Norwich bulletin., 1922-10-05
FINANCIAL AND COMMERClA.
1AnKEr WAS ACTIVE

New York, Oct. 4.--Stock prices were bid up in spirited fashion in the early part of today's stock market session but heavy realizing sales at the close re- suited in a material reduction in most of the gains.
 Apart from the speculative belief that the recent reaction was an adjustment of weakened technical position and had about run It's course, the buying move rnent was influenced by the announced in tention of the directors of the Standard Oll company of California to declare a 100 par cent. dividend, easier money rates and tho improved situation in the near east.
 Standard oil shares again were the dominant features Forty thousand shares of Standard of California changed hands in the first hour. the price being pushed up to 134%, a gain of 6% points ,ve- last nights final vote and 15K above hat of Monday, but it yielded to 1924 at the close today on proat-taking. Standard of New Jersey touched 2loias s.w high and 0i& point abave ycster- lays final quotation, but 1t fell back ma .erially later. as did Mexican and Cali ,ornla Petroleum, and Houston and la sific Oils. which were up to 5points lt their high prices. Associated oil yielded less sharply. showing net gain of points Mexican Seaboard issues were reactlonary under tne depressing in- auence of further dccreaRes iif production h the Toteco field.
 Pool operations were manifest in a number of special stocks. National Bis ,uit. which jumped 10K points yester- fay. was pushed up another 12 points today. but lost all but SA of its gain before the close. Buying of. this stock was based on unconfirmed reports of a splitting up of the present shares and a approximately larger dividend on the new stock. Coco Cola also rose in re- sponse to Fumors of extra dividend dis 5ursements. registering a net gain of 3ss points.
 Kresge was pushed up to a new high on the announcement that the company will call for redemption on January 1 next all it's outstanding seven per cent notes. which originally amounted to s3,- 900, 900. Other strong specialties includ- ed Corn Products, up four; Dupont, IF ~ International Harvester, up B. Kel- sey Wheel. up May Department Stores up 3ls and Sears Roebuck, up 2M.
 Delaware. Lackawanna and Western which has been bought heavily of late on reports of stock or extra dividend distribution, was pushed up to a new higt at i43 today, but fell back for net loss A at the close. Trading in other rails was light
 Steel shares were sluggish during mos of the day although Republic, Crucible and Gulf States became quite active iI he final hour and registered moderat, gains. Shippings were in better demand Marine preferred being pushed up ove points and American International cor porstion 1.
 Total sales approximated 1.2oO,OO shares.
 There was a further easing>of the cal money rate, which opened and renewe at 4ls and softened to 4 just before tn close. The time money and commercial paper markets were quiet.
 The feature of the foreign exchang market was the drop of German marks t the new low rate of and 11-16 cent a hundred. Other exchanges were firm demand sterling climbing to S4.4I3s, net gain of 2ls, with slight improvement In the continental rates. Canadian dol lars were still selling at a slgiht prem um.