The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-03
SHARP ADVANCE
FELT IN STOCKS
News Of Proposed Truce
in Near East Cause
of Upward Move

NEW YORK. oct. "A sharp ad-
vance IN prices took place IN today
.t..k market on receipt OF news that
,,. TtrIiIsh and Turkish commanders
ip me near east had agreed 10 meet
st "A true, tomorrow. professional
'r.rf interests. who had sold stocks
DOH. last week on the dlsquieting
,,r,.rp aispatches, hastened TO cover
ar1 their demands coupled with
tln.e Of traders, who had Kept out
80 t,e market until the war clouds
srparently passed. most active
months registering gains OF from !
t0 nearly points.
The advances were spread over
most Of tho list but the largest gains
also were made by speclalties,
ratii,ularly OIs Elevator. which
,,Ts mn 2 points, American Linseed
up ~. 4. Electric storage Battery up
al. and Wells-Fargo Express up
~.
Hathlehem "B," LacSawanna and
N'lyaIe were pushed up more than
roints United states Steel com
mon moved up Is and Republic
"a ,,
Strength OF equipments was based
on additional large orders from the
big railway systems, the orders now
ON the books OF the Baldwin, Ameri-
can Locomotive and pullman COM
Yonies being reported as more than
ibroe times as much as January ].
Three stocks registered gains of from
"a, 10 24 in today's trading. Mex
iran Petroleum. which was under
trasFuro last week exhibited
marked reversal OF form today,
4howing net gain OF 3h points.
Standard oil ot California moved up
~
AJorsev ~ despite announcement
OF a cut OF 2 cents a gallon for gas
oline in the Carolinas by the New
Jersey company.
Railroad stocks appeared to have
shaken off the dampening influence
OF poor August earning statements,
Canadian Pacific heading the list
with a gain Of 2M points, Several
others moved up a point or more,
including Atchison, Northern Pa
Cific, New York Central, Southern
Pacific and Union Pacific.
sugar shares made a good re-
sponse to the advance in prices for
the refined product, American
climbing 2N. with smaller gains be-
ing quoted in Cuban, American and
Cuba cane.
can money advanced to per
cent. where IL held until closing.
The time money and commercial
paper markets were quiet, with
virtually no change in rates.
Foreign exchange rates strength
ened In tone in response TO the more
favorable near eastern news de-
mand sterling showing gain OF
nearly | l-2 cents. German eX-
changes were heavy. marks being
quoted at l-2 cents hundred
against 1-2 on Saturday. Canadian
exchanges quoted at a premium OF
1854, the highest in recent years.
Bond prices made a brisk advance
iD t0d3y's market on the strength Of
more favorable developments in the
near cast, most OF the demand. how
ever coming from speculative in
terests.
Argentines IS led the foreifn
group with n 2 point gain. Advances
of 10 ! Ia, however, were made
by Belgian 7 l-2s. Parls-Lyons.
Mediterranean 6s Czecho -Slovaklan
sa aud Bolivia Ss. The G per cent
issues Of Bordeau. Lyons and Mar
settles each had advanced / l-2 In
the early trading but forfeited all OF
their gains before the close. Brazil
l-2 certificates fell back 3 1-2
points, apparently I'm response 10 the
withdrawal Of syndicate support.
Speculative Industrial liens out
bhone the second grade railroad
mortgages for the first time In sew
eral weeks Other strong spots In
thelr division were Derry rs, Armour
at l-2s, Wilson convertible 6s and
PRODUCERS e Refiners SIS with war
rants. American Cotton OH ss were
helyy slipping back / IL points.
The rise IN the railroad group was
l'd by Chicago Great Western As.
Wni'h Improved l ID points with
sightly smaller gains being noted
IN -. Paul convertible LES and
refundIng 1-2s. Chesapeake g.
ONO convertible IS. Chicago e. Alton
49, Seaboard Airline refunding Gs
ana Kansas City Southern 5s. Atchi-
son convertible As OF 1860 dropped 2
points
Liberty issues were slightly
higher.
$4,000