Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-04-06
colo IMPORT REPORTS
GIVES STERLING BOOST
british Pound Touches New High
Record for Year mt 'S4.O8.
Crucible Market Leader.
~ HROADAN MALL.

NEW YORK. April 5.-The excel
tent statement OF the Federal Re
servc Bank on Saturday combined
WIN reports OF further gold imports
winch resulted In sterling touching
q new high record for the year, gave
me stock market firm andcrtone
To-Day In spite OF the blizzard that
cut OFT much OF the Western bust
ness Sterling went to :i.DS In the
carly afternoon. Money renewed at
per cent. and was offered IT. large
volume ms low as 6 per cent, but
brokers did not want il because :hc
long account IN stocks Is 50 small
me s"canical condition %. ~, ytot (
inafhri is excellent. The only rca-
son t"-nc va. I'm" he.ita'ioa - I'll
VA. That traders cxpcc: 81 the bliz-
zard would cut OFT much OF tho bull
ish enibusiasm tina, has been com
ing IRON the West and because they
iea5cd further complications in
Europe following the action OF
France regarding III. Ruhr Valley.
Crurihic Holds Its own.
stocks opened strong. bu, almost
immediately sold OFT two and three
points all along the line Crucibie
was about the only issue TO hold IT.
own. and 1t remained firm around
'2ho. Other speculative favorites
were strong. Even steel yielded 10
the selling OF tn. street. After the
none: parkc, opened crucihie be gan
moving upward and continued the
leader OF the day in point Of strength
although some others exceeded II IN
act!"ity. Before the close Crucibic
had cold as high as 27l IL.
Corn products distinguished Itself
almost from the beginning OF the
market. Il sold cx-dIvidcnd l-2
per cent. but made that up when
others we're st!li weak and touched
the highest prise recorded for more
than year when II sold At .9i-2.
United States Realty. that. was
strong last week wac hcavy in the
morning. but quickly rallied and
gained more than iivc points before
It's advance vas checked. Intcrna-
tionhl Motors was one ~ the new
favorit.s. The company represents
tn" motor end OF the old Wright
Martin Co The stock was recent
l. selling around ITO Ia l25. 1t
more than twenty points in about
Jam hour.
Raw Sugar nj IT.: Cents
Raw sugar arriving from cuba
sold at nae cents 1T New Yors
This il the highest price At wh,cn
sugar ever sold In this market The
natural result OF this wss an ad-
vance ia the price Of all sugar
stocks.
The Stutz situation remains an
changed except that one excited odd
lot investor. who WAS short Of thu
stock. tried TO cover and foun! no
stock ava!ia Die under $1,000 /, share
There NAB no record OF any actual
trading. The Street is curious to
see how the stock exchange viii ge,
out Of the situation II has jumped
into. Never before has the exchange
done what IL has done now In re-
gard to Siutz. Brokers are power
less. but any customer who has a
contract calling for the delivery Of
Stutz can go through the broker 10
the cuntomcr. and take him into
court IL he does not make good.
Can't Control Customer.
| The stock exchange can have no
control over any customer. brokers
themselves arc protected from loss
because all transactions on the cx-
change arc for the account and
broker guarantees 10 do is 10 get n
may be. The odd-lot situation in
Stu;z is extremely interesting
Studc Jaker was u leader in the last
few minutes OF trading and competed
with u. ). steel for honors, A stock
dividend was aaid TO he the reason
for the great activity.
Passage by both Houses OF Con-
Eress OF the bill permitting the
Reserve Bank 10 charge banks rates
varying in accordance with their
BORROWINGS is supposed TO be blow
at speculation in Wall Street. 1t
made some traders hesitate today.