The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-06-21
MEXICAN PETE
+, STAR IN STOCKS
Session Active, Strong;
Market Makes Advance
Over Last Week

KEW YORK, June tO.-Mexican
Petroleum again was the star per-
torr.pr In todays active and strong
s,n.k market II made an extreme
ADVANCE OF ~ points with a not
g1in m 9i4 or a total OF 23a. points
above last weeks firal price.
kt times traders seemed to regard
the .,'raordinary operations In Mex
icen Petroleum as something OF a
menace to the general market. In.
,ir,ltIu1 Of n corner" were secuted
boValer. the opinion still prevailing
that the movement was mainly lev
seled Igainst an extensive short In
terHst
other oils in the foreign and do
nestle groups registered gross ad-
varacs Of to almost points and
the independent steels were equally
strong with a sudden burst OF ac,iv-
nv a. higher levels for United States
steel ~ the final hour.
Next to oils, Studcbakor was the
leading stock, its net gain Of 6-S
points TO the years high record
being associated with rumors of in
creased or extra dividends in the
near future Baldwin was foremost
among the equipments on its gain
Of I 3-S points.
Rails Jagged until the latter part
o. the day when news OF the declara-
ton # the regular dividend on Great
Northern caused hurried buying of
that stock at a gain OF 3-S points.
Northern Pacific advanced 24
points and several coalers and
trunk lines, especially Reading and
New Haven, strengthened subse-
queHtly. Sales totaled 1.05O,O0O
shares.
Developments which accelerated
the days upward trend included
vigorous rebound in leading for
e.gn exchanges advices from the
middle west that steel and iron mills
were running behind In deliveries
and declaration of initial dividends
on Ntrland oil.
The money market followed yes
terday's course save for the free
supplies Of 80 and 9O-day funds.
CAL money eased from 3 to 2A per
cent Mt midday and private offer
ings of this character were reported
al y per cent
The rally in international cur
rency carried sterling bills fully ;
cents above yesterdays lowest quo
tAuu1s while recoveries of / s to 22
points in French, Italian and Bel
gian remittances more than effaced
their losses OF yesterday and last
Saturday.
The trend Of prices in today's
boni market was mainly upward
but dealings were small and irreg-
uiar compared with the breadth and
strength manifested by the stock
list
Liberties were steady during the
first half of the session bur mod =
crate losses predominated at the
end.
81. PAU convertible AIS ST.
Louis and San Francisco adjust
meht Us, Oregon Short Line refund
Ing 4s and Scaboard as and 5s
strengthened. First mortgages of
the leading systems improved later
on the rise of stocks of that class
which followed announcement of the
payment Of the regular Great North
ern dividend. Marland oil issues
among the strongest features of re-
cent days reacted on the news that
common stock had been placed on
a dividend at 81 annual rate.
io,3I Sales par value. aggregated
NI5S1,U0O.
New underwritings aggregating
ao'ut Sl1,0OO.OOO were offered and
IeauiIy marketed. or these the
most prominent was the $4,000. 600
s,ije OF North Carolina AZ per cent
n'eu way bonds, sold at price yield
'7 ue'"een 4.S5 and 4.4O per cent.