The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-06
Sharp Liquidation
In Wheeling Stock
Exchange Evident
4A&1.ETT AND SON REVIEW LOCAL
HARRIET FOR THE PAST
WEEE.
DECLARE MONTY SITUATION AND
NEW YORK MARKET, AFFECTS
TRADING.


Howard Hazle;t & Son in their week
y review OF the Wheeling market on
Saturday said: week Of violent liQui-
dalton on the Wheeling Exchange has
just closed carrying market prices down
10 new low records in some cases and
resulting In sharp declines even in the
firmest issues. Positive signs OF husi-
ness revival are still wanting and basic
conditions are on ;he whole not great
ly improved.
We believe that conditions IN tho
Wheeling district are better than they
are throughout the nation al large.
FrSr OF all. Independent mill operations
here are we'll above the national aver.
age. Indeed the showing OF the Wheel~
ing Steel Corporation is very crcditahle.
This in itself Is very gratifying for il
must reflect one 81 two conditions.
Either the Wheeling Steel Corporation
has superior selling organization or
else i, manufactures Superior products.
There are those who hold that opera
tons her" are for ;hc purros" Of re-
sto.nS depleted lines. This We doubt
for VIC seriously question whether any
manufacturer would proceed in the face
Of present rr'Cc uncertainties TO make
w any considerable" amount OF products
merely 10 I'LL his warehouses.
So lacking sufficient evidence 20 the
contrary "" are satisfied to br!ieN"
that this concern IS marketing nearly
everything Il Is manufacturing.
!, is d natura. question however why
IN" Wheeling Steel issues are SO heavy
Il all We have said In It's favor IL true.
Well there may I've two good reasons
FOR this. FIRST OF all II - difficult for
any Issue on any market 10 make pro-
gress against the trend Of the New
York Market Generally speaking. a.
United States Steel goes. :" they all 50.
local conditions 10 the winds. Had New
York shown as much strength rs II has
shown weakness w. would d"UDt!rH$
have another story - ;"ll today.
Ard also: the money market; Fay
rolls are light. business generally Is
not good and rs NItLrol consequent"
bank deposits hAr. SNruEk"n Hence
the clv>.. money market. Th"r" ha'r
bon times THIS week wren ~ hIN'
had firm r;ds for Wheeling St"".. =,
full pc.n, above IN" market Hu' sub
j"c' - our financing the purchase.
which proposals "" wrr" Obliged !"
fur"so. Lu" 10 the state 90 The mon"y
markct
So the ho.dc- OF any local SECURITY
has two hopes. one for Il better stock
market IN New York ana the other for
4 better MONEY marie: - homo.
Nearly all local stocks arc gong INT"
good hands. 'InsId"rS ~" >".i!nS none
Of their own St"rK, =" Tar as "" can
determine. But "lnsIdcra' d" not Per
mi themselves TO Wan n|cr -"nthuS!
aSiir. They buy moderately. lhE m"I
arc N the mark't Cor lots OF securities
but on u declining market they are IN
clned to scale down. That Is l" bay
on every dip and wait for another dip
and then TO buy more.
In our monthly quotation sheet We
rrprintcd a rinancin Newspaper aril"i"
which pointed strongly toward rapid
return 70 normal business conditions
Among tie various arguments present.
completion oc industria. and raj
road rcfinanCInG.
Drflation Of inventories.
Recovering of exchange, TENDENCIES
toward easier money ard Increased par
chasing lowor Of tt" dollar.
Half billion dollar decrease or bank
loans n New York.
deduction uC commercial diScoun'
rate
strong Fedora. Reserve Bauh position.
Copper surplus being turiaiic1.
Restoration of confluence and NJ
longer fear that country is facing bust
ness disaster
Promise Of good crops
Orderly rc4dJuStmcnt o! wage.
Government protection against fI"on-
,n- America with cheap foreign goods
prc-war stock prices reached In dis
regard Of vastly Increased intrinsic VA
ues
World shortage of goods.
Administration of Washington SHOWS
determination TO gl"e railroads S9uaT'
deal" .r,
These factors cannot be Ignored. ne
return to normal conditions may oc
slow but better times are surrey vi
their way. 49,,
II - 4 fine time for the man "h"
has money OF CAa borrow u.