, 1922-11-22
STOCK TREND
IS UNCERTAIN
Some Issues Show Improve
ment as Bears Attack
Other Stocks.

NEW YORK. Nov. 17.-Professlon.
al short interests renewed their at
tack On h general list in today's
market. forcing some extensive Haul
dalton Of long stock and depressing
prices ! TO 5 points. a relatively high
ruling rate for call money, absence
OF public participation and failure Of
Buiiish interests to respond 70 the
declaration Of additional stock and
INCREASED dividends al stimulated
speculative operations for tho decline
Sales approIimated sT5.ooo shares.
NEW YORK. Nov. s7-Ppfesslonai
selling pressure was directed at the
opening OF today's stock market
against some Of the independent
steeis. chemicals and minor oils.
giving It a reactionary appearance.
Considerable Improvement was noted.
however. IN the southwestern railroad
shares and n few apecia4ties which
were the object OF pool operations.
An'ed chemical broke nearly three.
points and Davis Chemical y. while
Crucible and Vnnadium steels each
dropped a point and Gulf States Steel
and Iron Products yielded fraction
ally. Barnsdall IA reacted one point
and minor recessions took place in
MARYLAND on. Standard OIL OF Cali.
forniA and Royal Dutch. Other weak
spots were studebaker. American Ex.
press. woolworth and American Can
all off q point or more ST. Louis
Southwestern preferred moved up Ia
Missouri Pacific preferred IL. 500"
/. American bank notes Jumped az
points TO a new high record and Pub
Ito Service OF New Jersey gained u
on overnight announcement OF n
higher dividend and then reacted III
on profit taking. Foreign exchanges
were easy.
Most stocks received relatively little
support during the morning. Trading
was In exceedingly small volume but
prices. nevertheless. kept slipping off
steadily. with the selling covering a
wide range OF shares. Dividend pay
ing railroad issus were about the
only exceptions TO the generally re-
dictionary trerd. Low priced rnIls
were liquidated freely with Baltimore
and Ohio, Missouri, n and Texas
preferred and Frisco preferred the
weakest, the last named falling over
q points. Special heaviness was dis
played by the food. public utility.
merchandising and Pan-American OIL
shares. the losses running from one
to- nearly Ave points. Special buying
occurred in Cerro De Pasco. Electric
Storage Battery. White Eagle OIL.
New York Air Brake IA" United
Drug and United States Alcohol the
gains ranging from 1 to III points.
call money opened at 8 per cent.
Tho persistence OF the quiet liduida-
ton which ultimately affected all
classes of stocks undermined the con-
idence of the bulls and offerings In
creased when ii became plain that
short sellers were having things
pretty much their own way. High
priced railroads gave way to the eX-
tent Of 1 to 2 points while Baltimore
and Ohio lost 8 and st. Louis n
San Francisco preferred 5k. The St
Louis Southwestern shares showed
exceptional strength. the preferred
rising 4 points. Losses of two points
or more were quite numerous among
the industrials and specialties. with
woolworth losing six points n
Mexican Petroleum and Standard OIL
of New Jersey 1 each.
The closing was heavy.
Encouraged by their earlier success.
bear interests redoubled their efforts
in the late afternoon dealings, forcing
material recessions In all parts of the
list. Sporadic short covering caused
slight rallies in some shares but clos
ing prices generally were near the
low levels of the day.