The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-07-28
MORE SELLING OF
THE MYSTERIOUS KIND
But Toward tho Close OF tie Day There
was q Let-up with Prices e..
EirntnR Up.
Harris, Winthrop & Co. to fidelity In
vestment Association.

Harris. Winthrop & Co. to fidelity In
vessment Associarton).
NEW YORK, July :T.-There was
more selling to-day Of the mysterious
rather abruptly and prices firmed up
somewhat. but the most to DE said OF the
market at the close WAS that 1t was
barely steady. Very ltttle news was In
interesting day. The market has some
appearance tonight OF being we'll sold
out. II fresh liquidation does not start
in the morning. rally would seem 10 be
HARRIS. WINTHROP & co.
The opinion is expressed by analys:Sts
who have looked into the United States
Steel statement closely. that the man
ayers OF the corporation would welcome
a small reduction IN the average prices
for Steel products. In this connection
attention IS being directed 70 the point
that Steel manufacturing interests i!ilN :
ing their own raw material under owner
ship have been IN position 70 make
most extraordinary profits. due 20 the
great increase in Steel prices.
The public is discouraged over the
action OF, the stock market On The lrltfu
States Steel statement. says a private
message from we'll informed brokerage
sources. II Is added that this has pat
the market still further into the hands
OF the professionals and Il large MUM o"F
OF brokers are recommending that pur-
chaseS be confined to reactions
Minneapolis and St. Louis third week
July increase SLABS: from July 1St, IN
crease S29.S32.
Baltimore L Qhio's statement for Juno
and fiscal year verifieS estimates pup
ushed by Dow. Jones 8; Co. July 10. Net
operating revenues as shown py June
statement for full Year were S5-,a4o.e'4
against S32.U55.3a9 IN preliminary STATE
ment issued by the company. IL Is prop
able therefore that earnings on common
stock will be slightly higher than the
7.2 per cent ;han Indicated. Exact tls
ure Will depend upon other income aau
fixed charges. June gross earnings III.
creased only 1914 per cent as connpareu
with higher rates OF gain In earlier
months Road is RON tnparlnS Win
period OF increasing earnings last year:
Thus in June. 1905. gross increased
$TO2S54 or almost 10 per cent over June:
1914 Gross Is still running at record
breaking figures. For June It was $!o.-
S454lS, rs against $l0.2Ul.IiS Tor May
and $luD6t.i3l for October. 1919. lie
only months in which they have ever
REACHED Slu.Q0D.O0U.
At the meeting OF directors OF General
Motors Co. only routine business was
transacted.
Financial News sScllc(lu say = hNseSI-
mcnt buying Is going on steadily. IL
rcstiSatons Show that buying ordct $
from. investors are under the market IL
considerable. volume. We fino them III
United States Steel. Urtcn Pacific, MA
conda. Great Northern and New YORK
Central Man. Investors look Upon good
stocks as cheap. but expect to be able 70
get them lower. and are arranging "
puy on q scale down.
The directors OF the SlrSS Sheffield
Steel & Iron Co., will TAKE up the matter
OF a dividend on common STOCK II tn-N
August meetng. There Is some differ
ence of opinion regarding adrlSaplllty
OF disbursement at present. some OIL
the directorate feeling that earnings
should be used TO pay Tor construction
work and 70 make sure the preferred
dividends. while others are OF the opln-
ION that payment to common stock
holders would be we'll within the pouhnS
Of CONSERVATISM. In first halt OF the
fiscal year. th- company reported earn
iugs equivalent TO $7.i6 share on the
Juuicr issue. or al an annual rate OIL