| Show NEW YORK By JA JAMES IES lULLIN ll Members of the American acceptance acceptance acceptance accept accept- ance council are busy as bees promoting promoting promoting pro pro- the campaign for the use of rade acceptances Committees formed to help the cause along are active and several hundred business organizations organizations have already pledged themselves themselves themselves them them- selves to use this form of credit for their ordinary transactions The Tho response response re re- spouse is better than had b been n antici antici- There was a pretty little wrangle during the preliminaries Mr Lamont Lamont Lamont La- La mont du Pont a keen advocate of the plan stated that the banks should be urged to rediscount their acceptances at tho the federal reserve Several bankers bankers bank bank- ers inquired heatedly as to who was Mr du Pont to tell them what to do with their money The row was unimportant un un- important but it added to the gaiety of nations nations especially especially as the advice is being used tt Exchange authorities arc are on the trail rail of a group croup of bears who have been spreading derogatory rumors about certain stocks stock The way they work vork is to pass the word along among brokerage houses that large blocks of a given stock are overhang lag ing ng the market This is supposed to discourage potential buyers buyer and help the he short interest to make profits Two companies which have been vIctimized by these rumors are arc hot under the collar about it If they can find out where the rumors started there will be prosecutions under under under un un- der an nn ancient New York state law Wall Krall street saw its first million share hare day in many moons moons' on July 14 4 The cheers from brokerage houses were vere worthy of a more important cause Several good sized trading groups for or the bull sido side have been formed but ut are arc sitting on the sidelines waiting wait wait- ing ng for the signaL Capital has been raised alsed and md managers named All that thatis is s n needed ded now is a definite clue that stock tock prices are really on the way up Even the optimists are arc still wary A A. W. W Porter Co original sponsors spon spon- sors ors of at the bundle plan have thrown it overboard They found it caused too much friction with exchange ex- ex change chance connections Informed Wall street opinion Is confident that the A A. A T. T T T. dividend will vill be reduced from 9 to 6 6 or 7 a 9 Remington Rand is quietly taking steps to get rid of most of ot its depart ments meats The Idea is to concentrate on n a few salable items instead of try try- ing ng to handle every office appliance under the sun sum Several divisions of ho tho business have been offered for sale ale and md in some cases interest has haa been een shown by prospective pur- pur chasers 9 e Thirty-five Thirty thousand of ot Westinghouse Electric have Tolled rolled up nearly worth of business business busi bus ness for their company in tho the past two wo months The plan has worked so successfully with that the company Is now nosy trying tring it out with stockholders Some of at them have bave shown bown a lot of at Interest Other manufacturing concerns have watched W Westinghouse's progress progress progress ress with close attention Some big ones will probably try it Jt on own in n the near future |
