Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-09-08
NEWS
NEW YORK
STOCKS.

S1ONfNS.
New. York, Sept. 8.-Nervousness ~ ~,
short interests causing them 10 ~
for stpcks> in competition WIN live
ment buyers and speculative ln.eies.s
on the long side caused a reinal 49,,
rise in many sections 81 TO-DAY 3 ~
list. Gains in III Of the specia,..eo
ranged from S to Is points ouu,
stantial progress also was naue ~
most of the standard shares: safes ap-
proximated 100000 shares.
Stocks were bid up in spirited tash-
ION during The morning, the rise eA-
tending over a broad list which pres
aged total sales of we'll over a mlihon
shares. Relatively easy money rates
and indications of improved business
conditions are reflected in the 'sma!iest
number OF weekly commercial lall-
ures to date also contributed to the
more cheerful sentiment. Oils, eulp-
ments and motor accessories shares
were particularly prominent, gains o,
2 to nearly 4 points being registered
by Standard Oil of N. j., Pullman,
Baldwin Railway steels spring, fisher
Body, International Harvester, Du-
pont, United Drug, Central Leather
preferred and Lorillard Tobacco.
Mexican Petroleum's gain OF nor
than 31-2 points accompanied re-
ports that the company was construct
ing two plans in Mexico for extracting
gasoline from natural gas. a mon
ey opened and renewed at 4 per cent.
Continued improvement in indus
trial and railroad strike situation was
reflected in the strong tone OF prices
at the opening of today's stock
market.
New high records for the year
were established in the first few min
utes of trading by American Wooden
Retail Stores, Pullman. Norfolk anc
Western, Dupont and Union Bag ant
Paper, the gains ranging from l tt
3 points. Equipment stocks were IL
fairly good demand, advances of ap
by Baldwin and Lima Locomotives
Under the stimulus of resumed divi
dend payments Stromberg Carbureto
was pushed up more than a point ant
a half. Mexican oils recovered from
their recent heaviness, Mexican Pc
troleum mounting a point in the frs
few sales. Advances in rail share
were largely fractional, the leader
being Atlantic Coast Line. Rocl
Island and New York Central. Sub
stantial improvement was noted il
International Paper, Houston Oil
General Ashphalt, American Metal
and Consolidated Gas.
Indications that the bear position
had become untenable provided tn,
stimulus for a further rise in specia
stocks in the final hour. Shipping
and low priced rails, which had bee
laggard in early dealings. were push
ed up with the rest of the list. A fey
of the strong spots were Tobacco
products, preferred, Dupont, Postur
Cereal and Delaware and Hudson, a
at gains of 3 to IL points. Republi
Steel was heavy, falling back tw
points, the closing was strong.
SUGAR.
New York. Sept. THE early "a,
sugar market was nominal in the alb
enc OF business, spot sugar was sal,
to be available at $5.& for centrifu
gal. without finding buyers.
There was another sharp decline i,
raw sugar futures under renewe,
selling by Wall Street and commits
sion houses, owing to the CONTINUES
lack of demand for refined suaa,
Prices at midday were about ii i
13 points net lower. :
The market for refined shared /
the weakness of raws and prices wer
educe rs points by all local rein
ers to the basis of $3.50 for fin
>granulated. There was no improve
ment in the demand. Refined future
nominal.
Sugar futures closed easy; approx
innate sales $500 tons. October So
-; Dec. $3.35; March 1912: Ma
1924. ~