, 1922-12-12
ISSUES
SCORE ADVANCE
Lead Way to Upward Move
p ment in Trading on New
York Exchange.

NEW YORK. Dec. I2.-l.ctive buy
ing OF special stocks as n result % a
possibility OF favorable Developments
provided the impetus for a modern al
Saucs IN prices in todny's tick mar
Eet. Reports that the 3h pr cent
e-erat,annual dividend on Great North
ern preferred would be maintained en-
couraEed active buying Of railroad
shares, particularly the dividend pay
ing issues. A further sharp rise in
sterling exchange and lower call
money rates had acieerfu ! effect on
sentiment. Sales appropriated soo.'
COO shares.
NEW YORK. Dec. 12.-Frices NOV
I'd within a narrow irregular range
ket. specialities in which there is n
al the opening OF today's stock mar
prospect OF stock or extra dividend
disbursements were bid up but indus
trial leaders such as Studebaker.
Baldwin. Republic and Crucible
-Steels and Standard OIL of New
Jersey showed fractional losses. Elk
cept for a slight gain in New York
Central. railroad shares were virtual
iy neglected. Gains were registered
by National Lead. Beechnut. United
Fruit. Iron Products. and Mackay
companies. Allied Chemical sold off
two points at the opening and then
recovered its loss. Peoples Gas,
Consolidated Gas and Public Service
OF New Jersey were some OF the early
weak spots. Trading wns relatively
dull and OF a professional character,
Foreign exchanges opened strong and
thea eased off slightly.
Impressed by the quality o; the
buying power In various industrial
groups, bunish interests were encour
aged TO try their hand in the railroad
stocks and started bidding up the rep
resentn.ive shares. When the rally
IN the dividend paying issue was we'll
under way. low priced stocks were
taken up but the advance In this
group was not as pronounced as IN
the higher grade issues. Jersey Cen
trail jumped 8 points. Great Northern
8, Canadian Pacific 2 and Union Pa
oifIc, Reading. Northern Pacific. New
York Central. Southern Pacific. st.
Paul preferred and Pere Marquette. l
TO 1is. Elsewhere the trend was de-
cidedly upward with marked strength
being shown by the steel, merchan-
disinE. shipping. motor accessory n
food shares. May Department Stores
made c gain Of & points. establishing
n new high recrd for the year and
Fisher Body was pushed up ca. also
creating n new peak price. Gains OF
. TO SA points were registered bv
Marine preferred. National Lead. Cru
chile and American Sumatra Tobacco.
Call money opened at AZ but eased
off to 4 before noon.
The stock market showed a stronger
one rs the session progressed with
tho professional traders directing
their efforts asainst stocks which a
large short interest was suspected.
United states Steel. Baldwin. Corn
Products. American Can and Stude-
baker made considerable Roadway in
the early afternoon. Less active
shares also moved up, notably Fisher
Body extending It's rise to So points
ind May Department Stores 6. Hous.
ton OIL improved 3Is and Gulf States
Steel 8 points.
The closing was firm. Special buy
ing in a long list of minor stocks pro
vided a cover for proflt-taking safes
in some OF the more popular issues
toward the close but the recessiors,
as 4 rule, were limited to fractions.