The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-07-06
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DlY's TRADE

WI p !!
n S1JA1T :. WEST.
YoFk, July e.-IAs sock
1pday gsys asits ths n4at
tseing exhibition Of strength
has q any tima sines the
aIaca of the spring advance.
2ine became considerably more
-. and the upward movement
S;sssei az betng confined to COM |
stivsly few stocks. spread ont
soneh yretty much the entire list.
ssmrch q the market on We'd |
ssday had paid NO particular heed
M favorable Developments In
q r1ifvsy strike situation. there
- = reason for regarding this
- "a leading influence in the rise
Sssr The market went higher
~ because last months ~
s1isn had gone far enough to set
~ wan street house in order. The
1softant holdings distributed At
~ high levels Of April and May
~ bean probably replaced. A
- interest had been created.
Il vas the realization Of the much
1rrroyed condition within the mar
~ itself that counted most in the
- price movement. Once the
80 list threw on the hesitating
neearance which It had worn for
~ last week or SO, and definitely
n,ted forward, short sellers has
uaed to take their losses and .
p Of fresh buying came in from
oople who had been holding off
Epaiting for the real trend to be
hown.
with the exception Of the Mexi-
In oils in which there was some
nlling for q time, all classes Of
|fpcks moved forward. Rails took
r. lead, following Louisville and
]hahyille, which was bid up sharp.
N expectation that Official ap.
npval would be soon given to the
aock dividend plan originated II
LILY, 1921. Atlantic Coast Line q
la owner of the Louisville major
IHr stock, naturally went along. II
ID other representative DIVIDEND
Inyers, there were numerous ad
Muces Of point or more. Whil'
}tAsre was nothing new or unex
Dscted in the fact that every nov
Ind then saltwater appears il
llAxican oil territory. 1t is . goo,
associative excuse for the moment
La the one hand, for selling tn
1Nexican oil stocks and on the othe
ffor buying the shares Of who'll
! 1American companies. Thus as Mex
Han Petroleum and the Pan-AmeE
Iicans went down, the Standard Oil
nsnd other American oil shares wen
Nsp, some of them quite rapidly.
Both Copper and Sugar issue
ior their advance had legittmat
treason in the improvement With
their industries. Belief in the earl
Nsettlement of the coal strike wa
sfexpected not only in higher price
uof the so-called coal stocks but i
. better market for the steels. Put
Tic Utility stocks were conspicuou
agah, especially Consolidated. Ga.
nC0fumbis Gas and American Water
works and North American.
German Marks sank to q ne,
hw and it was again significant {
the close relationship between tn
two movements that as the mar
went down heavy pressure was r.
newed against French francs. A
the low Of the day the latter wel
hack almost to where they were |
January, virtually the entire year
Improvement from under s cents
As7 had been wiped away. tn
PERSISTENT weakness for the Ia,
hw days may or may not have
hsaring upon the July installmei
d German reparations due on ii
18th.
Along with the revivins activit
, In stocks, went q similar increas
n bond dealings. All the libert
ssues reached new highs for Il
. ysar and railway bonds wei
I scarcely less q feature in the ma
lsh Of the day than were railwa
; 4 sacks.
The remarkable advance in L.
n and A. c. L. was still the mo.
z Important incident during the at
, efnoon. 1t led to q general VI
I aading Of the higher priced div
, tend rails in the course Of whie
= stocks were Union Pacific. Norfol
and Western, Atchison and Ne
iork Central drew well up to the
! ut prices Of 922.
Can stocks came in for attentic
n the last hour and so did Int
rational Paper, which was inf
eaced BY an advance Of IS q ton
aev1print. the first increase sin,
Ne beginning of the great declii
, year and half ago. New Have
~ . favorite among the 10
! ftcsd rails and. American Car Al
foundfy. Baldwin Loco and Pull
IAN among the equipments. tt
nsction continued in the colt.
nafket following the report of Il
vsaAsr bureau which showed n
sally favorable growing cond
uuaf over al but q small section
g ioutheast European bar
. Geents were scarcely Of mua
Isnleance in that the chang
~ merely the temporary effe
mid-year settlements. II
1aak OF England ratio came dow
: ron !S.b2 to 1909 per cent and d
sacA Bank circulation had
y Moderate increase.
Liberty Bonds