Evening star., 1922-08-05
WALL STREET LIST
SHOWED STRENGTH
Traders Not Disturbed by
Days DeveIopments-Rails
Are Highly Favored.
ny STUART r. WEST.

NEW YORK. August 5.-The stock
market today refused to be perturbed
over evidences Of growing unrest
among the four great railway
trotherhoods, and the firmness OF
prices in the first hour gave profess
sional short sellers little opportunity
to bring about a week end reaction.
The rails became more prominent
than they were on Thursday and Fri
day. Moderately eactive bidding for
Southern Railway and Northwestern.
among others. brought new high
prices for this year.
Among industrials sugar stocks
again were in demand, especially
American Sugar and Punta Allegro.
The speciality group was featured by
kresge, which apparently was buoyed
up by investment purchases based on
known good earnings of the chain
store companies in July.
Anticipate the Rest.
While the railroad strike had some
new and threatening developments.
noted chiefly in the desire Of the rail
brotherhoods to lay complaints OF
operating conditions before President
Harding, the street found material in
the coal strike outlook to promote
confidence in results when producers
and miners meet on Monday.
Reports that Illinois operators were
and new working conditions made 1t
look as though mutual concessions
might be evolved when the interested
parties get together in conference.
Exchanges Firm.
Sterling exchange and francs were
quite firm. and a reaction of the Ber-
lin rate under .0013 cents was accom-
panied by no new information about
the foreign situation.
The cables brought word that the
German government would refuse to
meet the stipulated $1o.0Oo.o0o pre-
war business debt payment by august
IS, but this has been expected as a
and other Indebtedness scaled down
or postponed.
8. 8. Kresge Common.
The advance of S. S. kresge COM
mon into new high ground again to-
day simply reflected the earnings po-
Sition of the company. Selling AT loo'
the price of Kresge was equivalent TO
approximately sSss. counting last pe. De-
cember's stock dividends of 81 per
cent. Intimations are now forthcom-
ing that another sizable stock divi-
dend may be declared later in the
year. kresge common earned almost
$40 q share in-1921, and this year may
mates put the earnings as high as W.
a share.
F. ". woolworth Company is also
said to be contemplating stock divf-
dends soon. 1t is rumored the dis
bursement will be at least 100 per
cent. May Department also plans ex-
ira payments in cash or stock, 1t is
said.
The Northwestern Road.
Under the leadership of Chicago
and Northwestern all of the roads
traversing the northwestern part of
the country were in demand at high
er prices today. Northwestern got
into new high territory for the year.
moved ahead. Northwestern was be-
ing bought by people who believed
that the spring wheat territory will
develop large traffic this fall. This
would result in large earnings.
Steel Common 1914.
A noteworthy incident was the sud
den jump in Steel common from
100R to 10lhs between sales, on the
announcement that some of the steel
furnaces would operate as usual next
week, regardless of the existing fuel
shortage.
Corn Products led the Industrial
group, making a new high for the
year of u just before the close.
while Brooklyn Edison ran up sharp
ly to lis. also a new top for this
stock.
Rails continued to lead the market,
and in the late dealings an increas-
ing demand was in evidence for New
York Central. Rock Island and Balti-
more and Ohio, along with the early
leaders.