The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-03
.GARYs TESTIMONY BOOSTS
Us, STEEL To HIGH FIGURE

Nsw York June 2-TradiuS on fhe
stock exchange today was characterized
hy extensive and comprehensive deaf
ings mainly At higher prices. but inter-
est IA the market !tSelf was "Hcrshau-
owed by interest from the develop
rnCntS In the domestic and fore'sh
money markets
calf loans opened at Ave per cent
the highest initial figure In three months
relaxing when all early demands hau
<eeen met to +1s per cent Time money
hardened fractionally and accommooa'
tons again were limited to short ia
turtles
British exchange continued 20 feature
International currencies. demand p'''@
en- London rising 10 +AI&. an o'e',
night advance OF two cents 10 fhe pou"u
and the highest quotation In three yea D.
Other European exchanges showed p'''s
slightly in the strength or SteFI'"h
allied bills gaining an average OF aoou'
tvyn poIntS, with n reaction In the GER
r,an rate Ecutrals. especially tne
Dutch rate. rallied from Yesterday se'
hack although private cables reip'''"
additional Withdrawals OF German Hn'"-
ciaI reserves from those countries
No sssol Enthusiasm 49,;
Announcements Of the Republic u''
yaIC-Inland steel merger eEoNeu ny
enthusiasm for independent stee'S' Nli
s,In being under constant pressure
E-,,,,i,,o ,,as stcsd;lv bought however.
and l.. $ Steel scored 4 ne" h'sn '"'
two wears 4, Toe shortly after 'hair-
NAN Carv'S statement before a leSiSia-
i've COMMITTEES that the corporation
surpIus probably amounted 10 |tV"'VV"'-
p0O.
oils as group dominated the mar
kct's speculative side. the latter ueH'-
arg being accompanied bS extreme gains
Of two 10 eight points IN California
Petroleum Pacific oil. Freeport-l eNSS
and several lower priced issues
Debentures advanced 10 new NIX"
for he wear and other motors and th"i
s,,hsiIi,ri.s rose one 10 TWO points. To-
boccn and food specialtiss eased one 10
three points proRt-taking being most
nrononrced in Coca Cola, Sumatra 20
h,rcn and several Of the chemicals ana
fertilizers. Miscellaneous issues weH
reported by Columbus Graphaphohe pre-
fcrrcG which reacted. and Dupont. the
lottnr making the greater part OF ilS
ret gain Of ~ points just oetore 'he
close Rails continued I" IaG' aN'N''!
I'm that division being confined 10 junior
issues, Peoria and Eastern being thH
most conspicuous example AZ :! sam "
Az points. Safes amounted 10 l.ooV.-
Uncertainty In Bonds.
Trading IN bonds today WAS m'Nea
and uncertain throughout the SESSION.
hut the investment situation retained
an Of It's recent strength. IS evidenced
hv to speedy sale % the Reruhic ot
Bolivia s24.0olO0n loan and several
other new undertakings.
Liberty bonds were active. hNt rea'-
iziuc sales In that division detrac'ed
from their strength. all but two az tina
crtirc series closing unchanged or n
slight reactions.
British loans failed TO reject me
further strength OF sterling exchange
and French offerings were relativel?
dull Mexican government IS lost one
point. while the SIS were firm 10 strong
with Havana Electric IS Brazil Ef
Denmark S.. NNetherland 6's. and Jap
apese -.
The strongest feature among domeS-
TIC bonds was Peoria & Eastern incomes
cs. which rose 3le points 10 the accom-
panIment Of the higher price quoted Tor
the common stock Chesapeake & Ohi"
an@, New Haven gas. Penra. rs and
St. Louis & San Francisco incomes. Also
were h:=her. hut most underlying rails
and inGuSyriais were irregular. Total
sales (par ya,Ucr aggregated SlS,S70.-
400