Umson, 2879 V MrfRi Ave. R5ep
Influenced by the discontinuance
of the extra dividend disbursement on
United States Steel common stock,
realizing- took place in the stock,
market after the announcement by the
directors. As a whole, the market
has absorbed this selling with evi
denre of underlying strength, and In
a number of instances advances in
special groups took place on account
of specifically favorable conditions in
the industries concerned. This devel
opment suggests that future activities
are likely to be largely of the group
order, i. e., when special attractions
lio in certain lines of business, their
Sfrliritifct will T-of 1 i-.ct if. n hoi V-ir- rr-
not th PAnprnl ut nrr msir-lnt mnvps
in accordance. We therefore continue
to believe that conservative and selec
tive purchases ,of sound stocks in the
industrial list will give satisfactory
results if made during reasonable re
cessions; while the railroad depart
ment would seem to offer good buying
opportunities on declines.
