Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-04-21
STEEL ISSUES
SUSTAIN LOSSES
Oil Stocks Show Strength
Rail Trade Light.

NEW YORK, April 21-Although few
issues made gains at the opening of the
market today, leading issues were under
pressure and sustained loss of frac-
tions to 2 points.
The steel stocks were heavy Steel
common falling = of point to 81 Cru
chile dropped points to n and Re
public Steel is points to 565s.
Baldwin and Lackawanna fell L point
each.
Some of the oils continued to work
higher, Cosden advancing l point while
Union Oil rose nearly 1 point.
Royal Dutch, however, lost nearly l
Mexican Petroleum sold of fraction
studebaker was strong, selling up 1
point to 1855.
Dome Mines continued in good de-
mand, touching a new high for the year
Goodrich Rubber sold off nearly L
point to 1855 on the passing Of the com
mon dividend.
American Sumatra fell IL points to IS
and American Sugar is points to S1A.
There was little doing in the rails.
While the market showed generally
strong tone with rallies in the steel in
dustria1s and advances in the petroleum
stocks there were many issues which
were in supply at concessions.
The demand for petroleum stocks was
u
issues. Cosden Company, on brisk buy
ing, rose 81 points TO 36l2.
Mexican Petroleum. after reacting to
145&. advanced to 1851.
Sinclair Oil moved up from 24H to
251S
Atlantic Gulf was one of the weak
features, falling nearly points to 1884.
United States Steel rallied to Sis
(By Thomson & McKinnon.)
April 21-
Today's market was in many respects
an exact duplicate Of yesterdays SEES
sion. 4 large part Of the list was prac-
tically neglected. The main activity was
centered in the oil shares.
The lower priced issues have been
growing in favor recently and each day
there is a noticeable increase in public
interest in this department.
Oil shares have always appealed to the
ina CinatiOn of traders and as group,
they constitute an attractive field for
speculative operations. In view Of the
progress being made in development by
numerous companies, there is every rea-
son To expect a continuation Of public
participation IN the market.
In the industrials. Studebaker was
again the feature. The buying has been
constant and each day there Is con-
firmation of the theory that a struggle
for control may be one Of the devel-
ments TO be reckOned with in the near
future. Gossip persists that interests
identified with the former head Of the
General Motors Corporation are con-
stautly accommodating the stock.
In other departments Of the market
nothing Of interest has developed.
The statement published by the Re
public Iron and Steel Company pOrtrays
in a forcible way, the deplorable condi-
ton existing at the present time IN the
steel and iron industry.
The rails have been reactionary since
the bulge of last week and basic cODdi-
tiOns are changed in no respect. It still
looks to us like some Of the dividends
are in doubt
The remarkable feature about the mar
ket is the manner in which bearisb news
is received.
This clearly shows a healthy technical
position and the presence Of a substantial
short interest.
= I've anticipate for the present a con
tinuatiOn of the same irregular market
that we have been experiencing with n
downward tendency in the steel and iron
shares.