The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-11-04
PRICES CONTINUE
TO MOVE UPWARD
Movement Interrupted at
Times by Intensive
Profit Taking

NEW YORK, Nov. s.-Prices con-
tinued TO move TO higher ground in
today's stock market but the move
ment was interrupted at times by
extensive profit taking and expert
mental short selling I'm an attempt
20 uncover weak spots.
An announcement OF an Increase
In prices by the Studebaker cor
poration checked the realizing sales
I'm the late afternoon and brought
about a rally. which carried a num-
ber OF stocks to their highest levels
OF the day, Studebaker gaining 3
points
United states Steel common was
pushed up more than two points to
1O7A.
Railroad shares enjoyed burst
ot activity in the midsesslon, hut
extensive profit taking cut heavily
into their early gains. The stocks
which managed to register a net
gain OF n point or more included
Lackawanna, Chicago Il Northwest
ern, St. Louis Southwestern pre-
ferred, Union Pacific, Texas & Pa
clfic and Wheeling & Lake Erie.
Independent steels were pushed
up, gains OF | 20 nearly points
being recorded by Bethlehem B,
Equipments fell under the weight OF
realizing sales today Baldwin and
American Locomotives were able to
rise fractionally above yesterdays
closing figures. while American Car
improved l point,
Some excellent gains were made
by motor accessory shares, Fisher
Body jumping I points and Ameri-
can Bosch Magnetic 3. Merchandis-
ing shares also showed great i'm
provement.
Mexican Pet again assumed lead
ership OF the oil group with net
gain OF nearly points, but the allied
Pan-American issues were heavy,
dropping more than a point each.
Standard oil OF New Jersey pre-
ferred improved a point but the
common and Standard oil OF Cali
fornia declined fractlonally.
Call money opened at per cent
but eased off 70 4A and then Az
where Il closed. A large volume Of
time money is being placed at 5
per cent.
Commercial paper continued at
AZ per cent
Foreign exchange rates were ir-
regular Sterling advanced slightly,
while heaviness was noted In the
French rate. German marks dropped
TO another new low record at o-16c
n hundred, but rallied later to NC,
Canadian dollars we're still selling
at a slight premium.
Re-establishmen OF the par price
by the new United States govern.
ment AZ per cent bonds which had
slumped as low as sos.90 within the
last two weeks. was the outstanding
In
ment in today's bond market. For
eign government securities, copper
company liens. local fractions and
speculative railroad mortgages reg
istered the best gains.
Trading In Liberty bonds was
quite active with the third aAa
making tho best showing with
rise OF 32c on 500. Advances in the
other active issues ranged from lac
10 26c.
Cerro de Pasco SIS led the copper
company securities 10 higher ground
with a gain OF 3 points.
Uncertainty over the ultimate
trend OF bond prices Is reflected in
issues I'm the last few days, Balti-
more & ohio ans OF 1925, and St
Louis southwestern consolidated rs
ot 1882 being among the most pop
ular.
There were few exceptions 20
the upward trend, the most impor-
tant being s-polnt break In East
ern cuba sugar Z as, Other weak
spots were Llggett e. Myers 5s, COM
putting. tabulating, recording 6s'
steel & Tuve Of America 5s and Mar
land Oil So, all OF 10 2 points.
Total sales, par value, we're w.
5000.