New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-04
Relevant Facts

Studebaker-A banker who has an
intimate knowledge of the affairs OF
this corporation stated yesterday that
sales of the company's automobiles
took a big jump last month. The
showing made, he said, was so good
that officials of the company now feel
hopeful of disposing of all the cars
which they have planned to sell this
year. As for the South Bend plant,
which is working on large government
contracts for wagons, ambulances,
harness, etc, the business in sight, the
banker declared, is sufficient to
keep things booming" for many
months to come.
But all the while the banker was
painting this picture of glowing pros
perity the shares of the Studebaker
| Corporation were tumbling on the
| Stock Exchange in a way to cause the
wiseacres in Wall Street to shake their
heads doubtingly.
J How do you account for this SEN
: sational slump in Studebsker stock II
: all is going so well with the company =
! the banker was asked. His reply was:
! ut has become fashionable to sell
Studebaker stock That is all there is
to it. so far as | can see. From what |
! can learn, most of this selling is for
| short account. There has been some
scattered selling of the stock by
actual holders, of course. That is 70
be expected in view of the big slump
which has taken place.
J but of this you can be certain:
( None of the large holdings Of Stude-
baker have been disturbed. The stock
held by the members of Studebaker
! family and others who have become
interested in the affairs of the corpora
ton remains intact. None of this
stock came out on the market when the
price was down to l5& back in 1913,
nor when it rose to 1875 two years ago,
and have reason to feel that none Of
il will come out now.
This selling which you see now
does not represent actual stock. II is
nothing more than short selling by a
lot of professional spectators who are
selling over and over again such stock
as they are able to borrow in the mar
ket. First thing you know they will
sell themselves into a blind pocket and
then there will be a different story to
tell"
Reports have been circulated that
YOU have been a heavy seller of the
stock for short account yourself"
That" said the banker, ''is posi-
lively untrue
Anaconda Copper.-Production Of
copper in June showed heavy decline
compared with the previous month,
as result of labor troubles on the
company's properties. Total output
for the month amounted to 2O,4OO,OOO
pounds. or 100000 pounds less than
was mined in May, and compares with
/ 2s.1OO.O0O pounds of copper produced
/ in June, 1916. From January 10
June 80 the company produced 1872
$4,000 pounds of copper, against lo4,-
( 500 900 in the first six months OF last
! year
Inspiration Consolidated Copper
June copper production totalled H.
: 100000 pounds, which compares with
II 900 900 pounds in May and 10,50O0O0
/ in June, 1916.
Miami Copper.-This company pro-
duced $4,000 pounds of copper in
the month Of June, compared with
4.9s5.363 pounds in the preceding
month. IN June, 1916, total output
was 4,516,395 pounds. Last months
! production established a new high
record for the company.
Railroad Equipment Orders.-For-
eign and domestic equipment contracts
placed with American manufacturers
since January /, according to a sum-
mary made By Dow, Jones g. Co.. call
for an expenditure of S36l,l52,OOO and
for the consumption of 2,17S,00o tons
OF steel. Orders booked with rail mills
aggregate f,l3s, 900 tons, Of which $780,
600 tons are for foreign account. Car
shops received orders for 1897 cars so
far this year. and locomotive builders
booked orders for 2,73l engines, 1,lO9
of which are for export. 1t is esti-
mated that contract prices for the To-
comotives to be built in railroad shops
as we'll as by merchant manufacturers
amount to more than Sl36, 100000.
Jewel Tea Sales Increase.-Sales fo-
the four weeks ended June Is totalled
sl,l5S,i44, an increase of S2i9,396 over
the corresponding period of 1916. For
the twenty-four weeks ended June l6
the increase amounted TO sl,950,02l, or
37.76 per cent.