Evening star., 1921-02-25
STOCKS ARE FIRM,
STERLING HIGHER
Few Weak Spots Decline,
Being Checked Early
in Session.
BY STUART p. WEST.


NEW YORK. February 25-A rally
ing tendency in stocks. on foreign ex.
change markets and against this re.
newed weakness in cotton and grair
were the chief episodes in the finan.
cial situation today.
Efforts to get stock prices down
were not altogether abandoned. and
there were few individual weak
points still disclosed.
But the greater part of the list. after
an irregular opening. was inclined to
harden. Bear raiding did not meet
with the success 1t had on previous
days.
1t did not bring out the same guam
tity of stock. The perception that real
liquidation was not keeping pace with
speculative operations on the short
side led to a good deal of covering,
which. while it did not bring about
tone.
The main Importance of the recovery
in sterling and the moderate improve
ment in continental rates was that it
took away from the impression given
by the decline of the two preceding
days. that this was rejecting misgiv-
ings about the outcome Of the London
conference with the representatives of
Germany
Rather. it made the downward turn
appear as merely one Of the f1uctua-
tfons in what has been a highly specu-
lative market. Money conditions were
unchanged.
If there is to be any hardening of
rates incident to the March 1 require
ments, there was no indication of 1t
today; neither was the money marke t
responsive to the unexpected with
drawel of some s11. 100000 by the gov
ernment.
Few Weak Spots.
The weak spots in the stock mark ct
were not only very few by compa rison
with those of yesterday, but they were
confined to obscure issues of the spe-
claity class. such as Remington Type
writer and Indian Refining. which
passed it's dividend this morning.
United Alloy Steel broke again on the
statement published yesterday that
the next dividend would be passed al
together and that the company was
doing practically no business at all
Some attempt was made to start a
downward movement in the steels, but
it did not get very far.
What the Bears Say.
Wall street has been flooded with
bear tips during the last few days.
One room trader kept track of the
numoer OF Such tips that he received
Wednesday morning up to and in
cluding this morning, and found that
he was advised to go short of sixteen
issues. The bearish informants gave
all sorts of wild rumors and reports
as reasons for these stocks selling of.
In many cases, however, this trader
was advised to sell simply because
something of a very serious nature
was about to be announced"
Pressed for more information, the
bear tipsters replied in certain cases
they did not know exactly what the
causes were, but that they were bad
One group Of traders which operates
uptown was supposed to have formed
bear pool to attack eight stocks and
a lot of the bearish tips are traceable
to this clique.
Goodrich Company.
Rumors about the dividend action Of
the Goodrich directors at their next
meeting few thick and fast yesterday
and again today. In some quarters it
was said that the dividend would be
passed. in others it was the belief that
1t would be cut to 81. while in quarters
outside OF New York it was said that
the regular dividend would be paid.