Arizona republican., 1922-05-13
Days Review of
the New York
Stock Market
TRepubIican A. p, Leased wIre1


points in two days. Other indepen-
dent steels, particularly those men
toned as integral parts of the sever
company consolidation, which orig
inally included Lackawanna were re-
dictionary at first but rallied later
Crucible, Bethlehem, Republic Sloss
Sheffield Gulf States and Wfckwire-
Spencer scored gross gains of to 69s
points.
United States Steel was the only
important issue of it's particular type
to show a narrow movement, but it
closed at an advance of rs. AM
nouncement that the senate had
adopted a resolution to investigate
the proposed steel mergers was ig-
nored, aside from a brief halt in the
advance.
Equipments derived more or less
substantial benefit from the demand
for steels, and motors and oils also
improved. Coppers showed increased
firmness on higher prices quoted fol-
the metal and tobaccos were strong
especially Retail Stores, but trading
in rails was comparatively light and
at negligible changes. Sales amount
ed to 1,235,000 shares.
Money rates favored the days adj
vance, call loans opening and renew
ing at 3% per cent, but easing to
31b per cent at midday. More 30
day loans were reported at 4 per cent
but the open rate for long time ac-
commodations continued to rule at
AZ per cent.
Lower quotations prevailed for
leading foreign exchanges. Sterling
fell only fraction of ! cent, but
allied remittances eased three to five
points. German marks We're firm,
and Dutch and Scandinavian bills
hardened Far Eastern quotations
were not materially affected by adj
vices of a financial crisis in China.
CHICAGO BOARD
| CHICAGO, May 12.-Ill success re-
suited today from attempts to repeat
yesterdays spectacular hoisting of
market prices. Closing quotations
were unsettled at the same as yes
/ terday's finish to q cents lower, with
| May $144M to $1.45 and July $1.26k
| to S1.26A. Corn closed ssQ1a to q
| down, oats at Il decline to a shade
advance, and provisions varying from
off to a rise of 21a.
Bulls presented a bold front at the
opening in the wheat market and in
| the twinkling of an eye had bid for
SlOO. 900 bushels. Other liberal orders
! to purchase We're also quickly filled,
| but the majority of traders seemed
| in a mood to be cautious and to look
| for a reaction rather than fresh
advance. The market did rise to a
moderate degree, 1A for May, but
| then began to drop, and the longs
turning to the selling side abandoned
their effort. May fell "a from the
days top figures. but later recovered
somewhat.
Receipts of wheat here today were
liberal, 265 carloads and deliveries
on May contracts were also of gem
erous proportions, $4,000 bushels. In
addition the bulls had to contend
with the fact that a vessel here was
unloading No. red winter wheat
brought back here from Buffalo.
Corn and oats weakened with wheat
Domestic shipping inquiry for corn
was slow. Some export call at the
seaboard, however. was noted
Some commission house buying
gave steadiness to provisions.
RRADSTREETS REPORT
NEW YORK, May 12.-Bradstreet's
tomorrow will say: Better weather
and crop reports, the Southwest and
lower Mississippi valley excepted;
more activity in retail trade, though
few sections report conditions better
than fair; collections still in the slow
side; industrial activities in April
crystalizing into numerous favorable
measures of movement: a rather
better trend of reports as to Euro
pean trade and political conditions,
chief Of these being new high levels
for sterling exchange, but rather
quieter and reactionary stock mar
kets, about summarize the weeks
happenings.
AS regards the stock market, it
might be said to be appearing to
mark time while the industries whose
Improvement it had been foretelling
and discounting from last summer to
mid-April, are consolidating their
positions" to use war phrase.
Weekly bank clearings, $7,1S4,-
WOOL MARKET
BOSTON, Mass, May 12.-The
Commercial Bulletin tomorrow will
say:
The zest for wool was hardly di-
minished during the week, and prices
showed a continued upward trend,
the advance being about 5 cents
clean pound for the week. Buying is
keen here, considering the limited
stocks, and the Western clip is NOV
ing rapidly from the growers hands.
The manufacturers deplore the
rapid rise in wool but are compelled
to follow the lead of the raw ma
teriaI. Some improvement is noted
in the demand for worsteds and
woolens continue strong. Meantime
the tariff delay and the strikes at
the mills complicate the-calculatlons
of the mill men.
Wool quotations will be published
as follows:
Secured basis. Texas fine II
months. 4i.20@XX: fine 5 months,
$1.000110; California northern, Sl.20
@1.22; middle country, 105M1.lO;
Southern, S5@90e: Oregon eastern
No. staple, $12O@125; fine and fine
medium combing, S1.15@1.20; eastern
clothing, $1.00@110; valley No. ],
$1.05GD1.0S.
Territory fine staple, choice, l1.2O
61.2S: u blood combing, $1.O5@1.l0:
* blood combing, S0@S3c; 4 blood
combing, 6S070c; pulled Deiaine,
$1d0@115; IA, S105Q LILO; A supers,
90c@S100.
Mohair. best conbing, 55d5Sc; best
carding, 50@55c.
BAR SILVER
NEW YORK. May 12-F'oreign bar
silver, 70is Mexican dollars. 53h.
CTJNApT1