Arizona republican., 1917-01-11
MARKET NEWS
BY r. Allyn Lewis

NEW YORK. Jan. l0.-The sweep
ing decision In the supreme court
against the shipment OF liquor from
wet into dry states was sort Of a las.
straw for unfortunate speculative
holders OF Distiilers stock II has
always beef maintained as against the
idea Of the spread OF the prohibition
movement causing losses 10 the trade
that the dry stStes were consuming
a 'arge proportion of what they used
TO consume through the facilities OF
the package traffic. Now this trade
viii be cut off and the dry area will
be really dry Distillers Securities
has It's war profits from the sale o.
denatured alcohol which ought to jus
tify present prices for its stock. but
after these war profits disappear the
outlook win be dubious certainly for
the maintanenee of the present per
.ccnt dividend.
The sudden burst Of activity Of
Plttsburg Coal liz supposed TO be du,
To- resumption Of the pool activity
which was halted by last months
crash by the outlook for The company
because OF the continued shortage In
fuel ana because Of a reported settle
ns.nt with the minority preferred
shareholders who have been object
ing to he plan CT reorganization which
has been held up pending approval
by stockholders This is one Of the
many pool stocks which had been
taken vigorously IN hand near the
crest 81 the December rise.
The market for New Haven stock
showed that even with yesterdays
decline that the measure OF prepare
ton Tor the November traffic figures
had not been sufficient. II was not
81 ct
poor in itself most of other eastern
roads have made a worse comparison
In their net than the SO 900 increase
~ the New Haven. In order to JUS
tify anything like recent prices for
the stock the ASSUMPTION had to be
that tho fortunes Of the road has per-
manenHy turned and were to be con-
sidered rs consistently on the up
grade. II was the upset Of these
calculations that the break to 40
chiafIv effect
Railroads will remain neglected
pending the supreme courts decision
on the Adamson law While the mar
sct IS pretty well liaudnted il is
lust rs well tc remember that stocks
should be bought when they are weak
and not wren they are strong
We are 5old to buy Texas oil for
much higher prices Although it is
now selling ut record prices people
VINO ought to know are predicting well
oyer 300 for the stock
Western Union annual report
shows gross receipts Of sea, 1872 295.
Ton wears ago the company earned
/ $50 900 600 2ross
Their fixed charges decreased $3.73S
for the year.
| balance for the stock is s12.5174f9
This is over II per cent This
stock cannot remain long around pres
ent prices II Is like Norfolk and
Western vas around 10. Nobody
/ wanted II then because ii was duh
tut Western Union selling around 12l
/ everybody viii want ii because II
| will be Up 30 no'nts.
/ Interest identified with &. s. Realty
/ are unable to account for the weak
( negs in the stork. Income from rem
/ tals conservatlvely estimated will
| show net gains OF $150.000 endine
1 ADril 90 mkt. The company stand
I TO lose on IT'S subway work. but which
IL fully covered by reserve funds. Al
Fof the houses and buildings Of the
company 80 '"e'1 filled with tenants
ToDAY'S EVENTS
II. s. Steel tonnage report: Lacka.
wanna earnings luc; Woolworth com
/ mon stock dividend meeting scheduled
In connection with the special ac-
I tivties in the coppcrs there was tall
Of impending large orders from Ca
madam manufacturers who have beei
/ the beneficiaries Of the recent transfer
Of war business across the border
Emphasis was again laid on the fac
that this transfer Of war orders vii
not hurt companies producing the raw
material, Probably a more accurate
explanation for the rise In the cop
bers was that the trading element try
ing to find something to break tn
prevailing inertia, investigated tech
meal position of the copper groul
and found it strong enough to produce
4 fair sized adv"~""
GRAIN @NwME1
Broomhali: 1hv ,0ine markets 70
wheat and corn are now under tn
control of the wheat commissioned
who keep prices steady and do nd