The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-04-06
CRUC|BLE BEGINS
UPWARD MOVE
BY BROADAN WALL

New York. April 5.--The excellent
of Saturday, combined with reports
of further gold imports which result
ed in sterling touching a new high
record for the year, gave the stock
market a firm undertone today in spite
of the blizzard that cut off much of
the Western business. Sterling went
to 40S in the early afternoon. Money
renewed at per cent and was offered
in large volume as low as 6. but brok-
ers did not want it because the long
account in stocks is so small The
technical condition of the stock mar
ket is excellent The only reason
there was any hesitation at all was
that traders expected the blizzard
would cut Off much of the buliish en-
thusiasm that has been coming from
the West and because they feared
further complications in Europe fol-
lowing the action OF France regarding
the Ruhr valley
stocks opened strong. but almost
Immediately sold off two and three
points all along the line. Crucible was
about the only issue to hold its own,
and it remained firm around s26e.
Other Speculative favorites were
strong. Even steel yielded to the sell
ing of the street After the money
market opened Crucible began moving
upward and continued the leader y
the day in point Of strength. although
some others exceeded It in activity.
Before the close Crucible had sold as
| high as 27l y. Corn products dis
itinGuished itself almost from the be-
ginning of the market It sold ex-
dividend ~ per cent. but made that
up when others were still weak and
touched the highest price recorded for
more than a year when IT sold at 90 II
United States Realty that was strong
/ last week was heavy in the morning
but quickly rallied and gained mors
/ than FIVE points before its advance
was checked International Motors
WAS one of the new favorites. The
company represents the moor end OF
1.-THE old Wright Martin company The
stock was recently selling around liz
Ito i25, 1t opened today at 40 and
sold up more than twenty points il
about an hour.
! Raw sugar arriving from Cuba sold
I at IAN cents at New York This is
| the highest price at which sugar ever
sold in this market, The natural re-
/ sult OF this was an advance in tbs
price Of all sugar stocks.
! The Stutz situation remains rn-
changed except that one excited odd
| lot investor who was short OF ths
| stock tried to cover and found ne
stock available under 81 600 a share
There was no record Of any actua
trading The street is curious 20 see
| how the stock exchange viii get out
| OF the situation IT has Jumped into
| Never before has the exchange done
what II has done now in regard tc
| Stutz Brokers are powerless. but anS
| customer who has a contract calling
| for the delivery OF Stutz can 20
! through the broker 10 the customer
and take him into court II he doe:
not make good The sax exchange
can have no control over any customer
/ Brokers themselves are protected
| from loss because all transactions or
| the exchange are for the account and
| risk" OF the customers. All that tn,
broker guarantees TO do lis to ge. &
| genuine buyer or seller. as the cas-;
may be The odd lot situation in Slut,
/, is extremely interesting.
| Stude baker was a leader in the las
few minutes OF trading. and competed
| with L, s. Steel for honors. A stocf
! dividend was said TO be the reason To-
| the great activity.
| Passage by both houses OF congress
Of the bill permitting the reserve hani
to charge banks rates varying in &C
cordance with their borrowings ia sup
posed to he a blow at speculation il
| wall street. 1t made some trader
hesitate today.