Norwich bulletin., 1922-09-01
FINANCIAL AND COMMERCIA.
MARKET VAS BuoYANr.

New York, Aug 31-Confused price movements took place in today,s stock market, but closing quotations were ren- era.ly higher than those of yesterday.
 Overnight announcement of d receiv- ership fort he Chicago and Alton rail- road. because of heavy expenses incur red in the coal and rail strikes. induc- ca Dearish operations. especially against the cheaper rails. which temporarily un- settled the market. Sentiment became cheerful again. however. upon advices to brokers indicating a speedy end of the anthracite coal strike and brisk ose- nand for oil shares which apparently was based on government reports of heavily Increased con sumption and de- creased production of the crude pro-" duets during July.
 / Wall street was not wholly unprepar- ed for the Alton receivership The pre- ferred stock of that road had closed Wndnesday night at 1-2 and the com mon at 7S. The opening sale today was 5000 preferred at and 900 com mon at 3. The preferred rallied later and closed at 5 3-8, while the common declined to 2 IA before It rallied and closed at 3 If. The break in bonds was much more pronounced.
 The heaviness in Alton extended to other low priced rails. but most of them recovered part of their losses be- fore the close. Western Maryland was off .-S on the day !; Chicago Great Vest ern l 1-2, the preferred. 1-2 St. Paul 1-2, the preferred, 7-S; Minneapolis and St. Louis l 1-2: Kansas City Southern S-4 Texas Pacihc~1: New Haven 1-2. !. Canadian Pacific crossed 151 on re- ports that the volume of freight traffic was the heaviest in it's history. Equip ments were in good demand upon pubh- cation of report that the .Pennsyl- vania railroad had ordered 100 large 1 locomotives from the Baldwin company. Baldwin advanced nearly a point with | sympathetic gains being recorded by American Locomotive, Pullman, Ameri- can Car and Railway Steel Spring. l Mexican Petroleum enjoyed another of l It's sensational moves today, closing at net gain of 10 3-4 points on heavy buy l ing by speculative interests. Both is- sues of Pan-American, which controls 1 Mexican Petroleum advanced more thar three. points Most of the other. foreign
 and domestic oils showed only frac. l tionaf changes, most Of them upward California Petroleum, however, moved UT 1 2 points on a fairly extensive turnover Specialties which registered substan. 1 tial gains for the day included Ameri l can Wool, Loose Wiles and Pittsburgt \ Coal.
 Total sales approximated 7s7,oot
 sharesi
 Foreign excrange rates were irregu
 lar the announcement of Premier Poin
 cares acceptance of the Belgian com
 promise on the German reparations ques
 tion comirA too late to influence today,
 market quotations. Eearly rates of de
 mand sterling and continental renittanc
 es were generally lower, but they i'm
 proved as the day progressed. Czecho
 Slovakian crwns continued to drop un
 der speculative selling presslire.
 Call money opened and renewed a
 4 1-2 per cent the highest rate in nor
 than two weeks, and hardened to at tn
 close. The arnness was due to Septem
 Der 1 and holiday requirements Tim
 money rates were virtually unchanget
 with little business being transacted.