The Washington herald., 1920-04-14
STOCKS SCORE
RAPID ADVANCE
Pools Continue on Large
Scale. Notwithstanding
High Money Rates.
OIL ISSUES IN THE LEAD
These Stocks with Duke
Whelan Group Show
Large Gain.

New York. April 1s.-Notwith-
standing . further Tightening Of
sthe strike situation. and a con-
tinued inflow OF seemingly un-
favorable news along many other
lines. the stock market today dis
hnctly showed that the big fell
lows OF Wall Street are behind 1t
and intend advancing prices irre-
spsctive Of existing conditions.
This in itself. can only mean that
these same gentlemen have q vital
reason for taking such action at
this time. and there are many who
are Of the irn opinion that the
one reason Is to distribute stocks
II 10 common gossip that many
stocks now In the course Of ma
nipulation have little or no value
behind them. and at the most
should be selling far below their
present market quotations instead
OF going higher. However. that Is
not speculation. Pools have these
stocks and pools intend that the
public shall have them. At just
what figures these pools will
favor" the public by passing them
along Is a question. There Is rea-
son to believe that the figures will
be much higher than now existing.
Money and the Federal Reserve.
The most important meeting since
the inception of the Federal Reserve
Board was held last week between
governors of the respective districts.
The purpose of this conference was
no secret. as there could possibly be
but one purpose, and that was to
adopt methods of defiation. Just
what methods will be employed Is
not yet known, nor Is that as impor-
tant as the fact that whatever the
method, the whole country-in fact.
the world-will directly or indirect
ly. be seriously concerned. Notwith-
standing its extreme Importance,
however, but one paper in New York
carried q story on the conference
being held.
Significant silence.
This attitude on the part of the
country's leading publications Is
taken as significant Of conditions In
the speculative world at the present
time. Just why an important meet
ing of this sort should have been
publicly neglected Is beyond COM
prehension, although there are many
who have formed opinions.
Since that conference speculative
funds have displayed a hardening
tendency, but only spasmodically.
Money seems to be plentiful, not
withstanding the ever-increasing
special interests" demand; that Is,
those interests now behind the ma
nipulative wheel. If this state OF
affairs can be taken as a criterion
of what the Federal Reserve Board
intends doing toward defation. then
IL can be readily said the old bal
loon will sail high for the time be-
ing at least
Some stocks were at their highest
point today when call money reaclt-
ed IL per cent, the highest Of the
day. There was no check TO the
rise, which can only mean that the
pools were we'll supplied, and 1t is
significant that these same pools
must feel fairly sure Of their foot
ing to continue manipulation along
the broad lines displayed today in
the face OF seemingly high money
rates It Is an interesting situation
and one that should be closely
watched.
Duke-whelan Group.
A. has been mentioned in this
column several times OF late, the
Duke-whelan crowd, so-called, has
been prepared to renew operations
on a large scale In both United
Retail Stores and American Tobac-
co Securities. Today's market would
seem to indicate that these opera
lions have now been started. Share
holders Of both companies are said
to be in an extremely favorable
position, should present plans go
through. These plans call for the
dissolution Of the American To-
bacco Securities Company. in which
event holders Of both Tobacco Sc
curities and United Retail Stores
will be handsomely rewarded in
stock of the American Tobacco
Company.
Haskell-Barker.
An important announcement Is
forthcoming in the affairs Of the
Haskell-Barker Car Corporation.
In some quarters 1t was said that
the announcement might be made
tomorrow. While II Is not definitely
known just what the announcement
will be, 1t is generally known that
IL will be extremely favorable to
present shareholders. The company,
so the story goes, intends to greatly
expand operations, and consequently
a large increased capitalization is
looked forward to. Some are Of the
opinion that shareholders will be
given valuable"rights," while others
have il that the company intends
declaring an enormous stock divi-
dend. whatever may take place,
the stocks action during the past
two or three weeks has reflected an
important pending development.
Gripping. Pan American Petroleum.
-, Pan American Petroleum was
Widely tipped during the days ses-
sion and in fact many traders who
were supposed to have q little in
sight on the situation forgot" to
place trades because the tip was
so widely circulated. 1t was just
another case Of how stocks are
being manipulated at the present
time. Every messenger boy In the
financial district heard the good
thing" and usually good things"
are not favored with publicity.
However, Pan American Petroleum