Evening star., 1922-09-02
:PRE-HEOL|DAY TRADE.
WAS ONLY FAIR
Market, However, Displayed
E Its Usual Indifference to
Threat of Strike.
BY STUART p. WEST.

NEW YORK, September 2. = The
action of the stock market at the
start today showed clearly Wall
streets Indifference regarding the
threat of 4 general strike throughout
the country. This threat was made
by the head of the Federation of La
bor. in answer to the blanket injunc-
ton secured by the government
against the unions. intended to pre-
vent them from interfering in any
way with the operation of the rail-
roads.
With the exception of Studebaker
which moved ahead rather sharply.
3; nd Mexican Petroleum. which lost
s"rne of the ground gained earlier in
the week. prices held rather steady
throughout the short session.
There was not quite SO much activ-
ity as on previous days. because many
traders had left town for a three-day
Holiday, the stock exchange not being
open on Monday Taking the days
"1erations as IA whole. it was a typi-
cal pre-hOliday market. Taking the
list as a whole, price changes were
fractional
Pre-Hoiiday Market.
There was as little doing in the
other market as in the stock market.
Th" foreign exchanges held around
their Friday closing figures. while
trading in bonds was absolutely stag
nant.
Toward the close of the stock mar
k"t several specialties became active
and got 10 New high ground. Among
these was May Department Stores.
which made a new high record for the
. year. This advance in May helped the
other chain store stocks to advance
fractioually. Another to move ahead
sharply was Chicago Pneumatic Tube.
Studebaker Firm.
The activity in Studebaker was
brought about by the report that the
directors. at their next meeting are
. likely to say something about size
able extra dividend in stock. Stude-
baker is the only member of the motor
group TO hold up its head in the pres
ert market. the other motor shares
listed on the stock exchange doing
nothing at all.
Lima Locomotive.
The name Of Westinghouse Electric
Is being CONNECTED with the advance
IN Lima Locomotive shares. Wall
street having a report that the West
IUEhouSe interests are planning TO
secure voice in the company, ul-
tiuately looking to complete control
In such case the Lima Locomotive
plant would he used to build the
shells for Westinghouse electric en-
sines.
Rock Island.
Chicago. Rock Island and Pacific
common, while not so active as on
FRIDAY, was still the leader of the
railway shares in todays market.
Rock Islands earnings in July are
reported to have been at the annual
rate Of 1867 per cent on the common
stock. as against 1883 per cent in
the same month last year. The road
stands to benefit materially in the
crop-moving period because of it's To-
cation.
In the last quarter of an hour the
share list was irregular with few of
The recent industrial favorites at their
/ best prices of the day. Famous Play
ers was bid up to a new high across
161. Stude baker, the market leader to-
day. closed at 132i2, a net gain of y of
q point.
Consolidated Gas led the public utility
group. Producers and Refiners was bid
up sharply at the closes after an earlier
reaction. while Mexican Petroleum end
!, ed the day at point loss. Several of
rhe rails. including Erie common, were
down fractionally. The foreign ex-
changes held up well with francs the
feature of the market