The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-10-11
Financial
NEW YORK TIMES.
sal

New York, Oct. lO.--The action ~
today's stock market WAS just nbout
shat might have been expected fol
lowing such an upturn IN stocks rs
took place on Mondny. Heavy buying
orders crowdlng In AT the Dp1nipg
brought about advances IN initial
prices and there was n further 40.
turn during the first hour, which car.
ried many ~ the issues which hnd
been In The. speculative limolIght, 10.
new high levels When the mnrkei
was called upon 10 face heavy rsaliz
ing, however. prices broke sharply
and not y NV stocks lost from frag
tloDs 10 az high ~ 10 and ~ points.
Al the close there was decided irrcgu.
larily.
such dispisT vas tne natural Oui
RfaBih ~ market winch. % MONDAY
lent itself 10 Vide speculation based upon
nothing m0ra tnnglbif than what mlKht
ordinarily nave hran taken ~ ridiculous
tDnof itufins Tho Opefinf Jay ~ the
week report that lrglslsiiqn might bs
enacted ~ Warrington, Niich would raj
fof q heavy tak 90 The nurplua accounts
~ oOfpofatlpnn waa ne hsnsl for huayg
speculative bUylnz IN the hlocbs ~ h0fa
companies which are Known 10 have lsrss
having worked It's VIII On he marhtt
10 ~ eatsnt TINT WIS hardly 10 BE- be-
lisved the Inevitable profit taking came
into play snd with no aufficient demand
10 absorb Offerings tho prices ~ inany
issues gave wy 10 what nss almost ~
abrupt decline,
Prices Not Uniform.
~ wss noticeable 40 tbs daY pro
crossed that tho course III prices was not
by sny means uniform NJ related ~
stocks within the Ynfl0ns popular sfoUp.
lnEs aud Iiksuiss u pas true that
sharp rise Of earlier days Was not pocss-
ssrily the forsfnpnfr " decline today.
This wss svidcngsd ~ The case " Ger.
tain NJ the standard on stocks, standard
shsr having cfossed Into new hlsb at
zb0H. on tho 0tbef hind Atlantic Re-
fined which bsd gained ~ points ~
Monday broke IT. quotation W ~ ads
day 17ik This eould be, IN part. a..
counted for ~ tho fact that standard
Oh " hew Jersey ID moro available
means for speculation han Atlantic Re
filming. However,, while tho thsfes of he
Nav Jersey COMPANY. wofs declining the
stock Of another OIL company, Mexican
Petroleum. without nny definlte news ~
far ~ tbs market yes concerned, uads
net advance 81 ~ points and NJ one
time s0ld above 200.
aVUpsV sVUV"eS sN'''"NV-s
Ths most noteworthy development Of
a constructive character with relation 10
the days news WAS the announcement Of
the untitled tonnage on the books Of tho
United states Steel corporation ~ the
close ~ September. The increase amount
~ 10 7i 500 tons. bringing the totsl for-
ward business up 10 C,sei,6G7 tons These
figures we're made public ~ ~ 0'ei0ch,
but hardly lived ~ 10 the expectations
Of the financial district There had been
some discussion On Monday 10 tho effect
that the steel corporations business would
probably show an increase IN oHcefs Of
! 900, 900 tons and thus wall street could
find some basis for dissatisfacti0B. There
IL this 10 be e9id. h9Yeyer. that the pres.
INT Increase IN forward business Of the
steel corporation IL tbe largest recorded ~
any month since December. 1912 Also u
Ia true that the present total ~ forward
business II tho highest since February.
1921. Ths record shows concjusyeiy tho
advantageous position IN which tho steei
arc finding Themselves ~ 10
probable that the failure Of untitled toD-
pGgo 10 reach tho mlill0D.tob advance
had been expected.