South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-02-16

a AN4 NAtA cutting III prizes Va NOP-
per to L cents per pound reported
yesterday did not materially affect
the prices of copper shares. over
1000. goo pounds were reported sold
between II and II II cents. Utah
copper stock, however. and Anacon-
da shares sold off less than 1-2
point The only Interpretation ap-
pears TO be that a market around
Il cents might stimulate buying and
consequently production.
The pool in Royal Dutch Petro-
leum made a vigorous market in
that issue and carried the price TO
- IA at the close, a gain of points
for the day. While there may be
some basic reason for an advance,
the level of quotations now obtain
ing is credited to manipulation.
The oil stocks generally were in
favor. Most commission houses III
their comments on the market out
look regard oil and automobile
shares as promising ISSUES from the
bull viewpoint.
American Steel founderies had
some further recovery. 1t is under
stood that buying by the inside ele-
ment began around 20. This stop
ped the decline There was a fair
volume of trading yesterday and the
price closed near the top at 76 rs.
The revival Of rumors of south
American financing" by a syndicate
of Chicago and New York bankers
has led to a detailed investigation OF
the situation by a Chicago bank. It
found that not only does South
America need no financial assist
ance but the principal LAtin-Amer-
lean countries are inclined to loan
money abroad TO help in financing
foreign trade and adding to the ia
vorable trade balance already en-
joyed. Argentina has arranged to
make a series of loans TO France,
Great Britain and Italy for this pur-
pose.
The Standard Oil Company of New
Jersey has sent a commission of six
experts 20 England enrOute to Rou-
mania TO survey the properties Of
the country and arrange for its res
toratiOn TO peace operations The
company knows practically nothing
Of the condition of its property, it
having been reported as being in all
stages of repair and destruction. The
report of the experts will determine
for stockholders whether a once
vast asset still remains an asset.
Munition manufacturers and con-
Germs interested in the passage of
the war contract valuation bill are
growing anxious over the delay in
putting through the measure. Only
a little over two weeks now remains
for the possible action by existing
congress, hence there seems to be
some danger OF the measure not be-
ing acted on at the present session.
The American Locomotive COM
pany has distributed orders for the
steel requirements for 10 locOmO-
ives, for which it has contracts
from railroads in this country. 1t
is stated that approximately 5000
10 10000 tons of steel plates have
been ordered thuc far. Pres't John
son, of the Baldwin Locomotive
works, has announced the receipt
Of orders for A locomotives for for
eign delivery.
The F. W. Woolworth company
for the year ended Dec. 81. 1918.
shows a surplus of S4,9S1,5O7, equal
TO Sq96 a share earned on $50. 0OO,-
600 common stock. War taxes paid
in 1913 and preferred dividends
have been deducted. In 1917, when
no deduction was made for war
taxes the surplus available for the
common stock was $S.359,S49, equal
10 S1G.7z a share.
Bar iron price reductions affect
ing all grades 10 percent and more
indicate the trend OF the market un-
der pressure of limited demand. This
is the first cut in iron prices.
The Shattuck Copper company
has declared AZ quarterly dividend
OF - Genus = SlldEEs ttlu poltu " ANAl
90 cents three months ago, payable
April 10 to stockholders Of record
March 81.
The monthly bulletin published by
CASTOR. Williams & Wigmore con-
tains the following trade items:
II is estimated that the total dis
bursements Of the government for
the year ending June 20 next viii
amount only TO $1,000, 900, 600 in
stead Of $50, 100000 coo as figured
prior TO the signing OF the arms
tice.
The country's stock OF money OF
all sorts on Jan. 1. 1919, was 81
7SO.793.606, an increase Of approx
mately S1.524,5s5. 900 within the
year.
The total resources Of the II fed
eral reserve banks amounted 20
$5.2Ss.36S, 600 on Jan 4.
1t cost the United states govern