East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-08-12

1O.50@11.5o
10000 1850
100 % 800
1900 @12.50
1850 1900
G.O0@ 800
IDS. .........
Smooth heavy. goo lbs,
Western Union Reaches
New Record.

NEW YORK. Aug. ia. P)-
Bond prices on the New York stock
exchange held firm today with most
changes being of fractional nature.
Rail issues were strong, but they were
overshadowed by the industrial group
in which Tobacco Products SIS, Saxon
company Is and Western Union 1-2s
went to new high prices: Conspicuous
strength also WITS shown by Wilson
Packing SIS and 1-2s and Armour
Real Estate As New York Central
debenture 6s were up to 108 1-2 for
the first time, while the best prices of
the year We're also made by Chesa-
peake e Ohio convertible 5s, st. Louis
& Southwestern consolidated As and
Southern railway IS. A good inquiry
also was noted for traction bonds.
Leaders of this group including Inter-
borough Rapid Transit 5s Third ave-
nue. adjustment 5s and the Market
street of San Francisco SIS. Liberties
were generally up to 20 points, with
few changes noted in the securities of
European governments. Cilno'l lian
government IS were active a1h strong
upon the announcement thar he grN
ernment planned to retire We +t1S,-
000, 900 of its victory 1@S offered
in 1919. Brazilian bonds u - nrrt-
ened.
Total sales, par value, were s19-
305, 900.
An issue of $9,926, 900 of 6 per
cent equipment trust certificates of
the Boston e Baine railroad, which
were offered today at 1913 and inter-
est to yield Ats to 5.75 was oversub-
scribed. The only other important
offering was a nissue of $3.50 600 6
per cent equipment trust certificates
of the Philadelphia Rapid Transit
which were offered to yield
from to per cent.
Prices on the New York stock ex-
change continued today to move
upward regardless of strike
developments. Trading naturally was
restricted pending outcome of today's
conference, the days sales approXi-
mating $4,000 shares.
Rails continued to move ahead as
a group on relatively light dealings,
but the greatest strength was shown
in industrials, several of which made
new high records, Bumper crop pros
poets continued to impart buoyancy
to International Harvester and Ad
vance Rumely preferred, manufacture
ers of farm implements which jump
ed about three points to the years
prices. Sears Roebuck and Mont
gomery Ward also advanced sharply
in response to the same influences In
ternational Paper advanced sharply
on announcement of an increase of $5
a ton in the price of newsprint paper,
while y. s. Alcohol went to a new
high on reports of increased produc-
tion. Equipments like Baldwin and
American Locomotives and General
Electric bettered their positions, pre-
in response to further orders
by railroad companies.
Shipplngs, like International Mer- |
camille marine preferred and Atlantic |
Gulf & West Indies, which had been
more or less reactionary all week, |
We're up over point.
Cuban sugar stocks also displayed !
n stronger tone, indicating an end of
the pressure which followed the sem
atc's adoption of higher tariff duty
on the Cuban product Columbia Gas, |
Edison and Pacific Gas &
all at new top prices, featur- !
ed the general advance in public util- |
tiles. The demand for rails was con-
fined largely to the low priced issues |
such as st. Louis & Southwestern |
Pacific and Texas & Pacific. !
Special activity in Wabash was based ,
on a report of the earnings, which /
were at the annual rate of 50 a share, |
Mexican Petroleum, moving within .
a radius of nearly 6 points, was up
4 l-2 points today, hut Studebaker. /
Chandler and some of the other spec /
nlatlve ravorltes showed little change. |
CAN money opened and renewed at |