Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-11-17
WALL. STREET GOSSIP BY MONITOR


Ouite 4 furry was created among the
coal stocks by the appearance on the
tapa of a quotation of - for the stock
81 the Central Railroad of New Jersey on
a sale Uf 200 shares. This was an adj
vance Of 2S points as the stock sold
Tuesday at 994. Before it was discovered
this quotation was a mistake on the
part Of the transmitter on the stock ex-
change Il vigorous rise took place in the
shares of the coal roads with heavy buy
ing Of Delaware & I.ackawana which
put that stock up early g points. Reading
= points UP while Lehigh Valley ad
vaaced Il point. This led TO a demand
fOr other railroad stocks many of which
made substantial gains. The strange
Thing about the incident was that even
'ftcr the mistake was discovered the adj
vance IN most cases was well maintained.
One factor contributing 10 the general
OPTIMISM VAS the strength of Sterling
with demand touching 81 for the first
time since last May. Cables ut that
time were quoted at Si.OO13.
According to unofficial, but fairly au-
Iaentlc reports the proposed merger of
IuIlInan Company and the Haskell and
harker Company involves the necessity Of
ISIncatIon by vote of G6 % per cent
q the stOCkhOldiEgS. This is not believed
t. be IN insuperable obstacle. 1t is said
tue Haskell and Barker stockholders ex-
rect an extra cash dividend before the
merger IS cor summateC as the company
mas more than S11,OJ0 900 working CAPITAL
large part of which was made up of
clSh and liberty bonds. 1t is borne out
Ihat an extra cash dividend Of ST share
would eau for only SS00,000.
Some light was thrown on the recent
weakness in Royal Dutch by the recent
OF a cable by the Equitable Trust Com
VIII be requested to act upOn 4 prODOsal
mat dividends or interim dividends he
distributed in full or in part, either in
additional stock or in script.
Friends Of Mexican Petroleum received
encoura cement as 4 result of a TamuicO
dlspaich stating the company broke all
records for oil exports in n single month
by shipping in October 3,S0O,OO0 barrels.
The recent strength of the copper shares
IS partly explained by the advance in
copper Quotations by the leading selling
agencies. The quotation is about K cent
per pound higher. No additional bust
ness is being taken for November de-
hfery ana agents are now quoting 133S
cents Tor December shipments and 49,
tents LOT January; Some idea of the
extent to which domestic consumption
has Increased may he gained when at
fentiOn Is called to the fact that July
sales for domestic consumption were only
about 23,NO.OOO pounds while some Of
fetal figures place sales for October do
nestle consumption at S0,OO0,OOO pounds
Some i1S3 Of the buoyancy of the mar
Bet mag be gained from CHANGING at n
partial list Of the stocks which made now
high levels for tae present upward move
ment. some - which were high levels for
the year. Allied Chemicals, American
Tel and Tel. Anaconda. Car and
Foundry, American international, Bald
win. EndicOtt Johnson. Corn Products,
Seneca Copper. United States Steel Texas
and Pacific G. * o.. Studebaker, Ameri-
can Wooden, Haskell and Barker, National
Lead and American Hide and Leather,
preferred, were among those stocks
The most interesting features of the
weekly review of the Iron Age was con-
tanned in reference to the effect of the
disarmament program on the steel in
dustry. The tonnage for this purpose is
placed at only a fraction of 1 per cent of
tn eyearly output of the country
Copyright, 1921, by Public Ledger Com
pany.