The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-07
CONFUSING PRICE MOVEMENTS
IN STOCKS WITH UPWARD TREND

IA
movements featured by heavy Sreva'a-
zion IN oil shares marked ioday.S active
stock marii.; session. in which ;Hc u!i.'
mate trend was upward.
Opening Weakness undoubtedly was
due ~ disturbing "leruiSh; news rom
he Near East, which induced profit tax
ny and renewal Of short SclhaS' .I'e
general list turning quite heavy. l"e
market reversed !tseit. however. waeh
aullish demonstrations were S;2Scd N
4 number O. spccialt..S. bur teh "aSN
20 :a;u In response e. bear raids on M'\'-
ran Petroleum and Sc,,h"ard 'SSurS.
Standards Big Melon.
Declaration % u -" yer '"a' N''SN
dividend by IA" Standard Oh company
- New YORK was the signal =; ah"'n''
rally which .UlS accelerated ny 'us
publication Of unofficial estimates Indi-
,a+;nc an increase ~ between .5c.oho
% l.nn0. coo TONS in the untitled tonnage
-" the United states Steel corporation
WIEN the September figures are made
puhf:, neNt wck Tn. upward swing
WAS restrained >"mSwha, by u marking
~ - ~" ca! money rate.
Standard OF or New York. wal"h -
.raded IN On M curb market Jumped
~ points - 5a5 OF announcement ~
The stock dividend. added - more and
,hNu Sdlj Ircd back :" $40. standard '''
oC Ncw Jersey. which is traded IN on
Tho big board" sold OF I'VE points ~
the opening jumped up 10 and Yielded
four on profit taking f"r net gam ot
nro point Huston OIL also pr"nt'd
, rro-, tho heavy demand for oil shares
Following :ue Standard OIL division &C
ION. maxim: I net gam % -i% points.
Tidewatcr was pushed M -. and Texas
company -. while Sinclair improved
sractionalty on a turnover IN "Nr"SS NJ
~. 000 shares.
Pete" Under Fire.
Mexican Petroleum. Il SHc "ul1i:v"
favoritc. was the target Of heavy hear
attack reccd:nS more than four points,
and he Mexican Ssah"ard issues turned
heavy in consequence. but yielded only
fract!ouallv. Threats OF EttSat"n over
the new officers was blamed for tho
reaction n Pierce oil preferred. which
slipped back moro than three points.
TIC common offered more Resistance 70
pressure. showing only small trac-
;ioual loss.
steel shares became quite active IN the
afternoon. L. = Steel common climbing
close 20 los for u"c gain Of L: points:
Gulf States a,l,i;nS Two 20 its final quo
;atiou yesterday and moderate gains
being recorded by Bethlehem ana
la savanna. Equipments EISiuSG SliSHt-
". as did a number rC ;he standard rail
shares
.Specialties Favored.
Heavy trading n >pccialtieSr especial
y soma o. the nigh grade Investment
ISSUES. Was another seatur" New peak
prices were c<rabiiShd ny National Bis
crit. Fisher R"dy May Department
stores Wells Farc" Express. Dupont
Powder Corn Products and United
Fruit Tho net gains ranging a. high as
eight points.
Total salrs We" t.@6S.7no shares
Call money opened AMI renewed az
u, per cont. advanced "a s.. and thence
90 = where Il closed Tho ton" ~ the
,imc money rates waq slightly tirmer
with a better demand for funds at 80
ror four and ;iv" months maturity. A
fair volume 90 nov commercial paper is
coming into :hc market. the prime grade
being quoted at -. 10 4ts
Foreign c\chang" rates were trr"Cu-
lar Demand sterling and francs and
hre checks sold or at the start. but re-
covered mos: ~ their losses later. Ger
marks touched -. cents hundred. q
nov low. co;ncideut with tho publication
II the weekly ReiChhank statement
showing an Increase "f more than
-. "nn. O@O marks in circulation