Evening star., 1922-11-11
PRICES IN CONTROL
OF PROFESSIONALS
Weekly Review Shows Public
Almost Wholly Out of
Stock Market.
BY the Associated Press.


NEW YORK. November ll.-Pro-
fessional spectators were in COM
plete control Of this weeks stock
market, prices in which seesawed
up and down, with traders selling
stocks on the rallies and repurcha.
ing them on the reactions, awaiting
indications Of definite market trend.
Tho same irregularity prevailed in
the bond market, which was featured
by the weakness of the European
securities.
Resumption Of pool activities was
manifested in a number Of stocks
Merchandising shares received the
most attention, May Department
Raalte SILK all being pushed up to
new high records for the year during
the week, presumably on the reports
Of increased earnings and expecta-
tions Of unusually good holiday trade.
Typewriter company issues also be-
period OF dullness, Remington first
preferred and Underwood preferred
establishing new peak prices.
Mexican Pete's Activity Over.
Heavy conversion of Mexican Pc.
troleum stock for Pan American B
shares. In accordance with the re-
Gently announced plan. virtually re-
moved the former from its position
as one Of the markets most spec
Of Mexican Petroleum shares now
outstanding leads to the belief in
many quarters that it will soon dis
appear from the list.
Further Improvement was shown
during the week in the domestic busi-
nd frfa al cit
production is now back to 75 per cent
Of capacity. October pig iron pro-
duction was 25 per cent over that OF
the preceding month. the daily out
put reaching the highest average Of
any month since December, 1920.
This increase was regarded as highly
constructive because of the barome-
trio nature that pig iron production
has had in determining trade condi-
tions for months ahead.
Big Gain in Car Loadinxs.
Railroad car loadings for the last
week in October, the latest date for
which statistics are available. showed
an increase Of $4,000 cars over the
highest figures of the corresponding
week and in striking distance of the
record week for all time. the second
week in October. 1920. Likewise the
shortage of railroad cars is now the
81 TedteSL III HlstOTN. BltnOuEn the
equipment companies are making
every effort to achieve maximum pro-
duction in turning out the huge guam
titles Of cars ordered by the larger
railroads
Capital readjustment Of large oil
companies were continued on a large
scale during the week: but it failed to
aroused by the Standard Oil distribu-
tions few weeks ago. The sharp reac-
tfons which followed the first few an
nouncements apparently had a deter
rent effect on vigorous bullish demon
strations in the shares Of companies
dividends.
Spirited Advances in Cotton.
Spirited advances in cotton prices
being particularly exciting following
publication Of the governments re-
port. showing s,139.0oO bales ginned
to November /. December, January.
March and May contracts all got
above 26 cents a pound. the first
tance Of 27 cents. Argentine competi-
tion had depressing effect on wheat
prices. December and May contracts
holding around $1.15 bushel.
Another sharp break in French.
Belgian and Italian remittances, which
were Carried TO ne" low leSelS IOF tne
year. were attributed at first to the
failure Of the Berlin reparations con-
ference and to unfavorable develop
ments in the near east. but the
strength Of sterling and the subse-
quent recovery of the continental
rates suggested that Great Britain
was repeating its method of selling it's
French and other exchange to ac-
uuire dollar credits to meet another
intereA payment on it's war debt to
the United States this month.
Money rates were slightly firmer.
due to withdrawal Of funds by interior
banks.