The Washington times., 1922-04-01
MARKET
HOLDS FIRM IN
SHORT SESSION
Market Maintains Strong Tone
With Continuation Of Up
ward Trend.
By w. 8. COUSINS,

Copyright. 1872, by Cosmopolitan New
Service,)
NEW YORK. April There was
an element Of caution running
through today's short session of
the stock market, and, while buy
ing demand from the outside was
somewhat limited, the market main.
tanned firm tone und price
changes were almost without excep
ton in an upward direction.
Stocks started in practically
where they left off on Friday, with
the exception Of the coal-carrying
rails. which were conspicuovsly
strong, and which maintained their
strength to the closing. In this
class were Baltimore AMI Ohio,
Chesapeake and Ohio, and Atchi.
son.
studebaker and Chandler. the
leaders in the motor group, did not
they receded yesterday afternoon,
the previous close.
The steel stocks were inclined to
be moderately reactionary. due to
a large extent to profit taking by
the longs. and to hesitancy on the
part of the bulls to add to their
commitments on the eve of the
strike.
Bethlehem B were down two
points from yesterdays high. A
steel manufacturer stated that
enough steel business Ia already
booked to assure rs per cent oper.
alton Of all the country's steel
mills for the next four months.
Sears Roebuck was again active
and strong today, advancing 2 points,
to 75h. Savage Arms scored an ad.
vance Of 4 points. to IAN; Pierce
Arrow got back to 1871 for an ad'
vance Of IN, and American Smelling
continued in good demand at ad.
vancing prices.
st. Paul common and preferred
were both strong today, the former
at 23h and the latter at 38h, repre-
senting gains Of about points In
two weeks. The car loadings of March
were exceptionally heavy, and the
company has recently ordered 1000
new cars and fifty engines.
General Asphalt was in good de-
mand today. selling up to So for q
gain Of ". Mexican Petroleum also
came back in the second hour and
sold up to 1211a a gain of IN over
the previous low point.
me not much activity was ap.
parent in the bond market. the de-
mand for bonds was sufficient to
i.soip All offerings, and prices were
inclined upward through the entire
session. The I.iberty 35S's sold up to
their previous high point Of S8.4O,
the first AVS at SS.SS, the second
AVS at 1896, the third Liberty issue
at 1856 and the fourth AVS at 80.
The Victory AZ sold at 100.s2.
Foreign bonds maintained their
strong tone, the United Kingdom 6s
Of 1922 selling up to 105A, the Next
can As at 62b, Argentine rs at ssA
Belgian SIS at 103, City Of Zurich SIS
at 113h.
On the railroad bond list, the Bal
timore and Ohio and st. Paul bonds
were conspicuously strong. The st.
Paul As of 1925 sold up to "a. the
Baltimore and Ohio convertibles at
8Ok, New York Central SIS at 102A
and the Chesapeake and Ohio 5's at
8S%., .,..r1.....
Prices in the cotton market were
affected by the liquidation of Wall
Street and the spot houses. due to
prospects of favorable weather In the
cotton belt. Acreage reports also
showed an increase In the spring
planting. Prices were slightly de-
pressed at the closing.
Offerings Of bills in the foreign ex-
change market were light and rates
remained steady. Demand sterling
was unchanged at 4.37%. Marks
were slightly lower at .0033%.