The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-05-13
Stiff SHARES BOOSTED AFTER
BETHLEHEM LACKAWANNA DEAL
All Independents Scort Good
Advances After Preliminary
acknowledgment IN
Demand.

New York, Max l%.--S'c"i s5"r'- "eH-
,ured today's stock market. otherwise
the list denoted CurGher dIminutt"n OF
public interest and recent speculative
enthusiasm.
Lackawanna Steel was the ioTe'noS'
feature throughout the session Inv
company's proposed merger w';h Lem
lehem Steel caused nm addItiona! eN-
trcme rise of Is points and 4 net gam
OF l@Ss. making a total ut i2Ns po'n>S
II two days.
Other independent s:eelS. particularly
those mentioned Is integral parts o. inc
seven company consolidation. waicn Or
lginally included Lackawa7na, were TO-
dictionary at first. but rallied later ~
chile. Bethlehem. Republic. StosS-9fei-
aeld. Gulf States and WiSNwirc-Sp"hc'F
scored gross gains OF 5 to oS points
United States Steel waS the only I'M
portanr issue Of It's particular type 70
show a narrow movement but X cIoseu
at an advance OF i. ANNOUNCEMENTS
that the Senate had adopted reSoIu-
ton 70 investigate the proposed S'r'.
mergers was ignored ASIDE from o.
halt in the advance.
Equipments in Demand
Eouipmcnts. notably Pullman. Genera
Of less substantial benefit from the de-
r,ar1 fo- steels and motors and oils tssc
,rproyed Noteworthy exceptions en-
hrarsd Pierce Arrom. common and pre-
rsrred. which were heavy from tn" OUT
ser on failure OF the negotiations Win
Lafayette Motors.
-oppers showed increased ttrmncSS or
higher prices quoted for the metal. and
tobaccoS were strong. especially EetaH
stores. but trading IN rails was re'a-
lively light and at negligible changes
Sales amounted to I.@35.e0o shares,
Money rates favored tho days au-
vance. call loans opening and renewing
az So. percent. but easing 70 81. percent
at midday More thirty day loans were
reported nc four percent but IN" open
rate for long time accommodations con-
.inued 70 rule at Al percent.
Lower quotations prevailed for lead
ing foreign exchanges Sterling ten
onlv 4 fraction OF one cent. bat A.heo
remittances eased three 10 NE points,
German marks were Arm and Iutch ana
Scandinavian bills hardened. Far East
err quotations were not materially ar
Fectrd BY adviccs Of a financial CRISIS
IN China
Bond List Hardened
Responsive 20 the better tone or 'n'
stock market. the bond lis, hardened 20
day on broader operations. which IncIla-
al n,rzaerous investment issues.
Rejecting the Bethlehe u-LacNaWanna
wteel merger. I.ackawanna Steel flFeS
rose two points. NEUTRALITY-SUSPICIOUS.
Chemical issues also strengthened WIN
American Cotton Oil.
Packard Motor. Kelley-S Springfield an"
other motor and rubber accessories nm
proved. and local utilities. including IN
,erborouSh RaD:d Transit hres were IN
demand.
Changes among rails were ltrited
mainly 70 fractions. although CHICAGO
4 Eastern Illinois 0ycS developed marx
cd strength. with 50. Paul and MISSOURI
Kansas x Texas issues.
Among government offerings. lhoer-
gacs closed II nominal gains or icSseS
snd Dutch Fast Indies OF 1882 and Nor
~ ...htS were firm 20 strong. WIN
Uruguay Fights. Copenhagen 5'='S. he'-
.!an rs and Mexican Fs lower. "." pa,
salcS ipar yalue> aggregated Slb'"4-'po''