The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-27
SHORTS MOVED
TO NEW ACTIVITY
Prices Drift Downward,
but Range in Within
Narrow Limit

NEW YORK, Sept 26.--Lack OF
fresh buying power and renewed
concern over The foreign situation
encouraged professional short no
interest to great activity IN today
stock market. Prices drifted down.
ware but generally within marrow
limits. The selling movement was
aided in its early stages by rather
heavy offerings from western points
Domestic ncws was largely favor
able
Trading was again largely I'm the
hands Of professional interests. The
lack Of Investment demand was rx-
plnlncd as being due 10 the hcsl-
fancy of present holders adding TO
their commitments because of the
threatening aspects ~ the near east.
crn situation and the uncertainty
regard ling the governments plan for
refundinE ITS short-tcrm OBLIGATIONS
maturing In tho next few months.
Uucouf,rmed reports or capital
road lum ment and possibility Of extra
dividend disbursements continued 20
have favorable effect on standard
on sccuriticp standard Of n. j. rih-
ing is and Standard OF California
IA; pau-A mcricau and California
Petroleum also substantially bet
tered their positions
Predictions that the August earn
lngs statements OF railroads would
show heavy loasea as result OF IN"
miuers' and shOpmon's strikes were
borne out by figures supplied by tho
Union Pacific system. They showed
a loss I'm net operating income for
August Of Sl,b49,219. below that OF
the corresponding month Last year
However, the gross income was
S3.OOO.O00 more In August than II
was In July ana larger than that for
either May or june before the shop
mems strike won't into effect Large
ly az "A result or this showing Union
Faciflc stock was among the hardest
nit IN the rail group, dropping l i-2
points Atchisun. Cuuadian Pacific,
Northern Pacific. 81. PAU common
ana preferred and Chicago North
western also scored material re-
rcssiuus. other changes were large
ly fractional, some OF the spcclaltios
moved against the prevailing cur
rent, Coca Cola moving up nearly
points and Jewel Tea I i-2, Du
Pont Jumped up \ points on a turn
over OF about 5000 shares.
Total salcs were $4,000 shares.
CAN money opened and renewed at
4 1-2 per cent but eaSod of To 4 |
at the close, The time money mar |
ket also showed tendency 70 ease. |
bankers who had been holding out |
for 9 per cent rate for the longer |
maturltlcs lending money today at
4 IA. The bulk OF prime mercan- |
tile paper commands 4 per cent
Foreign exchange rates were
slightly irregular. Sterling yielded |
"A La 10
offering OF commercial bills against !
grain ana cotton shipmcn,s while |
the continental rates were inclined |
to harden
Weakness III both Liberty bonds
and high grade speculative issues
prevailed In the bond market today
/ Liberty second 4s second ANS and !
third a sold below par today for |
the first time In long while. All |
the government Issues were lower, |
Tho general decline was attributed |
both to uncertainty over new gov
crnment financing and the European |
political situation.
In the foreign bond list French |
7 ias, Brazil So, CZccho -Slovnkia Ss, |
Bolivia Ss and Seine rs, declined / TO |
/ - points.
High grade utilities held mp better |
In the domestic list than rails or In /
dustrials. Declines OF ! to y points /
were noted In chile Copper 7s, ST |
Paul General dAs, st. Louis q Iron
Mountain, River ana Gulf Az, Nor
folk a. Western convertible &c. 81
Louis san Francisco income 6s, Sea
board Airline rctunding hs, inter-
national & Great Northern ADJUST
mont 6s. Chicago & Alton 3hs, New
Orleans. Texas and Mexico bs, nud-
son & Manhattan refundinE 5s, Third
Avenue adjustment hs, cuba Cane
convertible 7s and Colorado Indus
trial Js. Texas & Pacific lists de-
Clincd points.
Total sales, par value, were $l2,-
4G3,00