, 1923-01-15
oils IN POWER
AS STOCKSG CT UP
Higher Ground Reached as
Reflection of Higher Prices
for Mid Continent Crude.

NEW YORK. Jan 15.-Heavy bear
sailing and profit taking by recent
buyers predicted on the ncreused
gravity of the foreign situation re-
aulttng from the invasion OF more
German territory by French troops
undermined todRy's stock market
despite concerted efforts of buIIish H.
terests to rally the general list by
bidding IN steel and railroad a
Operations on tho long side were
finally abandoned when the general
Liquidation became urgent.
Sales Appropriated 1.25o,ooo shares.
NEW YORK. Jan. 15.-Prces were
firm at the opening of today's stock
market. SPECIAL shares again were.
in the most demand. Postum Cereal
being pushed up 2 points to a new
tor. Good buying power also was
noted in the oils. Houston, California
Petroleum and Sinclair ross to higher
ground in reflection of higher prices
for Mid-Continent crude oil American
Can duplicated its years higher and
Tsxns Gulf Sulphur and Hartmann
corporation were pushed up to . new
peak price
POEIUm CGT1l eAIELluGo A0 bNA ~
3 points, Houston OH to III and Amer.
lean Can To Ia Gains OF a point or
more were mado by Crucible Steel
steeI and Tube preferred. Southern
railway preferred, Central Leather
preferred, MARYLAND and Hida Leather
preferred. There were a few weak
suots. notably Associated Dry Goods
on Q points; General Electric on !
and Pan,American A OF v. German
marks dropped to another low record
7s.1ooths Of one cent a hundred. OF
moro than IL, 900 to the dollar.
The entire market jagged Don
after the opening under the pressure
of heavy selling orders in OILS equip
ments, shipments and trAa.
ing became more active as prices went
down with several of the low priced
railroads and spectalties
forced liquidation Occupation Oh
more territory by h French troops
and lower foreign rates
combined with the belief that the
technical condition of h market
warranted a reaction,
influenced SPECTATORS for the decllne
to offer stocks freely. Famous play
ers was depressed az points, u AS
sociated OH 3 while losses of lHs 70
az points were registered By balu'
win. Standard on of California, a
ifornla Petroleum, Associated pry
Goods, May Department Stores, Unit
ed Retail Stores aud New haven.
Efforts were made 20 rally the list by
hiding up the steel shares. United
States Steel, common, Sloss Sheffield.
Republic and Cr1icibie being pushed
mn a point above Saturdays closing
Quotations and Gulf States Steel AZ.
ThIs however. had little
tonic effect on tho balance of the list
although Corn Products was puzzled
up three points for special reAsona-
Gail money opened at four per cent
Eager bidding for railroad stocks
~charactsrized the early afternoon
dealings, the demand including a
wide assortment of dividend paying
and low priced issues Their were
advances oil 3 points in Southern
Railway preferred and . to az in At
lantic Coast Line, St Louis South
western, end Western Maryland sec
ond preferred.
weakness continued over a con
siderable portion Of the Industrial
list. United Retail Stores was de-
pressed AK, while American Can.
California Petroleum, Utah Copper,
~Studebaker and Chandler Motors con-
tinued to work lower. Hartmann
company and Gfbel Brothers I'm
proved sE each. S. Barnett Leather
az and Reynolds Tobacco B two
points.
The closing was heavy. The
marked atsencs OF effective buyins
power in the leading industrials and
specialties encouraged moro agrees
two short selling and p~rofit'taidnE in
the final hour during which railroad
shares also became r~eactionary.