The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-01
PRICE MOVEMENT
IN CONFUSION
Closing Quotations Gen.
orally Higher Than
Those Wednesday

n NEW YORK, Aug. 3i-Confused
Il price movements took place in to-
n days stock market. but closing quo
a tatlous were generally higher than
those OF yesterday.
Overnight announcement OF a re-
4 ownership Of the Chicago & Alton
railroad, because of heavy expenses
/ incurred In the coal and rail strikes
+. Induced hearish operations, especial
w against the cheaper rails, wh!cn
temporarily unsettled the market.
Sentiment became cheerful again,
however, upon adVices 10 brokers
indicating a speedy end OF the an
thracite coal strike and Il brisk de-
maud for oil shares. which appar-
entity was based on government re-
ports of heavily increased consump-
ton and decreased production OF
the crude product for July.
wall street was not wholly unpre-
pared for the Alton ~recelvership.
The preferred stock of that road had
closed wednesday night at ga and
the common stock at So. Opening
sale today was 3,000 preferred at A
and 5000 common at 8. The pre-
ferred rallied later n closed at
b%, while the common declined TO
= "a bILOA& a AaAAANa 6A1
SH. The break in bonds was much
more pronounced.
The h~eaviness In Alton extended
10 other low-priced rails, but most OF
them recovered part OF their losses
before the close. Western Maryland,
was off IA on the day; Chicago,
Great Western Ia, the preferred
AZ; 81. Paul ", the preferred q,
Minneapolis and St. Louis IA kan
sas City Southern 3& Texas Pacific
3 IA, and New Haven II.
Canadian Pacific crossed ISL ON
4 reports that the volume OF freight
\ traffic was now the heaviest in its
\ history. Equipments were In good
4demand upon publication Of a re-
Z port that the Pennsylvania railroad
\ had ordered 100 large locomotives
from the Baldwin company. Bald
win advanced nearly a point In
sympathetic gains being recorded by
American Locomotive, pullman,
American Car and Railroad Steel
Spring.
Mexican Petroleum enjoyed an
. other Of It's sensational moves today,
/ closing at a net gain OF 10% points
on heavy buying by speculative In
t~erests. Both issues of Pan-Ameri-
can. which controls Mexican Petro-
leum advanced more than three
points. Most OF the other foreign
and domestic oils showed only frac-
z tional changes, most of them up
ward. California Petroleum, how
ever. moved up W points on a fair
" extensive S~pecialties
which registered substantial gains
for the day included American Wool.
Loose-Wiles and Pittsburgh Coal.
Total sales Appropriated 10000
shares.
Foreign exchange rates were ir-
regular. the announcement or Pre-
mier Poincare's acceptance or the
Belgian compromise on the German
r~eparations question coming 100 late
TO influence today's market quota
lions. Early rates OF demand ster-
ling and continental remittances
were generally lower but they Inn
proved as the day progressed. Czecho
Slovakian crowns continued TO drop
under speculative selling pressure.
Call money opened n renewed
AT Az per cent, the highest rate In
more than two weeks and hardened
10 Z at tn close. The firmness due
TO September / and holiday require
ments. Time money rates were Vir-
tually unchanged with little business
being transacted.
The sharp break in Chicago e.
Alton bonds, which followed the
over-nigh announcement OF a re-
celvership, unsettled 'today's bond
market, second grade railroad mort
cages being particularly susceptible
to selling pressure.
The Alton SIS closed with a net
loss OF Z Ia points and the 2h's
lost 8 SIS. Losses OF 3 to nearly 3
points tool place in Minneapolis
and st. Louis refunding as n o's
and Chicago & Great Western IS
while declines OF / to ~ points
were noted In Minneapolis n st
Louis consolidated 5's, katy" ad'
justment SIS. Iowa Central 4s, Erie
general as, st. Paul general an 8
and Denver & Rio Grande as, Sea-
board Aid line coDsolidated 6's and
/, adjustment SIS.
, Liberty issues were Irregular,
with n majority showing sma'I
1osses. go
"a Total sales. par value, were VIZ
y 1910 O0.