The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-08-28
TRADING IS ON MoRE EXTENSIVE
SCALE TAAN AT ANY TIME IN
PAST TWO MONTHS.
Dullsh FACTORS were Announeemeht %
Increased Goal Production and wage
xAsreAss In steel Industry
Foreign Exchanges UpseF'

View York. Aug 2,.-Qu"ted values IN
ma bond and stock markets result 10
new high levels FOR 'his week. In 'he
face OF decidedly hcorish news deNe'"p.
,nEnts These Included the failure OF
the anthscttc coal and rail strike con-
rerences and the inability % the rapa-
ratfons commission 20 reach an aSreS-
ntent with the German EoNernmSA,
Trading In stoc kand h"nd marN'',
WAS on more extensive s'h!e ''','
a,v time in two months million snare
a. canning back into tho marks; Tor
.bs 6rst time since the latter r'rt OF
.suns The underlying strength OF the
market reflected the financial coinmu-
nitv's belief that there "a iUte "Net'-
hood Of further serious Interruptions ."
rail traffic that the roai StriN" - syn
eapsnls O., early Amusement and ina.
ina expected industrial revival THIS ta'
will take r,ace despite Increasingly "u'
Favorable dOvelopments ~ the European
political and economic situation.
Hoovsrs Report Helps,
PulllSh factors N thH marNS! VIZ
the announcement by Secretary h"o'er
that soft coat production would rrarn
{ ono n,n ,o,s or three quarters ~ nor
NAL this week. and the :" re. Gu
wage Increase IN the steel industry
n, seyeral iron and srccl products. wall
a,rns, construed the increase As an
Indication that a shortage OF day laHor
was threatened and that ne heads or
tbe steal Industry we're confident 'h''
the fail demand would permit Z :" us
pose OF itz products \; profitable prices.
The trend n most commodity prices
"a UPWARD hut bumper crops VIII ~
AL probability result IN continuance
~ relatively cheap grain prices, tn7-
Their price reductions occurred during
me week in the sugar and ruoper III
austrles.
imitation Feared.
Fears have boon expressed IN some
buarters that Industry e entering Int"
another rcrlol or imitation. As alleged
evidence or this. attention was called %
the advance In steel wages and prices
the signing nf the Cleveland coal agree
nent A, tho old rate Of wages. the IN
creased wages granted IN the to1nHNs-
Willie coke region and The offers ~ some
Of the large Massachusetts, teN;.I" mills
10 rescind recent wage cuts.
Foreign exchanges were badly upset
during tho week by the failure 70 agree
on n reparatlons plan. German marks
seemed 70 follow IN tn" wake Or the
depleted currency or Austria. helng
quoted At the rate or uNe Cen'S "H"-
bred. which Is two and onc-hait cents
below the rate last week. French francs
also fell to tho lowest level 90 the year
while sharp declines took rlac" In the
RelSian and Italian rates. Demand
E,crung yielded with the rest hut less
Violently. Czecho .Slovakin crowns. how
ever. moved 10 a new high Level. reflect
Ing The improved INDUSTRIAL and crop
conditions IN that couhtry.
one Favorable development.
Settlement Of tho troublesome export
OIL tax question nv Mexico on the basis
Of IN rer cont o' tn" old rate was one
NJ the few favorable foreign develop
mSnte. Proceeds of the tax will he set
aside 20 meet payments on the Mexican
aeb, IN accordance with the agreement
recently concluded between jnterna tiona>
bankers and Minister Of Finance he La
Fuerta
Money rates continued 20 he easy,
although The cali rate exhibited I
slightly firmer tons 80 result ~ the
calling ~ loans by interior banks IA
Anticipation % Sertembcr require
, nents. There has hesn comparatively
kittlc inquiry for industrial credit. sew
Aal projects requiring large financing
~ lid in allowance by the unsettled
>-S-Iualinn,