Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-04-04
STOCK MARKET
TONE IRREGULAR
British News and Bank Report
Principal Factors.

NEW YORK. April 4.-The resolution
adopted By the British railway and
transport workers supporting the strik-
ing miners caused an uneasy feeling
among traders at the stock market open.
ing today.
The bank statements were very favor
able and showed remarkable improvement
over the previous week.
These conflicting factors were reflected
In an irregular tone during the initial
trading.
Studebaker was in active demand and
rose IL points to 74k.
Mexican Petroleum rose points, while
Royal Dutch declined l 4 points to 60A.
United States Steel reacted 4 Of a
point to S0A and Crucible sold down Is
Atlantic Cuff, after falling to s4%,
rose to 351a.
General Asphalt rose q Of a point to
COZ.
The rails showed little change.
There was another series Of bear at
tacks on various groups of stocks during
the first hour, causing declines ranging
from 1 to 2 points in the majority of
issues in which there was active trading.
The buying in most causes represented
covering of board room shorts.
The sugar stocks were taken as an OBJ
ject of attack chiefly because of the ease
with which the American Beet Sugar
has been depressed on Saturday. That
morning of IA points.
Cuban-American Sugar sold down over
2 points TO 234.
American Sugar Refining was down
over point to 1895.
United States Steel came within 4 Of
a point of its low record OF the year,
selling at 791s, after a rally TO SOS.
(By Thomson & McKinnon)
April =
The volume Of business transacted
Saturday on the stock exchange was
moderate. but there was considerable
activity IN limited number of issues.
Sentiment on the exchange was against
the market and the professional element
took advantage of every opportunity.
During the early trading, Atlantic Gulf
and Mexican Petroleum were in ample
supply, but some short covering during
the day steadied values. There was NO
significance in any OF the trading.
sumatra were the real weaklings Of the
market
In sugar. the action and the prlce in
dicated doubt Is to the dividends, while
In Sumatra, the market was very thin and
the support very poor.
Pennsylvania was under pressurs
again; liquidation in this stock con-
tinued steadily. Studebaker also suf-
fered in the days trading.
Discussion was again heard Of a pros
pectfye cut in the price of steel products
by big companies. This will, of course,
prove to be temporarily a disturbing ele-
ment in the market but If a cut in price
should be Offset by a corresponding de.
crease In wages the result ultimately
should prove beneficial, since business
viii be stimuls ted and the companies will
be assured a fair profit on their output
Conditions in Europe are unchanged
and a prolongatiOn of the coal strike will
naturally be detrimental to business
The coming week there will be num-
Der Of incorporate meetings and the &C
ton on dividends will be an important
factor in the market
Temporarily. the market looks as
though some further reaction is likely.
CLEARING HOUSE STATEMENT
NEW YORK. April 4-Exchanges 453,-
S91 ,S63; balances, S74,eST.775; Federal Re
serve Bank credit balances, Sc, ASS, 27S.