The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-21
FINANCIAL NEWS
AND COMMENT
Week Sees Break in Long
Period of Low Price Move
ments of Stocks.
RAIL SHARES Do BETTER
Money Conditions Easier. bpt
Experience Dictates eau
ton Is Necessary.
RAIL SHARES Do BETTER
BY WILLIAM W. CRAIs.


Ii is a question whether financial sen
timent has been uplifted by renewed ex-
pectation Of better things in industry
and trade. or has merely become hard
import. Certain it is that the security
markets last week received an impulse
which may have had reflection almost
solely in speculative quarters, but was,
nevertheless. sufficient TO break rather
long period of unsatisfactory price move
ments. A number of industrial stocks adj
vanced from to more than points in
the railroad group there were weak spots,
as in the decline of Pennsylvania Rail
road shares to the lowest point in more
than forty years, but the rails as a
whole gave a good account OF them
selves. Corporation bonds, especially
those OF traction and other public utir-
ity companies. experienced two or three
days Of noticeable firmness.
| An effort to present for consideration
the outstanding events OF the week
would find that those of depressing quail
ity would practically balance others of a
constructive order. On one side could
be put the evidence of somewhat easier
money conditions opposed to this would
be the strong suggestion. contained in
unofficial estimates. that the quarterly
payments of income and excess prof IS
taxes would hardly reach the 5000 .000.-
600 forecast prior to tax day. In one
category could be recorded the scattered
bits of evidence that particular ero,,ns
of railroad workers were willing to listen
to a proposal for reduced wages. in The
other wa. the clear indication that
strongly organized railroad labor wouId
strive to the utrnost r. ratatr +na +on-
heavy wage scales OF nres4nt annlica-
ton.
From one angle the washineto, naws
seemed TO show that the Administration
was preparing 10 graphic with nress,np
problems. embodied mainly in taxation
81 az Ito. i, 1890, 80,
- : anu ih1eiii-
gent iashlon when Congress convened in
April. The same situation examined
from another viewnoint s,ggastaa +hat
tiiao nishe pe lost "nle the leaders
were trying to decide which subject po-
IiticaI considerations demanded should
- 80 4-ooAAis apioau' con-
rioehce lhat me aiEed countries would
force Germany 10 terms was tempered by
q lack Of lxnowl.dga OF anv rea, banaf;ls
- eoie A4o"' - ieSehS Hihclon Of
penalties IN connection with the repara-
! lions matter And again. searching the
foreign maid To- : -. !, ,iah. - -,
= AeA1 - ptos
pects Aor . resumption OF international
trade, one was puzzled by the actual
sigpificanco or .be british a.raer,a,,
- go ,,,
$3.50
When the entire weeks developments
were passed in review IL was cIaar
a,o,,,,,, -
sA'S iilie 'ua-
terlal Tor confluence In the early future
OF business was Forthcoming. AT the
Same time thar. MAS corstdorah,a
fer ~ a. infang,hIa craIi,,r 49,, -.
chance Contained the Germs :, nn,,s. -
five ha nnan,ngs ,Thsrs 60 sI,eb. o,,s..sl-,
an1,1chara tha. az ASra;,,s.ta.,a. e.oa'
tatns men In Mace. ~ tha h;as. ~
nort,t,cs r,-ao ara b,s,to at,aale 80 :.
alton nrobier, with intaiIieaooa -
forca ara 4, .c,arti,,c ,,,annar -,
due reqard 20, ~. c,,rra,t nnnS,tias &c - - !,
h,.inasa
s,,hera !. 80 5a,,h. .t.s. -. -.
4 ,hanoas 5,.a,.sS $3.50 "a
\ ~ aaso,,a,a r.,sn,,s ,,i.,.. ~
\ stro,,ios a. .,..os ...s ',.. ~
4 IA ,nan, 80 ,orais,, dah,. ,,is -.
4 through bv tha nan In nower 70 A. 30
4 II 80 - 49, t. 49, $50 ~
y,o,,tS 80 ra.,,,ts --,.t. 1870, ~,
/ 49, 80 Sssas 80 ..a
80 - ~ aaiS rsa s.io ~.
1 t,,ra,,, 80 ,s u1aale1..a.
ara 80. .,,e,,ar,, .ha 49, go. - 49,,
~, a',.s.,s s'.,i,. s,o,,.
~ - s , esges IA s.ooAs, nas I,
IN sbort iatarsst co., he a. snra a. -
! wavs ~ ,nvestmant nnrchases II II