Evening star., 1921-04-19
STRENGTH IN OILS
FEATURES market
Traders Feel Turn i1 Spe-
ciaIty Is Here-GeneraI
List Slow.
BY s. +. WEST.

NEW YORK. April 19.-N ell Sus-
tanned strength in oil and copper
shares and decided weakness in the
sugar group were the features in to-
days stock market. Between these
conflicting movements the balance of
the list did comparatively little one
WAY or the other. There is no mis-
taking the importance of the ADVANCE
announced yesterday IN fennSElSdhla
crude oil prices. 1t is the hrst sign
of turn which the OIL trade has
shown at all.
That the turn will be a lasting one
can also scarcely be questioned IN
view of the steady increase reported
in the demand for consumptloh. Inc
figures given out by the bureau or
mines. covered only the situation as
it stood in February ana was mere.
fore undoubtedly an undcrstatement
of the facts. But even Cor that month
of gasoline. domestic
and foreign demand taken tog"ther
was 1852 .624 barrels day above the
uf f. hruary. 1920.
with oil added to the list of in
dustrics which have turned the cor
ncr and are on the upgrade. the view
is more strongly backed than ever
that recovery Will go on spreading
from one trade to another hnt'l the
whole commercial structure is drawn
along.
1t was the broadeSt market for the
Gil shares seen in months. with the
lower-price oils favored quite as much
as the hisher-priced dividend payers.
Corpcrs Recover.
The activity in the copperS was not
as marked but these stocks Went
through their recent high levels, and
were evidently being very consistently
taken. 1t is too soon to cast the cop
per industry among those which have
started on the upward turn. but ii
must be only question of a short
time now before the remaining sur
plus is so reduced that prices Of the
metal Will be put back to Il profitable
basis.
Sugars Are Weak.
Sugar rctiners reduced quotations
again this morning. and the commits
sion in charge Of marketing the Cuban
crop sold d large quantity TO thE'and
at d figure which WIS the equivalent
Of as cents pound, or further
from the pric" fixed at tn"
time tn" commission was organized.
on this the sugar stocks sold of
very sharply with particular sensitive
ness in Punta Al.Sra and Cuba Cane
preferred.
United states Rubber was weak for
A time. hut rallied subsequently on
the hopeful resume of the business
outlook made by the president of the
company al an annual meeting today.
SteelS and equipments did very lit
tlc, and the rails were neglected.
California Petroleum.
California Petroleum earnings at
;he prtstn: time ar. reported run
ming close to $50 share for the
year This is due to the fact tha:
he compan. with the beginning Of
1921 put through a three-y"a~ con
tract to Sell its cntir" output IT
better figure than prevailing nr!c'S
TO one of the big oil companies In
he company Eo!d tho contract is
he Standard on o., California, hc-
.ausc the nans'S OF these two CON
-c~ns hav. been linked for some time
Iast Another thing which is il IA
vcr of California Petroleum common
is that the "1npany Is continuing t.
.oiicy Of buying up and retiring I'VE
,.i,.ferr-G stock
This week is scheduled t" b" an
important one. 50 far as dividend
luen;ines are concerned. Goodrich.
Stewart Warner. Pullman and To-
,.ac~o Products dire ors Wiz get to-
nents to stockholders. In II" case
II only enc. Pullman. is the dividend
now being paid believed to be- safe.
On Goodrich il is reported that the
dividend rate will be cut in half.
putting the stock on a SO basis. Stow
art Warmers dividend will be cut in
half according to announcements. aad
will be 81 instead OF 81 Tobacco
Products is expected 70 pay the divi-
lend in stock instead of in scrip. as
it has been doing since last summer.