The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-08-03

~ sTUART 2. WEST.

0ffHf 8y - 49, W1YA |
yad Street, New York, Aug. RI
ID nerplexities In relations BEL
ssn England and France over |
~ debts joined with the uncer-
'rail strike situation today |
~ . damper on trading in se-i
;.ities. Most classes Of stocks
ssss1ed of we'll enough. and 1t was
apparent later that liquidation
Irred but quotations. sagged
sSSer easily, and 1t was dinicuit to'I
S;see any definite trend. The
<snog technical position Of the
sssar market helped to advance
5sfan-American Sugar for a time.
~ price OF 3N cents q pound for
- sugar in early sales was a new
IN ouptation for this year. and
II earried the refined product along.
n vas evident before business had
so0ressed far that efforts to bid up
;sssticular issues were not produc-
~ Of much action. Automobile
siocks felt pressure from the most
sscant cuts in motor car prices.
Il was impossible at long range
= istsrmine exactly what lay back
a % British notification that the
6inosition of her allies debts to
~ hinged on q Encouragement Q
r. ntire war dxt situation. But
M dispatches indicate dthat the
reaction of France to what APP
se1red to be a closing of the door
sssinst the reduction or cancella-
"a Of her obligations to England
q return for concessions in the
faparations bill was immediate and
eomewhat disturbing. The reported
threat to invade the Ruhr district
I and operate German business to a
/. defree for the benefit Of French
basiness men to whom German in
! fesests owed money, reopened an
soM wound. The soft character Of
tie market for foreign bonds here
!, ~ also disclosed some uneasiness
!, during the last few days, although
/ here have been few signs Of ex
eessiye sales. At the moment, how
ever, the whole question of foreign
|. finances is to obscure to permit o
|. deductions Of the future. Real in
formation will come soon OF rela
| tons between the allies when tn
1, British and French premiers hol'
|, their projected meeting.
\ The markets were rather at Sc
about the rail strike. In the ligh
LOT confidence verified by rail ex
ecutiyes that their forces Of shop
,nea were rapidly being built up,
booked as though repair wor
s,would soon be ON normal bash
But the unofficial limitations frol
Washington that the railroads wer
Ion probation and must make goo
ron coal deliveries or go under go,
3sernment control was not heagter
ing to spectators in stocks. Sue
railroad traffic reports as are con
ing to hand display better freigl
rmovement than a week ago, r.
corded particularly in an increa.
1T 1000 cars in bituminous Loaf
ings on Monday! The very dull an
uneven condition of railroad shart
indicated that the market was il
clined to wait little longer befof
taking a genuine position In n
aspect to the strike.
One Of the few features OF IL
stock movements was the streng1
Of Merchandising Companie
Shares, notably Woolworth. whit
got well above 1870, for 8 points a
vance on rumors of a possib
extra cash disbursement on Il
next dividend date. julius Rays
also went forward rather brisk
and with Malllinson establishing
new high.
The foreign exchanges BEGAN
moderately firm during the cour
f the day, the German rate gettil
1sup around 14-100 cents as again
}. the closing quotation of 125-10
I cents Wednesday. At the saI
sterling and francs advanced fra
/. t0nally. The Bank Of England I
serve ratio of 1920 per cent, a d
cline Of slightly more than o
per cent for the week reflected su
stantial expansion in loans and G.
citation, the former being enlarg
E35,000 pounds. The circulate
snin was A little over 1000. @
| pounds.
While public borrowing
creased the government reduced
loans at the bank by more tn
100000 pounds. Call money
newals here were again at 4 ]