Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-10

machines were placed in New York and
that each machine that is delivered is
paid for in American gold
The market situation in Remington,
however, is one that is not so pleas
ing. the selling which has forced the
stock down from above par being
weak -margined accounts
remington, unlike a lot of other is
sues, has never had pool support. and
the company insiders have not tried
TO keep up the price, preferring to
snow in earnings statements rather
than in market fuctuation the real
position OF the company. Some of the
STOCK sold in the present break is
known to have been bought around
20. the holders preferring to let it go
ior what they could get rather than
TO put up more margin.
Bond Market.
Trading in the bond market today
was dull by comparison with recent
standards and price changes were
relatively small Liberty fourth "A $
dropped below So for the first time in
a fortnight. but the decline was of no
consequence when it was remembered
that the high during this two weeks
period was only $3.50. Other liberty
issues were off similarly
Foreign government bonds again
moved indecisively, and those who
were looking for some reflection OF
foreign banking sentiment regarding
the Polish crisis in the operations in
this quarter looked in vain. United
Kingdom 5 II s of 1929 sold early in the
day at s4h. but later hardened 70 S.
which is substantially where they
have been selling for the last week
The 1947s were unchanged at S2ls
and the 1925 were the same as yester-
day, 90&. Belgian government ms
once more got down to their recent
-
tered effective resistance. Swiss gov
eminent SIS were unchanged at 102ss.
France Pays $125,OOO.OOO.
With the announcement that France
would pay off 1925. 100000 or half of
its obligations under the Anglo
French loan and esek a fresh credit,
for the bolance. there was mich dis
cussion as to the terms on which this
new French loan would be granted.
The fact that France has been able
to reduce imports successfully and
every promise of an equality before
long with exports, has greatly i'm
proved its credit standing.
Still it was not believed in local
banking circles that a French loan
could be fioated on any lower terms
than the Belgian and Swiss loans, in
both of which cases the return to the
investor was substantially per cent.
Corporate bonds developed very lit
| tie feature. Hudson and Manhattan
refunding SIS appeared to have found
| a good market at So, and today were
dealt in at 551a Atchison general As
were down from ISM to 1914. New
York. West Chester and Boston AIS
sold at Ala, against a recent high
Of 40.
Curb Market.
| A decided change in conditions wan
noted on the curb market today Sell
| ing pressure was absent in many is
sues. and the tone might reasonably
be described as steady, although at
times there were irregular fuct,ia-
tons in prices due to special factors.
One or two issues were without sup
| port for time and went lower. but
| there was covering Of shorts on the
declines and rallies followed. The pro-
fessional operators were less active
than usual. and there was only mod
crate outside interest in the market
United Retail Candy was in supply
low record at 9. from which there
| was a rally on short covering. Cen
eral Asphalt moved irregularly over
| range of several points. Sweets
company continued heavy around its
recent low mark
A moderate demand for Aetna Elk
| plosives caused an improvement of
| a fraction in that stock. Submarine
| Boat held about unchanged and there
was steady tone in Indian Pack
| ing. although dealings were small.
| Changes in others were confined to
| fractions.
Salt Creek was the feature Of the
| oil list, interest being attracted by
decline of about a point when a block
| of 5000 shares were crossed at about
PIN. International Petroleum yield
| ed a fraction on small selling orders.
| Sinnrnc Pafrn1alp1 after ShnU of
| frmness, declined to it's previous low
| record. and White Oil fell a substan-
| tial fraction, although the offerings
! were small. A heavy tone continued
| in Ryan Consolidated. The Standard
Oils were quiet, with quotations I'M
| changed.
| There was moderate activity in the
mining department. but price changes
were unusually small. Bonds were
dull but steady.
Market Looks Better.
For several days despite the appar-
ent weakness and severe fall In prices
the market has not looked dscour-
aging to people in close touch with
| the sources of the buying and selling.
Houses which act for large interests.
while not openly bullish. have said
that they could not feel bearish with
But it is admitted by those who feel
hopeful that it takes time for pur-
chases of this character to turn the
[ tide.
| Just as bull movement gets over
done and yet goes on for some time
after prices have far exceeded the
value line. so a bear movement also
goes to excess and prices for quite
spell are left to range well below the
value line.
| 1t is believed that the market is in
this position now There is still
however, lot of miscellaneous sell
| ing going on from speculative pools
| and individuals whose credit at the
banks has been weakened by the tre-
mendous decline of the last few
months There is no question about
the buying being very much better
than the selling, but the question is,
when the forced liquidation will have
run its course and the effect OF the
recent scale purchases which have
been going on among the industrial
| leaders will begin to show.
Call Money : Per Cent.
| Call money was unchanged at per
oanf and there is little prospect of