Norwich bulletin., 1922-10-07
lIARKEr WAS UNsErrKED

New York. Oct 6. = Confusing price movements, featured by heavy specuia tion in oil shares marked today activ' , stock market session which the ultimat, trend was upward.
 Opering weakness undoubtedly was due to disturbing overnight news from the near east, which induced prodt-tak- ing and renewal of short selling, the gen. eral list turning quite heavy. The mar ket reversed itself. however, when bull ish demonstrations were staged in a num- Der of specialties, but fell back again in response to bear raid on Mexican Petro- leum and Seaboard issues.
 Declaration of 200 per cent stock dividend by the Standard oil company of New York was the signal for another ral- ly, which was accelerated by the publi- cation of unofficial estimates indicating an increase of between 750,000 and 1,000,- 900 tons in the thrilled tonnage of the United States Steel corporation when the September figures are made public next week. The upward swing was restrained somewhat by marking up of the call moey rate.
 Standard on of New York, which is traded in on the curb market. jumped 20 points to 596 on announcement of the stock dividend and then added 4S more by touching 644 and slipped back to 6S4 at the close. Standard Oil of New ter sey, which is traded in on the Ffbig board" !" sold off points at the opening, jumped up 10 and yielded 4 on profit-taking, for a net gain of 1 point. Houston Oil also profted from the heavy demand for oil shares following the Standard Oil divi- dend action, making a net gain of 4% points. Tidewater was pushed up 4 1a and Texas company IS, while Sinclair improved fractionally on a turnover in excess of 70 900 shares
 Mexican Petroleum, speculative fa- vorite, was the target of a heavy bear attack .receding more than four points, and the Mexican Seaboard issues turned heavy in consequences but yielded only fractionally. Threats of litigation over the new officers was blamed for the reaction in Pierce Oil preferred, which slipped back more than 3 points. The common offered more resistance to pres sure, showing only a smal fractional loss
 Steel shares became quite active in the afternoon, U. S. Steel common climbing close to 106 for net gain of E points Gulf States adding 2 to it's final quota tion yesterday and moderate gains being recorded by Bethlehem B. and sLacka. wanna, Equipments yielded slightly, al did a number of the standard rail shares
 Heavy trading in specialties, especially some of the high grade investment is lbuSo, was duOtuST f1ed+tuE6. lN6W peal prices were established by National Bis cult, Fisher Body May Departmen Stores, Wells Fargo Express. Dupon Powder, Corn Products and United Fruit The net gains ranging as high as points
 Total sales were; 1,266,700 shares.
 Call money opened, and renewed 8 A per cent, advaHced to 411s and thenc. to 5, where it closed. The tone of tim money rates was slightly frmer with better demand for funds at A for fou and five months maturity. fair yolum of new commercial paper is coming int, the market, the prime grade being quoted at A to 415.4tlf
 Foreign exchange rates were irregular Demand sterling and franc and lire check of their losses later. German mark sold off at the start, but recovered mos touched 415 cents a hundred, new low coincident with the publicatio of tn weekly Reichsbank statement showing al increase of more than 25,000, 900, ,O0 marks in circulation. ., t'--f