The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-06-14

New York June I3-The stock market
today made general but only moderate
recoeries from the preceding days
severe depresston- In few noteworthy
Instances chiefly rails. the rebound car
rled prices close 10 last weeks final
quotations. Prices were extremely
unsettled in the frst hour. that period
witnessing a further extensive wedding
out OF margincd or speculative hold
InSs At additional declines OF ! 70 3
points
Thereafter the tone was more stable
on a marked reduction Of operations.
Altogether the course OF the marke:
seemed 10 justify the opinion prevalent,
In many quarters that the recent liqui-
daeion had created stronger technical
conditions.
Tor Conservatism
Stock exchange officials refused 20
discuss reports dealing with that inst
tut!ops latest policy OF conservatism
/, is understood. however that the ex-
change has the cooperation OF the banks
In It's erfrts 10 gradually eliminate
reckless speculation.
OILS, steels. motors and the better
grade OF rails reflected substantial sup
port In the last half OF the session,
some OF the equipments. shippinss. tex
tiles and chemicals also sharing in inc
stronger tone.
Many Good Gains
Net gains OF one 10 four points were
scored by Mexican Petroleum. General
Asphalt. Sinclair. United States. Cruc-
lble and Republic steels, Studeoaker and
Maxwell ~" and 81 issues. Baldwin
and Lima Locomotives. American sugar,
Corn Products. Dawson Chemical. Read
Ing. Southern Pacific and New YORK
Central. Sales amounted 10 l.3OO.OO0
shares Yesterdays low Sate OF "a
per cent for call loans was not repeated
the quotation opening and holding al
q per cent until the Anal half hour when
Az pe- cent was demanded. This slight
s,iceninG was regarded as natural. in
view OF tomorrow's heavy withdrawal
OF private dc posits 70 meet interest pay
ments maturing the middle or the
month.
Sharp reactions occurred throughout
the foreign exchange list. sterling again
reacting ga cents TO Ash for demand
bills. with declines OF TO IL points In
allied rates and 3 TO almost 10 points
In neutrals.. Evidence OF the more ser
ions economic strain in Central Europe
was found In the acute weakness or the
Austrian remittance. that Development
following the suspension OF operations
on the Vienna stock exchange.
Bond Market Steady
Following the trend OF the stock list.
dealings in the bond market today were
smaller in volume but stead!er Of tone.
Among the few features OF more than
ordinary interest was the new high rec
ord Of SlooIS made by Liberty 81 $,
others OF that group closing at nominal
changes.
Mexican governments again gave way
regardless OF statements that salts
factory settlement was hoped Tor IN >e
pending conferences respecting thar
oountry's external debt. French gov
ernments and mun!cipals also eased
with Toxic SIS.
Gains exceed declines amaTg domes-
tic rails ard induserials, the stronger
features including Southern Pacific col
lateral As: Minneapolis & st. Louis 4s;
Chesapeake & Ohio convertible AIS
and SIS: Eric As; Missouri Pacthc IS
and International & Great Northern ad-
JustmentS
Losses Of fractions TO one point were
sustained by Chicago & Alton 3la's. ST
Louis & San Francisco incomes, New
Haven As Of 1856 and the deoenture 6s
Peoria & Eastern Illinois incomes. Chile
Copper SIS and rs. and Cuba Cane Sugar
rs and SIS
Several new undertakings. all FOR
moderate amounts. including City OF
Syracuse s925.o00 loan. were readily
marketed Total sales. (par valued ag-
Eregatcd SlS,739.999.