The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-09-06
INDUSTRIAL SHARES LEAD AD-
VANCE AT GAINS OF ONE TO
FOUR POINTS
HrIsk Demand Is Shown For stoei
share-Norfolk western Registers
New High Price In outsursts
OF Activity.

New York, Sept. 5.-Se;tlement OF the
hard coal strike impaired a huoyant
tone Of prices in today's stock marAS,
industrial shares leading the advance
ut gains OF l 10 4 points. PROFIT taxing
and short pressure against a few stocks
Mn a weakened technical position gave
SSe market an appearance OF rresn1a
lty at times.
wall streets belief that the indspen-
sent steel mergers would be carried 10
completion. despite the ruling OF 'he
federal trade comiSsion that they were
Illegal nonopol!es. found expression IN
the brisk demand for steel shares lte-
public Iron and Steel closed at q mex
gain Of nearly 3 points while CrucioIe'
Bethlehem B, and Gulf were up a point
or more. Norfolk and Western climbed
70 a new peak price on reports or the
possibility OF an extra dividend, now
that thu soft coal strike IS over. ROCK
Island also registered a new high price
IN a sudden and surprising outourst or
activity. but Il forfeited most OF Its
gain before the close. In sofar as the
hard coal carriers were concerned, the
settlement OF the strike has been largely
discounted. such roads as the Lacka-
wanna, Lehigh Valley and pennsylvania
showing small fraction al losses.
Gain IN Mexican Petroleum
6uNlUK Oh phCNlSoAA L
r~1uctuated within a range OF 1point,
and closed at a net gain OF Ia. was
attributed In part TO short covering
operations Publication OF the Mexican
debt agreement also was regarded as a
favorable influence. The regular quar-
terly dividend OF So on the common and
Sc on the preferred was declared today.
as were the regular quarterly dividends
OF $3.50 on both classes OF the Fan
American parent company. Mexican
Seaboard issues were Te~actionary on re-
ports Of heavily decreased production
Indicating further s~hr!nkage OF the To-
teco pool. Royal dutch. Standard or
California and Barnsdale IS were all
strong.
Cooper shares moved into higher
ground under the leadership OF Utah
and Anaconda. The regular quarterly
= meeting OF the Keuecot Copper company
directors. scheduled for today, was post
poned until later in the month because
OF the lack OF : quorum.
speoialties Reach New Level
Several specialties were bid 10 new
nigh prices for the year IN gains rang
ing from | 10 nearly 5 points. notably
American Wooden. l. s. Realty. Allied
Chemical, United Retail Stores. Fam
Gus Pleayers. American Ice and Bald
win.
Total sales Appropriated 100000
shares.
Call money opened at AZ per cent
and held steady at that figure through
out the session Time money was slight
" tarmer. due TO first OF the month re-
Qulrements.
Foreign exchanges were irregular
British and other allied remtttances de-
cl'nlns slightly below Saturdays quo
tations. The weakness in the Italian
rate was attributed TO the financing
OF grain shipments from this country
10 Italy. Hungarian crowns fell to a
new low Of .o4i: OF half n cent crown,
while Czecho-Slovaktan crons showed
substantial recovertes from last weeks
reaction. German marks sold around z
cents 4 hundred. as compared with tho
extrems lower record OF S cents.