, 1922-09-25
MARKET TREND
HIGHER AGAIN
New York Opening Today
Marked by Strong Demand,
Oils Climb.

NEW YORK Sept. 25--Today1s
stock market offered stubborn resist
ancs 10 occasional short pressure and
prices moved steadily upward Favor
able foreign and domestic Jews de-
Induced extensive short
covering in some o. the popular
-harez. high priced OIL, rail. gas and
merchandising shares being pnrtieu-
hrv uromlnent. Safe =9proximated
$4,000 shares
u~-noovering OF a few weak spots BY
bear traders failed 20 halt the upward
movement Tobacco ATo3aSts- Retail
stores. uoustoa on. North American
and American telegraph and Cable
were pushed up I to : points Bed
win and ~studehaker were under rres-
sure. declining a point or more each.
N close was steady.
NEW YORK. Sept. 25-The up
ward movement OF prices WIS re-
suned a. the opening Of todays stock
market. Gulf Stnres steel was pushed
up ever three points 10 a new high
record ior the year. some of the re-
cent buying being attributed TO a
group Of Birmingham bankers. st
Joseph Lead and owens Bottle also
advanced more than a point TO new
paak prices. While the buying OK
tended over most OF the list. high
rrnda rails. oil. chemical equipment
and public utility shares were most
in demand Atchison led the advance
In rails with a gain OF two points and
material Improvement was noted in
southern Pacific and Chesapeake and
Ohio, Standard OIL OF New Jersey re-
Sumed leadership u the oil group.
mounting nearly . points. while
ROYAL Dutch advanced / and gains Of
substantial fractions were recorded
by Mexican Petroleum and Pan-Ameri-
can. Consolidated and Peoples Gas
shares each climbed n point and were
followed into higher ground by Davt-
son, Allied n American Agricultural
other industrial strong
spots included Crucibie. American
vTcc,sa and Famous Players, each up
point or more
other speculative leaders in which
a fairly large short interest is sup
posed 10 exist fell into line with the
inward movement 3 n Gulf States Steel
h stock extending It's gain to near
ly five points. Country wide reports
pf increased retail business found ex-
in the demand for merchan'
Using shares. Kresge jumring five
points TO a new 1922 high, Nsolworth
riimbing So and May Department
Some uusettlement took
,lsce Mt midday when Mexican Petrol
was subjected TO pressure on
-umors OF additional oil taxes. that
took dropping IN below Saturday, {
lose. Republic Steel. Rock Island. Z
Smelling. United Retail $
torres. Mathiescn Alkali and WHY'S
overland preferred also yielded to pro c
selling. the declines ranging :
rom 1 TO ? points, Call money OPEN e
q and renewed at five per cen
NEW YORK, Sept. 25.-Enorts TO
about a further reaction were =!
r~navailins when a brisk demand
.roso for the high priced oil shares
he absorption of these issues was SUP q,
lenented by renewed inquiry for the :
as, food and investment railroads :,
a quick rebound throughout :
he list. Associated oil improved .
our points. Standard Oil OF New Jer- '
ey rose 81 TO a new high figure for !
he year. California Petroleum and /,
standard OIL of California . points. '
Petroleum shared in the rise
TO nearly > points above Sat
closing. Columbia Gas was
up 3 points. United States :
sealty sA and Atlantic Coast Line
3-s. Austin Nichols. Cuban Cane
preferred. Postum Cereal, Ster-
.ng Products. Endicott Johnson and
'wens Bottle also made CONSIDERABLY