, 1922-11-02

NEW YORK. Nov. Stock prices
were pushed up I'm rapid fashion at the
opening OF today's stock market the
buying embracing n wide list OF
standard shares and high class spec
iaities. Standard and Mexican Oils
showed some hesitancy at first but
later began climbing with the rest OF
the list. Belief that the regent reae-
tio1 had run its course brought a
food Of overnight buying orders
into the market. Inquiry for
railroad shares vas influenced
by record carioadings. gains Of
TO : points being registered by Read
ing. northern Pacific. Canadian Pa.
5if;e. st. Paul preferred. Union Pa
cific. Southern Pacific. Chicago and
. Northwestern and Nickel-Piate.
Short covering accelerated much OF
the early advance. which ranged from
/ TO 5 points in active shares. Specu-
iators for the advance. noting a vir-
tual absence OF short selling and
forced liquidation and the splendid
resistance shown by the list to the
huge volume of realizing sales. bought
stocks with fresh confidence. En-
~couraglng trade news. including re-
!. VIZ NAAaN O1N0R1 aaNobA1gAG BAC
Nviction would exceed that of Septem-
Der and conspicuous strength OF for
eign government bonds, also contri.
buted to the more cheerful sentiment.
The largest individual gains were
made by Dupont. American Express,
American Car. Brooklyn Union Gas.
Chicago Pneumatic Tool and Ameri-
can Tobacco. all up. 8 to 5 points. May
DEPARTMENT Stores. California Pc
troleum preferred. Jewel Tea. prefer
red and Marine preferred. were reae-
iionary. losing l to 2h points. Call
mony opened at S per cent
Equipments rallied urder the leader
ship OF Baldwin and American Loco
motives, each up about two points.
while Mexican Petroleum. Standard
OH Of New Jersey. Barnsdal "A"
and California Petroleum were the
outstanding oil shares rising III to ?
points. Among other individual
strong spots were Vanadium Steel,
Coca Cola, Continental Can, Marine
preferred. United States Alcohol,
American Snuff, American Tobacco
United States Realty. Studebaker and
Consolidated Gas, all up one to three
points.
r Resumption of an active demand
for high priced dividend paying
stocks as feature of the early after
noon dealings. Various popular trad
ing shares trailed in .he wake OF the
Investment group but m the mair
there was less activity in the active
section outside of the equipment is
sues. Public utilities shares vert
buoyant, American Express rising
IN. Consolidated Gas, Pacific Ca:
and Electric ii Wells Fargo 3 t.
az. Declaration Of an IS per cen
stock dividend by American Stee
Foundries carried the price up owe
3 points. Brisk buying of the equip
ments sent American Car up SIS
Pullman AZ and General Electric
Baldwin and American Locomotive
TO sE. Investment railroads als'
were notably higher. Union Pacific
Canadian Pacific and Delaware
Lackawanna and Western improving
? to az. other noteworthy advances
were National Lead 5h. National Bis
cult 5. American Radiator ~, Stand
ard OIL of New Jersey AZ AID Mexi
can ePtroleum. Gulf States Steel. Pos
tum Cereal and General American
Tank 3 to az,
Y The closing was strong. Bull op
orators continued in complete contro
throughout the session. bringing new
issues forward to stimulate the mar
ket when several of the early leaderi
showed the effect Of profit takini
sales. Some of the largest gains wer'
recorded by Mexican Petroleum. Jer
sy Central. General American TAM
Car. Loose-wiles. Endicott-Johnson
Corn Products. United. Fruit, Amer
lean Tobacco and sears-R oebuck' al
up 5 to 6 points.