Evening star., 1922-06-01
IJNDUSTR|ALS ARE
| IN ACTIVE DEMAND
Sugars and Oils Are Leaders.
Rails Slow, Awaiting
Strike Verdict.
BY STUART p. WEST.

ii NEW YORK. June There were
1ew distinctive features in the finan-
Sial situation today and very little in
hhe way of new developments.
n 1t was clearly enough indicated
that the per cent call money rate at
! the close on Wednesday was of no
Importance other than as it reflected
Preparations for the 1st of June in
fferest payments, by the fact that the
Syenewal rate today was unchanged at
~ per cent.
- Foreign exchanges were inclined to
work lower. still bearing witness to
.-misgivings in banking circles as to
whether the Paris conference will be
able to put through a German loan of
anything like the amount which Ger
many requires to balance her budget
and at the same time meet the full
reparatlonS program.
Interest dwindled in the wheat
| trading now that the position in the
last OF the old crop months has been
, liquidated.
I, Both the grain trade and the cotton
trade are waiting, as the matter of
port on the condition of the growing
crop, and in the meantime operations
seemed likely to be restricted.
/ Industrials Act Well.
: The security markets were Of the
I same type that they have been right
along; Liberty bonds held close to
7 their high points of the season. which
meant for most of them par or better.
: The companies list was generally
| strong. but less active. There are
! still no Indications. outside of the
most speculative rails and industrials.
! of any general renewal Of the rise
, in investment values. which was
checked six weeks ago.
On the stock exchange it was an
! other day of lively advance in in
! movements again came obviously
ienough from speculative pools. Out
side buying was still minor factor
nor was there much in the way of
news to throw light upon the indi-
i.yidual advances.
Sugars and Oils.
{ The slow. but steady improvement
On the sugar trade position was re-
shected in greater activity In the
sugar stocks. Oil shares were bought
lon intimation of an impending ad-
vance in crude oil prices.
I Stocks of companies doing business
with the farmers. the fertilizer and
Horticultural implement issues, were
strong in recognition of the change
&or the better in the crop regions.
Z The recent fall in wheat prices did
not seriously affect the position be-
Pause the great bulk of the 1921 crop
had been sold around the high prices
fnd proceeds used to pay of agri-
cultural loans.
! Rail stocks were neglected. evil
Identity waiting for the next move in
She railroad labor situation.
Mack Truck.
/ Operations in the industrial Sec
Zion covered an unusually large num-
Der of individual stocks. Most of
fhese movements were merely the
continuation of pool activities, The
latest merger rumor linked Mack
kruck with White motors. and both
stocks had a sharp advance. The
street seemed TO think that II there
were combination. there would be
hn equal exchange of Mack common
FOR White motors, and White fol-
lowed the rise in the Mack stock,
elthough several points in the rear.
J According to the trading element
fhe critical point in General Asphalt
WAS 67A, and 1t was regarded as a
hecided bull point. when the stock
was strong enough to get through
ahis figure.
Burns Brothers.
l Recent buying Of Burns Brothers B
31as been inspired by the belief that
little over month from now the div
Sdend will be raised to per cent
basis. Those in a position to know
admit that a higher dividend is likely
Sater in the, year. They say, however,
that the rate will not be raised while
ahe coal strike is on. If the strike
is over before the next meeting
higher dividend is quite probable.
4 American Sugar.
} 1t is reported that during tie first
quarter of 1922 American Sugar earn
led 20 per cent of its preferred diyi-
dend requirements for the full year.
This earning power for the first three
months, expressed in terms of inter-
psf on bond indebtedness, is said to
have covered fully the years interest
charges on the $50. 200, 900 prior per
eent bonds and also to have provided
fnr the sinking fund