The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-09-15
GH0PMEN'S STRIKE SETTLEMENT
REJECTED ON STOCK MARKET
IArnRoAp ISSUES STRONG DE
SPITE WALL STREETS Pro
fEssED INDIFFERENCE
-NIrEp STATES RUBBER DROPS IL
POINTS BUT RECEIVERS TWO
THIRDS OF LOSS
DOMESTIC OILS SHOW EXCELLENT
CONTEMPORARY FLURRY
IN HONEY BATES

New York. Sept, t.--ENteH>,vA IN
,es.nent buying OF high grade railroa1
mares many Of which showed gains OF
me 10 three points. was the outstanding
development IN todsy's stock market
session.
Despite Wall streets profesreS lndit-
ference 10 labor disturbances the
strength Of these Issues was generally
ascr,oed 70 the reaching % a partial
strike settlement between striking shop
men and individual railroads.
Dpen!nE prices were generally hrm.
but reaction set in. especially In tns
Industrial group. following 4 sharp
break In United states Rubber arst pre-
fsrred. which dropped nearly IL points
before buying support set IN. The SUB
sequsnt rapid recovery. which wiped
out two thirds Of the loss, indicated
that the decline was 90 professional!
origin. Liquidation o. 1000 shares oS
small insurance companies accelerated
ths' action. which unsettled tho entire
list.
Buyinr Of A.chtsor by outsid. Inter
.s,s turned IN. course 0. the market up
ward again this stock touching l'sS.
a new high price for the year
New highs for the year also were
made BY Pennsylvania at ~, New Or
leans. Texas and Mexico at -. and Rock
island At Atty Union Pacific. Southern
Pacific, Canadian Pacific and New York
Central also made marked progress.
o. 8. Common Gains
United States common gained NEARLY
a point on announcement OF an Increase
or SO ton In the price OF rails and
Soma OF the independent steels. notably
Bethlehem and Republic. did even bet
ter
Some excellent gains we're again re-
corded by domestic Oils. lately asso-
ciated with merger rumors. despite tho
announcement Of the standard oil COM
paav OF New JERSEY that II was not ne
sotlatins for any Of the companies men
toned IN that connection. Cosden
climbed 81 points: Houston - and
Texas Gulf SULPHUR I Z. Mexican Fetro-
ieum see-sawed during most OF the ses-
sion. closing at a slight fractional gain
Columbia Gas and Electric. with a
gain II Ave points TO . new high. led
TIE advance In public utilities. other
strong spots In which were North Amer
lean. American Water works per cent
Peoples and Pacific Gas and Electric
with advances ranging from one 10 near.
u four points. Tobaccos were weak.
American Car broke three points. but
the other equipments held hrm at recent
high levels.
Total sales were approximately 1.loo.-
900 shares
Withdrawal Of ts.S0o.ooo FOR govern
nent account from local banks caused
a moderate furry IN money rates. Call
loans opened at four. rose 20 "A at mil
day and to Ave In the latter part ot
the session where they held till closing.
Time funds we're unchanged from re-
cent quotations and Mercantile paper
was bought by local and internal banks
., prevailing rates.
srner tone prevailed In foreign
rates ferings OF grain and cotton
bills against export shipments besHg
materially reducted. Both sterling and
francs opened weak. but recovered sub
stantially later. Weakness also was sp-
parent in some OF the South American
currencieA