The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-06-02
SPECULATIVES
RULE STOCKS
,0vsstment or Standard
Issues Hesitant and
Somewhat Heavy

xrU YORK, June 1.-Speeula-
No.. Issues. notably those under pool
.r,ro, were the conspicuous fea-
.'s.. Of today's stock market. Many
s.,es NJ that character scored SUBJ
,.a,,oi gain. in contrast to invest
~.n, or standard issues. most of
's,ch were hesitant and occasion
VIII W., hoavv. sales amounted to 1.25O,-
aa,g shntes. Erratic or conflicting
vvVv.on,ents WV among rails. resulting
NV, the recent decisions of the U.
W." s"oreme court in the Reading and
s.Stbern Pacific cases were re-
s,.,d sVnd Transportations as a group.
snlsyer. contributed little to the
SSsyE broad dealings.
u'i ipTosnectlve higher prices for
..nds products placed .he oils in the
s,rsSront OF the days operations.
w,ry OF that division, especially
s,"ndard oil OF New Jersey. Mexican
"a pan-Amerlcan Petroleum. Pro-
Sncers and Refiners. Houston. Sim
Talr and Standard oil of California,
,nads extreme gains of / to almost
4 nolnts These being materially
shaded later.
s''IS 'FISouipments, especially Baldwin
rncono,iye. General Electric and
Lmsrican Car were firm to strong
ana International Harvester. Stude-
bster and various chemical. fertil-
,ger and food specialties continued
m improve. the latter again includ-
ing coca Cola food products and
Postum cereal common and pre-
ierred. ~
IN Tor more than casual considera-
lion, by reason of the strength OF
Rrush exchange. Bankers and
,raErs we're of the opinion that
,be years provisional moratorium
granted to Germany would have the
eftec. Of stimulating this country's
foreign trade.
Aside from the probable further
rise in oil schedules, prices Of raw
and refined sugars again moved up
ward with metals, Improvement in
Industrial conditions was empha-
sized by the greater activity reported
Al automobile manufacturing CEN
tiers and increased earnings Of mail
order companies bespoke easier
money IN western farming sections.
In the local market, smaller sup
plies OF money, incidental to the new
months interest and dividend pay
ments ocCasioned increased firm
ness OF demand and time rates. Cal
loans opened at IA per cent, ad.
yanced to per cent soon after and
rose 20 5la per cent in the finai
dealings.
Time funds were scarcer and linn
tied almost entirely to 80 and CO..
day offerings. The London exchange
rate eased at the outset, but heavy
buying of bills forced that remit.
tance to highest levels in three year,
as the day progressed. Demand bill.
were quoted at AS IA in the fina
hour and as high as f.45 ga after
the close of the market.
Trading in the bond market to-
day was broad, but without appre
cable increase of business and litti,
change from recen. uncertain pric,
tendencies, low grade rails. for eX
ample, showing increased heaviness
Liberties closed for the most par
at recessions from yesterdays maxi
mum transactions, selling being at
tributed TO profit taking and shor
! offerings prompted by .he progres
OF bonus legislation. Two 1000, 00I
share lots OF Liberty Seconds IA
sold at 1895 andd 99.9S.
Gains and losses In the domesti
rails, industrials and utilities wer
confusing but reaction predominate,
IN the final hour when bond price
loil0wed the lower trend of stocks.
To!al sales par value aggregate,
Ni,73SOOO.
Among the days new offering
were an issue of sl2.500,000 of Ten
nessee Electric Power Co.. $4,000. 90
Of Cincinnati Gas & Electric Co. an
nVV0'OOO OF Sutter Basin compan
'Vahfornia land mortgages).