The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-27
RAIL STRIKE
DOESN'T FRET
WALL STREET
nv STUART p. WEST.

wall Street, New York, June 81.
To-day was not a very important
aey in any of the markets. The
ruost conspicuous change occurred
IS cotton which recovered as sharp
flg as 1t had declined the previous
day. The foreign exchanges after
their recent fluctuations went down
considerably. The bond market re-
I tanned its advance of Monday, but
did little more. Call money re-
newed and loaned at 5 percent, re-
fIecting both the withdrawal of
funds by interior institutions and
ureparation for the July first set
4 tlement The tendency on the stock
exchange was downward, but on
: a relatively small turnover and with
no important weakness.
7 Railway shares as a rule were
!. inclined to work lower with the
! rest of the list, but it could not be
said that this reflected any seri-
5 Gus uneasiness regarding their
!, threatened strikes. 1t is conceded
that the vote is likely to be very
largely in favor of a walkout. 1t
[. il further admitted that the posi-
= hiIities are altogether that the de-
.sision to strike will be carried into
effect But the roads can easily
hire the unskilled labor done by
the majority of the maintenance of
way men. 1t is also quite possible
that with the labor party defying
its mandate the labor board will be
I. willing to help out the carriers by
allowing them to farm out, as they
are not allowed to do now, the re-
pair work ordinarily handled by
! the railway shopmen. II this hap
pens, the strike confined to these
two classes of employees. will
amount TO little. It will not seTi-
! ously interfere with train service
aud will do very slight harm to
company earnings.
Trade news of the day was gem
orally favorable but it had no in
fluence on the price movements.
Standard Oil of Indiana followed
the example of Sinclair Oil on
Monday by advancing gasoline
prices a gallon, but this brought
: no fresh buying into the oil stocks.
Steels we're equally unresponsiye
: to the raising of official quotations
2 on one or two important steel pro-
duets. The reason for this no
edoubt was that the higher priced
schedule reflects the growth of the
J natural demand than the fear that
the steel mills may before long feel
the pinch of the coal strike
Sinclair Consolidated Oil per-
2 cent cumulative sinking fund pre-
fferred stock has been admitted to
{ the stock exchange list.
An increase of II percent in car
loadings is reported by the Chicago
and Burlington for the first three
weeks in June. The number of
cars loaded was 100. 665.
The Ventura Consolidated Oil
fields declared a regular quarterly
dividend of so cents and an extra
dividend of so cents both payable
August l to stock OF record July
10
/ A rise of one cent a gallon in the
price of gasoline is announced by
the Standard Oil company of Indi-
ana This meets the advance re-
Gently announced by the Sinclair
company. Both companies have
advanced the price of kerosene one
cent The Texas Oil company an
! nounces that it will also meet the
Sinclair advance in gasoline
Moon Motors was not affected by
, the information that the company
! had placed a substantial order for
sedan bodies with the Ohio Body
company and that while it has
shipped so far this year about p
900 cars it is 1000 cars behind on
orders. This compares with an av-
erage output for the past three
years of 2,100 cars per annum.