Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-25
.GAR SHARES
SHOW BEST IN
EROUPTRADING
Spec, alties Supply Features
for Deals on Stock
Exchange.
TRADE VOLUME SMALL
i to Indiana Daily Times
y Philadelphia Public Ledger.
BY MONITOR.

~ ~. n by
NEAl YORK, Jan. 2S.-rrading in
stocks-made a further slump in volume
yesterday and activity was confined to
relatively few issues. The list generally
showed changes Of fractional scope, al
though the majority of these were in the
nature Of gains. Trading features were
supplied by five or six specialties, among
them being Gulf States Steel, Burns
Brothers, Electric Storage Battery, Corn
Products, American Writing Paper Pre-
ferred and Manati Sugar.
SO far as group movements were con-
cerned the sugar shares made the best
showing. In the middle of the afternoon
sharp advances were made by American
Sugar and Refining, Manati, Cuban
American and Punta Allegro, Buying was
stimulated by fuFther~marktng up in the
price Of raw sugar, and 1t was not until
Just before the close that any attention
was paid to Washington adviceg to the
effect that Congress would be asked to
increase the tariff on Cuban. sugars.
Considerable interest is, being taken by
Wall Street in the agricultural confer
ence at Washington. The outline OF )pur-
poses as set forth by the President is
considered sound, but everything, in the
opinion Of observers, will depend on the
manner
out. Commodity markets are moving
uncertainty these days, with wheat show
ing a somewhat frmer tone, while cotton
has weakened as the result Of the baslure
OF the great army Of buyers who have
been visiting New York this month to
make purchases in the quantity that had
been expected.-@Copyright, 1922, by PUB
lie Ledger Company.
WALL STREET GOSSIP BY MONITOR.
In a moderately active market the I'M
DERIVING optimism regarding the steeis
was again apparent. Orders placed by
the Chicago & NOrthwesteEn Railway Tor
steel cars was only one of the fayora bic
Items Of trade news. an spite Of skeptic-
ism as to the, asset value Of Gulf states
Steel, this stock continued the feature
Of the group. Steel common was heav-
lily bought on the way up from S7+2 TO
$685.. and good buying made Its appear
ance In Republicr Bethlehem 3 and Cruel
BILE.
Remington Typewritsr has been con-
6dently bought in the last few days, and
while the stock closed at net loss or
l point much confidence is expressed con
c,ruing its future. Optimism has been
created by reports of the success the
company is meeting with the introduction
Of its new portable typewriter
The feature of the exchanges was
furnished by the heavy tone Of the
Japanese ven This resulted from MP
favorable rumOrs regarding financial
conditions at Yokohama where the silk
exchange is reported TO haye' closed as Il
result Of the sharp slump 10 the price
Of this commodity. No widespread i'm
portance Is attached to the decline In
silk, as the general opinion here Is that
much OF the recent advance was due 10
speculative operations.
In spite gilmore or lcss sluggishness
among the motors. StudebakeE was con
-fdently bought on dips The directors
meet next Tuesday to act on dlYidendst
and the regular disbursements are ex
Predictions are made that at the April
meeting, provided earnings conuRue at
the present rate, an extra dividend VIII
be declared.
One Of tie strongest groups was the
sugars. with Manati leading with ~an ad-
vance Of about I've points. The sugar
shares are IN favor because OF the BELIEF
that the commodity has practically seen
It's bottom, and that large holdings ny
the various companies VIII WORK 70 JheL
benefit instead OF TO- their detrimenJ
BUYERS OF the sugar stocks were inclined
10 ignore Washington reports TO the
effect that Congress w0ald be asked to
limit the expOrtstion Of Cuban sugars
aud to increase duty on importations into
this country with view 70 protecting
the American beet sugar industry.
The feature OF the market from the
standpoint Of price gains was furnished
by Electric Storage Battery which reg
istpred an advance of nine points. The
high figure was 1441a, the highest since,
1900. with exception of it's rise to 1888 in
1919 The statement Of earnings FOR
1921 which were published this morning
vera construed as assuring the main
tenance Of the u per cent dividend.
at Genoa is a disappointment in finau-
cial circles The failure of the United
States to Indicate its attitude has given