Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-04-29
Specialties Are Features.


tions of the session were in Mercan-
tile Marine. The preferred stock
opened at s51s and closed at 81. the
high of the short session.
Maxwell Motors was another inn
portant speciality. and its action aided
in steadying the list at a time when ii
was wabbly. The stock was high at
1SA. SO points advance on reported
good earnings.
Maxwell second preferred also scored
3-point gain.
Industrial Alcohol made a 3-point
gain and lost IL of it.
American Locomotive was 81 higher
while Crucible Steel and American Lo-
connective both made fractional gains.
These were the stocks that steadiet
the list and gave the week end a good
showing. although other industrials, in.
GLIDING Smelling, Allis-Chalmers anc
the coppers, were firm.
Steel Common a Factor.
The action in Steel common was in.
clined to depress sentiment. The re.
ports Of the corporation are as glowing
and full of promise as the most en-.
thusiastic bull would care to imagine
as probability. and yet the common
stock is under pressure. probably due
H., a
though there should come a time wher
the market should be free from this
handicap.
At that, Steel closed a small fraction
better than on Friday. at s3N.
In the rails. the activity and strength
Of yesterday were entirely missing
Good reports continue, increases are
reported. and Canadian Pacific blazed
the way with point rise, but the other
rails barely held their own or were
slightly easier.
March Earnings Help Rails.
In the main stocks this week re-
covered a considerable part of their
decline Of the preceding period. the
more cheerful view of German and
Mexican conditions and a broad inquiry
for leading rails being potent factors
in the process of recuperation.
Rails derived much of their strength
from various statements of March
earnings, some of which were nothing
less than extraordinary for their re-
markable gains over the same month
of last year.
There seemed, also. to be a well de-
fined belief that seasoned stocks of
this class were selling far under cur
rent money values.
Norfolk and Western Dividends.
The increased dividends in Norfolk
and Western were not without their
significance.
War shares and other issues directly
der restraint at times, as a result of
closer scrutiny for their loan values,
but with various other stocks rose five
to ten points over recent levels.
United States Steel recovered less
proportionately than any other leader.
regardless of the record earnings dis
closed by the quarterly statement.
Failure of the directors to declare an
extra dividend caused disappointment
in speculative quarters. but elsewhere
it was accepted as making for greater
stability.
Mercantile Marines Leaders.
Mercantile Marines were the most ac-
tive and conspicuous issues. the pre-
ferred repeating it's record price and
the common approaching its maximum
on an enormous oyerturn. Wall street
regards it as an accomplished fact that
Mercantile Marine now is in control
Of new and powerful interests and that
the company's substantial earnings of
the past year will be shared by the
various security holders.
The shifting phases of the labor sit
uation in their relation to the coal
roads. munitions industry and textile
trade come in for much discussion
which was more or less futile in the
absence of definite Developments. There
remains an abundance of money at all
reserve centers. but rates evince a
tendency.