The Washington herald., 1922-07-30
STOCKS AVERAGES
RULE UNCHANGED
IN DULL TRADING
Rails MARK Time' In
Absence of Definite :
ness on Strike.

NEW YORK. July 0S-Littie de-
velopment either IN the stock er
bond market during the days two
hour session. looking at the lists
~ q whole. and q majority Of the
quotations stood at the close about
where they had been left yesterday.
Most Of the overnight news bore
out the somewhat more optimistic
view Of the railroad situation which
had stimulated buying for . day or
two. but. In the absence Of any
thing definite or new with rerarc
to the settlement the rail shares
did not move ahead very far. Bust
ness In the bond market too, vas
rather q dull affair relatively, al
though prices svsrywhsre on the
list were firm A greater interest
was shown for several. Of the mid
die Erads issues.
Sugar AA..ery.
Interests clossly affiliated Win
the sugar industry. and aise con-
cernsd In sugar securities were
credited with heavy buying Of sAoss
stocks In the past few dsya AZ
fniatons OF these interests Pointed
out that the sugar stocks are ao-
tualiy selling st or below the isvsi
Of last spring when raw sugar was
quoted ihe per pound lever. Cuban
producers OF sugar are able 20 make
the commodity at 10 Q pound or
less. while the current price re-
ceived 10 very nearly the &c mark
which 10 expected TO be reached n
not crossed within the next few
weeks The claim 10 made that the
leading sugar companies should
show large earnings for 1873 and
more than offset the tremendous
losses sustained when they took In
ventories in 1891.
Estimates were made that Cuba
Cane Sugar will have q prediction
OF 3.5oo.ooo bags. which may be
placed at an average price Of 20 Q
pound. Refined sugar yesterday
was quoted at &c . pound and this
caused discussion as to the new po-
sition In which that price will put
the beet sugar producing companies
which are now about to harvest
their yield. Cuban American suesr
10 said TO be in the strongest po-
sition Of the stocks IN this group.
Effect Of strfkss-
All through the past week the
stock market movements were ap-
parently directed by prospects for
settlement OF labor troubles In
the coal mines and in the trans
portation field. and the professional
element on the Stock Exchange
which furnished most Of the bust
ness in the active stocks sold when
the labor situation seemed acute.
and bought when reports were re-
ceived indicating probable success
Of the efforts Of the administration
TO bring about a settlement The
impression prevailed early yester-
day that the labor troubles are
near an end. but market leaders
held 20 the view that the waiting
policy Is best and they were not
disposed to take q positive position
on the market until peace between
the railroad organization and the
railroad managers and coal opera
tors is definitely established. Yes-
terdsy II was commented on thar
many of those who had been buy
ers in the early part Of the week
had taken advantage Of q speculs-
tive demand to realize profits and
profit-taking sales increased in
volume after the early advances
supply practically all the speculs-
tive demand.
studebakee.
Interests concerned In studeesk-
er's affairs expect that dividend sc-
ton will be taken on Monday. Al
though an extra dividend was
looked on ae certain until the mid
die of the past week some OF those
who are in touch with the con-
trolling interests now expect the
opinion that the dividend action is
uncertain and Il 10 claimed that in
stead of an extra dividend declara-
tion the directors might make an
increase in the regular rate. Ths
suggestion was made that the ac-
tion will be determined by changes
that may occur In the labor situs-