Evening star., 1917-03-19
WALL STREET MARKET
ACTIVE AND HIGHER
Munitions Shares Set the Pace, Steel
/. Common and the Rails Join
ing in the Advance.
Adamson Law Opinion a Favorable
Factor-Shipbing Shares Hesitate.
Coppers Show Strength.

| NEW YORK, March 19.-Settlement OF
! the railway strike situation and the
circumstances attending the sinking of
| three American ships in the war area
were among the conflicting conditions
which confronted the stock market al
today's opening.
! The attitude of the trading element
toward these developments was de-
noted by the uncertain course of prices
| rails for the most part showing sub
stantial gains with leading industrials
while shipping yielded l to 11a points,
| with more moderate recessions in some
equipments and specialties.
J Quotations became more irregular
later with a hardening of the war
group.
Broader Volume of Business.
Activity increased on much broader
volume of business during the fore
! noon. the market gathering fresh
strength on publication of the railway
wage agreement.
Rails were only moderately active,
but United States Steel made an ex-
treme advance of 2 points and other
industrials rose variably.
Bethlehem Steel new stock, Crucible
Steel and Central Leather were the
main features of the war and semi-war
divisions at gains of to points, and
equipments rose an average of 1 to 2
points with United States Rubber,
Western Union and Philadelphia Com
pany.
Shippings retrieved a greater part of
their early loss. The entire list de-
Rails Harden on Court News.
Rails hardened prior to the receipt
of word from Washington sustaining the
eight-hour law. and industrials as well
as numerous specialties extended morn
ing advances, specially Bethlehem and
United States SteelS.
Some of these gains were substantial
ly reduced later.
The advance was steady and con-
tinuous right through the noon hour
and the two first hours of the after
noon. The gains were 21e points on
the average in the industrials, and the
rails also came in for their share of
attention in the latter part of the
morning. improving point in the
minor shares to Y in Reading.
The market was also decidedly active
and the few shorts outstanding run to
cover with losses staring them in the
face.
Court Decision a Power.
The action of the Supreme Court in
upholding the constitutionality of the
Adamson law was a powerful factor,
while the munition shares all hardened
on their own accord. Shipping shares,
which were weak in the initial trading,
came back strongly, but without the
full recovery.
Steel common sold to 115. a gain of
H: Industrial Alcohol gained 3 points;
Central Leather, 3; Baldwin Locomo-
tive, Q; Bethlehem Steel 6, and '.B"
Bethlehem. s points.
Coppers were also stronger.
/. Midway in the last hour of the session
the rails were dominating with further
sharp advances throughout the list.
Rails Two Points Higher.
The interest and activity in the last
hour of the session was almost entirely
in the rails. the industrials presenting
a strong front, but the big late gains
were in the rails.
Baltimore and Ohio gained 2A, Erie
2S, Great Northern a point, Lehigh
Valley points, Reading nearly 8,
while Union Pacific lacked but q of a
APPOINT gain, Southern Railway "a to
29% and Southern Pacific and other
q