Salt Lake Telegram | 1922-02-24 | Page 4 | Wall Street

W WALL AJL STREET STEE NEW YORK Feb 24 A H.-A A 0 point drop In Republic Iron and Steel preferred olow follow ing ng the suspension of the dividend was the spectacular feature at the Irregular opening og og today's stock market Republic common com corn cornmon mon lost 2 points and affiliated issues were Jower lower by large fractions to 1 point Crucible and Lackawanna Lackawanna reflecting point distinct dis dis- dis- dis pressure Rails Rals and strengthened un under er lead of Canadian Pa and United Fruit but the trend among active specialties and miscellaneous Issues was downward Preliminary foreign ex exchange ex- ex x- x change rates eased on covering of speculative contracts In Independent steels sustained further losses during the morning and General Electric Studebaker Studebaker and the tobaccos eased The market became firmer before noon under un un- un der del the Influence of Investment and speculative rails rais Canadian Pacific Delaware Lackawanna Western Vestern and ad Rock Island rose 2 to 3 points point and other tal and coaler averaged 1 point advances Market Street Railway prior preferred rose 4 on declaration of on an a Initial dividend Motors and kindred specialties oils ois notably Mexican Petroleum and California Petro retro leum chemicals and mall mail mal order and chain store etore shares also were In process of oX further accumulation Call money opened and Cal re renewed renewed re- re Into next week at 5 6 Y per cent Popular trading stocks were quick to re respond re- re spond to an easing of the call cal money rate Interest was wa shown to a large extent In a wide Ide assortment of low priced railroad Is Is- Is sues especially St. St Paul Paui Rock Island and I. I Southern Railroad all of Iland which scored al ma ma- tend advances advance Republic Steel preferred mo was wa supported and gained 6 points over Its it early break Several advance were also Is effected In Coca Coca Cola Cola Houston Oil Com Corn als Tabulating Recording and Oi others Retail Stores Store broke 4 points point other on heavy selU ing ing sel- sel