Evening star., 1922-08-26
CONDITIONS ARE
MORE FAVORABLE
Industrial Stocks Present
Firm Front-RaiIs Easier.
Marks Are Better.
BY STUART p. WEST.

NEW YORK. August 26.-Industrial
shares. rule, were well sustained
and a number of these were decidedly
strong, while rails were disposed to
sag in today's dull market.
There might have been some selling
in the railway list. induced by the
Presidents threat to seize all roads
which could not provide adequate
facilities as the result of the shop
mems strike.
But the slight decline in this section
of the market could have been ex-
planned Just as we'll by the technical
position-the necessity of som" re2c-
tion after an advance which had last
ed for over week and had carried
prices up five points or more.
Favorable Outlook.
The outside news, apart from the
strike developments. was favorable.
Latest Washington information that
the bonus bill was not likely to be
repassed over veto. was decidedly
welcome to Wall street 1t had no
immediate influence upon liberty
bonds or upon the rest of the bond
market of the day, but it was a sup
porting factor in trading.
Exchanges Firmer.
So. too, the check to the decline OF
the German exchanges was helpful.
Gable advices that the German reichs-
bank had sought to stem the panic
by dumping over dollars and foreign
securities in exchange for marks ac-
cunted for the recovery from FRIDAY
low of .O0045 to .00055, the quotation
today.
Market Features.
In the stock market there were a
number of interesting features. The
public utility group was notable TOR
new high records in North American
and Consolidated Gas. American To
bacco stocks which on the invest
ment yield have been selling out or
line. had a brisk advance.
An early decline in Studebaker was
speedily checked and the stock went
up again.
American Telephone and Telegraph.
with further recovery, continued
10 reflect revised view of the new
financial plan, which is that the new
stock will be readily taken and that
the extra dividend requirements will
he easily covered from the increased
revenue after the expenditure of the
proceeds of the offering.
North American.
North American continued its re-
markable advance and was easily the
feature of the days trading. The last
10 points of the rise has occurred
within the last few days since the
publica ton of the report for the year
ended July 81. on which 1t was f1g-
ured that over s22 a share had been
earned on the stock.
Cast Iron Pipe.
Another jump in the quotations for
pipe Is furnishing the incentive for
the buying of United States Cast Iron
Pipe common and preferred Both
have moved up rather quietly in the
last week The earnings this year
give promise OF being the largest in
the history of the company.
Remington Typewriter.
There is a possibility of dividends
being resumed by the Remington
Typewriter Company later in the year
or Just after the turn Of the new
year. The plants are said to be run
ming at capacity.
The Closing.
In the last half-hour Wall street
trading became more active. The
chief Incident was the violent decline
Of nearly ten points in Consolidated
Gas. Steel common closed one-haf
above the opening.
Railway shares. mostly redeemed
ground lost at the start.