Evening star., 1920-03-27
MARKET IS STIRRED
BY LONDON REPORT
BY STUART r. WEST.

WALL STREET, New York. March
k7.-News of the twenty-million-d dol
lar gold shipment from London, while
1t had come in time yesterday to
powerfully affect operations on the
stock exchange. had not been suffi-
ciently known throughout the coun-
try generally for it's full effect to be
shown. The first response this morn
ing was an inflow of buying orders
tower the wires. which lifted prices
sharply all around. The market also
had to inflame speculative enthu-
siasm the sensational corner in Stutz
Motors While IL was not supposed
that the same condition existed in
other of the motor issues. the Stutz
episode was very Gear proof of the
high degree of concentration in the
stock holdings of this class. The short
interest in these stocks, completely
demoralized. rushed in this morning
to cover their contracts AS a rea-'
son Chandler Motors jumped more
than 10 points. and an urgent de-
mand set in for the motor accessory
shares The action Of the high-priced
motors was a reminder. too, that
other high-priced industriaIs were in
the same undisturbed condition.
Big Features Of the Day.
Consequently the buying movement
sought out stocks like Atlantic Gulf.
General Electric. Republic Steel. Mex
'lcan Petroleum. and these. with
Chandler Motors. provided the big
features Of the day.
Steel common, responding to the re-
port which appears very proba BILE
that an extra dividend is soon to be
declared. got up to 106. which meant
almost a complete recovery of it's
entire loss since the middle of last
November. Good buying continued in
the coppers and zine issues: Railway
heavy profit taking all through the
Two hours. but a ready market was
Anyolvtng any important reaction
Sterling exchange was quoted 3.e4,
which meant q slight gain over last
nights omctal closing. but several
ported on special transactions
Street Features.
International Nickel broke away
again today: continuing the move
which started yesterday. It IL UNDER
stood from most reliable sources that
the stock has been under accumula- >
tion- for some time and this seems
to have been completed. The hold
1n4a OF ono Of the former bigh holders
~ the stock have been absorbed and
the stock. II for NO other reason at
all. could be simply responding to q
ever. there are At least two special
reasons for the present move. One
OF than IN that there 10 every nos.
p;bt1ttX that the stock will bs placed
cF dividend basis at the meeting TO
~ held next week and tho other is
that the turn for the better In tho
exchange situation II decidedly favor.
hble for International Nickel.
The company was one Of the big
Gamers during ths. war. but It's
Hes bssn . slow and tedious process.
The company has made several impor.
Sanf changes IN lts plant and ~ now
IN . better position than over to pro-
duce large quantities Of nickel at low
prices. All OF the improvements wore
financed from treasury reserves. The
eutomobiis industry 10 consuming
large Quantities OF nickel and largo
Quantittse. Of the metal are needed
abPoad. In addition to It's nickel tho
Of copper. The par value Of the stock
80 02s, but It 10 said to have an asset
yaiue Of $50 q share.
A1lIn0 70 His Ksnasls.
One OF the traders In one of the
Est breaks IL in the habit Of picking
up the low.pricsd stocks He has In
yariably made money acting In this
Tashion. This habit At times has at :
trActed other traders and the pur-
caaser has Invariably made the reply
that he IL simply adding TO the
Kennels"
Comm ercisi travellers Ia Europe
generally prefer the airpiaae to. other
.Snstheds of ira ansportation.
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