Evening star., 1923-03-07
POOLS AGAIN PUSH
STOCK PRICES UP
Selling in Some Quarters
Goes On as Other Issues
Go Much Higher.
Bl SIT ART y. WEST.
cppria' n-SuJtrh fn The Star

Special Dispatch t" THE Star.
NEW YORK, March In today'<
stock market essentially the same
traits were shown as on the day. OIL
two preceding. Pools and profession.
IL operators continued to show theil
hands in u series of sharp uprushes
II - lcCtcd stocks. But these move
incnts quickly pctcred out and while
they were going on the rest of the
list was dragging along with very lit
tie change
Tltr reaction today was very sharT
in. motor supplies stocks which have
recently been cutting such capers-
stewart Warner. Stromberg ant
meidl shares appeared to have fully
discounted. for the time being al
least. tn" rise i'll metal prices and Tho
tan -k"pnecntt deal These stocks
Wer" All lower, and the StrclS dragged
along m"-t "f the session without
&Cins anything.
oil shares Are Active.
S"sn' "t III" oil shares warc in dc.
-nand t"daN. notably CoSden. whicl
cot .,u">" 40 again, Texas Company
and t:'u"ral Asphalt. Maxwell Mo.
,orS M"r" conspicuous 10y reason o
IN advance. while other members ot
III" sr"ur We're doing nothing.
III" rise in Tintl>"n Roller Bearins
20 -" high prices apparently re-
.eSi"d recent optimistic expression:
from banking sources close to the
company. Th" leather stocks were
hcH2ht again on the ground that they
had not been taking proper account
IN IL" recent market of the favor.
aal" turn II tn" hide and leather in.
dHS' aud tn" higher prices now be.
.u% "mlaiu"d for these products
othtr *pcCialtics that at one time
or ;'h"lh"r cam" in for attention
Nvr" American Writing Paper pre-
f"rro H. Wilson and Company. Pitts
hu"-h t"Hl. Columbia Gas and Asso
c1attd Dry Goods. The annual re
Hcft ~ the latter company show.
ing earnings Of nearly $3.50 a share
ca ilr" C"Ulm"u stock was better thar
TN street had expected although ar
eNrrllant showing had been look &c
for
Re, lew and Outlook.
some "f the Individual advances ir
IN" share list were again quite re.
narkahl". show ing the holiness OF
"p"r"i"r> f"r the rise now that the,
haEt speculative ina aginatiou work et
rp ~ a htGh pitrh by the recent pyro
technics in Industrial stocks
IL was "l1r" NOR" Very noticea BILE
though. that whilr new favorites
X" tho railway equipments the oils
Inc I"athcrS and Il variety of the so.
vs,li"d -p"rialticS were being pushed
mr. or less violently forward las,
.Le#k : leaders. such rs the auto sup.
ll% stocks and the cnppers were slip.
i'iiI.. behind.
T,t* might BE- due merely to Tho
Sliitin- of active speculative ac.
counts our ui stocks that had ceasee
- move into others which SCENE,
10 offer more promise of a speedy profit
5Hi tn" main point was that in the
stocks where speculation for the ris.
h2d ceased and in which profits were
heinG taken, the reaction was quite
AZ rapid a. bad been the preyiou:
upward swing
This IS always characteristic of .
H,drk't ~ an advanced speculative
stage where the buying is being done
40, with any idea of Il permanent
b"ib or with any regard to actua
value. but simply with the purpose
"t making quick turn and getting
out before the buying wave die!
AWAY.
tonccrn In Bank Rate.
discussion continued as to the pos
S.b;i;'E - this weeks meeting ot
another advance in the New York
Federal Reserve Bank rate. The
stock market in its confident MOOD
If"f"SSed not to be at all afraid or
thi~ score. but the investments of the
D"Hd market gave more heed. Al
l@ast the investment attitude was thai
Il '"l this week. then in no great
~ - t''"" q rise in discount
rates is inevitable the way trade and
',-.-t.''ti ar" going now.
:; Is. luitc possible that importan
a. Helnpncmt Will cone next week ir
ll~ plan Of capital readjustment
which Is being worked out by the
II on PruductS Company. 1t is not un.
!iE"iY that stock holders will then be
a9priscd of the terms of the eX-
'hang" of th" present stock into q
~ Nidsnd paying preferred and d new
common. The latest information or
lion Products business is that it is
.'""h"d ahead al fun capacity for the
:siN months and that it's earnings are
cunning at the rate Of about S16 q
share on the common.
Electric Storage Battery.
Earnings at the rate Of ABOUT SIS
g. share hY the Electric Storage Bat
tcrl Company against a regular divi-
dcud rate OF &, Il year with extra
payments in cash. recently lave been
III" incentive behind the buying of
E. ok. E1cctri" Storage Battery is
reported 70 he booked well ahead and
The generally satisfactory condition
o. the company has caused some
r,corlc to look for furth"r extra divi-
tlend distribution during 1923.
= eel shares had a little Spurt fol-
lowing the publication of the trade
reviews. hut were not as responsive
~ might have been expected. 1t was
significant that with all the optimism
ir.#rding the copper outlook and
fur zinc. neither of these two groups
cr stocks did anything in the market
0f rhe daN.
Copyright, 1927 -