Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-04-02

and proves beyond question the fact
that there is still much surplus cash
awaiting investment.
Stock Market Inactive.
Another period of uncertainty and
iuaction has apparently set in in the
stock market, and the public interest
i'll these speculative channels has been
waning. This may be due to a large
extent to the renewed possibilities of
friction with Germany because of the
sinking of more merchant ships, but in
any case the professional traders have
had things very much to themselves In
the recent sessions. Hence 1t is all the
more difficult to correctly estimate the
technical position of the stock market.
or to diagnose the symptoms either for
a rise or fall. Market experts say that
the recent activity of the bear element
has resulted in very heavy short in
terest. and that in order to cover these
shorts" considerable buying will have
to be done The logical effect of this
buying Will be to send prices upward,
and. if this hypothesis should prove to
be correct. the bulls will rule the mar
ket in the immediate future. The po-
sition of the market, however. is one
that calls for conservatism, and stock
exchange leaders are SO advising their
clients.
Recent trade reports have been very
favorable. railroad traffic heavy, and
many of the February official returns
have been much better than expected.
Copper and zinc metals have been 60
ing steadily higher both in London
and in New York, and the more i'm
portant metal stocks have been &C.
cupying a much more prominent posi-.
tion in the speculative list.
Profits Of Zinc Company.
The annual report Of the American
Zinc Company, submitted to the stock
holders this week. disclosed net profits
of s5.2e3,s7s. as compared with scanty
profits and actual deficits in previous
years Bondholders have converted
their bonds into stocks and practically
all outstanding notes were paid off, SO
the company's financial position is
very strong and il has cash enough on
hand to wipe out its small floating
debts. Its net profits are equal to
s21.41 share on its outstanding CAPT
tai stocks. The directors intend to
put the company in strong financial
position instead of paying big divi-
dends that they may not be able to
sustain after the war is over. The
same conservative policy, adopted by
The directors of other mining proper
lies. has met with the unqualified ap-
proved more profitab BILE than the grab
all policy which SO often brings prema-
ture exhaustion to a property which
would be exceedingly productive
through cultivation.
Imports into the United States are
steadily increasing and were so per
cent larger for January of this year
than for January of 1915, according to
statistics or, foreign trade which have
just been published by the Department
Of Commerce.
That a notable change in the nature
Of the foreign commerce of the coun-
try is shown by the figures, which
record marked increases in the i'm
portatiou of raw materials and de-
crease in the imports Of manufactured
articles. A similar study of the ex
port statistics shows that, temporarily
at least. this country has ceased to be
chiefly an exporter of raw materials
and has heavily increased its sale
abroad of finished goods.
Wars Effects on Imports.
The figures for the last seven months