Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-12-21
WALL. STREET GOSSIP BY MONITOR

WALL STREET GOSSIP BY MONITOR.
Churning Of n few spec:alties by pro-
fessiOnaI spectators was the extent OF
The stock market activities, ana under
these conditions it was not to he won
dered at that such stocks as Corn Prod
nets Refining. Computing. Recording ana
Tabulating were among the most active
stocks Of the day. There WIS no specinc
news to account for the movement in
these or 6rher issues.
Corn Products Refining sold fraction
ally above 90. the buying being chiefly by
speculative group which has been behlnd
the present movement. There was a
vague report Of Il prospective stock diYi-
dend. but no one in we'll informed cir
cles took it seriously. There Is better
foundation for the report that several
large operators have been caught heavily
short Of stock. and are finding dinlculty
in extricating themselves from their posi-
ton.
Official deniaIs that Computing, Re
cOrdin@ and Tabulating Company would
acquire the cash register business OF the
American Can Company and the National
Cash Register Company did not prevent
he speculative group responsible for the
movement from advancing their specially
to n new high record. y comparatively
small outside following has been at
tracted by the advance.
New Haven was weak 4 compared with
The other railroad stocks, the selling
haing based on he official announcement
that the company will not ask that an eX-
reptiOn be made in its case by the In
terState Commerce Commission in en-
forcing reduced rates on agricultural
products. Officers Of the company eN-
plain that I'm their opinion il is more
essential to the general good that agri-
culture and industry be stimulated than
that they petition for retaining the
higher rates.
Firms which have been following the
transactions in Pacific Oil declared that
the buying IN that stock was OF the
strongest possible character. There was
10 suggestion Of any particularly favor
able Development In the company 5
affairs. bul the statement by the Stand
rrd oil Company on the status Of the
Mexican field again has fired the
speculative Imagination rs u the strong
position occupied by American Oil com
panies.
Mexican Petroleum rallied on the an
nouncement that an extension Of time 10
Feb. - had been granted by the Mexican
government for payment or export anu
production taxes t0tailing approximately
100000 pesos due Dec. -. These taxes
were payable partly in Mexican govern
ment bonds under the terms OF the
agreement reached with American oil
men last September. 1t Is unofflcially
reported that negotiations are in progress
between the American oil interests and
tie Mexican government whereby an
agreement will be reached before Feb. p
which will remove all source of irritation.
For q snort season, the gas Stocks
became active, Peoples Gas of Chicago
and Consolidated Gas of New York be
ins the leaders. The movement originated
with floor traders and WAS not followed
very far.
The selling Of Ajax Tire & Rubber
was partly liquidation of long stock. and
perhaps in larger measure selling by
professional traders. Neither class accept
as favorable the issue Of 10000 shares
Of common stock at S12.J0 n share in
connection with the $3.O00000 bond issue.
The price declined TO a new low below
16.-copyright, 1921, by Public Ledger
Company.