Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-28
Market ACTIVITY
AGAIN ON UPGRADE
Recent Expansion of Trad
ing Starts Talk of An
other Boom.
BIZ JOHN r. SINCLAIR.


BY JOHN r. SINCLAIR.
Special Dispatch to The Star.
NEW YORK, March 26.-Has a new
boom hit the New York Stock Markets
Have we again come to the days OF
four and five million shares? Yesterday
4.70O 900 shares changed hands, while
on wednesday the record was over
5000 900.
such as U, S. steel, Consolidated Gas,
II. @. L, American T. & T., Standard
oil of New Jersey, rose impresSively
General Motors went over $50, q new
nigh for 1880. Anaconda Copper rose
almost 4 points, to SIC. Other coppers,
too, were strong.
The irregularity in the second hour
of trading. when quite number OF
stocks dropped from l to points, was
largely due to increasing the money
rate from 3l5 to per cent caused IN
turn bv the banks Withdrawing $780,
600 900 from the market.
THE fact that the high-grade stocks
are being taken on would seem 70 mol
cate that investors are still conservative
in their stock market purchases at the
present time.
late. The inadequacy OF the present
stock market machinery 70 report
promptly a volume running rom 1our
to five million shares q day very
evident. ...,,oS
The new tickers are being installed
ranidlv. and are expected TO be reaoy
for operation some time tnls coming
Fall Until then investors ana opera
tors must be prepared to bear WIN tne
crowded ticker situation. ,,
The 5000 ,000-share day looks IKE
bie one now, but it will not De Ions
before 10000 ,000-share days VIII cause
no comment.
Anr,l q is the date when the stock
holders of the Youngstown Sheet q
Tnhe Co are to decide whether they
viii merge with Bethlehem steer OF
whether they will remain separate.
IT'S no drawing room battle-tnlS pau
tie for the control Of the YOUNGSTOWN
sheet a. Tube Co.! Bethlehem's lead
ers Charles M. Schwab and Eugene
Grace. are now In Youngstown directing
the fight. and aligned with them Is J. A
Campbell chairman of the board OF
the Sheet & Tube Co., who is tor the
ant CYRUS S. Eaton and his associates
Of the Republic Steel seem to have the
upper hand Yesterday they announced
that the Eaton forces have lined up
4f2.57l shares in opposition to the
u.
shares in favor Of it. The other 276,673
shares have not yet gone on record.
AS 1t takes two-thirds of the ! 200 900
shares of the youngstown Sheet q TUBE
Co. to make the deal, Messrs. Schwao
and Grace have their work cut out Tor
them. They must not only secure all
of the 276,673 shares not yet tleo up,
but also must secure 12,571 shares from
those which the Eaton forces now claim
he
votes is expected to grow more heated
"We expect to have at least 500. 900
shares by April g." said one Of Mr..
Eaton's closest associates to this writer.
Pick the winner.
Many railroad builders in the past,
among them Hill, Hartman and Gould,
did dream of a transcontinental line
reaching from the Atlantic to the Pa
ciflc. Not one realized his ambition!
Have the reticent but resourceful
Van Sweringen brothers of Cleveland
such a system in mind? Do they pro-
pose the creation of such system
through St. Louis by linking their key
trunk line, the Chesapeake g. Ohio, in
the East with the Missouri Pacific in
the West, in which they have recently
acquired a substantial interest?
Probably MOTOR several reasons.
The major reason is that should any
such plan be contemplated, other great
Eastern trunk railroads would quit Civ
ing traffic to the C. g. o. in the East,
to better protect their own interests.
A checkmating scheme!
The next few years may see the evo-
luton of a few Atlantic toll acnc
transcontinental systems. 1t is logical
because it's more efficient and eco
1ornical. at least on paper. Should
the Van Sweringens evolve some time
in the future an Atlantic to the Pa
cific" system-they would have the
honor of being the railroad pioneers
who established, under strong hand1-
cap, the first national railroad system.
canadas mineral output for 1929
reacbed the new record total OF 1907,
i1939-more than 100000 of min
eral wealth for every working day.
over the figures Of 1928, Ontario
gained a total of $17,000,0O0; Quebec,
$3.50 600; British Columbia, So, O,OOO'
and Alberta. more than $4,000 600.
Ontario. the most developed in min
eral activity, leads with total output
of $lI6,526,OOO, largely gold, nickel ano
copper In this province gold Is IN
FIRST place, and nickel Is second, while
copper, in third place, increased It's
output during the year from $5,808,OOO
in 1928 to $14,612,000 last year.
Quebec, next TO ontario, mlneu
s45. 3So. 900 Of metals, with copper mined
rising in value from $4,909,000 IN 1925
to Sl0,019, 900 last year.
Manitoba, considered for long only q
wheat-growing prairie province, is de-
veloping important copper and emo
properties, as well as cement.
Carrie mineral production for 1886
is expected to make just as good
showing.
In no country in the world have
American investors so large stake a.
in Canada. The total American invest
ment in the Dominion Is $4,000, 00O, 600
according to z. w. Beatty, president O.
the Canadian Pacific Railroad.
During the last two years the Unttee
States has invested 100000 montf
in Canada.
Peaceful penetration it is called
Not the kind that any Canadians OBJ
ject to. either. Rather a vote OF. con
fidence in the country" ....
AS the last two years have seen al
investment of $4,000 900 month, tn
next five years should see this increases
to double that amount. ..... ...,,
For American investors know Capaq
is for them the safest country in tn
world to invest their money in outSid
of the United States. ......,..,...l.
copyright. 1880. by North American News
paper Alliance.l
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