Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1917-01-21
MARKET NEWS
BY r. Allyn Lewis

Many pools whose activities were
abruptly halted by the December
crash are re-aligning their forces
There was the Atlantic Gulf pool. one
in Columbia Gas. and others in Ohio
Gas and Pittsburg Coal
Corn Products, which has succeeded
IN disappointing all the outside trad
ers, who bought the stock on the rise
above 20, poked its head above the
general list and showed considera BILE
strength. An important firm which
| mas been reported buying it from "a
down to 20 is reported forming a new
pool and has already received sub
stantial support With time money
lower than fol some time, conditions
are very favorable to pool operations.
Simply because American Locomo-
tive is going 10 issue its semi-annual
report and is going to make an ex-
cellent showing is no longer tipped as
a reason for pulling the rest of the
GROUP. The report will be made puo-
lie within the next week or so. From
these who have been well informed or.
It's affairs, it is understood that the
statement will be Fan Impressive one
The exact figures ere not obtainable
today, but .hat they will be almost as
good as the wonderful report of last
=
flrst SIX months of the last year they
earned SIS a share; In the second half
the earnings were $28 because they
included profits or large munitions
contracts. The six months ended
January first last will show some
thing around the same figures and
the second half will contain the NUM-
tons profits. A proper approxima :
ton Of the meaning of the forthcom-
ing report may be gained only bv
comparison with the same period OF
last year, and not by figuring the
annual earnings by doubling those
OF the first six months
The liquidation in Bethlehem Steei
is more responsible for Yesterdays
decline than anything else Certain
war stocks which were exploited like
Baldwin, have passed out of specu-
la;ion. Others which have made
good remained and are likely to be
secIlatVe features as long as the wal
continues. American Locomotive is
one of these, Hides and Leather is
another The earnings of the latter
STOCK VIII be published next Tuesday.
There is a big short interest eawg6t
in the Marine stocks.
Little attention has been paid either
on the floor or in commission houses
to news developments of the Gav.
The annual report OF Shattuck-Ari-
iona for year ended December 81 will
be issued in about a week and will
show balance available for dividends
in excess Of $2,9G0,000, or about SIS. %
per share on the $4,000 shares ont
standing after payment of dividends
aggregation Az per cent or 81. 6e2. 500
and charging off depreciation of
equipment company will credit ever
Sl315,0O0 to its surplus account as
compared with 1851. 0e0 same period
in 1915 after payment OF $S75.0OG in
dividends. Production during 1916
was 19,16l,76S pounds copper 3,413,444
pounds lead. 314 91S ounces silver and
in 4,721 ounces gold. Net cost of
copper production was 1858 cents per
pound. compared with S,446 in 1915.
Market for present disregarding
all trade features and easily influ-
enced by orders. either way. Look
for further scalping market. Favor
bulling on all fair-sized dips.
Hire a little salesman at The Re-
publican office. A Want Ad will see
more customers than Won can