The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-17

New York. June l6.-Recent acute I'm
settlement; in tho stock market made
further progress today. prices OF many
speculative issues again breaking
sharply after an early period In when
the list was disposed TO mako up some
cc IT'S lost ground.
Liquidation differed from that % yes
terday and the early period OF the week
in that X was directed more generaIIy
AGAINST the low priced rails. major
nv OF the food specialttes. minor mo-
tbrs and Sevcca; "c the mall order ana
cham store issues.
TEXAS 4 Pacific was the main target.
falling almost ! points on string OF
offerings which Included drop OF |
point between sales. st. Louis SPuth-
western preferred Wheeling & Lake
Erie preferred Lake Erie X Western.
Rock Island. Per Marquette. Atlantic
coast Line and several Of the rrom'n-
ent tranSCont!ucntalS were lower by one
TO 2ia points.
Elsewhere the reversal. which was at
It's height At midday. effect gross de-
clineS OF / to points chemicals. secon-
dairy equipments. copper. textiles ana
tobacco~ easy as stop loss orders were
uncovered.
Almost the one constructive stock or
the DAY was Mexican Petroleum. which
made a net gain OF 81. points 10 tho
high record Of 1917. the greater part
Of It's rise being accomplished In the
last hoIr The buOHancy OF this STOCK
went far 70 restore confidence In tho
general list; losses in a number OF in
stances being materially reduced AZ tne
lose Sales amounted 70 l.9'o'VVo
shares.
Continued case OF cali money was a
negative influence being based mainly
on the light inquiry The opening rate
Of a. percent was shaded 70 percent
~. the carly afternoon. but no relaxation
was shown in time funds. such accom-
mNdatious holding firm in expectation
nr another expansion OF clearing house
loans.
Foreisn exchanges without exception
reflected more clearly the unsettled
state 81 economic conditions abroad.
sterling zen ~ cents. allied remit
tarces iost to 10 points. neutrals were
lower by TO 10 points and the AUS
TRAN rate developed further weakness
m cables which offered little hope cc an
early loan TO that country.
Bonds show Strength
In the face OF further re2ctI"narN
tendencies in the stock list. today's bond
market more than held it's ground. al
though some OF the underlying rails
were under pressure az extreme losses
nc one 20 -FOUR points
liberties we're TN" S.abit;ZirC feature.
the first ~ ) scoring new top AZ
lQnIO while several others OF that
series duplicated recent yuaHtmums.. Al
together. nine Of the liberty group at
tanned to par or better. with n steady
demand for the 31's and second. third
ami fourth +A's.
United Kingdoms were batter. regard
less ~ the break IN storing and Mexican
allied briSkIy from their early hear!-
hess. tho fcurs gaining points. the
Gvcs S'- points and the large hvea
I'a poi0ts.
PROF; taking probably conducted 20
the reversal in Peoria and Eastern in
comes and 81 Paul convertibleS. New
Haven SKIES. Seahoard adjustments. Mer
rartilN Marine SKIES. Consolidated Gas
sOven~ and Rrooklvn Rapid Transit
wc"e substantially lower. Total sales
,par ya,usp aggregated &l5.+3i.0o0.
Treasury officials at Washington re-
ported \ large subscription 10 the
latest flooring OF certificates. amount
Ing TO $3.50. 900 900. Among the other
undcryvritinzs which found ready mar
Le, were the SeS0o.000 five percent
municipal Improvement and s55h.ooo Ave
pArcent school bonds issued by the pub
IL service commission OF san Juan.
Porto Rico.