The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-09
}EACT|ON AGAIN PRONOUNCED
IN NEW YORK STOCK MARkET
leaviness Encouraged By
Foreign Situation, While In
dustrial Developments Con-
tinued Conflicting.

New York. May S.-The week IN tho
koek market began with uumIStaNAo'e
isns OF a reaction frnm the long SuS-
aimed bull movement. For the nrSt
ull session in about four weeks. d"2.'
nes fell under the million ShLr" level
arely aKgregatinS 975.0n0 shares.
At no time was the buying power r
match for the selling. q considerable
art OF tho offerings em,nat!nS E"m
. Professional interests News over ths
eek and recess was mixed but rAE,.E
sort 10 invite an extension or mo
lhort account.
The foreign situation pC"HoNed h''E-
hess among international curren'''S
nd domestic conditions suggested tNE'H
r easement of the recent broad invest
zhent INQUIRY from Out-of-tOw0 sources
Industrial developments were conflict
hK Three of the largest oil producing
Ind refining companies posted h!EA''
bricss for gasoline and bunker OIL wn'te
bharp reductions were announcer III
Your we'll known types OF automo plies.
Middle west railroad tonnage exceed
ed for the most part the movements OK
last wears corresponding period ana
Eastern traffic returns were talF.E Ar~'
tn the exception Of coal hautIhES.
Domestic oils and Mexican petroleum.
C
|hunior rails yielded most easily :" in'"r'
nittent pressure S,scls afforded m"dsr
'ate resistance but ultimately CAV" Way
7U. s Steel forfeited most "t last sat
urdayNs substantial gain and k"FC'!
land Vanadium were among the o'Ret
heavy issues.
New Haven was the ono active S'"NN
no run counter 70 the general trend U.s.
fng to the years best quotation "R'n
|the general list was most c"ntuS'u.
Iroalers help 10 sustain the market. win
Ia few miscellaneous Srct.aNi'eS' 0ut
heavy tone ruled at the close.
ignoring last Saturdays tdVoTaoLH
hank statement money rates showed
HIneYpectcd nrmness The four percent
opening quotation for call loans re-
manned at that price un;N just before
the markets close when a. Dercch;
was demanded Of bcated borrowers.
Demand sterling fell 20 +i3S or y
cent below the record quotation OF tAe
previous. week Allied EXCHANGES ;"..
10 poin,s but the German RAJ" lost
lanly a fraction. European countries
Including Swcdeu and Switzerland 'aSed
5sympatheticalIy and III" Czecho-S'"Na-
'kian remittance was more than /"
points under its quotation o, last r.'"S
Liberty Bonds Stable
Guided almost enl!Et,E ~ t''r '''S'-'
or reac,ionary tone of the stock list. to-
DAYS bond market developed Irregular
ity on smaller and less diversified deal
ngs. r.,o-.r
issues were most stable. majority o.
that group making gains on the DAY.
French governments showed hrmneSS'
but Wrench municipals. Danish muni'i-
pals. United Kingdom SIS. Dominion
OF Capada's SIS Mexican As and IS ana
chinese Railway IS. contributed TO the
lower trend of lntcrnatons.
Mixed changes ruled among domestic
rails but a few Of that division dis
nIayed marked strength. Aside from
the six percsnts. New Haven bonds were
not especially responsive 20 the rise N
the common shares.
Country wide distribution by Syndi-
cate of bankers Of the $7J.N"o.nnN FEEDER
al land bank ~ percent bonds was re-
ported 70 be progressing fIy"ra"'y. =
Total sales OF bonds 'Ndr value az
gregated Sl5.043eoo