The Washington herald., 1922-08-18
FINANcIAL


NEW YORK Aug. ff,-Prics a.
vsncss In q large number of issuss.
while not IN any case sensational.
gave the stock market the appea<-
ance OF tugging st the ties wh4cA
hold n 20 the present lsveL via
the coal strike virtually sscfls1 and
with railroad executives ana labor
leaders In direct conferences With
one another for the first time slnos
the shopmen's valkout beEAn. wan
Street strongly inclined 70 the opfn-
ion that the end OF our labor dfn-
euities 10 at least In sight A. re-
CARDS the other principal a1verss
factor. the Buropesn situation, opfn-
ION was iess optimistic. although the
strength In the exchanges might
have been interpreted a. indicating
more hopeful attitude regarding the
outcome Of this also.
Csal Lesafnes-
Coal loadings on American rail-
roads for the week ended August 3
show an increase Of ASIA cars over
the previous week. but this 10 q de-
crease Of 6e.s<e cars from ths cor
responding week Of 1871. There
was q decline OF s.io1 cars In load
tngs Of merchsndise and miscel-
ianeous freight. compared with the
week before. but . gain Of si.sss
cars as compared with the same
week last year. Losdines Of live
stock. coke and forest products also
showed some decline from the pre-
vious week. but in each case they
were considerably m excess for the
same week Of 1871. thus indicating
q substantial increase In the volume
OF trade turnover in spite Of the
shortage OF fuel and interruption TO
the transportation Grain loadInc..
however. were below both the preSi-
Gus week and the same week a year
ago. rejecting the recent drop In
the export demand and also perhaps
the unwillingness OF farmers to sell
tireir grain freely at present prices.
strong at ope.fns
For the third successive day the
stock market repeated the same
performance OF opening with an ap-
pearance Of much strength and a--
tivity. followed toward the end OF
the first hour by another relapse
into dullness with slightly lower
prices. II was noticeable, however.
that the number Of Issues which
gained ground during the early
trading was somewhat less than ON
previous days and the amount OF
the advances in individual issues
was somewhat less. The first hour
turnover was also below that Of
yesterday.
Formidable List Advunee&
The list of stocks which advanced
a point or theresbouts was again
a formidable one II included
among the railroad issues Delaware.
Lackawanna and Western, Great
Northern preferred. Reading, Chesa-
peake and Ohio. Southern Pacific,
Union Pacific and Northwestern.
Western Maryland. which has been
dormant for several weeks, came TO
life with an advance Of a full point
on a small volume Of transactions.
The real leader of the rails. how
ever. was Lehigh Valley. which
stopped just short Of 2-point ad-
vance before noon.
Feretsn E.ehsner.
Trading In foreign exchange was
brisk. with the continental cur
rencies. whose prices had been de-
pressed by the failure of the Lon
don conference, recovering from
their recent low levels. German
marks were the conspicuous excep-
tion and reacted to Iheir record low
price Of oOsh Of a cent. After
opening a quarter Of a cent down in
London this morning. sterling ad-
vanced sharply on buying in New
York and at s44s was IL cents
above yesterdays final pric.
French francs and lire also quickly
rallied after a weak opening, the
FORMER at 7-s7 cents made a gain
OF eis points and the latter at ass
was up points. Guilders rose Is
points TO 30 cents. their highest
nrice Tor The nnar