Evening star. [volume] (Washington, D.C.) 1854-1972, 1922-09-05
STOCK LIST FIRM,
W|THFA|R TRADING
Settlement Of Coal Strikes
Favorable Factor-Dividend
Paying Rails Strong.
BY STUART p. WEST.

BY STUART p. WEST.
WALL STREET. N. Y, September s.
Labor troubles. for the time being
at any rate, ceased to be factor in
the financial market today. The coal
strikes were over. and the bituminous
output was back to normal in con-
siderably shorter time than antici-
pated.
Over the holiday came fresh evil
dence that the contest with the shop
men was on the wane. There was
Fedora ton Of Labor until the meeting
nearly week off. Meantime, Wall
street refused to take seriously the
threat OF a general strike.
The consideration which the secur-
ity markets had chiefly In mind this
morning was that the-Question of the
fuel supply which for the last month
or SO has been the one disturbing fea-
ture in the business situation had
now been finally disposed OF.
Buying IndustriaIs.
With this assurance. buying opera
lions were actively resumed in indus
trial stocks. Some of these. like
Studebaker among the motors. and
Baldwin Locomotive among the equip
for the year.
Announcement Of the Mexican gov
eminent debt settlement on terms
more favorable from the Mexican
standpoint than looked for. helped
along another sharp uprush in Mexi-
can Petroleum stock. 1t is inferred
that holders Of the Mexican bonds
will waive back interest which would
incline Mexico to be more lenient
with American corporations in the
matter of taxes.
New Highs In Rails.
In the railway section, Louisville
and Nashville went higher In antici-
patton Of a large stock dividend, and
Norfolk and Western was bought on
possibility of an extra dividend now
that the soft coal strike is over.
With the exception of Rock Island.
in which special operations were
again in evidence. non dividend pay
ing rails were neglected.
speciaIties Taken Up.
wide variety Of Industrial special
ship of speculative pools. Among
these were Crucible Steel. in which
the object evidently was to get the
stock above par. where the right to
subscribe to the new stock would
begin to have some value; Allied
Chemical. International Paper, Famous
Players. Central Leather. Pittsburgh
Coal and Du Pont Powder.
Copper stocks did better under the
lead of Utah and Chile Copper.
Foreign Exchange.
Continental exchanges started low
er but with the course of the day
gradually got back to where they
were Saturday. Sterling exchange
went higher. 1t was surprising that
. IL. oh ho
more responsive to word from Paris
that French opinion is swinging
around to the necessity Of cutting
down on German reparations claims.
Wall street may have been waiting
for more corroboration. 1t is also
true so far as the value of the mark
is concerned. that even the prospect
immediate future against the deluge
Of paper money.
Pools OPERATING.
that the United States Rubber Com
pany will suffer a loss in this half
Of the year either from further in
ventory depreciation or the sales of
tires at current record low prices.
Indications point to an entirely sat
| business Tires sales this year are
substantially ahead of the same
period last year. Mechanical goods
sales increasing steadily, are close
to the highest. levels in the COM
pany's history.
Pools Operating.
The pools and individuals operating
AIKEN an Off day Saturday. resumed
activities promptly with the opening
Of the market today. Bulls on Stude-
| baker were emphasizing the big soft
coal production as doing away with
any fuel uncertainty. Pittsburgh Coal
and Burns Brothers A were the two
coal stocks to feel most the benefit of
the strike settlements. Improving
prospects in their particular trades
were given as the reason for the ac-
can Linseed preferred and American
Cotton Oil.
Coco Cola.
1t is learned that an extra dividend
Of at least so cents q share expected
on Coca Cola common may not ma
terialize. Coca Cola for some time past
has been operating with sugar pur-
chased at low prices. Beginning with
the first Of next month the company
will have to pay increasing prices for
the product.
Royal Dutch.
In connection with the rise in Royal
the stock was behind the other oil
shares. that the reason for this had
been the unsettled state Of the foreign
markets, and that now that conditions
were steadier abroad, the stock might
be expected to work more nearly into
line.
Financial Notes.
The balance sheet of the Maryland
Oil Company, as OF July 81, shows cur
rent assets Of $7.9o0.90S and current
liabilities Of $1,743.606
The Mauritania arrived today from
England with eight boxes of bar gold
valued at $250,000 for Kuhn, Loeb &
Co. There was also aboard a con-
signment Of three cases Of gold in
gots. valued at sal, 5000, for the Irving
National Bank.
Mexican Petroleum today declared
it's regular quarterly dividend of So
on the common and 81 on the pre-
ferred.
The Kelly Springfield Tire Company
today declared its regular quarterly
dividend Of IN per cent on the 8 per
cent preferred stock, payable October
3 to stock of record September Is.
Dodge Brothers will add q manu-
featuring building to its prese Mt
plants having total floor space Of
SOC. 900 square feet and costing half