The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-14
STOCKS CONTINUE
UPWARD ADVANCE
Concentrated Buying in
Specials Results in
Markets Rise


Iatcd buying ot special stocks and
a broadening demand for standard
railroad. rubber and sugar shares
enabled stock prices to continue
.hcir upward movement today de-
-nite a violent setback In Standard
Dl Of New Jersey. which registered
net decline OF nearly 10 points.
speculative disappointment over
tns announcement OF the di-
rcctors OF the Standard OIL OF New
Jersey that no increased dividends
were contemplated on the new stock
when the 400 per cent stock dlvi-
lend becomes effective. resulted in
a. flood OF selling orders. which car
red the stock down 90 PIG as aga inst
'hc years high OF 25O half. eetab-
Ushed earlier in the week. A slight
recovery was made later. Other do
nestle oils reacted in sympathy, but
Mexican Pet and Pan-American is
sues were carried TO new highs I'm
expectation OF extra dividend dis
nursements
southern Railway preferred stock.
which had been suspended for a
year and half. was indicative OF
Inc improved business situation In
he cotton belt. That stock gained
Two points while advances OF point
o more were registered by Reading
New York Central, Lackawanna and
Northern Pacific. Eontral of New
Jersey gained AZ on small turn
ovor United states Rubber was
pushed up Z points and gains of
10 nearly 90 were registered hy
Goodrich. kelly-SpriuEflold and
IL gh 81
American Cuban Cane preferred and
Manataille climbing over point.
Equipment shares continued to
mount az orders increased. American
locomotive established "A new high
az 1857 and closed at net gain
nj 3 points while Baldwin improved
nearly a point. The rise of moro than
five points in American Can was
attributed to trade Improvement ana
unconfirmed reports that the stock
would soon be placed on a dividend
basis. Continental Can improved in
sympathy gaining nearly four
points.
Announcement OF higher prices
Tor news print In Canada proved n
hulllsh card for international Paper.
which advanced nearly point. Con-
per shares yielded slightly on re-
ports that q leSsoning of the domcs-
tic demand had resulted in the metal
being quoted at 1873 cents a pound
Tor delivery during the next two
quarters.
American express moved up more
Than points TO new peak price.
Rumors OF extra dividend disburse-
ments had favorable effect on
Studebaker, up Ia, and Coca Cola
up "A. Total sales were l,1l6,00O |
shares
Call money rates continued 10
case, despite the sharp drop from
tt4 to 1871 per cent I'm tho federal |
reserve bank ratio reflecting in
creased demand for funds for crop
moving purposes. Call money rate |
opened at 5 but softened to a. be-
fore the close The time money mar
ket was qulet and firm, as was that |
Tor commercial paper. The feature |
or the foreign exchange market was !
me buying Of Norwegian crowns |
which advanced - points Demand |
sterling improved on the absence of |
any noticeable offering Of grain and /
cotton bills and other rates were |
Irregular
Heavy selling lof Liberty bonds
All OF the Ia series, OF which sold |
below par. was the feature Of 10. |
days Irregular bond dealings, the |
.''i' 'ltHu III NilIN was downward. !
speculative railroad mortgages /
were the hard!st hit. losses OF 1 to |
=. points taking place in Chicago |
southwestern 5s. Kansas City South /
'rn 5s, Great Northern ~. Frisco /
income 6s and Southern Railway. |
H'. Louis division As
Ihere were a few exceptions 70 /
me reactionary trend IN the RAN /
group
Most Of the local fractions con. |
,.nued to reflect selling pressure, |
new York railway per cent GER
uilcates dropping 81
IN the domestic list the outstaud-
ing developments We're gain of |
? "a In lnvincihle oil So aud losses |
ot TO l l-2 In Consolidated Coal OF 1
MARYLAND Sc, Bethlehem Steel re- |
Ilndins 5s and Chile Copper Is.
except for gain OF . 3-l in cuba /
republic / l-2s, prices OF foreign |
securities moved irregularly within |
narrow limits.
Bond Issues totalling S3.s22.O0O of .
lhe city OF Norfolk, Va, were
q aWarded 10 syndicate headed by |
u 4yden stone a. Co.
I:tSi sales, par value, today were
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