The Washington herald., 1920-03-27
STOCK MARKET
VERY STRONG
Money Drops to SO on Call
and Pool Operations
Are Resumed.
SIROMBERG A FEATURE
Stock Follows Action Of
Stutz Motors and Scores
Sharp Advance.
STROMBERG A FEATURE

New York. March 26.-The mar
ket opened with burst of activity
on the uIturn. and many issues
scored extreme advances, due large
fy to the better feeling existing and
the scramble on the part of the
heavy shor. interests to cover COM
the entire days proceedings was
strong. and many predictions were
made that the market should now
resume a steady upward course in
asmuch as 1t had experienced the
expected shaking out.
Money was the favorable feature
of the day, ranging between 3 and
per cent, and closing at the low
quotation. This is the lowest call
money has been in months, and al
though much comment was heard
on the way the money market is be-
ing manipulated, the more substan-
tial element believed that the Fed
eral Reserve Board would do moth
ing drastic unless pooling interests
gave indications of overstepping
themselves.
Pools Active.
Pools were again conspicuous in
many of the leading issues. and had
little trouble in running quotations
UP, squeezing many short sellers on
the way. This was particularly so
with regard to the so-called Allan
A Ryan pool in Stutz Motors and
Stromberg Carbureter. Stutz con-
tinued its upward swing. scoring at
the top a total of nearly IT'S points
during the past two weeks. The
announced increase in capital to
etc fxyfl hos -
basis for the rise in the stock, and
it is expected that a policy of this
character will continue for some
time.
stromberg Carbureter.
A few days ago it was mentioned
in this column that something IA
Vorable could be anticipated in
Stromberg stock marketwise. The
stock was then selling around 20.
The writer's prediction was based
solely upon facts-facts that could
not help but play a prominent part
in an extreme upward swing. These
facts are that Stromberg is in the
same favorable position as. Stutz
Motors and backed by the same in
terests. 1t will occasion no surprise
to shortly learn that Stromberg
stockholders will come in for some
thing out of the ordinary in the
way of rights" or a stock divi-
dend. The company's business is
enormous, and expansion is in or
der. Just how far Stromberg will
follow Stutz in the market Is a
question. Its position still seems
favorable.
The Coppers.
As mentioned in this column yes
terday the Coppers seem to be set"
Today's proceedings bore out pre-
dictions made yesterday completely.
Buying of the leading Copper is
sues was of the best, and it would
not be surprising if something big
was under way: John D.. Ryan.s !
statement on the copper, situationt
naturally had it's effect, and those
who have the faculty of reading
between the lines" did not long hes
itate in placing their commitments
on the long side. The copper mar
ket today is far better than it has
been in years. Likewise the tech
nical position of the stock market
for Copper stocks.
Gold.
The expected foreign gold ship
ment was again tai ken up today. !
New stories made their appearance. |
Some were to the effect that a |
steamer bearing a heavy consign-
ment of the precious metal had all
ready been landed at Halifax and |
Montreal. Another quiet tip" was
that some of the consignment would |
come over the border to the New
York sub-treasury within the next
few days. Whatever might be said |
of the situation. the gold story has
been IA carat from a press agents
point of view