Evening star., 1922-09-25
FOREIGN AFFAIRS
CAUSE UNEAS|NESS
Rails Were Under Pressure.
IndustriaIs Soft-Chain
Stores Are Higher.
BY =. r. WEST.


NEW YORK, September 25.-Cncer-
tainty over European politics was
factor in today's market which was
marked by less eventful actions than
any day during the current month.
However. this uncertainty was oy
no means the whole explanation LOT
The general suspension OF investment
and speculative activities.
The over-Sunday news was inter-
preted in the main as hopeful, yet not
at all conclusive. Consequently wniie
the foreign exchanges went higher
the rise was small and the same was
true of foreign government oohos.
The investment market was more
concerned over Turkish affairs than
the speculative market, but there
were other influences at work lnduc-
ing caution and a disposition to delay
intended purchases.
One of these was the desire to get
:. better line upon the volume OF new
security issues expected within the
next week or so.
The other was the wish to know
more about the project of the new
government loan. its size, It's terms
and the amount of competition which
il would involve for other invest
mCntS.
Speculation Dormant.
The cutstaning feature about the
stock market was that speculative
operations had lost the energy which
characterized them all through Au-
gust and the first week OF September
The market after all. was merely
, having the same sort of lull and par
tiaI letdown which 1t had after the
elimination of the spring campaign
and before resumption Of the main
forward movement In the midsum-
mer.
The chances are that what has hap
pened in the speculation of the last
week would have happened anyway,
regardless of the news from the Dar-
danelles.
Selling the Rails.
There was noticeable pressure again
today against some of the railway
stocks The selling was heaviest IN
Rock Island and Baltimore and ono
pectations of unfavorable tramc
statements for the month of August
Baltimore and Ohio was hard hit by
the coal strike. as was shown IN its
July report The August nsares
quite likely will be worse
Rock Island will make poor snow
ing for August, but those in touch
with the company say that the sep
tember earnings have picked up
lot and that the report for this month
will be quite satisfactory.
The Lead stocks.
st. Joseph Leads advance to new
high for the year above 20 was SIM
ply rejecting the turn for the oetter
in the Lead Industry and the advance
in the quotations Lead Is now quoted
at well above cents. and trade au !.
thorities are expressing the eenet
that 1t will continue to move ahead
The situation in this Industry IL
ha$ r,f n
per and zinc industries. The coun.
try Is faced by q shortage In iead
unless some of the larger producers
can keep up with demand.
Coco-Cola.
Tie sharp run-up in Coca Cola to-
day was merely a move against the
short interest. So much was maze OF
the story that the people who had had
heir M profts into Austin Niohols. that
the bear party thought 1t a tip TO
sell Coca Cola and they sold. The
price broke from 78 to a5.
1t was reported today that the
Bethlehem Steel Corporation mas con.
tracted with Brostroem Shipbutlders
of England for construction OF spe-
cial vessels to carry ore from Chile to
New York.
On September there were 43.l69
surplus freight cars. which was de-
cline of 2I.2S7 from August dl. as coTl-
pared with requests from shippers for
s7.s99 cars, the last figure represent
ing an increase of 9.229 cars over the
number sought on August 81.
The following sold ex-dtvidend. to-
day: AIlis Chalmers preferred, y !;
Hudson Motor, so; International Haf-
vester common, 1.25; United Alloy
steel common. so: western Union.
per cent: Computing. Tabulatlns and
Recording, 1.5O: Clinchf1eld Coal COM
mon, 8 per cent.
standard Oil of New York has ad-
vanced the price of kerosene l to II
per gallon in New York and Is per
gallon in New England.
car loadinss on the New York Cen
trail totaled 174.707 during the period
of September 1 to IA, which was an
increase of 41.369 over the same
period last year: During the same
period last month car 1oadings were
l50.o46.