The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-04-24
STREE -L-ACkS
Usual MONDAY
EXCITEMENT
nv Consolidated Press.)

y
wall street, New York, April "a.
sgar street did not have quite the
.ve3ted sMonday morning opening
.sh,ch is the traditional character
sstse Of big bull market" Jumps
= mint or more were made in
.,,her of Individual stocks. Then
10 market was called upon to take
20 heavy realizing when usually
saveiops after a powerful over
s,nday bid for outside support.
Tbs selling represented PROM TAX
no by pools and professional in
sssests and this brought about
airy general reaction. The main
sect. however, was felt rather in
! he slowing down of trading than
q the price shrinkage.
More than at any time SO far,
3 the markets took the news from
Genoa not that it could definitely
assure accomplishment of the eco
ronic conference, but that it made
he outlook brighter than it had
been heretofore. The willingness
~ both Germany and Russia to
make concessions, the overcoming
At French obstruction-all this en-
nbasized the geniuineness of the de-
sire On all hands that the gathering
achieve success. Where financial
opjnion showed most plainly was
naturally in the international ex-
changes. Both sterling and CONT
mental rates went higher, sterling
coming closer to its high of the
af cd he
FIRST week of March. The feature
Of the exchanges, however, was the
continued sharp recovery in Ger
man marks.
s II was three weeks ago that the
mark touched it's record low CT
.29k. AS late as Thursday last it
was quoted at .33A. The rise from
this figure across Il represents one
Of the best rebounds which has oc-
CURED this year. 1t certainly has
not come as the result OF the stop
mage of paper note issue. In fact,
it has occurred in face of further
huge expansion, bringing paper
currency up to much the largest
total yet reached. This expansion
has been necessary to meet the
separations program which calls
for monthly payments of 100000
gold marks and was effective on
April Is. There are two explana-
tons, both of which undoubtedly
count. The first is that Germany
has taken means through it's forced
+ loan of billion marks and in 9TH
! er ways, to greatly increase the
government receipts. The second
is that it looks to the Genoa con-
! ference to pave the way for flnan-
cial help from abroad.
3 By midday the selling movement
on the stock exchange slackened
and operations for the rise were
resumed not in the general list but
sues The three outstanding
groups were the shipping shares,
, the coal stocks and the rabbers and
tires. In each instance the mo-
tive for the rise has for some time
been apparent.
IL The Ocean Transport company,
at the present high rates and rec
2 ord travel, stand to make up in
: their passenger traffic the losses in
their freight traffic. The coal
{ stocks listed on the stock exchange
i reported that companies whihc en-
ploy exclusively or almost exclu-
siyely non-union labor, are doing a
greatly improved business. With
the rubber and tire stocks, most Of
which made new highs for the sea-
son in the afternoon, the advance
81 in tire prices expected on the first
Of the month is what the upward
movement is discounting.