rate during the last half
hour of the board of trade sessions.
The leading seller was a Spectator
who is on the bear side of the mar
ket In addition TO prospective larger
arrivals of wheat here. the prevail
ing cool wet weather, regarded as
likely TO improve the condition of the
winter crop and Of the spring crop
as well, did a good deal to inspire.
bearish sentiment. Besides foreign
demand was slow despite reports that
France was after new crop wheat.
Renewal of an estimate that 66.000.-
600 bushels still remained available
for export from Argentina counted
also as depressing factor.
Todays liberal receipts Of wheat
here and at other points helped to
discount talk OF any Ilnme date scare
iy. Chicago receipts totalled 15S
carloads. Deliveries on May con-
tracts here were $4,000 bushels.
Corn and oats sagged with wheat
Notwithstanding that rains tended to
delay the completion of corn plant
ing. Higher quotations on hogs gave
firnness to the provision market.