, 1922-08-08
STOCK TRADING
IS IRREGULAR
Ups and Downs Recorded in
New York Market in
Rapid Succession.

NEW YORK. AUG. s-Prices moved
within Irregular trend IN today's fair
ly active stock market session. In
abn..y OF pools to attract an outside
following at the higher v of prices
and a weakened technical position en-
Outraged bear attacks. These were
directed principally against motor
end shipping shares. weakness of
which undermined tho whole list
after an early show OF strength. The
advance was resumed later but real
lzing sales limited its scope Sales
appropriated 100000 shares
The upward movement was re
sumed IN the last hour In response
to the demand for high grade rails.
equipments and some OF the special
ties. but this was checked toward the
close by profit taking. Baldwin and
Corn Products led the rally at gains of
approximately 3 TO 4 points. willis
Omaha, Chicago g. Northwestern, and
Lackawanna railroads moved to new
| hiKh levels. The closing was irregu-
lnr.
NEW YORK. Aug. s.-opening
prices on the New York took q
change early today were irregular but
| most of the important changes tended
upward wall street continued to take
a hopeful view OF tho o and rail
strike situations. rail shares being In
! rood demand and making moderate
gains. Pere Marquette and Great
Northern preferred rose fractionally 20
new high records for the yea while
gains OF half to one point were made
hy Illinois Central. Northern Pacific
md Southern Railway preferred.
There was active bidding for equip
ment shares. Baldwin and American
Locomotive rising IN and y points
respectively. each to n now peak price
Cor 1872. Mexican Petroleum which
shot up IN points. featured tho oils,
while Sears Roebuck and May Depart
ment Stores led the upward movement
n mail order and chain store issues.
studebaker was slightly rea%ctionary.
other losses were confined to small
fractions.
The market strengthened during
the first hour, rails. merchandising
and public utilities shares leading the
advance. Toward oon however,
short pressure was directed against
motors. shippings n some Of the
foreign oils, tho general list weaken
ing as a result. Additional new highs
for the year were made by Omaha.
Chicago and Northwestern and Lack
awanna railroads. which were up IN
to nearly 4 points. Goa stocks re-
sponded to better news regarding q
strike settlement. Burns Brothers A
and B. Pittsburgh Coal and Pond
| Creek advancing l to ~ points. May
| Department stores IND Detroit Ed
| son broke through for new highs at
| gains of 2 to 5 points. When the
| bears began their attack Marine PRE-
ferred n American international
| dropped III points each. willis Stude-
| baker and Chandler Motors declined
even lower. WHY'S Overland preferred
broke sharply. dropped 6 points. The
| reaction also extended to Baldwin,
Great Northern preferred. Royal
|; Dutch. Corn Products. Manati Sugar.
Adams Express and Market Street
railway SECOND preferred which were
down 1 to 2 points. Call money opened
at 81 per cent.
Mexican Petroleum was singled oui
for concentrated selling and wher
it made a precipitate drop to lee
| compared with 174A, its earlier high
figure. the entire list crumbled
Traders made haste to take profits
on earlier purchases and there was
considerable short selling on the
theory that a setback was warranted
owing to a weakened technical posi-
ton. Stocks which were strong carly
relinquished their gains to a large
extent ind a considerable number OF
shares were quoted'1 to 8 points be
low yesterdays figures. American
International siumped as to a new
low price for the year. Buying Of
Baldwin Locomotive and a rally OF
s points in Mexican Petroleum caused
later partial recovery in the genera
list.
Sugar.
NEW YORK, Aug. s.vsugar-Fd
lures closed steady: approximate
sales, 80, 800 tons. There was no I'm