The Washington herald., 1922-03-11
RAIIS
MARK DISTINCTLY
FIRM STOCK MART
Decrease in Unified Steel
Tonnage Held Unfa.
vorable by Trade.
STUDEBAKER RISES
Favorable Annual Report Of
Company Helps General Mo. (
tors Stock as Well.

NEW YORK. March Io.-A ,or.
consistent condition was disclo.ed
py todays trading in the several
markets. prices generally showing
an upward trend as trading devei-
oped. Stocks were distinctly Arm
win raHs again a feature. e.ne-
clally the lower priced 49,.
Toward the close fractio,sI "a
Vances predominated. but there w..
numerous gains of better th..
point Bonds also were steady 80
call money, after opening AZ A =.
cent, declined to az per cent a,
me middle OF the last hour.
statement Of unified tonnage n,
the books OF the United states S,..i
Corporation on February % 70.
vealed decrease Of IOo, sos ton,
as compared with the preyioU.
month. While this figure was some
What greater than many estimates
was generally considered 10 he
not unfavorable in view OF the in
creased mill activity during IN.
past month. Operations are re-
ported to be on a better than
90 per cent basis. and this Ircl-
atiVeiy high percentage Of opera
IONS is coupled with transporta-
NeAA1-Nh'ho dAAO"AnR prom nj
shipments. Steel common was frar-
ticnally higher Immediately follow
ing the publication Of the unnIled
orders statement The actual nr-
ures for the corporations BOOKING.
on February IS were I.IlI.Oss tons
as compared with 4.24l.s7S tons on
January 81.
Studebaker Advances.
Studebaker's favorable annual re-
rort was reflected in higher prices
at the opening not only for that
compsny's stock. but for the shares
of General Motors as well. while
even Chandler. in the face OF the
reported unfavorable operations
during 1921. was fractionally high
er. Studebaker viii ship 10000
cars this month. according to in
terests in close touch with the man
aEement. and Buick. the largest
producer in the General Motors. or
Canization, Is reported 90 be work
ing on a schedule which will bet
ter this figure. Reports from De
troit showing a material increase
in number OF workers employed at
that center served 20 add to the
strength OF motor shares. Employ
ment in the automobile center is
now stated 10 be greater than at.
any time in the past fourteen
months.
Great Northern's annual report.
showing sll.I per share earned on
the stock. after payment Of all
charges, was a surprise 20 many.
While The company's favorab!ej
showing was in large part trace-|
able to income from the BurlIng-'
toms extra dividends. the showing
made was sufficiently favorable TO
influence buying OF nearly all the
high-Erade rails. Optimistic sent
ment in some quarters even went
SO far as to predict early action by
the labor board on the railroad
wage problem. although the only
available information on the sub
ject was the reported Disagreement
Of managers and men IN attempt
ing to reach an over-the-table set
Element without the intervention
of the board.
American Tel. a Tel.
American Telephone and Tele-
graph stock made a new high rec
ord for the year at l21. under the
influence Of steady buying Of an
investment character, which has
been going on since the company
Offering of new stock last fall.
With its per cent dividend aprar-
entity well secured. even under pres
ent conditions and with funds
available for extensions and bet
terments which should evcntually
Result in important operating econ
omies. the company's position sp-
pears TO be one Of great strenGt''.