The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-04

Nea York. Oct. .S-Another sharp ada
vance in prices took place in today
stock market session.
While some of the impetus TOR the
advance was due to short covering IN
tlueHces by federal developments IN me
Near East and prospects for easier
rates. there were indications that much
o. the buying was based or the s?ecu-
lative belief that the reaction OF the
last two weeks was III the nature OF
correction a; an "Cer-hought condition
and had gone nearly far enough. NJ
parently there was comparatively cu'-
side participation by small traders.
Standard OIL Up.
Standard Oil stocks were the individ-
ual features. Buying OF this group was
based on speculative belief that Win
the soldiers bonus bill dead and ths
possibility OF stock dividends being tax
al 20 meet payments for the same elm
mated. proposed capital readjustment OF
some OF the companies soon would he
effected. STANDARD oil OF California
earnings ot which are reported 20 have
been unusually good. was pushed up -
points TO a new high record. and stand
ard OF New jersey established a new
Peak price on gain % points othrr
were strong in sympathy. Mexican fe-
troleum registered gain OF four points
with gains of to at2 being made by
Trans Continental. Associated oils. and
the Pan American issues.
Big Jump for d. L b ".
The outstanding development In the
rail list was a seven point gain by Della
ware. Lachawanna & Western. which Is
expected to profit heavily through ship
meats Of hard coal. and Is reported 10
be considering an extra distribution 70
stockholders. Private liquidation CT
large holdings Of this stock are report
ed to have been made recently FOR the
estate OF William Rockefeller. Other
hard coal carrying railroads advanced.
bu, less sharply. gains OF to ~ being
recorded by Reading. Lehigh Valley and
Delaware and Hudson.
Further advances took place in sugar
shares in response TO additional an
nouncements OF price increases. Amer:-
can Beet Sugar advancing . points with
smaller gains being recorded by Amer
lean. Cuba Cane and Punta Anegri.
Equipments continued TO reflect the In
duN OF heavy orders at the principal
plants. gains OF I 70 "A points being
recorded by Baldwin. American Lima
locomotives Railway Steel Spring anc
Pullman.
National Biscuit Up
Resumption of pool operations was
evident In the activity manifested by
several speclalties. National Biscuit
. was pushed up 1o% points on reports
that the company was contemplating
splitting up it's present shares into three
or four parts and increasing the divid-
end. 4 Loose w!les Biscuit advanced In
sympathy. AR Reduction was carrie :
20 a new high on announcement that tho
company had let contracts FOR doubling
It's plants in Buffalo and Minneapolis
and that the expansion would be paid
for out OF current funds and without
the necessity OF additional financing.
Rresge also enjoyed a sensational adj
vance OF more than 10 points on rumors
OF increased dividend disbursements.
Copper shares. especially South Amer
lean issues, were more active than
usual
Call money opened at AZ. but easec
of to "A just before the close. Time
money was also inclined to ease In re-
Spouse to the clearing up OF frsts OF
the month transactions. The CONNER
cial paper market was quiet.
Foreign exchange rates were slightly
better. Sterling was a bit weak at the
opeaiRe but, strengthened TO nearly $50
hter> the advance being checked BY
Asapt' offerings OF cotton bills. German
marks were heavy. selling just over
Ave cents hundred. Canadian dollars
still sold at a premium.