The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-01-17
BEHIND The
TICKER

MN fOhh - interests active
IN world eurTencies don't believe
that ne British shift 81 the Bank
Of Englsnd's gold hoard 70 the
equalization fund VIII keep the
pound sterling stabilized at high
levels.
As previously reported here. the
fail OF the pound Is due 10 Eng
lands fall In world prestige. The
best Of advices are that the pound
sterling VIII DO better only after
Prime Minister Chamberlain Is the
victor In a major political event.
Switches -Investment trusts did
large volume Of security switch
ing during the last quarter Of
1888. This was particularly 50
with Lehman Corp
II sold 5000 shares Of Bethle-
hem and L. s. Steel. 1000 shares
of Youngstown Sheet 4 Tube.
5000 shares OF American Light q
Traction. IL 700 Of Arkansas Ma
tural Gas class" A" shares. 1880
shares Of Tidewster and 81 451 f3e
in treasury securities.
II added 10 holdings 1000 shares
Of National Steel. 10000 shares Of
General Motors. 27,000 shares Of
Commonwealth son, $500
shares Of Engineers Public Ser
vice, 5000 shares OF Middle West
Corp and substantial amounts Of
ayiations.
The above list Is only part OF the
switches. Largest sales we're made
in steels. merchandising oils and
rails. purchases were made in avn
atoms. motors. utilities and glass
issues.
Bought Interests close to the
American Telephone management
say the company now has a firm
grip on operating expenses. As a
result, larger earnings will be re-
ported with any business uptrend
II is believed the expected ss.75 a
share to be reported for 1888 will
be improved on during 1889. TAX
ing for granted the 50 annual divi-
dend rate is secure, there was long.
term buying of the shares-for
yield and possible price apprecia-
ton.
Compulsory -Undcr the leader
ship of the Long Island railroad
directly and indirectly controlled
and the New Haven railroad-both
by Pennsylvania eastern carriers
boosted passenger fare rates in
1888. Baltimore a. Ohio reluc-
family joined after warning il
would reduce revenue. Passenger
traffic declined some % per cent.
Now a move is under way to
regain the lost business. The
eastern group of railroads is hold
ing conferences on whether or not
to reduce fare rates. Baltimore &
Ohio is more than willing TO do so.
Should the Pennsylvania Rail
road group" sanction such petit
ton to the /. c. c., cuts will be
certainty.
Eastern rail heads know that
since passenger fares were lifted,
bus lines have been doing land
office business. With the New
York Worlds fair in the offing,
they are anxious to regain what
had been lost by stubbornness.
One official informed your cor
respondent that a lower fare rate
is inescapable.
Reports are that: Rail equip
ment issues liked best by long
term speculative interests
Square d to show about 81 a
share for 1888 American
Shipbuilding has a long-pull fol-
lowing--dividend rate to hold
At current levels United Air Lines
amply priced General bust
ness Improvement will benefit
Byron jackson Co. Portfolio
positions taken in J. c. Penney
always favored by investment
managers.
Crosley shares have speculative
following due TO company's con-
slant research for new products
. As. If and when conditions
in oil industry improve. Barber
Asphalt will benefit Colgate
Pslmolive-Peet has larger specu-
lstive following than Proctor &
Gamble Clark Equipment
has long-pull friends - benefits
from activity in auto and railroad
industries.
Liquid Carbonic revenues run
ming lower than anticipated
American Agricultural Chemical
has new trading following
Douglas Aircrsft's sharp price de-
cline from recent high figures dis
turbed others of that group
And, that Chase National bank Of
New York recently sold $4,000
shares of 10th Centry-Fox Film
still owns 236.75s shares which
continue in process of LIQUIDATION.