Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-13
STOCKS CLOSE
IRREGULAR IN
MIXED TRADING
Industrial. S,s,ares, Recently
Strong, Exhibit ReactiOnary
Tendency on Monday.
Special to Indiana Daily Times
and Philadelphia Public Ledger.
~ MONITOR.


NEW YORK, Sept. 13.-Stocks closed
irregular, after a session Of mixed trad
ing and a fair degree of activity. Profit
taking cut down the gains estat lished
toward the close Of last week and on
Monday. InasmUch as the recent strength
has been in the industrials. this class of
stocks exhibited the chief .'1actiOnary
tendency Yesterday 1t is possible the
reeessions in grain and cotton bad some
thing to do with stimulating sales OF
stocks. The weakness in German marks
was another unsettling factor, but
chiefly from a sentimental standpoint, as
the average stock trader hardly can De
credited with analysing the unfavoranle
reaction of the declining German cur
.rency on the financial and Industrial
economy of the United States
AS a general thing. the selling pres
sure in Mondays market appeared to
bear fairly close relation to the strength
exhibited in the LAST few days. De-
cIines were heaviest In such stocks as
Mexican Petroleum, United States Rub
Der, the equipments, Studebaker and
American Sumatra. On the other hand
the leather shares made a firm showing,
particularly Endicott Johnson United
States Steel shared in the decline with
decline IN untitled orders was larger than
Street predictions may have had some
thing to do with promoting the selling
Naturally. the trading element that
takes a superficial view of influences is
inclined to look for further pressure prior
to the tax payment date on Thursday,
However, It is believed this incident will
prove less disturbing than 1t has on pre-
vious occasions. AT any rate. the feel
ing in what are supposed TO De we'll
informed quarters is more confidently
cheerful than it has been for more than
wear. There are too many Indications
of improvement to be ignored or diSpar-
aged-Copyright 1921, by Public Ledger
Company.
WALL STREET GOSSIP BY MONITOR.
The copper metal market weakened
again when sales were reported at 11&
cents as compared with recent quotations
of 1915 to 1914 Men in the copper bust
ness say the German demand has dis
appeared and the Japanese likewise are
taking very little amounts.
declaration of the regular dividend Of
s17S on the preferred and $1.25 on the
common stocks Of the EndincOtt John
son Company called attention again to
the optimistic reports which are cir
eulated regarding this company. Semi
Official statement Of an operating ratio
of above 90 per cent lack confirmation,
but trade advices indicate the company
is doing a satisfactory business. The
stock has advanced 10 points in the last
two weeks.
Arrival Of gold Included 81 100000 from
France, S13.360 from Central America
and small shipments Of gold and silver
currency from both Holland and Mexico.
The return of the committee Of Amer
lean oil men which recently visited Mex
leo City to confer with the Government
on the taxation problem has stimulated
gossip in connection with the shares Of
these companies. 1t is understood sew
eral members of the committee had to
stop at various points In the Mid-Con-
tinent field and until their return no
further statement will be issued. Of
heially the committee, through H. F. Sin
clair. declares no details can be made
public a matter of courtesy TO the
Mexican government.
The only dispatches received from Mex
leo City during the visit of the commit
tee did not indicate that any solution Of
the problem had been reached. but ra ther
that action had been deferred until De
cember. Under these conditions, the
speculative fraternity is inclined to await
definite announcements before taking a
permanent position.
At one time during the day the rail-
roads started an Independent move which
carried Reading up to its recent high at
Tx. None of the other rails reached the
same high prices which were established
n the last major rally and profit tax
lag shaded these gains on the close.
There was no news affecting these stocks
specifically although some attention was
paid to a report from Washington that
section % Of the marine act Of 1920 re-
curing the carriers to make preferential
rates on Atlantic shipments In
American ships will be revived. An
nOuncement also that the return of
president Harding this and other trans
portation problems will be laid before
him and that a wholly new governmental
policy will be suggested served to re-
strain buying 1921, by Pub
lie Ledger Company.