The Washington herald., 1922-08-11
GAINS OUINUlIBla
LOSSES ASIRItfS
REPORTS CONFLICT
Recently Active Rail Is
sues Feature, With
Marked Advances.

NEW fOhh. Aug. 1oy-tn Gp1ts
Of the mixed character Of the oav~
nevs Developments and the vary
ing Interpretations which were nut
upon the conflicting rsports a.
vances outnumbersd declines In the
trading on the stock exchange.
The volume OF business was limited.
however. and the most substantial
advances were scored by the group
OF rail issues which have been se-
tive at high prices all week. the
Northwestern railroad stocks. With
a few industrisls Influenced by spe-
cial factors Most Of the fr,uss
generally regarded as speculatfvs
leaders In both rails and indus.
trials were little changed.
Early Rans Lower.
The FIRST quotations TO appear ON
the tape after the openins Of tr.d-
ing on the stock exchange tn
morning were for the active r.fi-
road issues and in almost every IN.
stance the sales recorded were AZ
substantial concessions from IN,
closing quotations OF the previous
day. The appearance Of weakness
continued pntil near the end Of ths
first hour when the market CON-
pletely reversed its course and rav.
one OF the most remarkable DEM
onstrations Of strength seen this
year. Trading was still confnea
largely to the railroad issues, the
industrials being dull and irregular.
but the rails moved forward in i'm
pressive fashion. Among the stocks
which reached new high level. dur
ing this period were Pere Marquette
at 80. Chesapeake and Ohio abov.
IS. Great Northern above so, North
ern Pacific at s3h and Chicago ana
Northwestern at 81 and St Louis
Southwestern at 90. There wa.
strength also in Central, Pennsyi-
vibia, Atchison and the other divi-
dend payers. On the other hand.
the shares Of some OF the coal roads
sold OF. Norfolk and Western.
Delaware. Lackawanna and West
ern, and Pittsburgh and West vIr-
ginia were lower on a very moo
crate volume Of trading.
Strike Reperts Conflict.
News reports regarding the coal
and railroad strikes were somewhat
conflicting this morning and so far
as Information in the possession OF
the rank and file OF traders went.
scarcely seemed TO Justify the whole
sale purchase OF the securitiea On
the one hand the opinion prevailed
that the end OF the week will ne.
the settlement OF the coal strike IN
at least the many Of Important
fields and that the operator, IN
other sections who are inclined 10
hold out will be forced TO abandon
that position before many days On
the other hand. news regarding IN.
railroad strike was somewhat con-
used. and in well-informed quarters
the opinion was freely expressed
that the situation contained pos-
sioiiities which could not be looked
upon as other than disconcertine.
According TO this view, the rail-
road strikers have made up ther
minds that they are IN a position 20
force through another essay IN rov-
'rnment operation Of the roads.
No matter what action Is taken at
the meeting Of the railroad execu-
tives tomorrow the strikers have
made UP their minds to work for
this objective and all other issues
involved are now mere steppinR
stones to that end. Not oniy have
the shopmen come 70 this conclu-
sion, but they have brought the
heads OF the trainmen's unions 10
argument with their views. This
explains the change OF front on the
part of the engineers and other
train employees. who showed no .pe-
cial disposition 10 go out Of their
way to support the shopmea at the
beginning OF the trouble. but who
are now keeping the wires hot with
protests to Washington. Not onlv
that but. according to railroad Of
ficials. the trainmen have give,
much trouble during the PAST two
weeks in connection with operator
Of trains. =.