Durant's Spectacular Stock Exchange Operations: More Wonders of the Universe: Bobbed-Hair Girls Not Allowed to Marry i From Our Own San Francisco, Aug. 4.
We sometimes hear of men reaping. what are considered to be huge) profits on the stock exchanges of] Calcutta, Shanghai, Hongkong and) other places in Asia, but these pale into insignificance when compared with what is occasionally. made Wall Street. T question whether such enormous profits have ever bee made by one man in a single da on even the London Stock Exchange fas were made a few days ago by Mr, William €. Durant, a noted financier who seems to confine his) operations to a limited number of stocks and always to come out to the good. He is a spectacular operator. Throughout this year, particularly, he has not recorded any heavy loss, and on the other liliand has scored many conspicuous} successes, On July 80 Durant is credited with having made a paper profit of one and a half million dollars when the General Motors stock soared to $191) per share, During 1926, thus fa the Is said to have made $20,000,001 out of this one share, in addition to) many other small fortunes in a few) other stocks. It is interesting to note that Mr, Durant made his first) fortune after founding General) Motors. In 1910 he was removed from the presidency of the company. His second fortune, also made out! of this stock, was reported to be no} Jess than $10,000,000, which his shrewd trading enabled him to accumulate before the depression of] 1920, but in that year he met disaster, Many Wall Street men now fay that his third fortune is as large as his second. Ang it is a good stocks that he was gambling in, General price of $1642 per share—its average lately—yields ten per }16 per share). The low price of this shave during 1926 was 1114, in March. The automobile industry, a great key industry of this country that. is giving an amazing account of itself, In the first six! months of this year it produced more! cars than in any similar period in' the past\—and it sold them, which is more to the point. At the present time there is no accumulation of ears! in any part of the country to speak! of. These facts speak well for shares in. motor car companies, and it fa also a remarkable commentary the high purchasing power of the American people.
Trend in Rubber and Tyres The low price of rubber is reflect. ed in the present lowered price of tyres, During the last two months there have been reductions from 5 to 25 per cent, and I understand that at least two companies are con. sidering still further reductions, Tt said that the reason for ig that the companies in question were successful in loading themselves with heavy stocks of crude rubber at a price only one half of what they paid when rubber was at the "blee ing period." Tyre reductions bring prices back to about where they were prior to the three advances that were made during the summer and autumn of 1925.
In a nutshell here is the the rubber market at this writing Crude rubber—price unchanged. Imports—up.
Consumption—Jown.
Supplies—ample.
Tyre prices—down; demand—good; supplies—gocd.
Text read from the printed page and cleaned; old type leaves the occasional error.