Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-03-07
GOSSIP OF
THE STREET

-,
lhGe was distinct division IN the
character of market opinion heard in the
wan street district after the close
saturday but on one point everybody
whose views were OF the slightest i'm.
portahce' agreed and that was i'll regard
10 tne manner IN which they construed
tnc inaugural speech OF PRESIDENT haru-
ing Ihere had been probably no ad'
dress delivered on like occasion In
the past which was spoken of with such
sauStactlon as this address of Presl-
dent Hardings.
lt was generally assumed that with
inns outline of policy for starter that
business interests can look forward to
an era OF tranquility as far as II Is
possible for the government to smooth
out existing troubles by legislation and
in speaking of this outlook the point
was brought forward by some that the
railroads of the country need fostering
at the present time more than any other
INDUSTRY
forelgn Exchange Market
The week in the foreign exchange
market closed with the international
financial community in n state of sus.
pense, pending the final outcome of
the ultimatum TO the German repre- =
scntatives by Lloyd George, speaking
for the Allies. on thc rcparntions sit :
uatiOn.
The assumption in financial circles in
this country and in Europe was that,
as intimnted by Or. Simons. nm under
standing will be reached without re.
course to force on the part of tho Allies
However this NAV be. crcditinp tho for
cign exchange market ms n usually no.
curatr barometer. IL co,ld nor bn soid
that there was any ipdicatinn from tho
course of the markers of nm imprndinu
new or dangerous turn in tho ;ntnrnno
tionnl sitnotior.
The foreign exchange morkef with
only unimportant temnnr,rv siiyb. "a.
rrssions moved steadily inward IN.
questionable. n settlement NJ the vitality
important questions at issue would be
"ul'eu WIN PTolouhd rchet oN every
one us marking at least, the prelim'
mary steps toward a period OF recon
M'uC''oh throughout the world.
Bond Market COnvaIescing
According 70 some of tbc Ioodiny !,
vestmcnt dealers of the street the hond
market continup extremely dnil and In
active. II being necessary to cIprt con
siderable effort in tbe dnvaIonman, of
new business and also in Tho distrihn.
tlOn of some of the ilSupS Of rpCpnt
origin which wprc NOT nil sold nItbonyh
announced ns having been fully sub.
scrihed The breathing snel nf tho In st
few davs has permitted the outstanding
issues 70 become partially diprsted nnd
homes nrp entertained that within the
next ten days or two weeks the market
will have undergone sufficient improve.
mpnt to warrant the Offering Of new
issues which are now under contrm- :
rlatiop
There arc numerous importapt fnon
riaI transactions which are In course
Of negotiation but which orr being held
ia allowance because of thr unsettlement
obtaining in tho trade which is now sui. Z.
fprinc from an aCute attack of indi
vcsti"n.
Connor pr;cos S,m s,;d;no
Lower prices l"E copper metal ny
some or inc comparatively large sellers
featured the market during the past
week. CONCESSIONS were reported IN the
trade Tor the Gays or more Dut II was
not until the phd OF the week that II
became dennlteiy known that the Amer
lean Metal Co. nad actually accepted
contract from the American steer ana
Wire &c. Tor MHrch shlpmcnt NJ
twelve and three elghths cents per
pound. dellVered.
Earlier in the week this agency had
taken business at twenVr ana one halt
, cents per pound, ana TINS price was
met bF tNe American SmeIuhE ana hr-
hnIng co. Although II was nor poHSl e
Die 10 get an ACKNOWLEDGEMENT mat the
i,,,,.ar Eouro ~ oon,,ro, ho,iof l., th,