Arizona republican., 1922-04-18
Days Live Stock
Market AT the Big
Packing Centers

NEW YORK, April l7.-An records
for the current and previous year on
tfie stock exchange were broken to-
day when dealings mounted to the
stupendous total Of 2,050,0O0 shares
and the number of separate issues
traded in assumed corresponding di-
mensions.
Trading was on an extraordinary
scale from the beginning, the volume
of buying orders received over the
Sunday recess taxing the machinery
of the exchange almost to its ca
pacity.
In the forenoon the turnover was
on a basis OF 100000 shares an nour,
and this high pressure Of acuVity
was only slightly diminished in the
last half of the session.
Further lowering Of call money
rates was one Of several stimulating
features Of the day. Call loans
opened at 4 per cent but soon dropped
to az per cent in the open market
and 8. per cent in private loans.
The sensational elements OF the
sessions were furnished by oils, that
group. almost by common impulse
Extending last Saturdays gains by ]
fo. 2 points. Rails, coppers, equip
naents and several OF the Independent
steeis REGISTERED similar advances;
h11t the entire list became urseftieu
At mid day on Sinclair's reaction OF
over 4 points. -
Tecbnfcai conditions, namely the
markets topheavy position, ana ca
HES announcing a treaty agreement
between Germany and Russia, accel-
Grated the reversal, much OF Whicn
vas later retrieved. Steels mace ut
tie recovery, however. these lssuss .ss
coming in for fresh attacks on adYlces
fTon pittsburg indicating that the
coal strike had become a distinct IN
fluence in that industry.
RaiJs. especially junior issues sucn
a. St Paul common and preferred
fshesapeake & Ohio. Baltimore q
Ohio and Minneapolis & St. Lotas'
we're proof against pressure, WIN
couuers and several Of the domesue
oils and specialties showing pro-
11eunced strength.
The news from Genoa failed to re-
fleet in the foreign exchange market
where all quotations, including ETH
ish and allied remittances, rose above
last weeks closing prices. Sterling
gained half a cent and French, itaiian
and Belgian bills showed UNIFORM
gains of points even the German
mark keeping moderate pace Win lne
general continental list
- CHICAGO BOARD
CHICAGO, April 17.-Efforts to Sc,
cure once big profits already in slgni
kept owners Of wheat too busy mos,
81 the time today to try any kltlns ol
nricex. Excitement over SATURDAY
AGENTS a bushel ascent in Valuss
gradually subsided and fresh aa. .
yances failed to last. The mafkel
closed unsettled, q TO 2E cents ne ne
lower. with May at s1.40M to Sl.4V14
and July $124% to $1.25. Germ iosi
- to x cents and oats 1s to Is cents
IN provisions the finish was uh-
changed to cents higher.
ftAfuch nervousness among "nes
fTadera was shown during the eaIis
mart of the session, opinion oelnt
Sharply divided for While az : :
whether the extraordinary jump ~
TTices on Saturday would be iolloWe'
by a still greater rise or Wne.neF
reaction would enslle. Possibillly Q
fI,roughout the approaching period Q
tFe settlement Of May contracts re
mained an acute problem, espec1aiaaA.
for dealers who have been selma
wheat on a large scale OF iate eA'
Meeting to obtain the grain at lowe
nrices when needed. It soon becaIn'
evident, however. that price uptuIh
no greater than are witnessed aIliio i.s
daily would for the time being lluue' ll.
bolders 10 let go Of plenty or "Aea
~ supply all immediate wants.
Holiday slowness OF export az
faand counted somewhat as Iactoi
ia. easing the strain on Lae Wiz