East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-04-21
DAILY MARKET NEWS, LOCAL AND GENERAL
Including PendletOu Prices and Associated Press Reports
Decided Activity
Shown On Market

DetidCd Activity
Shown On Market
NEW YORK. April s1.-tA. PD-
Bonds followed the uneven course of
the stock market yesterday. but deal
lngs were large and comprehensive.
The liberty series rose and fell with
ing narrow bounds. closing for the
most part at gains
lnternationais were irregular, Mexi-
cans strengthening with several Of the
Europeans.
Changes among domestic rails were
confusing, but higher in the main.
especially for the convertible, income
and refunding issues of western.
southwestern and coal roads. Streng-
III was shown by industrials and utili-
ties, the features Of those groups in
Guiding Armour and American Tele-
phone.
New underwritings OF the day. all
Of which found ready sale, included
sSO,o00,OO0 Sinclair Crude Oil 1-2
Per cent notes, $4,000. 900 Paris-Lv-
ons-Mediterranean bonds, $685.. 900
chesapeake 4 Ohio trust certificates
and the S0.0O0.O0O guilders offering of
the Holland-American line. Prospec-
1--WE offerings include another Dutch
East Indies flotation.
The days sales, par value, aggregat-
ed s22,147,OO0.
BUSINESS on the stock exchange be-
gan with many indications that the
session would establish a record in
activity and breadth for three years.
Out operations slackened visibly dur
ing the intermediate and final periods
Aside from United States steel.
which rose to 100 is, its highest quo
tation in exactly two years. and the
new maximum made bys other lenders
OF the industrial and railway divisions
the session developed no spectacular
features.
Extreme gains of one to three points
We're scored by "A number of shares
put these suffered partial or entire
cancellation as the day progressed and
me desire to take profits became more
insistent.
No restrictions to the markets up-
ward course were interposed by none
tary conditions. Further ease was
evineed by local money rates and in
ternational currencies seemed in no |
serious degree disturbed by latest as
poets of the Genoa conference. in
cinding RussL's refusal to pay her
war obligations.
The firmness Of the coal shares was
cited as evidence that the coal strike |
Is becoming less of market influ-
ehce. This was supplemented by ad-
wees from centers of steel and iron
production, mostly of an encouraging
tenor.
Among the relatively few substantial |
net gains were American Locomotive.
crucible Steel, Sears Roebuck. Mont |
somery- Ward, Computing Tabulating.
western Pacific preferred and Market |
street railway prior preferred. Unit |
Pastates steel closed at a small loss
ana most of the oils were affected by
heavy selling of Texas company and
Mexican petroleum.
Total, sales amounted to 1.435. 600 |
shares. /
For the third successive day, all call |
loans We're placed at 1-2 per cent. |
Time funds We're plentiful and private |
loans on approved collateral were
made for the shorter dates at IL
per cent, that same rate applying to
good names" on commercial paper.
sterling's reaction to the foreign Sit
aation was decline of S-S of a cent.
allied bills casing to points. Dutch
md scandinavian ratee were firm to
'lrong and central European quota
ions were not materially changed.