davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1920-08-31
New York Futures
New Orleans Cotton QN Aeeacfatad praxs
BY AssOcIattd FTts5 n n TfSt.


 New Orleans, August 90.-Extreme- ly heavy selling hit the cotton market on the opening today and remained with it throughout the session, with the result that closing prices were at the bottom, at declines of t99 to 200 points, the full limits to fluctuations allowed under the rules of the cotton exchange being reached on several months. De- tober fell off to 26.45c, as compared with 2s.45c on the close Saturday, and March fell off to 24.15c, as compared with 26.51c.
 The better weather than expected over the belt was the main reason for the selling around the opening, and for some time after. but in the afternoon there were reports of weakness in ths interior spot markets which hastened liquidation of long contracts and brought about the weakest stage of the session. These reports concerning spots were confirmed, for Houston re. ported break of 250 points on sales of nearly 5000 bales.
 The weakness of Liverpool, the un favorable view of foreign political news and the bearish tone of weekly reviews of trade in cotton goods in creased offerings. The weather map indicated no great amount of rain ovef the belt and the forecast called for dry weather over the greater part of the cotton country.
The Birmingham age-herald., 1920-08-31
SAME REACT|ONARY
 CROWD IN CHARGE
 OF MARKET TRADING
Stringent Money Conditions Were Forthcoming Early In Session, Call Loans
 Opening at s Per Cent
Rv Assoofst.d prss,


 New York, August 30.-Factors which contributed to the reactionary move rnents of recent weeks in the stock market were uppermost again today prices of the mercurial issues record ing gross declines of 1 to points.
 Events over the week end. especially the substantial recovery of clearing house cash reserves, were mainly of favorable import, but these seemed to be nullified by anotner furry in the money market and renewed weakness of foreign exchange.
 Signs of more stringent money con- ditions were forthcoming early i'll the session call loans opening at per cent against the previous weeks rul- ing quotation of per cent. Long be- fore the final hour, per cent was asked and this was advanced to 10 per cent last weeks maximum at the close.
 Denial by the French fiscal repre- sentatives here that arrangements for payment of the Anglo French loan have been perfected exerted an ad- verse effect on international remit Ttances This probably was intensified by further extensive offerings of bills on, London and Paris.
 Following last weeks course. rails were again the sole stabilizing influ- ence in the stock list. although state ments of July earnings submitted by the interstate Commerce commission were unsatisfactory for the most part.
 Motors and their accessories, oils. chemicals, steels and equipments were most susceptible to bearish maneu- vers, but made irregular recoveries on the better tone of transportation at the end
 Speculative railway bonds were va riahly higher, but Liberty issues and foreign bonds registered only nominal changes. Total sales, par value. ag- gregated s7,175,0 900.
 Old United States bonds were un- changed on call.
The Birmingham age-herald., 1920-08-31
DOWNWARD SLIDE
 IN WHEAT RECORDED
 IN THE CHICAGO PIT
By Associated press

Chicago. August 3o.-Wheat slid down. ward in price today largely as a result of the slowuess of export demand. clos ing quotations being heavy, 27sc to 4c net lower, with December S2.S3c and March S22915
 Corn finished Ac to 4c down, oats off Sc to %c, and provisions at a setback of 5c to S5c.
 Talk was current in the wheat pit that foreign governments were having some difficulty in financing their purchases of grain. However much or little truth there might in such gossip, the market here gave plenty of indication that the larger European buyers were temporarily keeping quiet. On the other hand. lib- eral sales to Italy last week were con- firmed. and also considerable business with other transatlantic countries. Bear ish crop estimates from Canada and from Oregon, Washington and Idaho at tracted some attention.
 Tn the corn market larger receipts, to- gether with the prospect of a continued free crop movement, did much to weaken values. Besides, field advices were gen orally reported favorable. Oats held rel atively firm, but yielded somewhat when notice was posted of a big increase of the visible supply
 Provisions advanced with hogs and then reacted, owing to packers selling of land. The selling was apparently based on the downward slant of grain.
The Birmingham age-herald., 1920-08-31
Cotton Seed Oil

New York August 3o.-Cotton seed oil was lower under scattered liquidation prompted by the weakness in cotton ana easier trend of other markets. Further tenders of 500 barrels and continued dull ness in the trade circles gave adVan- tage to the bears. Closing bids were -1 to 3s points net lower. Sales. 3900 bar rels Prime crude nominal; prime sum- mer yellow, spot. $11s5; October, sl25o' December, s12S2; March, sl3@; prime winter yellow and summer white nori- nal
The Birmingham age-herald., 1920-08-31
MARINE NEWS
By Associated Press


 New Orleans, August 30.-Cleared Eastern Sun, Rio Janeiro; Holden Evans, Tampico; Lewis K. Thurlow. Santos; New Columbia (Br). London; Norwich City (Br). St Nazaire. France; Uberaba (BraziD, Rio Janei- TO via New York: Wilhelm Jebsen, Tampico.
 Port Eads, August 30.--Arrived: Az wimoon. Tampico Author (Br.). Liver pool; Bradford City (Br). New York Eldorado, Mexico; Lake Elizabeth, Nuevitas. Cuba; Metapn, Bocos del Toro; P. Claris (Span), Santiago; West Cawthon. New York, Yuma, Frontera.
 Sailed: Admiral Wainwright. Gal veston Amste1dijk (Dutch), Rotter- dam via Norfolk; Ttenas, Bocas del Toro via Havana. Kingston and Chris tobal; Edward l.. Doheny. Jr.. Tam pico; Harold (Nor.), Santiago; Omoa (Hond). Omoa via Port Cortez Shen- andoah. Mobile; Sinaloa (Nor). Glen fuegos and Manzanillo-
 Mobile August 30.-Arrived: Peeks- vile, New Orleans: San Martina, New Orleans; Yuifukp Maru. Port Arthur, Texas; Shenandoah, New Orleans; H. F Dimock. Port Barrios; Sagua. Sagua la Grande; Inspection, Matanzas.
 Sailed: Lake Yipsilanti, Havana.
The Birmingham age-herald., 1920-08-31
Money Market

New York. August 3o.-Prime mercan- tile paper s per cent. Exchange heavy; sterling 6o-day bills. 3.50ss; commercial 6o- day bills on banks, 3.5oss; commercial to-day bills, 3.497s; demand, 355; cables, 3.55s4. Francs, demand 69o: cables. 6.92. Belgian francs, demand 7.36: cables, 7.3s. Builders demand, 32.0o; cables, 3212. Lire, demand, 461; cables, 463. Marks, demand 200 cables, POI. New York ex- change on Montreal. 104 per cent dis count. Government bonds irregular. railroad bonds firm. Time loans strong; 60 days, 90 days and six months. s1a@Sa4 per cent Call money strong, ruling rate. IS per cent; bank acceptances, 6A per cent. Bar silver, domestic, 9915 foreign, 9914; Mexican dollars, ITS
The Birmingham age-herald., 1920-08-31
BREAK IN COTTON
 WAS SENSATIONAL
 DROPPING SID BALE
At the Final Close the Mar ket Was Weak at a Net Decline of 15 5to 200
 Points
ev A,,ooiated Press


 New York. August S0.-There was a sensational break in the cotton mar ket today, nearly all the active months selling 200 points below the closing quotation of saturday. where the de- cline was checked by the maximum fluctuation rule. Pressure continued and most positions closed a the min imum prices, with December quoted at 25 soc compared with 27.95c, the high point reached on the rally of Satur- day The general list closed weak at a net decline of 155 to 200 points.
 There appeared to be no one par ticulsr influence in over Sunday news to account for the revival of bearish sentiment and renewal of general selling. The impression appeared to be, however that the speculative short interest had covered on the rallies of last week and the improvement in futures had failed to stimulate de- mand for either good sor spot cot ton in the south This, combined with nervousness over labor conditions at home and abroad, particularly in the coal mines and prospects for better weather in the south seemed largely responsible for the weakness. First prices were 30 to 75 points lower and the market broke 40 to 16O points during the middle of the morning.
 Rallies of 20 to 80 points followed on covering. but otherwise there was no demand and another wave of sell ing sent the active months 1S0 to 200 net lower during the afternoon with October selling at 27.70c and January at 25.15c. Business on the early break was active. but the market was com paratively quiet later and showed less excitement than might have been ex- pected in view of the sensational price movement. Two more private crop reports were published, one making the condition 67 and the 6S.2, but they attracted only passing attention. The eight private reports so far issued placed the condition at 69 on the av- craze pointing to a deterioration of six noints for the month
The Birmingham age-herald., 1920-08-31
AN OPTIMISTIC OUTLOOK

1ieved holders would accept below the last sales price, which was on the oasls of 12.04 for centrifugal
 There was nothing new in the re- fined situation, with prices ranging from 17c to l710c for fine granulated. Some little export inquiry is reported, and while not much demand is noted for domestic account. it was sald that a, better inquiry was reported Tn sec ond hand sugars, which are selling pe- low the prices asked by refiners.
 The continued weakness in raws leo to fnrfher selling in sugar futures and closing prices showed declines of ao to s4 points The opening was steaay and prices at one time were To points higher for active positions, but there was renewed liquidation in the alter noon, and together with some hedge selling accounted for the weakness The decline in other commodity mar kets also had some effect, and closing quotations were at the lowest of the day.
The Birmingham age-herald., 1920-08-31

Atlantic Coast Line lst As, bid. a Baltimore & Ohio cv. 41ss ... 6s Bethlehem Steel ref. 5s .. ISi4 Central of Georgia con. 5s, bid so Central Leather 5s .... 90 Chesapeake X Ohio cv. 5s .. s0% Chicago, E. X Quincy joint Is 95is Chicago. Mil. & St. P. cv. 41ss ... 70 Chicago, R. I. & Pac, Ky. ref. As 67A City of Paris 6s ............ VI l2 Colorado X Southern ref. 41ss 69 Denver X Rio Grande con. As ... 6S7s Dominion of Can. 5s (193), bid S6A Erie gen. Is ... 46% Illinois Central ref. As ....... 71ss Inter Mer. Marine 6s s,....... s1A Kansas City Southern ref. 5s... 67lk Liggett & Myers 5s, bid ........ 751i Louis & Nash un. IS ........ 7s$ Mo. Kan. & Texas 1st 4s .... 55 Missouri Pacific gen. As ....... 56is New York Central deb. 6s ..... 9oN Norfolk & Western cv. 6s .... 10ois Northern Pacific As ..... 75L Pennsylvania gen. 5s .......... s5 Reading gen. As ........t.... S1
 Republic l. & s. 5s (1940). bid.. S6
 St Louis & San Fran. adj. 6s 65ia Seaboard Air Line adj. 5s . 394 Southern Bell Telephone 5s, bid 7s Southern Pacific cv. 5s .... 97is Southern Railway 5s - s21s Southern Railway gen Is ... 591s Texas & Pacific 1st, bid ~ S1
 Union Pacific As - so
 United Kingdom of c. &
 I. 515s G937) ......,... s14 U. S. Steel 5s ... 92L virginiaCar. Chemical 5s, bid .. s1la Wabash 1st. bid ..... s5
 wilson X Co. cV. ss ......-.....a.. SSss
The Birmingham age-herald., 1920-08-31
Naval Stores

Savannah, August 30,-Turpentine steady S1.30@1.40. Sales, 1SS; receipts 330 shipments, 1,162; stock, S,ooo. Resin steady; sales. 1O4; receipts, l'ls4; shipments, 4,624; stock, 41,4S8. Quote: B. D. E, F, G, H, I, K, NJ, N, WG. wv, $12.75.
The Birmingham age-herald., 1920-08-31
Spot Cotton

 New Orleans, August 30.-Spot cotton quiet 2bc lower Sales on the spot. 1o2 bales; to arrive. none. Low middling, 1975c; niddling. 3o5oc; good middling, B 75c. Receipts. 1,425. stock, 2o3355. New York, August So-Spot cotton quiet; middlng, S225c.
The Birmingham age-herald., 1920-08-31
London Money

By NssocIdted PTtss
 London August 30.-Bar silver. 595s i'd per ounce. Money. 512 per cent. Dis count rates short bills 61a per cent Three month bills 6a4 per cent.
The Birmingham age-herald., 1920-08-31
Liyerpool Cotton

Liverpool. August 50.-Cotton, spot quiet. prices higher; good middling 26.17c; fully middling 24.67c; middlins 2342c; low middling 1s.62c; good ordi- nary 1617c; ordinary 15.f7c. Sales, 1000 bales. including 3.100 American. Receipts. 4.000 bales. including 1000 American. Futures closed irregular. August 21.07c; October 2032c; Janu- ary 19.41c; March 1S.92c. May 1s.47c; July 1S.l6c.
The Birmingham age-herald., 1920-08-31
New Orleans Futures
 By Associated Press

New Orleans. August 30.--The cotton market closed easy at net declines of 199 to 200 points.
The Birmingham age-herald., 1920-08-31
Port Movement

 New Orleans: Middling, 3o50c, receipts. 1,425 sales, 120; stock, 203, ,335 Galveston Middling, Bic; receipts, 5,43c; exports, 6,530; sales, 420; stock, 110,s6S. Mobile Mddling, 3050c; receipts, 5o; sales, 303; stock, 52,630 Charleston: Middlng, 35c: receipts, 50: stock, 224,252.
 Wilmington: Stock, 27.o53. Texas City: Stock, 5,163. Norfolk: Middling, 32c; receipts, 2oe; sales. BIO; stock, 24,6S6. Baltimore Stock, 3,774. Philadelphia: Mddling. a25oc; stock 5,544.
 New York: Middling, 32.24c; receipts, 396; exports. 3,O46; stock, 2s,61O. Minor ports; Stock. 1,7l3. Total for day: Receipts, S.42a exports, e,576 stock, 703,703. Total for week: Receipts. 14.26o; ex- ports, 9,776.
 Total for season; Receipts. 1S5.562; ex- ports, 13s, POI.
The Birmingham age-herald., 1920-08-31
Chicago Live Stock

Chicago, August 30-Cattle: Receipts, 5000. Choice steers strong to steady; medium good grades slow to 25c lower; common grassers unevenly 15c to 40c lower.
The Birmingham age-herald., 1920-08-31
Sugar Market
 0v Asnoci1fed presa

New York. August 30.-The local market for raw sugar was dull and prices are entirely nominal. There was sale of a small lot of Perus at sA eff and 300 tons were offered at 9a4 c. without being taken. There were no sales of Cubas. although it was be-
The Birmingham age-herald., 1920-08-31
Chicago Futures By Associated Press
Cash Grain

By Associated Press
 Chicago, August 30.-Wheat, No. : red. s2.54- Corn, No 2 mixed, s1.53 e 1.5e; No. yellow. s1.53@1.60. Oats, No. 2 white, ssA @71Ac; No. white, 66A Q69%c. Rye. No. 2. s1.9Sh @2.04. Barley, st @ 1.10. Timothy seed, ss.50@ 750; clover seed. $25@3o. Pork nomi. nal. Lard. s1s.45; ribs, s14.5o@15.5o.,
 St. Louis. August 30.-Cash wheat No. 1 red winter, $2.54; No. 3 red win ter. s2.50d2.5f; December, s2.34 bid, March, 2.3f. Corn, No. 1 white. S1.57; No. white, s155; September, s1.41 A i; December, sf.1S7s. Oats, No. 2 white; 70m10Nc; No. 3 white, 69@7oc; Sep tember, s7hc; December. STAG.
The Birmingham age-herald., 1920-08-31

New York, August (SpeciaL) )-From four men, each of whom is qualified Go speak of present-day conditions by long experience in finance, industry and trade. have some statements within day or two. three of which are encouraging and one tinged a little with pessimism. These four men are William L. Saun- ders, who is president of the American Manufacturers Export Association; Otto H. Kahn, Frank A. vanderlp. and the fourth. while readily gving his views. prefers to remain impersonal.
 Mir. Saunders statement is possibly the most gratifying. partly because of his long experience as president of one of the greatest of American industres-the
 lngersoll- Rand Company-and also be- cause as president of the Manufacturers Export Association, he has been brought
 into close touch with recent foreign trade conditions.
 In one of the comments which were made by MT. Vanderlp he intimated
 that, with few exceptions, the Ameri- cans who are engaged in foreign trade are amateurs in comparison with the
 foreign trade leaders in Great Britain. MT. Nanderlip did mention the Harvester
 Company and the Standard oil Com
 pany as matching in ability with the
 leaders of Great Britain's trade. He
 might also have included the company of which Mir. Saunders was for a long
 time president and is now chairman Of
 the board For MT. Saunders was one
 of the first of American exporters to seek foreign markets for manufactured
 commodities. He penetraed far into the interior of Europe. He was brought into touch with Central and South America. His representatives were gladly well comed by the gold miners Of South Africa who purchased for use in these mines many of the American machines manufactured by Mir. Saunders company, finding these machines the best of the kind manufa ctured anywhere in the
 world. In this way Mr Saunders found
 himself in personal touch with many for eign markets. He was one of the ad- vance agents, so to speak, in that part of the American export trade which con- sists of American-made machinery. Proh- ably it was due to his long experience and complete mastery of export trade conditions which led to the selection ot MT Saunders as president of the Ameri-
 can Manufacturers Export Association
 AN OPTIMISTIC OUTLOOK
 Mir. Saunders is now quoted as having said that recent conditions justify an encouraging outlook for the industrial prosperity of the United States. and es- pecially for it's foreign trade. He does not seem to agree with MT Nanderlip. who places almost all of the American exporters in the list of amateurs com pared with those of Great Britain. For MT Saunders says that the American exporters have gained an extraordinary increase in foreign trade and against Idifficult, adverse conditions. Therefore he is convinced that if they were able to obtain this trade when conditions were so difficult, they will be able to maintain and ultimately increase it. lie is quoted as having said, "The economic readjustment now in progress m .he 1 United States should encourage Amerl- | can manufacturers to prepare for a
The Birmingham age-herald., 1920-08-31
Rice Market

New c deans. August 30.-Rough rice. no sales; receipts, 15,77o sacks; millers' receipts, 4,044. Clean rice steady; sales, Honduras. 3,636 pockets at 314 910kc. Blue Rose. 1.150 pockets at 3M 0D81sc; Louisiana pearl. 400 pockets at 9Ac; Carolina. 3A 08 11-16c. Bran and pol ish unchanged, no receipts
The Birmingham age-herald., 1920-08-31
MIsCELI,ANEOUS BONDS.

Germany has thirty ht times as much money in notes as is represented by its gold reserve.
 A large portion of Inc usursrs who lend money in the poorer London dts- trict are women.
The Birmingham age-herald., 1920-08-31
New York Bonds Bv Associated Press
By kSsoniatod Press

U. s. 2s. registered, bid ..,-j. 1o1 U. s. 2s. coupon, bid ......Y.. 101 Us s. 4s. registered. bid ......... 105 U. s. As coupon. bid ....,... L.. 105 Panama 3s. registered, bid .L... 77 Panama 3s. coupon. bid ....i .... 77 American Smelting & Refining 5s 741s American Tel & Tel. cv. ss ... 95ts Ang1o-French 5s ....... y...... 9s1s Atchison gen. As ....... 74A
The Birmingham age-herald., 1920-08-31
Interior Movement

Rouston; Middling. 2s.75c receipts, 9,2s5 shipments, 5.slS; sales, s.Ss6; stock, 24675.
 Memphis: Middling. 34c; receipts, sl4; shipments, 1,171; sales, 200; stock, 259,3sl. Augusta: Middling, 32.50c; receipts, 3; shipments, 541: sales. 120 stock. 44,296. St Louis: Middling. 3250c; receipts. 374; shipments, 374. stock, 1O.27s,
 Atlanta: Middling, 34c.
 Little Rock: Adiddlng. 31c; stock. l5,l96. Dallas: Middling, 29. 45c: sales, 2,56o. Montgomery: Middling, 33c.
 Total for day: Receipts, l0,6OS; ship ments. 7,705; stock, 545,S26.
The Birmingham age-herald., 1920-08-31
Metal Market
 By Associated Press

New York, August 30.-Copper nomi- nal; electrolytic, spot and third quar- ter 19c. Iron steady; No. l northern, .$50a51; No. ? northern, $4S@4s; No 2 southern, $45@46. Tin easier; spot and nearby, $46.50: futures, $46.75. Anti rhony, $7.25. Lead steady; spot, s9. Zinc nominal; East St. Louis delivery. spot, $S@s.15. At London, spot copper fs4 15s: futures, f9s 2s Sd; electrolytic, spot, fill; futures, f117. Tin. spot, f273 as; futures. f261 15s. Lead, spot. f3s 10s; futures, f36 15s. Zinc, spot, f40; futures. Al los.
The Birmingham age-herald., 1920-08-31
By Associated Prsss IL A.t-$ 10

New York. August 30.-There was some buying for either Brazilian or uropean account in coffee futures early today accompanied by reports that the coffee exchange at Hamburg. had petitioned the government to re- move the coffee embargo on import ations. This created some little inter est here and tle opening was l7 to 22 points higher. but the advance met scattered selling. which become lit tie more active following reports of an easier turn in Santos. December sold off from $S.96 to ss.s0 and May from $9.7s to s9.50 or back to about Fridays closing quotations with the market closing net unchanged to { points lower. September $s1o: Octo- Der $8.30; December $s.75 January ss.s5; March $9.30; May $s.5o; July $s.7o.
 Spot coffee was reported in moder- ate demand with Rio IS quoted at s% c and Santos 4s at 14@15Ac. Not many cost and freight offers were in evil dence. but Rio Is were quoted s11.75 London credits.
 The official cables reported no change in the Rio market. The early cable showed an advance of 25 to 325 reis in Santos futures, which were later quoted unchanged to 125 reis low CT. Rio exchange on London was 1-16d lower. Brazilian port receipts 53.o0o; Jundiahy receipts 39,00o.
The Birmingham age-herald., 1920-08-31
Dry Goods

New York. August 3o.-Cotton goods were quiet with prices easing in the dry goods market today Yarns were lower and inactive. burlaps in better demand. silks quiet and wool goods unchanged.
The Birmingham age-herald., 1920-08-31

Produce
 By Associated Press Chicago. August 30.-Butter weak; creamery 43m551c. Eggs higher; firsts 4e15 @50i1c Poultry falive). higher; fowls 36d 32hc: springs 321sc. New York. August 3o.-Butter. un- settled at 51155A.
 Eggs. barely steady; fresh gathered firsts 54@57c.
 Cheese steady; average run 21H c 26c.
 Live poultry steady; broilers by freight 36@Ssc: by express 4Oc; fowls S5 @37c: old roosters 25c; turkeys 35c Dressed steady; western broilerf 40@ soc. roosters fresh 36G2 27c; fowls, fresh 276 42c.
 St. Louis, August 30,-Poultry hens 2sc. springs BOG; turkeys 44@s4. ducks 20c: geese 1Sc.
The Birmingham age-herald., 1920-08-31
Liberty Bonds

New York. August sO.-1.lberty bonds
The Birmingham age-herald., 1920-08-31

MUNICIPAL BONDS. Rate. Due. Bid. Ass
 State of Alabapa ..,... 5i2 1856 V sl State of Alabama ........4 1856 s6 90 Jefferson County. f90 to per cent basis Jeffercon Co D. c. warrants 100 l0l City of Birmingham. .5.50 per cent basis
The Birmingham age-herald., 1920-08-31
Potatoes

By Associated Press Chicago, August 30.-Potatoes weak receipts 45 cars; Jersey cobblers s3.10 @3.25.
The Birmingham age-herald., 1920-08-31
LlaIty Einor,ctal Gossip
Fly HOLLAND
ANOTHER POINT OF VIEW

healthful growth of business in foreisn
The Birmingham age-herald., 1920-08-31
Meats

D. S. Clear Bellies-19&d21c. n. S. Rib Bellies-l9&4G7sc. Pure Lard-2l7sc. Compound Lard-f714c. Hams-Rcgular, Ale; skinned. 45e. Pork Loins-40c. Racnn-A2lfn4c
The Washington herald., 1920-11-25

sey, put the quietus on some Of the
romantic rumors regarding the war
said to be waged for the possession
Of the worlds petroleum resources
and markets for oil products. Mr..
Bedford said that while there was
keen competition there had been
nothing savoring Of declared hos
tilities between international COM
panie1. Mr.. Bedford recently re-
turned from a study Of conditions
in Belgium, italy and Holland.
About December 1 the Interstate
Commerce Commission will begin
conferences relative to the consoli-
dation of certain lines In the several
geographical divisions Of the country
which have been used as q basis for
read5ustment of freight rates. This
subject. Of consolidation has been
given a great deal of study by bank
ing interests interested in the vari-
Gus properties Under the .Transpor-
tation act the I. c. C. Is not author
lied but obliged to order such con-
solidations as may be for the public
interest. The outstanding strength
Of the railroad issues has to . very
great extent been due to confident
absorption Of offerings of certain
stocks by persons believing that
these particular issues will benefit
by any action the I. c. C. may take.