The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-03-25
BY W. S COUSINS

NEw YORK. March e5-rhe
mounting aggregate 90 sales ut
stocks and bonds ON the principal
Exchanges OF rhe country l4 we'll
ls the unusual activity ~ tho
rpecularIvc grain. cotton and other
futures markets may Dee taken Is
sn evidence Of growing pubuU iu-
tprost boz the movements of prices
and this is important, Tor upon the
day to day indications of the priv
cItul huromoters ct the general
economic and financial conditions
lf the country depend the future
plans III millions of American
business men n ls of course graft
fgtur 20 note that an the evidences
point to improved conditions In the
future. but what American business
mon want 90 know is' when will
tho new era ot prosperity De ush-
cred .n AMI viii % ho "a permanent
nr unly uu yphcmUral era.
4 straw iu the stock market
which shows 60 some pNtcnt how
tho wind l- blowing Is the large in
creasc in the purchases OF stocks
hy odd lot brokers on the exchange.
Odt lot traders who because VI
choir limited means uro unable tu
purchase the regulation 800 shares
Oh tho exchange. constitute the
errnf majority OF the general iu-
vcafinE public. for which Wall
800. haze been angling Tor re- good
many Has he been hook
cal 90 lAst and viii hc now De
ohcdiont 90 the process of die
trihutinE stocks-a process upon
which the professionals must rola
convert their paper profits into
cash Some OF tho odd lot broker.
report that their recon DEALING
hHyo been on an extremely large
scale. and have reached such an
aggregate as To be an important
factor in the security trading situa.
tiur IN other times odd lot trad
lnr was looked upon as being a dee
tormining factor jos directing price
iulto indications ~ the drift OF tu.
public speculative sentiment.
Hear Movement.
Il has been tho current gossip of
The street for the past few wc'I
that the professional bt.lls and th,
! pools which have boon bidding ul
the market have in some way los
control VI the situation and na,.
boon unable to carry out their pro.
gram. according Go schedule. Thoil
tactics n is said cAii FOR tho
siH luuE down OF tho stock mar.
Bot in order Co make the stock last
ard more particularly stock price.
attractive 90 tho outside public. 30
order 10 induce the puifitr ~ conn
~ on "a large scale. Every pttcmu'
90 dcprcss the market Is mot N'
] HHHHL nm WHHNmmHHNHL 80 NHHHHNum .aH..
thut tho depression Be- momcniar'
and stocks slmoet imm,diutsi.
u1p back into position. This w.,
opened with just such a dcuiqnstrl
ton Af.cr q firm onerhr ui
Monday tho hears directed 20 sell
ing movement against She mario
and the speculative indnHtrInls an.
! spcciultics caught by tho wake o
Hri!iug TIA, spread over every fer
lion oi the market. with the moss
Die eyccptieu ~ the railroad sharos
broke badly aud were soon 3d.
h1ck from . to q points N!mo.
without exception tho f~uhr.uura
recovery replaced quotations %
their former status
Automobile
ono Of the prominent ludusirlo
that gives promise of re1ping n Dol,
benefit from tho Forthcoming boon
81 the automobile trade. Tho auto
mobile has long since passed from
the classification OF luxury tu thl
Of prime business necessity. 81
branch of trade and business tina.
does not use ihr 'c4r' fo nd.
vantage. Increased production o.
cars has been found fo ho 20 wis,
stop ON tho part of tho automobli,
companies. aH .Hles hnyo moro thE,
kept pace with production. Their.
are indications that March an,
Aarll automobile business will i
larger than for any yrnr since IN.
armisticc The automobile com
paries have marked of their in
vcnforics far below replaccmcn
cOsts. charged of their bad nc
counts and started with clca.
slntoH This has not made pleasan
reading for stockholders. hut fptur
results will than Justify thi
notion.
Since the decline In money rate
that sent the call loan market q
the lowest rate since 1878. and IN
time money market 10 rates cNis,
ina way back Ia 1917, unusua
activity has beon exhibited In IN
bond market The rates FOR nrim
bankers acceptance declined thl
week to the lowest point In IA
history OF the American bull mar
kct This heinf so. tho Institution
and investors which have long bee
employing their funds In com
mcrcial paper and bankers hill
have been looking around for aame
thing nor profitable and tho
have found n IN the bond market.
bond Market.
Since the first Of the year on
in"oatmcnt market has absorbed IA
less than s42f.0OO. 900 In furelgl
government and foreign soruritic.
As ihose bonds have an been a