The Washington herald., 1922-08-01

NEW YORK. July si.-contsnued
Optimism over the possibiiity, OF a
settlement In the strike wa. rsc
6ected In higher stock prices this
morning. -Raiis were y feature. hut
industriais also achieved q number
Of advances OF . point or two. In
the afternoon profit-taking appeared
and many Of the early advances
were halved. Activity was moder-.
ate. Bonds were In better demand.
the more sp4cuiafivs
rails. and exception TO the general
trend being offered by the forefeu
issues. Call money opened the laA
day Of the month At az per cent ana
vas raised provisionally In th&
afternoon 20 s per cent
Active Issses HfsAes.
Quotations for nearly ali acttvss
Issues ruled higher this morninr. ?
Strength in . number Of Individual
issues was apparent from the open
ing and after the first fsw minutes :
Of trading the demand for skocks
spread gradually until prices were
forced up throughout the list.
Sentiment throughout chs mRninr
was generally cheerful. the bSiief
prevailing that notwfthstandfnw the
somewhat conflicting reports a. 90
the character of the message which
the railway executives win rscsivs
from President Harding at their
nesting tomorrow. the action tnken
will go far toward restorfng norma.
transportation condition The 0treet
confidently expects the settlement
Of the coal strike TO be announced
during the current week. and with
a -
dificuities practically every indica-
ton In connection with the business
of the country is for greater acfiv-
ity during the coming months
When these indications are coupled
with easy money. the opinion pre-
walls In the7nnanciai district that
higher priefs are bound TO prevail
during the next few months for
nearly all, classes Of securities.
s@Sssaessker.
Action sof%zthe directors OF the
Studebsker Corporation today was
one of the things for which. Tn.
market has been waiting. Apps-
rently the FIRST effect Of the an
nouncement that the common stock
had been placed on a 10 per cent
basis annually and that a new poll
icy of declaring extra dividends as
earnings warranted had been begun
with a payment Of ~ per cent for
the current quarter was disappoint-
ing for Studebaker. sold of nearly
points after the news was pub
lished. However. the selling was
very generally attributed 10 profit
taking on the ground that the good
news was out and n was readily alb
sorbed so that the stock rallied sub
stantially.
Ceei Roads Lead Advance.
The West Virginia coal roads.
Norfolk and Western and Chess-
peake and Ohio. led the advance of
the railroad group this morning
with q gain Of . points In each
Apparently the floating supply OF
these Issues was limited. for the
buying OF about l.ooe shares ac-
counted for the sharp advance. Both
issues have been well bought for
some weeks past In the belief that
earnings for the current year will
be such that additional disburse-
ments TO stockholders above the
rates now paid. Z per cent on Nor
folk and 4 per cent on Chesapeake.
will be justified and that some sc-
ton along this line will be taken.
As 10 well known. trafic on both
roads was stimulated by the strike
in union coal nelos in other sections
OF the country to such an extent
that both lines earned their full
years dividends through the opera
tions Of the FIRST six months.