Norwich bulletin., 1922-08-31
FINANCIAL AND COMMERC|A!
MARKET CONTINUED STRONG
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MAhhET CONTlNuED OChONG
 New York, Aug. so.-A7tive and wide spread public participation, apparently in- duced by marked improvement in the in- dustrial and railroad strike situations, was largely responsible for the continued rise of prices in today's stock market.
 Floor traders and professional specu- fators were inclined to be bearish, but the flood of outside buying orders scored many shorts into covering, which accel erated the advance. Nearly two score is- sues established new peak prices fo rthA year
 Reports of increased car loading, in- dicatiens that bitumfnous coal produc- tion was nearing normal and expecta tion of unprecedented freight traffic this fall resulted in broad inquiry for the standard rails Canadian Pacific was especially strong advancing 2 1-2 points. with gains of point or more being re- corded by Atlantic Coast Line, Chicago and Northwestern, Illinois Central, Iouis- yilleand Nashville, New Haven, Heading second preferred and Frisco preferred. Renewed hopes for an early settlement Of the anthracite strike also imported nuoy- ancy to the shares If hard coal carriers, especially Lackawaana and Lehigh Val ley.
 Chicago and Alton issues were under pressure because of disqIieiiag reports | concerning impending re reorganization. The common recedee 1 5-s points and the preferred dropped 5 5-S.
 Independent steels. also sufsre1 q Se- were setback upon circuiatiln af reports that the Federal Ira le comm: ssion was about to render an Infayosapls decision on the two pending indAper lent mergers. | but later Washington advices indicated that no complaints had been fle1 agalnst 1 the proposed Midy;a,e-Inland-R Republic combination Republic Steel closed with net loss of Is points. ackaeVanna was off a point and Midvale Is, United States Steel closed fraction ally higher on a fairly extensive turnover. Sales man. agers of the steel corporation are now in session here and Wall Street expects an announcement of higher prices upon the return to this city, next week of Eloert H. Gary, chairman of the board.
 Public utilities issues continue to bt active participants in the upward swinf of prices. Several high records for tht year were made in this group notably py Detroit Edison, Brooklyn Union Gas Columbia Gas, American Telephone, Pa cific Gas. Montana Power, and Macka. company
 Endicott Johnson advacned nearly
 points today in expectation Of extra div
 idend disbursements when the director
 meet on Thursday. Pestum Cereal estab
 lished new high price for the year ci
 reports of increased earnings. Unite
 States Cast Iron Pipe broke over 2 point on the announcement Q: an official of tn company that contradic.ed current re
 ports of substantially improved bushes conditions.
 Total sales approx:nated as7.Go shares.
 Call money open4d and renewed a
 S-4 per cent. but hardened to an thence to 1-2 in response to tne de ; mand for first of the mcn-h requirements . Outside" call money was quoted as hig ; as per cent. Time money rates continr 7 eG unchanged with listle business bein I transacted.
 Foreign exchange rates opened weak q
 the result of unsettlemer1 in foreign ce- i, ters. but they steadied in la-er tradin There was sharp break il Germa . marks in early trading, but they recover
 ed later with the rest of the list. Dt
 mand sterling was steady, while other a f lied rates showed fractional improvement ! Canadian exchange touched par today fc
 the first time since August, 1915.