The evening world. Newspaper, June 21, 1921, Page 20

10 TO il. Trading on the Stock Exchange this morning again was highly excited, but prices generally firmer tone. Transactions were on @ buge scale, and during the first hour of business were at the rate of 2,000,000 shares for a full five-hour ‘The opening was irregular, with gains predominating, but a new bear as- gault soon carried many down to new low marks for the year One of these was United States Steel, which dropped to 101-2, The previous low mark for the year was Railroad stocks were theavy pressure, declining from good sized fractions to more than 2 points and in the ol! and industrial groups early josses extended to as much as demonstrated that the market is in & heavily oversold condition and} that its technical or inside position thas been vastly improved. The de- cline failed to uncover any conse- quential amount of stop-loss orders | ‘and neither did it result in forced | gelling of large speculative accounts | that may have become weakened by the market's recent sharp decline, ‘The market's greater resistance pressure caused the big bear el ment to cease tactics, and prices Vigorous fashion. early declines hammering amounted to 2 points ‘There seemed to food buying motor shares, and these groups led the upturn. What aided the market's forward movement was the fact that the call money rate was reduced to 5 per ‘This is the lowest renewal rate for call money since the latter part of October, 1919. ‘The commodity markets closely followed the move- ments of the stock market. Cotton advanced $1.50 a bale in early deal- jmgs and wheat rose one cent a railroad and 11 TO 12, _— ‘Fhe market's rally continued dur- ing the second hour. customers to severely alone to-day recommended the purchase of stocks. fidence in the situation has been are the biggest in the history of the go shaken by the alarming rumors company, helng 15 per cent. ahead of that have been in circulation that public buying continues to be al- poration, according to Its report, most negligible. The upturn seemed to be due to short covering and Buying by professionals who be- Weve that prices are scraping on Rails and motors continued to give the best account, mike the best mearly 3 points and other standard @ividend payers rose from 1 to more than 2 points, Gains in the motors group averaged about 2 points. —— Although trading slackened up dur- ng the noon hour, prices main- tained a firm tone. be the concensus of opinion that) ‘Danking interests were supporting What added strength to this view was the fact that banks, for the first time in several weeks, were offering time money, Also the! call money market showed further relaxation and funds were obtain- eble in the outside market as low @s 4 per cent, Im a number of instances advances over the low marks of yesterday extended to as much as 7 points. @teel shares, which showed a back- ‘ward tendency during the morning foined in the States Steel rallied well beyond a point. Declaration of the regular dividend on the preferred stock by the Kansas City Southern, follow- {ng the regular dividend by Great increased confidence the railroad list, and net advances ef 2 points or more were common. It seemed to the market. Prices of many stocks touched new igh marks for fourth hour. ‘went up nearly 3 points and carried the rest of the oil list with it, @ence of urgent short covering was found in the sugar and motor lists Btudebaker, which had sold as low @s 70 in the first hour rose to 73 7-8. The only evidence of bear gressiveness was confined to Ameri- en Woollen and Atlantic Gulf. |ty.one years ago and have three chil- ‘These stocks reacted about 2 points, |drea, but the rest of the list refused to be disturbed, 2 TO 3. Strength was maintained to the close In fact, highest prices of the day were registered in final trading. Commission houses reported a large for investment account, as most of the stocks #0 purchased are paid for in full and are being placed in strongboxes, Most of this odd lot buying is in the better grade of railroad sha One house stated that the odd lot buy- ing orders they executed to-day were larger than for the entire weeks ended jast Saturday. Beara con- tinued to circulate unfavorable ru- mors, but with the turn in the mar- ket’s trend these rumors received scant attention. Strength of the stock market con- tinued to favorably influence the commodity markets, Wheat ended the day with a net gain of 33-4¢ 4 bushel, and cotton closed with gains averaging about $1 a bale. alinendgiaiais Wall St. Gossip Another healthy indication in the Nation's business was made evident to-day in the report of increasing freight shipments. The number o idle cars, which on Ma 8 reached 471,922, has been reduced nearly 109,- 000, The latest available figure 1s of June 8, on which day there were | 6 cars standing idle, A further | Harnwdale 1 =| Caddo Cent Oil tone Calif Potroteum Calif Petcol wf. In one month, | Canadian Vacitic . 82,000 hitherto , 389,5 reduction since been made. Ac cording to railroad men there is a steady increase in traffic despite the usual summer lull, from May & to June 8, ‘\dle cars were placed in fre! vice. . The Philadelphia Rapid Transit Company will spend upward of $4,000,000 for repairs this year, accord- ing to announcement by President Mitten, The company’s report for May places its total income for the month at $1,101,680, an increase of $131,195. Surplus after charges is | $284,737, an increase of $131,706. For the first five months of 1921 the sur- plus after charges is $824,847, an in. crease over the corresponding period | of last year of $852,135. According to Mr. Mitten, the company will spend It was, in money on much needed repairs of fact, the best demonstration of roadway and rolling stock, after gtrength the market has given which dividends will be considered. Bince the decline set in about three weeks ago. Evidence that stock quotations do brokerage not always reflect the true business that have been advising condition of a corporation but be- the market have in a manner unjustified by earn- ing reports is contained in the report of the American Tobacco Company. Sales for the first five months of 1921 last year's record. The same thing is true of the Tobacco Products Cor- which states that May profits have set a new record. The New York Federal Reserve Bank js to-day withdrawing $12,000,- 000 United States deposits from member banks. A reduction of 1-2 cent a gallon wholesale was announced to-day by the Standard Ol! Company of New York. The wholesale price is now 24 cents a gallon. LIBERTY BONDS. Lib, 3 1-28, opened 88.02; 1st 4 1-4s, 87.36, off 14; 2d, 86.70, off .04; 34, 91.42, off .04; 4th, 86.80, off .08; Vic- tory 3 3-45, 98.40; 4 98.42, up .02, FOREIGN EXCHANGE CLOSING. At 245—Sterling, demand, 8 743-8; cables, 3747-8, off 8c. French franc! demand, — .0800 1 cables, —.0801 1~ Jom 0012 1- demand, .0499; Lire, cables, 0500, off .0006c, Belgian francs, demand, .0 cables, .0793, off, .0011c. Marks, demand and cables, .0143, off 001, Greek drachma, demand, .0618; cables, .0628, off .000%¢, Swiss franca, demand, .1688; cables, .1690, off .0010c Guilders, demand, .3821; cables, .3: off ,0010c. Pesetas, demand, .133: cables, .13%5, off .0003c, Sweden kr nen, demand, .223%; cables, .2230, off 0015, Norway kronen, demand, :1425; cables, .1430, off .0025c. Denm:; kronen, demand, .1707; cables, .1712, off .0013¢. DIVIDENDS. The Canadian Car & Foundry Co. Ltd., declared regular quarterly 1 3-4 per cent, preferred dividend, payable July 12 to stock of record June 28. The Midwest Oil Co. declared mg- ular quarterly dividends of 2 per cent. on the common and 8 per cent, on the preferred, both payable July 15 to stock of record June 30. ame ADMIRAL GETS DIVORCE. Gir William Nich: American War Aviator In Suit. LONDON, June 21.—Vice-Admiral Sir William Nicholson was granted a divorce to-day after hearing of a suit which his wife did not defend. The co-respondent named was # "Capt George Jones of the American Air Force, who the Admira\ testified had been billeted near the Nicholson real- dence during the war. The Admiral “| said his wife had told him she desired @ divor ‘The Nicholsons were married twen- SAR iiaip be: ny THE EVENING WORLD, TUESDAY, JUNE zr, 1921. SAYS HARVE MADE STOCKS FALL INDUSTRIALS, " | Middle Staten OF Adama Rxprens Middle Staten 0% 200 Aema Coal hb Am Tob coup Anglo Anier O17 !69 Armour & Co Minn & St fais. President « Babson, noted statist in an address at the al Kiwanis Club's convention. “American financiers had been liv- ing in hope that the Harding Admin- istration would support some sort of ague of Nations,” 100 Inter Tubber 600 Perfection ‘Tire Am Age Chen Honch Magacto 100 Tobacco Products. Now York Overs: New York Dock & Foe Ary 118 FORKIGN BONDS, sited Terai Candy Norfolk & Western “SOWING TF | IS A TENDERLOIN AND |**8'"* BROADWAY FILM STANDARD OLS. Onsveum Creat 140.8 © of New Yor 2200 Allied O11 ) Arkansas Nat Gas Stewart, is the fe: JOnene Notting ture dramatic film at the Strand Theatre this week. This is a First National attraction and di- In this melo- drama Miss Stewart portrays the role of a girl thrust into the environment Tenderloin. much Her mother 1290 Boston Wyoming ohn M, Stahl Pan Amer te fh Penn Seatoan! atv nn Seaboard 8 against her ‘queen” of a . but Anita gets out and is nexc of a Broadway pro- seen as the his wife |from a $200,000 estate, was a stitutional paranoiac of Dr, Henry A. New Jersey State Asylum for the In- “it James Morrison and v4 jie ™ 1h |Piemoe Attow of Josef Swickard. Ditt Anirgh Coal Cotton, Vite & W Va., Hord Cresk Coal House” provides the fun for the eve- 4 drawing, Avan Tteatination Amo Dry Goodly Prullmas Company complete the Panta Ale Sugar. 400 Merritt Out OU Midwest Ret Hr Ger of NJ 800 Mountain Prod Varia & Bingham. KIPLING SCENA RIOIZED, WITH VIRGINIA FAIRE ON CAPITOL SCREEN Atehioon Ry pt Atlanta Birm & Atl 2°00 Ouio Ranger Reading 2a pf Remington Tye At, Gulf & Wop 409 Pennok Ol 200 Producer & Refiners units make up a first class film this week at the Capito! The . Rey Iron & Stoel Malt & Ohio of a Beth Steel 4 p 0 Texan O & bn Benefit of Cle 0 Vnlted Tex Ott 109 Vaid Moyalty 100 Ventura Con 0. a Rudyard Kipl story scenariolzed under the Engl rsonal supervision. Se Jomyh Lead Whiyn Rew ‘Tren tion of two small children, Arthur and Edgar. G NEW YORK TAKES HIM 2 YEARS Brown Faire is th Benefit of C Holding playing roine of “With. with Thomas eason Capitol pa- trons listened to Sascha Jacobsen, the “Souvenir de while the Capitol orchestra es from Victor Herbert. sah eh ea /DUPED ALIENS, IS CHARGE. f Income Tax Conspiracy, In Held, Percy Randolph Daniel | No, 315 Bastern Parkway, Brooklyn, un- | Ul recently a Deputy Internal Revenue was arraigned before ‘Commissioner Shattuck Arizona shell T & Mother of E: 300 Kureka Croesus 500 Kureka Holly Slawehoft steel, Southern Pacific. . Soutien Ry. . Southern Ry pf... ‘Central Leather 1200 Gold Kewana oe 1000 Gold Silver Plek.... 1600 Great Bend Contra) Leather af Weht Ser-| Goro De Parco Stami Ol NJ pe. Stemart- Warner Chandler Motors Chex & Ohio... 1200 K Francis EA Submarine Boat... ; 1000 Knox Divide OM & StP RR of CRI&P6pC of 1000 MeNamara Crescent. CRIA Pipe pt ide Gt Wertom... Obie Gt Weat of. Suadibmker pf. Implicated with him are Anthony |*fomacci, No. 14 Leroy Street, also for- uity collector and William H, scribed as a bank clerk. Henry had charge of room jin the Custom Hou: aliens were examines jon the income the Government to coll aliens going to their old hom: ‘Texas Company 240 Mother Lode new. Tern & Pacific Tex & Pac Coal 1200 North Star. . where departing as to their status | It is the policy of | 1000 Rochester Mines COCKS... Trame & Will Choott % Peabody. © Silver King Divide. 00 St Crotx Mines 50 Superior & Bost 200 8 Silver Lead. 1000 Success Min. 800 Tonopah Belmont 800 Tonopah Cash Boy. 1710 Tonopah Divide 500 Tondpan Ext 1000 Tono-Jim Be. sscseers 1000 Tonopah Midway 100 Tonopah Min 120) Tunopah Mizpak 1700 Tonopah Montana. 400 Tonopaa Tescue Eule 4900 United Eastern the entire The receipt of against Henry and Tomacci is that aliens and put the Col & Southern. Col Gan & Ble. Colymbia Grapho Comp Tah & Tee, Union Pacific pt | mulcted the their pockets. acting as steerer ——— 1 1a | LIGHTNING COOKS SPUD. u wean Who W capen, but Knife In Melted. PITTSBURGH, June 21 peeling potatos Kitchen sink during a lively electrical) per annum, en an aluminum. | $2,000) enti was a lightning Unitet Pood Prod. Un Ry Inv Co .. Cowaol ‘Textile Con Ine Cal Min.. Un Retell Stores, . Peeling It En- & Ind Aloobol, . S Real & Imp o trustees have * | Our Products Mrs. R. H. 5S Rother tat gf, Cuba Cane Sugar. . Cuba Cane Sumer pr Qwhan Am Sugar. . @aaasa | 1400 West Ind C 1000 White Caps yesterday, with handled knif potato, and she fell to the floor uncon- Vanadium Steel. Va Caro Chem. . | 15000 Allied Packer Gs , 2000 Am Tel 6s 24. 0000 Am ‘Tel Gs beet + [tl +tets Len & Kio Gr nt been partly melted and t thoroughly cooked. BANKING AND FINANCIAL. West Maryland . BANKING AND FINANCIAL. 17% + % |W Masyland At of. West Pac Gon... Vamows Players *Went Pac Com pt Fed Min & Om $ttt+ errr Wheeling & LE ot 10% + %| Wheeling & LB. 47% + 2% | White dtotor A Freeport Texas Gen Amphalt pf... y Graton W& W. oe 1% — i | Willye Overland WillswOrorkend of: 57 Years Conservative Banking General Electric. ner Gastans Tue fundamental policy upon which this Institution was founded, Conservative Banking, has enabled us to follow it successfully for over half a century. Aieneral Motor of tien Motor @ 9 6. Granby Mining, Grav & Davin. Great Norther of. Chamberlain, WASHINGTON, June 21,—Congres- | investigation of the {rom the Marine Corps of Capt, Edmund G. Chamberlain of San Antonio, Tex., | for his alleged false claims in 1918 of having shot down a number of German talrplanes on was recommended to-day by the Sen- ate Naval Committee —_——>—_—_ LATONIA ENTRIES. ‘The Latonia entries for to-morrow's races are as follows: FIRST RACK—Purve $1,300 year-olds and lipward: six ns, 104; Grace King, In strength of resources, in volume of business, in widening of business friendships, our progress has been consistent and constant. ~ While mindful of the best traditions of the past, our present management and Trustees are in complete ac- cord with the needs of the present. Finwévell & Bart the western Mine Central . : : : . : tigen We invite you, it you feel the need of an institution of this character, to use the complete faci banking and trust service. ies of our for maiden three Mer Marine pf {Dixie Girl, 10; Bl ‘Alm: eligible--Harold K., 108: ‘Mad Her Way Mise Proserity, 104; Zainor, 104; Gorham, 115; Service Flag. 115. SECOND RACE—Purve $1,300; claiming; for two- Corporations AAAs as Transfer Agent | 100; Mandel, 111 Kannas City So, Kamas City So pf. Kelly Springfield ,. three-year-olds and upward 109; Harlock, 109; Make Up, 109; War ‘Asso atigible-—‘Travesty 104 NACE—Purve $1.00; allowances; for Lackawanna Steel, . five and a half furiongs Deen Jake Brie West Lee Kutber & Tire three-year-olda: Hiekab. 115) Luck PLAZA OFFICE th Ave. de Goth St, Capital, Surplus and Undivided Profits over 30 Million Dollars , Lauria & Nashville, Member Pevenat. Reserve Sysvu Marlin-Rockwall May Dest, Stores. . ‘o vomivt, 110; King Fiber, tition allowance claimed, Y TALK Declares It Recall of Ambassador. CLEVELAND, June 21—"An sador Harvey's May 19 speech broke ne deel i you r » concern ‘8 recall CALLS MAN INSANE WHO LEFT $200,000 Wile, Who Cu Off Tries to Break Kramer Will. Joseph Kramer, Amboy merchant, who died recently and daughter Dr. Cotton testified to-day in Mid- dlesex Orphans’ Court in the by Mrs. Kramer daughter, to break the will. his wife off en- in his will and left his daughter $5 a month “to remind her of the time when she called me a black pig,” and $2. month “to remind her of the time when T was ill and she told me not to cough so much.” the estate was left to the Perth Am- with the excep- and legacies to “Private Ellis, A. Help to Locate Him Here. WASHINGTON, Private Joseph Gerard EI was mustered out he decided to New York first” June a bit before That was in April, far as his mother. Crockett, Texas, knows, he's “still look- ing ‘em over” in New York. She wrote Representative Briges Texas to-day, asking that the ment help locate Josepn, who ought to see even New York in two years, pie Deke French Army to Demobilize C1 of 1919. The Cabinet to-day authoriaed the War Ministe> to begin demobilization of 1919 on June 25. reached upon | the classes of 1920 and 192 Henry and | trained a deciston SAVINGS BANKS. G SAVINGS BANK 115 QHAMBERS ST.. N.Y. deciared a divid ‘the six months ending June 30, 1924, atthe rate of FOUR PER CENT. | deposits from 85 to res ieee re One | Deposits to $5,000 made on or |before July 13th will draw knife had| interest from July 1, 1921. J. ES Presid: DU BANKING AND FINANCIAL. As as Trustee Under Mortgages CENTRAL UNION TRUST @MPANY OF NEW YORK | 80 BROADWAY, NEW YORK 2ND STREET OFFICE Madison Ave. ds 4and St. Dr. Jenkins Rapidly Sink! who ja iil in Hahnemann Hospi his physician, Dé as sinking rapidly tal, was reported by BANKING AN INANCIAL. TOR & TRADER Harding.” wan ead Interna ‘Special Article: Cities Service Carib Syndicate Prod. & Refining Mr. Babson con- “This hope had a stvengthen- ing effect on the market Ambassador Harvey cut the ropes the effect was immediate. “The effect has already ie Business and And when Market Conditions been great INV. STOR & TRADER” — issued weekly —g news on New York Curb Market stocks. It contains: a review of general conditions and market trend articles, news and charts on spe cifle stocks —quotations and ree ord of high and low prices. Also explains how to open’an devosit requirements, Give us an opportunity to demonstrate the value of our brokerage service. 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