The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-08-02

J II sTuAErP. NEsT-

gavs IN, excellent account
SSsives IN today's dealings.
~. 81 the news with q bear
Y securities including. includ-
~ railroads refusals to con-
anything in the contest over
ssn'5 seniority rights. and the
1 opsraturs' declination to meet
= union leaders, had much less
- than many expected In fore
1klces down in early transac-
In fact, professional traders
odd stocks short were able to
about only fractional de-
- for the most part, and when
lpught to make re-purchases,
1870 were very scarce.
sIi& York Central, after reced-
Z point, went forward sharply,
nan the distance lost, touch
~ new high level for several
1iSl5 above 80. This abrupt re-
si11 Of initial tendencies, togeth-
III ~. a rise Of four points In
SlIodIk & Western, helped steady
~ ttire list, and in the forenoon
n rails and industrials were a
slI3j6 higher on the average than
u fsesday.
fIle market showed quite plainly
Ut current difficulties centered In
kffltes and commodity price move
nenss were held of less impor-
1naoe by investors and spectators
- the longer future than some
tfuld Industrial facts. There was
1T - little evidence of liquidation
bday as there had been at any
rvsious time during the strikes.
I0uits naturally new buying of the
lnpgs stable sort was very light,
~ anyone knows that the complete
~ Of the strikes cannot yet be
lnsasured, but various traders
lapund, as they had been, that they
Ieuuld not steer out large offerings
~ today's strike developments the
Incfe disturbing item from a mar
,lSt point Of view was perhaps the
reoal operators assertion that they
Hould not deal with the national
union, but insisted upon regional
sttlements. This attitude carried
~ own influence OF the prolonged
ontroversy, for the United Mine
Workers, for II weeks, have held
their men well in hand.
/ The strike deal outlook does NO
Minimize proof that business ii
prsssing heavily upon the roads
Carloadings Of general merchan
disc in the week of July %, whel
The shopmen's strike had been il
sfect more than q fortnight, reach
Cd the large aggregate of 1886.
cars, quite the largest ON recor,
for the season and within a shad
Of the great movement of freigh
IA October, 1920. This total ex
GUIDED coal. As the merchandise
Tow was 1,491 cars larger than tn
week before, it is clear that indus
trial growth continued past mid
summer under great handicaps.
The ssle at auction of the Slut.
stock, held as collateral for tn,
debts OF Alan A. Ryan and Com
'pany, brought $50 a share, will
George L. Burr OF the Guarant,
Trust company taking the larges
block, a lot of 1854 1-3 shares
Two hundred shares Of Pneumati
Tool sold at $71 share and $3.50.
700 eight percent notes of the Con
.thental Candy Company brough
10 percent Of the face value. TIL
trend of sentiment in the steel in
dustry was we'll depicted in th
weekly review which suggested tina
ambitions would be worse befor
I ney were better.
The Steel Corporations plant
re reported back to 10 percent 9
capacity Of operation in contras
Z With rs percent during June and in
dependent mills have fa1le
through the 60 percent level. Fiv
weeks ago they were close to tn
Steel Corporations ratio.
\ The fall of German exchange t
new low point well under 1910
cents was the evident reflection {
french determination to collect ar
ctAer monthly reparations install
.nent Of $10,000.O00 of August
Que August Is.
= Stocks were exceedingly dull /
ne afternoon, in fact it was tn
fullest session since the strikes b.
san, There were strong spots moi
sAiy in Corn Products and Postul
Wreal which went to new hig
points, but as whole the markt
vs very irregular around Tue.
aay's low nrices