, 1922-08-31
FLUCTUATiONI IN
MARKETS WIDE
Varying Tendencies Sway
Trading on New York
Exchange Today.

NEW YORK. Aug. si.-shifting ~
traders operations today from one
Eroup TO smother in accordance with
the varying news OF the day caused
wide fluctuations eithor way in a
wide assortment OF shares Confu-
sion of speculative sentiment was in
dicated by the contrary course pur.
sued by stocks of the same class but
the final dealings witnessed a moro
general trend 10 higher levels. Sales
approximate $50 900 shares.
Rapid bidding up OF Mexican Pc
troleum % a level more than ten
points above its lowest OF The day re-
vived the Tagging spirits OF the bulls
and there was a rush TO buy for
both accounts which carried some Of
the popular shares 70 now high levels
for the year. The closing was strong.
NEW YORK, Aug 90 Initial deal
inss were characterizal 10y a series Of
confused fluctuations. he unexpected
r~eceivership proceedings against the
Chicago and Alton railroad took the
edge off the recent bullish enthusiasm
and there was an inclination to take
profits in spots. However. the ad.
NAAAIANB INV WINS AA1 a'aAAAAA@As
checked. some Of the oils. public util-
tiles and miscellaneous industrials ris.
ing-strongiy. California Petroleum ad.
vanced w points and Famous Play
ers. Dupont Powder. United Retail
Stores. Twin City Rapid Transit and
Mexican Petroleum one t o Ia. The
opening transactions in Chicago and
Alton was five thousand shares a.
wr4NA Insa- = a1au14N0rg ne 81 Hn.
dicating an overnight loss Of as
points. Preferred stock started with
three thousand shares at four a new
drop of 5h points. No transactions
occurred in either the three or az per
cent bonds In h first 30 minutes.
Professional pressure was applied
more or less persistently 10 the Mex
lear oils. equipments. motors. Marine
preferred and some of the high-grade
railroad shares. Independent upward
movement continued in many of do
mestio oils, food, textile and express
issues. The decline in the more pop
ular speculative stocks was n strain
on the general list. The market fell
also on the lack of encouraging news
the confused status of the steel
mergers, stiff money rates and the
CoIlplc1 lOEtlEn SlIUatlOn restricting
confident operations on tho long side.
Quite q number of new high records
were again established. including Can
adam Pacific, Delaware. LackaKvanna
and Western. American Brake Shoe,
Pressed Steel Car, National Biscuit,
Famous Players. American Radiator,
American Water Works and Electric
preferred. Twin City Rapid Transit
and Pittsburgh Coal. which advanced
n to o points, Chicago and Alton
three per cent bonds slumped III and
the 3hs. SIS points. Call money
opened at four and a half per cent.
Liberal offerings of ~low.pr1ced rail-
roads came on the market after mid
Wisconsin Contra breaking
three points. Chicago Great Western
preferred axe. Minneapolis and st.
Louis &c and Western Maryland
New Haven one point Rubbers
also lacked support, United States
and Relly>Springfield giving away
sharply. a characteristic rebound In
Mexico Petroleum which carried it
more than three points above the low
OF the forenoon md a gain of
tw pints in Crucible Steel had a.
steadytns effect IN tho better known
shares. Relatively inactive special
ties continued to creep into new
high ground.