, 1922-09-08
SHORTS COVER,
STOCKS HIGHER
Investment and Speculative
Interests Active on
Buying Side.

NEW YORK. Sept. s-Nervousnes'
Of short interests causing them to OK
for stocks in c-ompctticn with invest
ment buyers and speculative Interests
on the long side caused a remarkabl'
rise in many sections OF t0day's stocs
list. Gains IN one OF the specinide'
ranged from 8 20 Is points Subsfan
tiai progress also was made by mos
Of :he standard shares Sales approx
mated 100000 shares
IuG,-stions that the bear position
Ind become ~untenahia provided the
stimulus for a further rise in spfsiA'
stocks IN h final hou shiprtngs
and low priced rails. who had been
laEEarA IN early dealings were pushed
M with the rest OF the list. A Few
Of the strong spots were Tobacco Pro
ducts preferred. Dupont. Postum Ger
cal and Delaware and Hudson. all At
sains OF Z 20 Il points. Republic
steel was heavy. falling back 2 points.
This closing was strong.
NEW YORK. Sept. S-Continued
PROVEN In industrial and ran
road strike situations was reflected
IN the strong o n Of prices AZ the
opening of today's stock marSe New
high records for the year were estab-
iished In the first few minutes or
trading by American Wooden, Retail
stores. Pullman. Norfolk and West
ern, Dupont and Union Bag nv Pa
per. the gains ranging from l 70 J
points. Equipment stocks were in
fairly good demand. advances Of ap-
proximately = point being recorded by
Baldwin and Lima Locomotive. Tn
der the stimulus of resumed dividend
payments. Stromberg Carburetor was
pushed up moro than a point and a
haif. Mexican oils recovered from
thelr recent ~hoaviness, Mexican Pc
:roleum mounting TO a point in the
first few saIes Advances in rail
shares were largely fractional, the
leaders being Atiantic Coast Line.
Rock Island and New York Central.
Substantial Improvement was noted in
international Paper, Houston OIL.
General. Asphalt. mexican Metals and
Consolidated Gas.
Stocks were bid up IN spirited fash
ion during the morning the rise extend
ing over a broad list which pressged
total sales g well over n million
shares. Relatively easy money rates
and indications OF improved business
conditions as reflected IN the smallest
number Of weekly commercial failures
today also contributed 10 the more
sentiment. OILS, equipmC IS
and VI accessories shares Were
particularly prominent. gains Of from
? to nearly 4 points being registered
by Standard Oh of New Jersey. Pull
man. Baldwin. Railway Steel Spring.
Body. international Harvester.
Dupont. United Drug, Central Leath-
er preferred and Lorillnrd Tobacco.
Mexican Petroleum's gain OF more than
az poiHts accompanied reports that
the company was constructing two
plants in Mexico for extracting gaso-
line from natural gas. Call money
opened n renewed at four per cent.
A series OF spectacular advances dis
the afternoon dealings with
tho tobacco and c%oalers, the features.
United Cigar Stores jumped % points.
and Hudson 11is; Jersey
Central 6%; Liggett Myers 8; Mexican
Petroleum Az; Kelsey Wheel 4; Della
ware and Rresge 3& end American
Sumatra obacco. American Hide and
Leather preferred and willys-O Overland
preferred , to 81; North American
a sudden dip OF 3ts but soon
up its loss and another point be
Western Union fell "a points.
7