The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-12-27
F|RMNESS MARKS OPENING Of
{. DEALINGS IN NEW YORK STOCKS

New York, Dec. 2S.-Stock prices
iltperally exhibited a firm tone at 'hc
Beginning OF the closing week OF toe
year. Except Tor All advance In crude
oil. prices In the Wyoming acid. there
Nere no particular outside news deSc!'
)cpmsnts to account sor the rise. the
buying reflect'nS speculative confidence
In business conditions during the FIRST
mart OF next year and aggressive pool
operations IN special shares.
Studebaker was one OF the individual
features. establishing a new peak price
for the year at 1909. but reactins n
point on profit taking. the net Gain on
tho day being 3is points. RuyinS of
atudsbaker and ether motor shares ap'
p9Sently Was In anticipation Of increas-
Cd sales following tho winter shows
which begin IN this city neat month.
3tudehaker sells ex-dividend % per cent
u stock on Friday.
Msv High Records.
New high records for the year asa
Vere established during the session by
Pend Creek Coal, which Is negotiating
With Henry Ford for the sale OF some
os Its Kentucky coal properties: Stew
art Warner, Stromb+rE Carburetor and
Jndicott Johnson, buying Of the last
named being attributed to expectation
OF q stock dividend early next month
On tho other hand, Marine preferred
which recently cut It's dividend In half,
established a new low record at 4SE,
a compared with the years high or
S7x, and closed at AK for net loss
} Of tx points
Baldwin was bought heavily on apcc-
Nlative expectation that the yearly re-
port viii show tho COMMON dividend
fully earned and s.zeabie sum Carried
to surplus. The stock touched 1856 y,
. new high on the movement but reacted
TO 1AS on profit taking. StromocrS
closed hearly fve points higher. an
nouncemeut Of I proposed. 100 per cent
increase In capital and declaration or
Q stock dividend being made after tha
market closed. otis Elevator dropped
two points on official denials that the
company proposed to split up ita COM
mon shares on 4 four to one basis
AmsR1eaa 1lxAr Strspg.
American Sugar stocks were strong
despite announcements OF cut In the
refined product by some OF the larger
companies. gains OF "a points each be-
iny recorded by American Sugar and
American Beet Sugar. Higher prices
for Wyoming crude oil found reflection
In Pacific Oh. Phillips Petroleum..
Producers and Eehnera.
California Petroleum dropped nearly
three points.
Some OF tho individual strong spots
were Burns Brothers \, Chicago Pneu-
matte Tool. General Electric. Pigglsy
w,gxley aud Wells Fargo. the gains
ranging from two to four points. Fisher
body broke l0l points on short sell
Ing and Allied Chemical yielded lG In
response 10 speculative disappointment
ever the failure OF tho directors 10 IN
crease the regular 81 annual dividend
rate at today's meeting.
Rail shares moved N conflicting
manner. Reading. New York Central and
louisville & Nashville recording mod
crate improvements while st. Paul COM
mon and preferred. and Lackawauua
we're re4ctlonary. the last named drop
ping nearly three points. November
earnings statements published thus far
with tho exception OF Lackawanna. ocn.
pared fayorabiy with those OF Sovem-
Der Of last year.
Cali money opened at "A par cent
put advanced TO ) during the noon hour
and thence TO 6i:. where Il closed
There were no changes in TINA money
ana commercial paper rates. business
IN each being dull. With the London
markets closed because OF the boxing
holiday, business in foreign exchanges
was quiet with no important changes
In rates