The evening world. Newspaper, May 2, 1921, Page 16

i | — | 5: ee Wews received just before the open- "mg of the market this morning that the Allies had mutually agrecd to five, Germany a respite of ten da eoefore further 5 demands upset carefully laid plans of the big bear element, and prices @ iminitial trading showed a generally } firm tone. Where was a sharp drive against + Mexican Petroleum which soon cur- ‘ried ‘that stock down to 143, et bore than 5 points siwhfi the close of Saturday, and € this served to unsettle the remain ® der of the ol] group. There also 4 was evidence of bear selling in (Studebaker and Chandler. The for- ther sold down to 87 1-4 for a Joss of ' 2°29 points, while the latter de- *olitied 11-4, But other parts of the "Market showed such firmness that forcing reparation a loss compared STREET Dear effort In these stocks could not | {the sustained and shortly before 11 , o'clock a brisk rally sot in which arried Mexican Petroleum up to 145| 3-4, with the other oils rallying in “sympathy. Meels maintained a firm tone. United States Stee! fluctuated within a Orange of three-eighths of a point, Sut the independent stecl shares Tose from fractions to more than @ point, Rails were comparatively inactive. but fractional gains pre dominated, ire stocks were unaffected by the| more or less surprising announce ment which came over the week end that the Goodrich Company and other and smaller manufac- turers had decided to reduce prices | 20 per cent., and neither was there & Gisposition to ascribe the early umsettlement of the motor shares to the announcement by the Mar- mon and Jordan Automobile Com- panies that prices have been cut from 15 to 20 per cent The unfavorable showing of the * Clearing House bank statement is- osued after the close on Saturday was without effect. Money re- newed at 7 per cént. a1 TO 12. da the market went into the second ‘hour activity increased and trading broadened out to such an extent that all groups of stocks joined In the rise. Vanadium Steel jumped up for a gain of more than two points. Mexican Petroleum which sold as low as 143 in the first hour, touched 1478-4. American Tobacco registered a gain of about three | points and carried the other tobac- ©o shares up for proportionate ad- vances. Boppers became prominent with Utah and Inspiration both advanced well | beyond a point. Reading became | the leader of the rails, extending its gain to two points, Sears Roe- buck was practically the only tock of prominence that continued & to ghow a weak tone. It extend. its decline to two points while othe parts of the market were strong fhe better foreign stimulating effect on the’ foreign exchange markets, During the first Dour demand sterling went up to 3-4 for a Rain of three-quar- ters of a point and in the second hour touched a new high since July 2 last at $3.971-2. ——$—— 2 TO 1. ee it. outlook, had a here was little if any decrease in activity during the third hour of trading, and strength was well maintained. Immediately follow- ing the announcement of a strike at the plants of the International Paper Company that stock shot u to 66, a gain of nearly three points and a new high for the year. F who depressed Mexican Petroleum ‘to 143 were given a severe whipping upon publication of the denial by Gecretary of Commerce dioover that Government agents had reporte that Mexican oi! fields had pract cally dried up. That stock shot up toabove 150, Steels equipments, motors and miscellancous indu als steadily maintained early rf vanees despite a large amount of profit taking, ns i702. ———— ‘There wan no let up in the volume of trading which was much the heaviest of the year. Transactions to two o'clock totalled — 1,000,000 shares. The few stocks © in- clined to be backward In early deal ings joined in the upward move ment and the broad character of the trading and the strength ail sed BANKING AND FINANCIAL 9 a Hons of the market displayed mu the forward movement the most impressive witness thus far til year, A further Indication of how! the market now can ated unfavor- able news was found in the at Nouncement that the largest copper Producers, in an effort to stimulate | new business had siiaded prices, | and were willing to make immedi-| ate deliverios at 125-4 cents 4 pound. Immediately following the Publication of this atatement the} entire copper group moved up to| new hights for the day, with the leaders 1 gains of gistering ue about two points | —_— | 2T0 3 Purther profit taking came into the market during the last hour, which was to be expected, considering the Sterling, demand, 3.96 3-8; | up 3-8. French f1,, de: | mand, .0793 3-4; cables, .07843-4, up 0011 1-4. Lire, demand, .0481 1- cables, .0482 1-2, up .0008, Marka, d mand and cabes, .01563-4, up 000 Swedish, kr., demand, 234; 299, up .00%. Belgian, fr., demand, 0783; cables, .0784, up .0011. Guilders, demand, .321; cables, .3523, up 008. At 246. cables, 3.97 1+ Argentine pesos, demand, 707 cables, .7000, off 0040. Austria, kx demand and cables, .00267-8. Swiss fr, demand, 1761; cables, 175 Pesetas, demand, .1400; cables, .14 Norwegian kr., demand, 1555; cubles, 1560. Danish kr, demand, .1815; | cables, .1820. Speoulators in the motor stocks | and the pools operating in these is- sues insist on staging a business war between W, C. Durant and the eral Motors Company. ‘This fancied war has reached the stage of discus- sion where the probable line-up of attack ts being named. Durant, ac cording to the story now being told Is so disgruntied at alleged bad tre ment received from t he du Ponts, the Morgans and others who took over | his holdings in the General Motors Company several months ago that h has determined to wage @ war to the finish. The juggernaut that will attempt to tear a breach in the General Mo tors business wall will be a solidation of the Pierce-Arrow, thy Studebaker and the new Durant Mo tors Company, Rurant's lieutenants according to the Wtory, will he sey eral big bankers and a half-Aczen of | the largest independent steol men Tt is broadly intimated that ©. M Sehwab will be One of these. If thr pools operating In the motor stock: have their way, this proposed bust ness war will make the memorable fight between Harriman and Hi! over the Burlington Railroad seem child's play ‘by comparison, It is te be presiimed that these stock market pools will give the principals int) drama due notice that the war is on Thus fur they know nothing about it It was announced to-day that oper ations of the Alaska Gold Mines Com pany will be suspended during th latter part of this month, and that mills of the company will be disman- tled Presidents of the various subsi diaries of the United States Stee! Mporation conferred here to-day with Jud BE. H. Gary, execut) head the oration, No state- ment was forthcoming aa to the ob ject of the conference but the finan- I district believed that the ity of reducing wages was tl of discussion. t top BANKING AND FINANCIAL. BROAD STREET OFFICE 50 Broad Street Telephone Broad 7150 Offices in 8 Principal Cities A Valuable Guide Book For Traders Sent Free It tells: The General Rules of Trading—The Rights of Steck and Bond Holders—The Deposit Requirements for Carrying Stocks—How to Give a Broker Instructions Broker's Commission Charges Certificate—How to Group Investments. Call, phone or write for No. E.W.-415 Ask for latest available news on any active security. JONES & BAKER Members of the New York Curb Market 42nd STREET OFFICE 505 Fifth Avenue Telephone Murray Hill 7120 | How to Indorse a Stock MADISON SQUARE OFFICE 225 Fifth Avenue Tel. Madison Square 1377 Direct Pri 99 | | Do t Aue Am Hath, New % + Am Mawh May tg CN An Brake si yw ui Am Cn a m tht Am Can 4d * x Aun Car & Kum ‘ , Ain Cur & HV Am Cotton O11 ‘ » Am Drig " Am Eyre yb ay EO. Aen Mite & 2 i i am Whe wt a 1M Sin rw ” Am Intemational, Gy We tata od ‘ ‘ ' Lacemmutire. ‘x 1 Chern, 4% s fame. 8% Th 6% ‘ «& HS 0% Lh + 1 & itt my 40% » Amn Sen & ht of 78 mS io extent of the rise, bus these profit | sa taking sales were well absonbed and | An % the market held most of its early | Aa is gains. There was evidence of bear) Ae ; demoralization In Vanadium 1, | Amt Fe which rose thre points, in je | Ae can International, which rose ap- | A" pre ately five points, in Ameri | 4m can Woolen and other specialtios in) Am which the short interest has teen | Sai fue 00 y langest. The tone at the close wos | Am Zane g¢ strong and final prices were ner | Assonda . 4 the highest of the Aveo Dery hours io 1 The strength of the stock market | Aretiison 1 pov | had a fo ible influence on the cot- | Ad Gale & W w% ON ton and ¢ markets, Cotton rose |All Galt & Wolf oy more than $2 a bale and wheat ad- | Auanuc Frut 4 vanced three cents a bushel. Habhein Lane Oi at oot Pee Ralt & onto fh uy Om F Ti & Oto ef. 60. «4M te} Uaunden Mine % Ow Wet deeol ot W ll S G © Flite Steel 8 we oa + oath aberion th 5b OO EO all Ot. Gossip] irom Reute. ‘Tene ; | Bineee Cay & Zin LARERTY BONDS OPENING. | Butte & Suer Liberty 2d 48, opened 87.20, up 06; i “a4 y [2d 4 1-48, 87.20; Rd, 90.38 off 06; | (Ae fmt 4th, 87.44, up 12; Victory % 3-48, | (aur petrvicum 97.68, off 20; 4 3-48, 97.70. Cal Petroleum pl FOREIGN EXCHANGE, 4 tae ed » de Pas. Chandinr Motom Chen & ObiO, . CMAP IR OMA SEP RR pt Chie Great Wentem Chie Great Woe yf Chile Copper Chin Conner Iron, , & Southern as & Peete Col Columisa Gmgbe Comp, Tat & Mee Consol DieeRyited Oonwol Gan Consol Textil Con Inter Cal Min Cont Can Cont Candy ‘anton Oi) Corn Products Steel ne Sg Oba Cane Sue 0 Cuban Aen Sugar Den & 1 Ton & Mines » » Ww +KING AND FINANCIAL, Public Utility Bonds Yielding from 796 In these times of railroad and industrial uncertainty careful investors do well to consider the securities of these public monopolies. A wellselected list of conserva: tive, desirable investment issues will be forwarded upon request. L.L. Winkelman & Co. 62 Broad Street. New York J olephome Bread 6470 dreneh Utes m Lending Uites Direct Wires to Varvons Markets DANCING ACADEMIES. DANCING CARNIVAL ST. NICHOLAS RINK 66th Street, near Broadway Dancing Fiery Afternoon and Evening, cluding Sundays, 2.30 P.M. to 12.30, 3 Lessons (jist) ) 30c Not necessary to take lessons. Lady Floor Manager will introduce you to suitable partner for danc. ing. Learn to dance at this popu lar institution, Roller Skating on Ground Floor. Dancing on Second Floor, FUNERAL DIRECTORS, Anywhere “Campbell Service” Call “Columbus 8200” PRANK ¥. CAMPBFLL “THE FUNERAL CHURCH” (Non-bectarian) 1970 Broadway at 66th St. Dewntews Otfice, 23d St. & Sth Av. LOST. FOUND AND REWARDS, | Tait —Doako ume, opataising Keyes hesseale An Metra” seen 3 : pa MEETINGS, | Fatih ‘other operly hop Th ISTLAN. i we HARRY Jf POWLPH. Secrtary. { Gut stat 8 Nase Hewitne Howmiens Totme (ham « Inter Agr Inter Aw Inter Motor Kan ety Kole Wied Kernrontt Comper: Keyatooe Tite Lod Wir & Ley Ths bow Latbigh Valle: lat, Ine Verne AV ite Lamtian! Tania & Newville Tema Low Man Blesated 1% 140% “ sins Maxwell Motor ¢ “ “+ May That Steve \ Mex Woteoleevn 1 \ A . 4 Mex Ie rok » ow « m Ite ‘ | shame, Miele Statin Oi ‘ 1% emn 4 ; “ Mid 5 x ‘ a 190 Acme. ¢ Minn & * A han " ' ' + | ie Auto 1 ‘ 4% al aad Ou big d % | 50 titer ative 1M , Fs Be + Wat ieee: i Teak, toe | 20 WNateetton Tite tt i #4 459 TH] ayo 4 Cone A i Me | $00 7 8 Steams i See a 2 D. 4 + 10 United tee Cand eer 409 Jumbo “IN Y SAH tb) . STANDAILD OILS VY A Weer ‘ ti 2) WO Amto-Am OU... 11% folk & Weeen .o % a 2 blo Ott 100 5 | Noe thant el iy 12 | 3098 8°O of Indiana, t San é : +1 | wSOmnNyY ra 9 Lonabbing 4 4 4 4 INDBVENDENT O1LS pee a . ioe auee % | 4500 Alte On wen ir weal bbe Um ua + Mi Nat Gas 4 | ot 190% O% + 2/1 ” 65% $00 Hovee-u: ot =: sf wt iol arth Synu * 7 $ | United Pr + im Service Nth ae bed in Daten ‘eels sty tte ta Denny Ot 7% adit f ! tay ¢ “ * 0 HTK Hagin Het ° ; ‘ Peete ried » Engtarers Vetroteum wv z 3 Wederal O14 rch ™% ik u 70) + om . : a ce Int prvi 101 i : he ‘ 4 Ny as ‘ C1 i 2 e ! Hi) I Maden 07 . ' +0 ‘ sip i Int Dytrot wy 4 r . ” WS LON Keymune Manger 1 i) iM of “ be: 0% Lavinyrston ‘ “ ‘ oe 4 Jacmenaitey 111 x s re nis ed . Marianne 1% 1% | prattman Coma " Ww Merri o he + dante Alea Sagar. & , ‘ Sen Imestinent ' ; sue oy é Mextay Oi! Ye oi of oop Ser of Nt & o +14 1 Midwom Met 0 ‘ 186 SL teren Ol 0 7 ; 4) Mountain Prod re 1% 2 " et et) 1 Par Neble Ot ‘ “a See ee shenises ) Naw v0 TOs Mary ail Naco Oli if a aa MoM yee 0k OL er " ne Ret Rak O11 Loe ' +4 fiona Iya wee SB | AND OON GutE q 1X | Wonetinn Pigeons ct ees Eid White. Mor im Tt Mo 2 ) Wihite 01 ails ON % 3% 4 2 Nt m reson Oo I + He] tom SONY * Wx United Tex O18 » % “if nS ONY Libs St United Meyalty ho x ON YF 175 om th Th rigtite 100 Victoria OM new... ™ “ & Uo MINING Mieh u THE OUTSIDE MARKET—2,30 P. M. 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