The Washington herald., 1922-12-13
SPECIALTIES IN LEAD
AS STOCKS ADVANCE
AT SHORTS EXPENSE
Gains Range from One to Two
Points-International
Shares Prominent.
By BROADAN WALL.

NEW YORK, Dec. 12-Stocks
were advanced again today at the
expense of the short interest. SVe-
cialties were most prominent and
net gains ranged from one to two
points. Increased dividends and ad-
ditional stock dividends continued
10 stimulate dealings in interna-
tional shares. The transportation
group showed irregularity. Great
Northern preferred headed this
class with a rise of two points, due
TO semi-officiaI statements that the
regular dividend of Sz per cent
for the six months would be de-
clared on December IS at st. Paul.
Coppers were fairly active with
considerable attention being paid
to- Cerro de Pasco which sold at a
new high. The company's convert
ible s. per cent. bonds also made
another new high level.
MONEY MARKET.
The prospects of easy money
rates despite big shifting of gov
ernment obligations found reflec-
ton in a decline in the call rate
from Al to 3& per cent. Foreign
exchange for the most part adj
vanced. with sterling cables moving
TO a new top figure for the last
three wears. Publication of the
agricultural bureaus figures on
cotton production was followed ny
q sharp rise In that staple. Wheat
rose about a cent a bushel.
Persistent absorption Of II. II.
MIallinson caused a rise of more
than two points. the final figure
being the best. The action of the
tape would indicate that these Deo-
al IL, . H. -Fn N
the last month because of the
steady expansion in earnings.
Rumors~ had it that Simms Pc
troIeum would be listed late tOmor-
row on the stock exchange. \ re-
duction in the price of. Smackover
Crude caused some selling.
Another new high price was
established at the expense of shorts
in Piggly wiggly.
L0W-PRICED MOTORS.
low priced motors shares as
sluned prominence under leadership
OF Moon Motors. Buying Is in an
ticipatio Of a doubling Of the divi-
dend at the next directors meeting,
scheduled for the latter part of this
month. The company has 5000
shares Of per cent preferred stock
vhish is expected to he retired
shortly. IhlS S3OO.nbO Ol l1eltll'h
represents the original investment
in the company by the Moon family.
EarninE< this wear. afi"r liberal
write-offs and all charges. will he
close TO s. a share Sufficient bust
moss has been booked for u-Xt year
tn lead the mana cement to look for
earnings of about $40 share.
Announcement of the proposed
issII.. Of 20 900 shares Of preferred
stock by the Continental Can Com
papN was accompanied ny strength
In the common shares.
Gossip on National Lead looks for
q 100 per cent stock dividend and
the payment Of dividend ui ST.
share annually on the stock. Talk
Of an Increase in the Peoples Gas
dividend was revived. 4. =. Indus
trial Alcohol was bought ors rIImors
that the company would join the
list Of dividend payers in the spring.
Mack Truck declared an initial divi-
dend Of 81 share on the common
stock
Beechnut hit a new top price.
Tho Street looks to NJ" Now York
Central directors to raise IN" divi-
dend tomorrow TO at least Rer
cent u is now paying =. bIs.,p-
poiniment over the failure Of the
Texas Company to- declare 4 stock
dividend was registered in hcavincss
OF shares
New high records for uitod King
dom bonds. due 1929. and CerrO De
PasCo convertible bonds featured a
strong market.