The Washington times., 1930-05-10
Copper Shares

AS predicted exclusively in this
column, the copper group failed
to continue the advance that
came with such startling sudden
ness Thursday in the face of
a new reduction in the metal
price. AS was warned here, rise
of the copper shares is not justi-
fled until real demand for the
red metal comes from domestic
and foreign consumers. There
are large inventories on hand
and until these are unloaded,
there is no incentive for further
mass production.
Those who profess to- be bull
ish on Manhattan Electrical Sup
ply were further disturbed when
the stock collapsed yesterday to
IA, or four points under its previ-
Gus low. Now it is more than
40 points under the high estab-
lished last week.
American Tobacco B
One Of the most sensational
performers on the big board
recently Is American Tobacco B,
which gained nearly $40 a share
in yesterdays trading. The ad
vance is more spectacular when
it is considered that the stock
sold ex- the 81 quarterly divi.
dend, which means that the
stock net advance was nearly $12
a share. The rise reflected eX'
pectation Of an increase in Gig.
arctic prices and the hope that
the company soon will announce
split-up Of the shares.
Bearish at yesterdays open
ing and bullish at the close, the
financial community proved how
! sensitive it is to market move
ments. It takes but little good
news to make Wall Street smile
Zenith Radio
The rights to purchase new
shares of Zenith Radio expire
next Wednesday, May IA. Before
that time it is expected there
will be a fury in the stock, with
Zenith moving to higher prices
The new stock issue will net
the company $1,000,000, a great
improvement on it's present cash
position. 1t is reported by per
sons close to the management
that the company has contracted
for sale of its entire 1880 pro
duction.
Judging from current gossip
in the street, Lambert is gain
ing friends and is due for a
move before long. The stock
is liked for trading and for lone
time investment. 1t is yielding
8 per cent at current levels.
United Corporation
Ever since United Corporation
was listed on the big board last
year it has been a trading favo
rite. 1t has attracted wide at
tention this week through g
flare-up of activity at steadily ad
vancing prices. 1t is generally
recognized that United Corpora
ton is slated to be the kine
pin of the Morgan public utili
ties group, something in the way
of the apex Of a huge pyramid
The recent buying in the stock
seems to be of sound, long-term
investment character, although
there is a large volume of day
| today trading.
Coca Cola advanced yesterday
as was redicted here. Canada
Dry is the next one of the hot
weather" stocks slated for a
move.
Consolidated Gas
One Of the strongest stocks on
the board yesterday was Consoli
dated, Gas, recommended severa,
times here of late. While further
recommendations may seem su
perfluous, it is not though that
any harm can come of harpine
on the merits Of this issue. II
is practically certain that recent
buying has been for accounts OF
leading bankers. It has been OF
the best caliber. It is easy to be
lieve that the house on the corner
Morgan & Coz is buying the
stock, for Consolidated Gas
eventually will be an important
unit in the Eastern super-powel
hook-up which is being assembled
by this banking organization.
The market seems to be seeking
some other leader to supplant
steel which has disappointed the
speculative fraternity many times
of late.
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