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LEFT PERPLEXED BY SEVEN POWER CONFERENCE Share Prices Flutter Sagging Little In Morning, Recovering, and Easing Off Close. New July 23 Street was left perplexed and certain by the conclusion of seven power London conference and the stock market lapsed into lethargy comparable to that of Monday Share prices fluttered uncertainly, sagging little in the morning. recovering moderately for time the and easing off again the late trading. The market closed with narrow and for the most part negligible changes The turnover was only about shares. Foreign Bonds Heavy. Foreign bonds were again heavy. but the German government issues recovered little after substantial drops in the early Foreign generally stiffened in sponse the higher bank of land but sterling failed to back above the gold point A few shares closed point two higher, including Johns Manville, Sears Montgomery Ward. and Safeways Stores. Small fractional losses shown by such issues American Telephone, American Can General Electric. and DuPont Wall Street was not unprepared for the increase in the bank of England rate. in fact was somewhat prised when the rate not increased week ago. Yesterday's advices from London had indicated that might not be increased until next week, but the sharp losses of was felt here. made an eventual upturn certain. This development was none the less somewhat depressing. represented the first important reversof the downward tendency rates which had been money since the stock market progress crash of late tendency which had been expected to play an important part in facilating turn prosperity, once other sential readjustments had been completed Furthermore, coming simultaneously with the ending the seven power conference. it interpreted in some quarters as disappointment with the results. Hint at Further Aid. the close of Statements issued hinting that basis the be found for further might soon were mildly reasaid to to Wall although suring generally leaned to the opinion that the conference left the situation fundamentally with measures toward changed, rectification yet to be manent be said, however, that en. It must leading bankof Wall many held little hope of any ers had spectacular} results from this confelt that mutual understanding had been promoted, about successful had been could European situation still The too meancing for Wall Street to full attention to Domestic turn its But the financial communnews, ity has been considerably encouraged the second quarter earnings far M statements thus Ward reported itself out of the red for the first time in months, of $407,706 for the showing profit second quarter. against loss of first quarter. Na783,674 in the tional Cash Register also showed net profit 72 cents per class share for the second against deficit in the first quart- The General Motors quarterly showing net of share. was closely in keeping with forecasts, but regarded highly favorable. showing an actual gain of cents share over the operating profits reported for the like period 1930 The Montgomery Ward report together with Sears Roebucks cently sales report for its largest four weeks period. have led the view that deferred buying making its appearance which should augur well for fairly autumn Credit conditions remained stationary. and bankers said that the Bank of England rate increase should not be interpreted as foreshadowing any change the Federal Reserve bank now at percent. (First published in the Manhattan Mercury July 1931) NOTICE The Statutes of Kansas provide that all claims depositors and other creditors must be filed with the Receiver within one year after the date of his appointment and so filed such claims shall barred from participation in the tate such bank. The Receiver of the Farmers State Bank of StockKansas was appointed on September 1930 CHARLES Receiver RHINE Assistant Receiver See all kinds wood work well topwork for your auto Champion Shoe Shop
