The Washington herald., 1921-10-06
OlSAND COPPERSEI
DULL, IN ERRATlC
TRADING SESSION
Uncertainty of u. s. Rub
ber's Position Battles
Traders. I
LIST HARD PRESSED.
Realization of Profits and,
Short Account Transac-
tions Market Factors.

NEW YORK. Oct. 5.-stocks nuc-
tuated uncertainty during almost
four hours today without any ma
terial change in the markets dIree-
tion. The oils and coppers showed
that tired feeling which always be-
tokens the sudden switching 20
other more -pliable groups. Profess
sionals did switch TO the rails on
this occasion. but the accruing re-
suits were only temporary. Around
the end OF the fourth hour the
whose list came under the pressure
OF sales for the realization of
profits and for the short account.
The ensuing decline ran up to two
points or more.
United States Rubber. -
Although there were many In the
street today who ventured the opin-
ion that the United States Rubber
preferred stock dividend, action on
which Is to be taken by the direc-
tors tomorrow is uncertain. none OF
the doubtful ones seemed Willing
of the stock. II was learned from
a reliable source this morning that
persons who will have much TO say
about the dividend at the meeting
express no doubt about the regular
2 per cent being paid. The bust
ness of this company has been in-
proving for weeks and now, with
the best season for footwear ep-
preaching. plants turning out the
lighter articles Of footwear are op-
Grating at full capacity. IL there
were any necessity for the company
coming into the market with a new
bond or note issue. the controlling
interests might not be 80 confident
Of the preferred dividend being
paid. This argument Is based on
the known fact that the banks have
been averse for a long time 70 loan
ing funds for the payment Of divi-
dends. The same argument is used
in reverse form TO support the
streets contention that the Amerl-u
can Sugar preferred dividend wiii
be omitted. since IL is generally urfe-
derstood that a loan for this com
pany is being contemplated. Sugar
preferred sold at 20 rs at the OPEN.
ing today, a price which compares
with 107 Ia in January Of this
year and with IIs 3-4 in January.
1920. Not so many months ago
this stock was listed among the
best investment preferred stocks.
InviscfbIe OH.
The buying OF Invincible OIL
since the middle of last week has
been one of the notabl features of
the advance in oil stocks. BY yes
terday every trader in the street
had been familiar with a rumor
to the effect that negotiations Were
under way between the Atlantic
Refining Company and the Invin-
chile Oil Corporation with a view
to forming some kind of working
agreement which might eventually
lead to the absorption OF the latter
| concern. Invincible became a mys-
tory stock in the eyes Of the rank
and file Of traders when It held
firmly today in spite Of the pub
lished report quoting J. W. Van
dyke. president Of the Atlantic Re-
| hning Company denying that offi-
cials of the company had bought q
| big bloc of stock in the 1nvincible
| oil Corporation and plan TO con-
troll IT, This report actually caused
some traders to unload their stock.
but offerings were quickly alb
| sorbed. A brokerage house which
is said to have had intimate knowl-
| edge Of the proposed deal stated
| this morning that the negotiations
referred toa few days ago are stin
progressing.