The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-11-11
DECLINE FORCED
IN STOCK MART
Spectators Take Advan-
tage of Lack of Pub
lie Interest

NEW Ohht ANpNs lNt-r- = lttAiA -
sors for the decline succeeded in
forcing another recession OF prices In
'oday's stock market. taking advant-
age of a lack of public interest and
tHe disposition OF large interests 10
delay making further commitments.
election results and more definite de-
pending more careful analysis OF
yalopments in the near east Prices
o. the popular issues showed Losses
/ to points on the day.
4 number OF issues showed signa
q strength In the early dealings.
Howevs., the large volume OF stock
offered at the higher prices and the
failure TO attract an outside follow
ing soon discouraged spectators for
the advance and they began to take
profile on recent purchases.
United states Steel common failed
10 respond favorably to the monthly
tonnage statement, showing an in
crease Of 2l0,6s0 tons In orders. In
fact. the stock was subjected to
short pressure soon after the an
nouncement and it sagged to l06 y A.,
4is points below Thursdays high,
but rallied to 1878 at the close,
net loss OF IL on the day. other
steels were weak In sympathy, Beth
'ehem B dropping 17s; Vansdium
~; Republic IA and Cruciblo and
NIdvale "a each.
Allied Chemical was again under
pressure In the early dealings, be-
ing down nearly three points at one
time, but 1t closed only small frac-
ZION below last nights close. Bald
win. studebaker and Mexican Pc
tro,eum, speculative favorites, all
showed losses at the cluee Baldwin
and Mexican Petroleum being about
two points below yesterdays final
figures, while Studebaker was Oft
only = point.
Most OF the standard railroad
psiares showed fractional losses on
the day. Missouri Pacific preferred
opened points higher and then can
celed its gain. Norfolk q Western
dropped Il; Northern Pacific las;
Chesapeake q Ohio Fl; Chicago q
Eastern Illinois ., and New York
Central a.
\ sharp is-polnt rise in Dupont
Powder brought about fractional
Improvement In General Motors.
General Asphalt recovered slightly
from its weakness OF yesterday and
further Improvement was shown in
Remington Typewriter preferred
shares. Houston oil broke 4 points
but the stock rallied a bit later
Total sales were 100000 shares.
call money opened at 5 a per cent
but eased off to IN the early after
noon closing at that figure. The
time money market continued firm
with trading quiet. Foreign exchange
rates were irregular with demand
sterling holding around ;+.46 aud
French francs selling only slightly
above 6.40c each.
Bond prices turned decidedly
weak in today's comparatively quiet
dealings. Foreign securities and rail-
road mortgages showed the largest
losses, which ranged from to 9
points. Paris Lyons NJ Mediterranean
IS, which originally were offered to
the public at SO. sold today az 6S, a
net loss OF points on the day and
a new low record. Losses OF a point
took place in Norwegian SIS, Prague
IS and Bergen SIS, while the French
Z lAs and SIS declined fractlonally.
Among the large number OF rail-
road bonds which registered declines
ot q point or more were Missouri
Pacific Is, Norfolk & Western con-
Feruo!e IS and Atchison convertible
As OF 1860.
Further profit taking I'm copper
company liens were indicated by the
a-point drop In Chile Copper 7s and
a decline OF 1 point in Cerro de
Pasco SIS. Marland OIL 7ihs and VIII
son Packing convertible 6s were
strong.
Liberty bonds were irregular. The
y '2s dropped is cents on 500 and
the fourth AIS and uncalled Vic
tories cents each, while the flrs,
ana second 4As advanced l2 and
as 2 cents.
Total sales, par vale. sli.2O4,OOO.