The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-07-24
BEHIND The
TICKER
NEW YORK - Investment bro

I kkW fOna - investment Dro-
kers would like very much to be-
come bullish on security prices but
can't see themselves urging clients
to make long commitments while
commodity markets continue to
act badly.
The feeling is that II market
action on commodities is poor that
consumers and manufacturers are
not making purchases. and II man.
ufscturers don't make purchases
1t might be well TO take that as a
hint that they don't see much ahead
in sales prospects.
Yet those who make 1t a bust
ness Of studying commodity mar
kets, their history and actions, be-
lieve the worst has been seen and
that 1t may be that current price
levels will not be lowered by much
from here on. Moreover. they
point out that huge crops have
been discounted. They believe in
yestment brokers can now turn
bullish II they are waiting for COM
modify prices to do better and II
they aren't using that merely as
an excuse for continuing their
cautious attitude.
Cotton-It's this setup Of for
eign sentiment that will work
against Secretary wsllace's plan
to create q regulatory world cot
ton production and export quota.
In this case, too. he has power to
subsidize some $500, 900 bales.
Talk is already heard from Liv-
erpool and Bombay that If the
United States dumps American
cotton in export markets, prices in
that staple will start on a down.
ward movement which will dupli-
cate that of grains.
The department of state recently
issued invitations to 10 major cot
ton exporting nations for a meet
ing to be held on Sept. in Wash
ington, d. c.
Records - Studebsker corpora
tons second quarter sales volume
was the best of any three-month
period since 1928. The total vol
ume for the period WAS $3.50
units, against only 10,305 for the
like period last year, and 19,746
for the first quarter OF this year
For the first six months, Stude-
bakers sales totaled 53,l76 cars
and trucks. This volume exceeded
the full 1888 sales volume by ST.
units. Company's management
says that 1889 total volume may
establish a new record, since bust
ness in general has favorable pros
poets for the balance of the year.
Reports Are That: Pittsburgh
Plate Glass to spend $1,70o, 900
undermining its No. 4 works at
Ford City, Pa. Long-pull posi-
tons In National Steel and Inland
Steel not being disturbed Be-
atrice Creamery shares liked be-
cause of liberal dividend distribu-
tons Crucible Steel not ex-
pected TO show more than So
on preferred shares for 1899
means deficit for common shares
unless war orders become unusu-
ally large in size before close of
year -.
Baldwin Locomotives subsidiary,
Midvale company. doing rather
nicely on other than large NUM-
ton orders For greater specu-
lative appeal. Container Corp
shares being switched into New
port Industries Mack Truck
running into scale-down buying
Long-range opinion is that
General American Transportation
will pay $2.25 in dividends this
year
There's some switching from
Alaska Juneau into Commercial
Solvents And for seasonal
factors. there's switching from
South Porto Rican Sugar into
Canada Dry Ginger Ale {. Spec
ulative buying coming into Indus
trial Rayon and Celsnese. Stats
teal opinion is that Colorado Fuel
& Iron dividend prospects are re-
mote And. that Phelps Dodge
booked City of Chattanooga