Every evening, Wilmington daily commercial., 1921-08-01
FINANCIAL NOTES.

\ generally better sentiment re-
suftlng from recent Improvement in
conditions. appears in hide markets
and allied lines. With tanners ex-
ncriencing q freer demand for leather
broader trading has developed in hides
of different descriptions. and price ad-
1anccs have followed recent recessions
There Is no expectation that tho
market will he anything like a runa-
way affair. but with the outstanding
hear account well extended. liquida-
tiou at an end. low prices for most
stocks and. last hut not least, easier
money there is certainly good ground
fnr believing that the Improvement
has come 20 stay. and that stocks
picked ~ on moderate recessions
hereafter ought eventually to show
good profits says Henry Clews.
With constructive forces in opera
tion and a better sentiment develop
INK IN different quarters, the com
merCial outlook seems one Of brighter
nromisc. reports Dun's Review.
Gains in activity. II not generally ex-
peCted At this sea son. are not wholly
absent and there j. more hopeful
feeling even in channels where actual
transactions disclose no increase. The
conviction that fundamental condi-
tions have been strengthened by in
cvftahle readWstments finds more fire.
auout expression. and a lcssening Of
hesitation Is now discernihle in GER
tain lines
From the June low the average of
railroad stocks has advanced more
than points Northern Pacific,
which sold ~ 6li4 on June "a. yester-
dav sold ~ 49,. Great Northern has
sdvanccd from e0is 20 above -.
Reading Southern Pacific and Union
racinc. which usually are the leaders
in any major speculative movement in
the railroads have advanced very
much tess. and for that reason many
market Observers are inclined e. be-
iievc that the present movement in
Great Northern and Northern Pacifc
hrs been FOR tho purpose ~ aiding n
marketing the joint issue ~ bonds
brought out some months ago
The month ~ July has run its
course IN the stock market very much
after usual form Trading was small.
interest narrow spccuiators watching
and dolnE nothing. investors and
shrewd buyers picking up selected
bonds and stocks and al the time the
price level gaining little. The mark
10 now enters upon August. during
which month tho crop results for the
wear win become sufficiently certain
for definite calculations a. 10 the
wears accomplishment % the third 81
ne population engaged in agricultural
pursuits The time also Is az hand
phen the farm crops. which represent
ne~ wealth. will come into the situa-
iion with inevitably constructive ef-
focff
Tho Studehaker Corporate con-
tinucs 20 force absolute results into
tho faces ~ the douhtc-s. who are al
last beginning 90 wonder whether they
had better not admit facts Today il
issued is income statement for the
second quarter This shows that the
uumber ~ cars sold was 22.Ss6. or
nearly twice the n .es3 sold during the
snnc period last year The sales
totailed f33. 0oo 600. against s22, ,0OO. 900.
and the net income is given at $685.
oa3. - compare with s3.73i .s6S for
the second quarter OF 1890 While
ne Studebaker has been leader in
The Industry this year, doing better
proha bly, than any other company ex-
~ert the Ford Motor Company. there
are others which have been securing
good results.