3/19/2023 0 Comments Diamond rush born distrust![]() Ments heretofore charged to capital expenditure. Ments of the Steel Corporation, to issue additional depressing world price levels second, the artificialĬommon stock as a stock dividend to the common advantage in exports that is given temporarily durshareholders against a part of the new improve- ing a period of currency inflation. Toward all interests, and safe to the cash require- using low prices as the fighting weapon and thereby Might come when it would be legal, just and proper and have been fighting desperately for business, the lack of European purchasing power, so that theĪt the April meeting Judge Gary said that the time mills of Europe have not had their normal markets The directors of the Steel Corporation do not meetįor dividend action until the latter part of July. There have been two active agents in this: First, Guesses of business depression throughout the world to an exthat kind cannot be given much if any importance. Tion continuing year after year in France, Italy,Īs usual, activity of this kind has been accom- Belgium and other countries, has been a cause of This situathe close of business on Friday. Business has been prostratedĪnd the strength in this stock continued right up to because of lack of that liquid capital. Liquid capital in Europe has tended to fleeĪdvance of approximately 4 points. Tion of United States Steel common, which on Tues- because of unbalanced budgets'and unstable currenday had a turnover of 171,800 shares with an abrupt cies. Phase of the market was best illustrated by the ac- continuing cause, to the uncertainties in business This probably also, to a greater extent than to any other Unreasonably high levels in the late winter. The more speculative stocks that were bid up to war, to the destruction of working capital, and Offsetting the declines which continue in the case of due to the impoverishment brought about by the Ticipated with the railroad shares in rising,prices, the purchasing power of Europe has been subnormal, Notwithstanding this, the better class of industrial stocks has par- the European situation. Probably not the least of these uncertainties is Neously the average price of railroad stocks has attention on the uncertainties referred to by JudgeĪdvanced, whereas the industrial average has done Gary. In the volume of offerings, and several large and im- uncertainties which are likely to pass, if not immeportant issues have not only been taken up imme- diately, at least at a time near enough to be worthĭiately, but have advanced to premiums. ![]() Bond prices have sition of this stock, and does indicate that inĬrept steadily upward, notwithstanding an increase the minds of the steel directors there are existing Nevertheless, Judge Gary's statement hasĠ00 maturing Government obligations on June 15 been an important declaration in respect to the powithout additional financing. Tuesday that the Treasury would pay off V33,000,- in July. Throughout the week helped by announcement on assumption that a stock dividend will be declared Certainly in view ofįavorable investment conditions have continued these statements, it would be foolish to make any The directors of the Steel Board will consider it safe It would be a waste of time to try and guess whether ditions existing in April, it was not considered safe. Tribution when it is safe to do so, and that under conPublished every Saturday morning by W I LI.IA M U. DANA COMPANY, Publishers,įront, Pine and Depeyster Streets, New York Surplus and thereby increase the rate of cash disWILLIAM B. Board may capitalize a portion of the accumulated Western Representative.Ģ08 South La 8400 Street. In this Judge Gary has indicated that the SteelĬHICAU0 Orrice-1n charge of Fred. Petition and fairness to customers require the bestĪnd latest improvements in facilities and methods." Sulwription includes following Supplements. Remittances for European subscriptions and advertisements must be made NOTICE.-On account of the fluctuations In the rates of exchange, consideration. It should not be done without painstaking sibly in times of depression interrupt their conWithin Continental United States except AlaskaĦ.75 tinuity. It would add to the amount of cash dividends on theĬommon stock, if and when declared, and might posTerms of Subscription-Payable in Advanceġ2 Mos. He said, however: "Of course, if this were done The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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