Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-02-06
GOSSIP OF
THE STREET

lt was pointed out that there arC
many elements in the situation which
naturally will have some bearing on
stock market activities over the next
few weeks, among which are the coal
employc wage agreement, possibly Of the
bonus measure becoming law, etc. The
strike of employees Of tho textile mills
throughout New England also is factor
Of importance; but less attention is
being paid to that than to either the
Bonus Bill or the possibility of strike
of the coal miners.
The fact should not be overlooked that
| business is improving. The foreign
situation is getting better. Foreign ex-
change has advanced substantially and
international trade intercourse Is broad
ening gradually, but steadily, as Is re-
| hectcd in trade reports as well as the
reports of outgoing steamships, which in
| the main are now fairly well loaded,
whereas a short time ago their holds
we're only partly filled with merchandise
and product for foreign consumption.
These are factors Of the highest i'm
portance from the point of view. OF tnc
stock market, looking at the situation
broadly over period of the next sew
cral months.
More New Issues In Sight
Indications now are that during tile
coming week there will be but lew new
| offerings of securities. Some OF tho
issues which have been under contnm.
plation recently have been temporarily
! held up with n view to permitting the
! market TO settle down and in order to
effect the proper degree of digestion OIL
issues already authorized and out
standing.
Dealers now have in hand fairly SUI,
stantia amounts of certain securities w
the most recent origin, and while there
is "A fair demand for bonds, it Is pointed
out that some time will be required 70
bring about the proper degree or dis,
tribution before further substantial
totals are presented to the public.
Copper Market Deadlock
Present conditions in the copper in
dustry are similar to those that nave
obtained at times in the last two years.
It appears to be fight to the hnlsh be,
tween the sellers and the buyers. ana
it must be admitted that the latter ap-
parcntly have the upper hand at the
moment. as they are not making any
earnest effort TO place orders except
at prices which they are willing to pay.
In the trade it is said that the sales
for January have not yet been COM
niled hut is asserted that when the
figures are sent to the trade they are
likely to cause considerable surprise.
ms il Is expected that the the total will
be smaller than any month in long
time. Export business during Jan
nary was only fair, and the domestic
buying was much smaller than in recent
months.
Some observers are expressing fear
that the drop in the demand might
cause delay in the resumption of
operations at some of the properties
Ii is known that the officials of several
companies were planning to announce
that they would resume producing the
metal early in spring, but the lull in
buying has caused them to delay making
any announcement at this time.
Freight Traffic Continues Light
Officials of railroads operating east
from Chicago and st. Louis find little
change in the general conditions, and
the carloadings last week do not sug-
cest any impending improvement.
There Is much more corn being shipped
to the seaboard than at this time
year ago. and there has been little
/ Improvement in the run of coal, due
70 the colder weather of few days
ago. but general merchandise shows
little change. The shipments of
building materials arc holding about
the same as recently. while the steel
and iron shipments show no material
Improvement. Meat products ship
mcnts are liberal aMd. il anything, are
ahead of last year. not only for do
nestle but for domestic account. while
livestock shipments, especially of hogs,
are heavy. There was n slight de-
crease in the number of idle cars.