The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-20
STOCKS RENEW
SALE ACTIVITY
Easier Money Main Cause
of New Speculation
in Wall Street

NEW YORK, May lo.--specula-
tive activity in the stock market
was revived on a comparatively
scale today. mainly as result of
easier money, virtually all forms OF
accommo odation falling TO lowest
levels in almost five years.
Aside from cali loans'which we're
freely obtainable at 3 l-2 down to
per cent, 80 days money eased to
IA pcr cent; 60-day money at
per cent freely offered and loans
existing nearly to the years were
made on tho 4 Ia per cent basis.
A very large proportion OF the
day's funds come from interior
soirces especially New England and
The middle west, but the higher ratio
OF reserves represented in the week.
Iv statement of the local federal
reserve bank bespoke relaxed condi-
tons at this time.
steel, sugars. coppcrs and motors
were in the forefront OF the days
board operations at gross advances
of to almost . points. outstanding
individual issues embraced United
states steel and New Haven, both at
record quotations for two or three
wears and closing at net gains OF
rs and ia POINTS respectively.
other leaders to show advances of
TO points included Mexican Pc
troleum, bethlehem Steel, Crucible
and Republic Steels, General Motors,
i'm which the turn over assumed pro-
portions; Sinclair. Producers and
Refners, Kelly-Springfield Tire.
Cuban American Sugar, Industrial
Alcohol and United Retail Stores.
Reading made net gains of / 3-S and
Concurrent strength of other coalers
gave color to rumors that the fed
eral administration, as reported by
the department of commerce and
labor, had formulated tentatively
plans for a settlement Of the coal
strike. Pacific, Changers. Trunk
lines and cotton carriers also made
more or less substantial gains. Sales
Of stocks amounted to 1,735,00O
shares.
Movements of foreign exchanges
were irregular on small turn overs.
The London rate eased slightly from
Yesterdays higher level and French.
Belgian and Italian bills were To
points lower, lire again showing
acute weakness.
Cheaper money was a favorable
influence in the bond market today.
brisk dealing being panied by
gains OF to 3 points in many OF the
Investment and speculative rails. in
dustrials and specialties.
There was decided broadening
of the inquiry for liberties, most Of
which were substantially better,
several OF the las approaching
par.
Aside from Chile copper skies and
sevens Cerro de Pasco eights both at
gains, the demand for metals eased
with the moderate reaction shown
by stocks of that class.
Internationals. especially Mexi-
cans, Swiss and several of the Scan
dinavians municipais were firm but
British and French showed no
marked changes.
Domestic rails were represented
on the constructive side by Great
Northern, Northern Pacific s "a $ and
several OF the st. Paul. Erie and
Missouri, Kansas &c Texas issues
with seaboard adjustment 5s the
strongest for feature of tho cotton
roads. Total sales. par value. s1s.-
$4,000.
NEW YORK, May 19.-Cotton
seed oil was sharply lower for active
deliveries under scattered liquida-
ton on the bearish census report.
poor showing in other commodity
ynarta,a ana al ttuha rnndtttOpg