Show j r p I TICKER NEWS 11 T o o B By the Harold R. R Smoot Co Wire New York Feb 4 odas big big bre break k kIn in the stock market rom rom the previous Is simply a recognition steady of or tho general financial and economic eco ceo situation The Thu contraction of or commodity and business inflation which is in progress throughout hout the countr country developed some ome r real al liquida tion In lit previous dispatches we wc commented com Coin lon on the way in which the thc public stocks Yesterday was holding on to Sonic some real selling to came caine in but It wn was absorbed In short hort covering This morning mornIng morn morn- i in ing them were more morn stocks 0 for sale palo than shorts were desirous of co covering I The result was a general downward sweep cep More lore short selling promptly I but buL thoro was plenty plent of oC real realI I stock istock Gt cl for sale Floor traders covered cred I generally yet et there was a general downward trend we Ve are ro not ns as bear bear- 1 o bar I the Ish ns as S two weeks ago aero o. o but belu follower Is going to average market n the pa pay more attention from now on to serious nature of or the general world I I economic situation he Ian I from fron Early Frh says private a advices I Washington are art to the tho effect that thai mone money within the next few days das tn's I is definitely in sight sight Clark Clark Clark Childs January sales of ot American Tobacco Increased anuar over o er santo same month mont h o of 1919 19 R. R G. G Dun Co report 69 commercial commer commercial cial failures In United Stat States during durin g January with of or against and 1 a year car ago British financiers received assurances assurance s from Holland Holand Switzerland nd and Scan Scandinavia Scandinavia i. i navia nala of their willingness to cooperate cooperate oper co-oper ate with private bankers banker and Great Grent Britain to extend necessary credits t to tc o central Europe according to 0 a London copyright t dispatch to the Sun The average n erae price of or 20 industrials industrial O s off or 20 0 ral rails oft off I hear on good authority that hEa heavy amounts of dry goods hold held for export t are being being disposed of or in the ea eastern tern market This condition surely urel must h be e significant of or what is happening i iother in n other commodities an and is th the beginning begin bein ning of or the cure curo for our high prices Scandinavian countries have hae large larg e stocks of or foodstuffs on hand unsold A representative e of r ono one of or our l largest larges t packing concerns ha has Just returned d i from l England n land and tells us its I they he are ar e shipping very er little stuff to tho the other othe r side Ido for the rca reason on that th they v ar arc rc c stocked up over there ther Furth Furthermore exchange rates will not permit of ot much business being eln with Ith this country countr as nR the they can car Get get gram grain mom from itus- itus sin sla Argentine and md other countries In exchange for othor other kinds of or goods It I be begins beIns to look like peace in lu Russia sla which will wil relea release e large stocKs orr or grain r ln Europe will wi take this grain In preference to coming hero Shipping people Aa say there thero Is plenty plent of ot car space on all al outbound vessels for European Europen ports Prospects are for Cor better beter distribUtion distribution distri distrI- buton of oC cars which means more grain will wil move and action acton of stocks hereWith here With th a good stock of corn here here I 1 think restrictions will wIl be bo removed A break In general prices and anc a slowing down of business would within a n reasonable time make itself felt in the isel fel mane money market Demoralization in sterling and francs is caused part partly b by people carrying balances In England and Franco transferring pounds sterling and francs into dollars oars Washington Arre Washington Agreement Agreement ment to reduce the price of oC clothing was reported arter aften after aft art er en a conference between department of ot Justice officials and r representatives of oC the wool interests and cloth clothing Ins manu manu- Tho The Studebaker corporation declared the usual quarterly dividend of or 1 13 12 per pcr percent percent cent on common and preferred stocks pa payable able March larch 1 to stock of oC record fc February 20 Chicago Directors Chicago DIrectors of the Hartman company toda today declared a quarterly dividend of oC iS per share payable l March 1 to stock of or record February I 18 1 This places the stock of or a 7 per cent per annum basis compared with 5 wih per cent previously Sales Salos in January Increased 53 per cent over the same samo month of ot 1919 Montreal New MontreaL New e York exchange 13 per pcr cen cent t. t Equitable Equitable- Trust com company pan has re TC me- for distribution to holders I of or I I Royal noal Dutch company compan New York and American shares a dividend amounting to 90 on each New e York and AmeriCan Ameri Amen can share The Thc dividend dl will be distributed dis dig to holders of record February 16 on February 27 provided necessary income tax ownership certificates have been filed with fied Equitable Trust corn com pan pany on or before said date o of com I pay pay- i mont ment Holders of or subscription war var- i rants exchangeable for Nc New York i i shares should hould Immediately make this I exchange as dividend will wi not be paid on the warrants but only shares I represented represented th thereby Dow reb-Dow Dow Jones Co Co I I |