Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-11
JUGGLING PRICES
IN LOCAL MARKET
Both Brill and American Stores
Give Spectacular Aero
batic Performance

II has been many moons since the
local contingent has witnessed such
spectacular juggling of quotations as
encountered within the last two ses-
sions. 1t is not altogether an un-
healthy or bad sign. To the contrary,
It gives promise Of an awakening of a
long slumberlng speculative spirit.
American Stores, now dubbed the
philadelphia Mexican Pete" was once
| more the star. 1t. however, had
promising understudy in J. G. Brill.
Both shares gave fantastic and be-
wildering performance and had all
hands guessing. American Stores
started out In lively fashion TO retrieve
the loss of ground made yesterday.
making o further recovery to 40. or IL
points above the bottom figure made as
result of the raid Of tho !nnocents.
According to best advices. hte so so-cnlled
"sharpshooters" were largely rcspon-
stblc for the PERCEPTIONS break in the
stock yesterday from 1857 to 133 by
reason of their knowledge of the exist
encc OF the nest Of stop loss orders.
AZ least, 1t Is said by very excellent au-
thoritq, in the drive not n share Of stock
was taken or given by any Of tho. pea
gun shooters. 1t Is not tho first time
they havs thrown the monkey wrench
into the machinery and completely
spoiled promising broadening Of mar
ket operations.
Regardless of causes and manpuvcrs,
nfter reaching 40 the stock fell back
70 l45. rallied Il point to 146 only to
1all back again to 143, suggesting yes
terday's coup had dampcned the specu-
lative ardor to great extent.
In the meantime brill jumped into
the iimelight. soaring to - with as
tonishing alacrity. making net ad-
vance OF IL points in the two sessions
Inc price proved to be too lofty and
subsequent reaction carried 1t back to
~. The trading was quite active on
elther swing and an unusually large
amount of stock changed hands. The
greatly improved outlook for the COM
phhS operations supplied the motive
19r the movement. AS the stock is
closely held 1t did not require much
chort to Jack it up.
l.. IL. i. broke into high ground for
the movement. reaching 33. Annroyi.
inntcly 1900 shares changed hands dur.
Ing the session. indicating tho lotnst
coup of the Mitton management had
made good impression and strength
cn"d the market position.
In tn" general list trading was only
moderately active, with narrow price
movement. Pennsylvania Railroad, de.
spite the strength of the other rails.
was inclined to give ground. yielding TO
iO@s. which is $1.50 share under the
recent top price. Phiiadclphia Electric
IN making new top at 81, brought il
closer to the preferred, which continued
TO bring ~ 1s to 31H. L. G. I. failed
to respond to the semi official report
concerning the earnings for the first
nan OF the year. although it was frac
tionally better at 80. Union Traction
hrId at 40. The feature of the under.
lying T.. K. J.: issues was continued ab-
Sorption Of f. and =. IS by institu-
tions. Few offerings Of West Jcrscv
ana ScaShoro found ready market nt
~. 'uriously all the stock is going to
m" sam" source. They are not run
ming after It, but stand ready 10 tnkc
all in sight. Lake Superior remained
waterlosgcd at o..