Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-26
NARKET REFLECTS
BUSINESS CHANGES
Comparison of Prices Now
land 10 and 20 Years Shows
;,
: Industrial Trend.
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April 25.-Is or Is not
the industrial progress Of the past 20
years reflected in the present prices of
securities? This and similar questions
are being asked today in Wall Street by
persons who have been in that district
since early in the century.
A compilation of leading stocks of
leading industries and their present
quotations, when compared with prices
of 10 and 90 years ago. throws some
Interesting light on the change in rela-
tive positions of American industrial
leadership and in financial fashions.
United States Steel at its high of
1911 reached SO, which compares with
rs for its 1920 peak and with 1868
its quotation of Friday. Bethlehem, in
the same period, was quoted at 10 and
&c and A77s.
General Motors Range.
General Motors in 1916 reached a
peak of and in 1920 hit a top of %,
but on Friday was 403s, while Packard
in the same periods was quoted at 8
and and 77s respectively. General
Electric at its top price back in 1911
climbed to and the same year West
1nghouSe Electrical Manufacturing man.
aged to reach SO, which quotations COM
pare with IL and 55 in 1920 and 427a
and 67A, respectively, on Friday.
II a shareholder of American Tele-
phone had exercised all of his rights
received, the top price Of that stock in
1911 would not have exceeded 1913,
which compares with ITO in 1920 and
1873 on Friday. Consolidated Gas at its
1911 peak was 81, while its 1920 high
was "a and Fridays quotation was 941s.
American Sugar, leader for years,
reached 1913 in 1911 and 143 in 1920
and Friday sold at 49%. Popularity
of the foods is shown by the peaks
reached in National Biscuit and Corn
Products Of and in 1911 and z and
q in 1920 compared with 70 and IL!
respectively, on Friday.
Reflect Farm Depression.
Agricultural supply makers are re-
hecting the farm depression that set in
since the war. international Harvester
sold at % IN 1911 and 80 in 1920
against 1919 on Friday, but American
Agricultural Chemical was quoted at
635 and $50 and IAN ON those respec-
tive dates.
Z The war use for metals also is re-
f1ected IN the mining list, where Ana
conda Copper and Americal Smelling
& Refining jumped to 81 and %, re-
Spectively, in 1911, and 81 and "a in
1920, but were 80 and 423s, respectively,
on Friday.
Rails and rail equipment companies
reflect only partially their recent indus
trial trends. Atchison and Pennsyl-
vania rose to tops of 1T and IS IN 1911
and 81 and A in 1920. while they
were quoted at 172h and 81 Friday.
American Locomotive and Pullman
reached % and IS in 1911, against SIS
and so in 1920 and 20 and Ala, respec-
lively, on Friday.
Popularity of cigarettes is shown In
American Tobacco, whose common
shares, unadjlsted for property distribu-
ton In 1913, rose to AZ against Al in
1920 and 122 on Friday. United States
Rubber fully reflects the troubles of
that industry, aS.its 1911 Etopwas 80 and
IN 1920 it was 40 against IA Friday.
Shipping Greatly Revised.
Oils, despite the world glut OF crude.
haze not equalled their levels of days
when automobiles and machines used
less oil or gasoline. standard OIL Of
New Jersey in 1913 recorded a top Of
% against As in 1920 and 379s Friday,
while Texas Corporation sold at % in
1911, at 48 in 1920 and % Friday.
Shipping has undergone considerable
revision in public estimation. Interna-
tional Mercantile Marine showed peaks
Of 20 IN 1911 and 259 in 1920, COM
pared with 101s now.
Prices in 1911 and 1920 were adjusted
TO give effect to splitups and stock diyi-
dents in excess of 10 per cent.
(Copyrtght. 1881