The Washington herald., 1921-03-21
EASIER MONEY And
: SHORT ACCOUNTS
| BETTERS TRADING
Weeks Review of Stocks
Indicates Gains From
Six to Ten Points.
MOTOR AND OILLEAD
Steels, Under Leadership of
United States Corporation,
Display Firmness.
MOTOR AND OIL LEAD

ed short account, Improvement In
certain lines of trade, etc, all con-
tributed toward bringing about
very decided betterment in the
stock market during the past week.
with the result that quotations for
a number OF issues moved up from
to 10 points. This was particu-
larly true with respect to the oils
and motors, although steel stocks
displayed an unmistakable firmness
under the leadership Of United
States Steel common. Crucible
Steel. Baldwin Locomotice and some
Of the other steel issues. advanced
rather sharply following the weak
ness displayed earlier in the week
when reactions of sizable proper
tions were under way. Another
strong feature in the market was
that of American Woolen stock,
which moved up to a new high quo
tation, on the present advance
touching 81, the buying coming
from sources in dicating that this
issue is being gradually absorbed by
strong interests.
Chandler Motor and Studebaker
Motors were the features OF the
motor group, each selling up sharp
ly to new high quotations for the
present calendar year. Admittedly
there is a short interest in these
two stocks OF substantial proper
tion and It was felt that the in
siders would give the short a severe
licking before the present upward
movement eliminates. The fact
that the Motor situation as a whole
has undergone a fair degree OF i'm
provement would appear to be am
pie reason for the advance that
has taken place in the stocks in
cluded in this group. The Stude-
baker Corporations annual report.
which was published on Tuesday.
presented a much better exhibit of
operations for the last year than
many had expected and Immediately
after its publication the stock ex-
perienced a rise of a fun 4 points.
most OF which advance has since
been maintained. On Monday
Chandler Motor stock will be ex
dividend OF $3.50 a share and it was
evident from the action of this stock
near the close OF the week that the
short interest was not desirous OF
paying the dividends and was grad
ually covering up. One of the lead
ing New York brokerage houses.
which is recognized as a specialist
in the stock, is known to be lend
ing several thousand shares of the
stock. and il is stated that this
same firm was a buyer OF the stock
all through the past week.
Atlantic Gulf Di.appoints.
Atlantic. Gulf & West Indies was
one of the most disappointing issues
In the entire list. The company has
had all sorts OF difficulties in rails
Ing funds to meet its present re-
quirements. which are stated to be
in the neighborhood Of $50 600
The company is negotiating for the
sale of its oil properties. but as the
prospective purchaser is desirous of
paying for these properties with
securities rather than cash, il is re-
garded as unlikely that the deal will
be consummated. officials of the
company say that while the situa-
ton Is not rosy one at the mo-
ment, they entertain confidence as
to the ability of that corporation to
eventually emerge from its diff
culties satisfactorily. Talk Of this
character, however. failed to create
much OF a following in the stock.
General Asphalt Strong.
General Asphalt was one Of the
strongest stocks in the entire list
on Friday. moving up to above 60.
as against a quotation of around AZ
about mid-week. There was rather
heavy selling of the stock early in
the week by a group supposed TO
represent inside interests, and this
was said to have resulted in fright
ening the outside following that
previously had accumulated in the
issue, with the result that aside
from those supposed to be in the
know, the public did not participate
to any appreciable extent in the
advance recorded up to the close of
business on Friday.
Rails.
There was a great deal of bearish
taik relative to railroad stocks
brought about largely by the dis
cussion which is now under way be-
tween railroad managers and rail-
road employees relative to the wage
question. While all sorts of threats
nave been made of a possible strike
OF employees in the event of the pro-
posed wage reductions being made
effective, those who follow the situ-
alton closely express the opinion
that the men will not go on strike.
particularly as there is too much un-
employment throughout the country
TO warrant their taking such ac-
ton. Also 1t would not be amiss
TO mention that the public is not in
sympathy with labor at the present
time because Of the annoyance and
inconvenience caused by erratic and
radical labor leaders during the
past three or four years. II was
evident that the high-handed man
ner In which labor as whole acted
at that time could not long last
once the general trade situation be-
came easier. Therefore, while there
has been a considerable amount Of
selling Of railroad stocks by fright
ened holders recently, the opinion
obtains in well-informed circles
that the railroad situation as
whole will be amicably adjusted In
a much shorter period of time than
the rank and file realized or be-
lteyeH