Evening star. [volume] (Washington, D.C.) 1854-1972, 1921-01-29
Market IS QUIET;
PRICES UNCHANGED
Prospects of Agreement on
Reparation Are Helpful
Financially.
BY STUART P. WEST.

NEW YORK. January 20 tSpeciaD.--
The decidedly better outlook Ior III
agreement at the Paris conference con-
sidering the problem OF German repara-
lions was the principal consideration IN
the markets this morning. At the close
of business yesterday it had looked Ike
a break-off. The announcement over
night that a compromise plan hao peen
drawn up which appeared 10 nave every
reasonable prospect Of adoption came as
a pleasant surprise. Al
its principal effect was seen IN the
movement Of franc exchange which nad
broken sharply when q rupture OF neso-
tiations was feared and which lmme. :
diately at the opening this morning mad
a violent recoil that carried the rate UP
a half cent Sterling by comparison
less than a cent In the opening advance
and lost part Of this rise later.
Prices moved with irregularity. with
a small volume Of trading. with In
terest centering in special issues:
Motor stocks were strong. IN Iurtner
response to the reports Of resumption
Of manufacturing on allarger scale:
There was quite a demand Tor
Mexican government bonds and rail-
way stocks, apparently because Oh inc
conciliatory attitude OF the new gov.
eminent toward American Oil interests
ests.
Discounted the News
Mexican Petroleum itself had dis
counted the Mexican news by its rapid
upturn earlier in the week. out tue
flected the view that the outlook Tor
American recognition and an Ameri-
can loan had been considerably
frightened by the willingness OF the
Mexican authorities to adopt a more
favorable position in the oil question.
Denver and Rio Grande STOCK was IN
demand on tho notion that something
might come out of the suit brought to
annul the sale to the Western PACING:
American Sumatra, American Linseeo
and the Can shares were all In de-
mand.
On the other hand. profit taking made
itself felt in the oils and in most OF
the rails.
To Consider Dividends.
The Studebaker directors are expect
ed to declare the regular quarterly
public a very favorable report.
The American Hide and Leather
board. according to Wall street re.
ports. may pass entirely the DIVIDEND
on Hide and Leather preferred. or It
may decide to pay it in script. Az
make a very sorry showing for the
last quarter OF 1920 and in some quar- :
ters il is the belief that q deficit of
over S3,000000 will be reported.
Ford Financing.
There is beginning to be a belief in
Wall street that the Ford Motor Com
pany is not as badly in need Of funds
as the country has been led to think,
and that the denial made from Detroit
as to the contemplated financing is
closer to the truth than other stories
that he was securing the financial
markets looking for funds.
In certain Wall street quarters 1t -
felt that bankers thinking that the
Ford Motor Company needed financial
assistance have been trying to get In
on the ground floor by seeking the
business rather than waiting for it to
come to them. This would show good
salesmanship on the part Of the
banks The fact that the Ford COM
pany will reopen on part time in it's
largest plant next week is considered
to be a most favorable development in
the motor industry.