Evening star., 1922-12-30
YEAR 1922 Marks NEW
EPOCH IN CURB MARKET
Palatial Building Ends Outdoor Trad
ing-Seueral Issues in Startling MoOes.
Famed as Home of Standard Oils.

action has been taken TO provide a
larger working capital SO that these
companies and corporations may be
able to provide necessary facilities to
industries. Consequently new stock
has been issued to shareholders in
the form OF stock dividends. In pro-
portion TO the number Of shares held
by the investor.
1t has been rumored In financial cir
clos that IN view Of revised taxation
methods pertaining to corporation
cash surpluses several Of these stock
dividends have been declared in or
der to avoid any such action. How
ever. II these corporations and COM
panies can maintain their present
dividend rate on the additional stock
allotment, then their action in MAX
ing these large distributions will be
justified
Price Changes OF the Year.
Price fluctuations this year have
been wide. with speculative and in
vestment opportunities abounding in
all sections Of the curb market. Dur
ing the first few months Of 1922 the
automobile industry suffered rather
severe depression. and price cuts
throughout this section Of the indus
trial list brought about materially
lower Levels.
On tho other hand. the increased
oy az companies has increased
monthly to meet the enormous de-
mands OF the general public. and has
resulted in a steady upward move
E,ent IN motor stocks until most of
this class are at their high levels as
the year ends.
Automobile manufacturers in 1922
have enjoyed the biggest business in
the history Of the industry. with the
prospects even better for business IN
the coming year.
High and Low Marks.
The month in which the high and
low prices OF several of the more
prominent and active leaders Of the
motor group were recorded Is given
below: Durant common touched it's
low Tor the year In tho mon tn OF JIM
uary. when it sold at :2ss: the high
prices were reached just before the
END OF December. when I. sold above
al. Durant OF Indiana likewise
reached its low reco:d in the first
month OF the year. when It sold At
Stas S;a and moved sympatheticaily with
higher prices in Durant common.
crossing in the latter half Of De-
cenber. Slut. Motor. however. was
an exception to the general tendency,
but for reasons that were not gov
elneo ny the Motor Industry, Contt-
mental Motors made its low price of
% IN the month OF February and the
close OF the year saw this tss,:e sell
ing at Its top quotation above u.
Automobile wheel manufacturers
shares and automobile accessories
moved alphabetically with the gen
era! trend Of prices in automobile
shares and were actively traded In
throughou: the greater part Of the
year.
The chain store companies and de-
partrneHt stores had big year in
l922 and many new issues of this
character have reached the Investing
oh puohie through listing on the curb
stocks. for the most part. either at
or slightly under their highest levels.
Mining shares. such as copper,
zinc and lead. reached their highest
levels generally around the riddle OF
the year. after which the market for
those shares suffered rather severe
depression AZ the result Of the small
prof. margin. Indications point to-
ward active trading IN the near eu-
tu-e in this group.
Depressfop I'm Oils.
Oh shares. although actively traded
in throughout the greater part Of the
y eS1' Aiet VAN l.G1y happenings tnae
were responsible fo- depression. The
high prices generally were reached in
the months OF May and June. Salt
water intrusion in many Of the Mex
lean wells brought about severe de-
clines in the shares of Mexican oil
companies and was responsible for
curtailment of output by American
companies IN Mexico with the hope
OF conserving the future supply that
these companies would be called
upon to furnish American industries.
The petroleum production of Mexico
in the month Of September fell almost
100000 barrels below that for the
month of June. which was considered
the best production month OF the
year. In addition to this, the most
notew orthy incident il the petroleum
industry was the continued decline in
the prices Of gasoline.
However. with the steady improve
ment in business conditions generally,
along with the increasing output in
the automobile industry as the year
progressed, the demand for petroleum
products gradually began to assert
itself. In the meantime oil conf
panies increased their storage facil-
tiles and are holding their crude in
the hope OF higher prices.
Copyright, 1o2c)