The Washington times., 1917-03-19
REVIVAL OF INTEREST IN Sc.
cURITIES NOTED.
Stocks Advance Several Points
on Brisk Trading-Domestic
and Overseas Developments
Clear MISUNDERSTANDING
of Rail Strike Likely to Bring
Higher Freight Rates.

NEW YORK, March ia revival OF
public interest in the securities market
was manifested today when stocks adj
vanced several points in trading that
was brisk in comparison with recent
apathetic sessions.
Wall Street professed to see in this
forward movement the beginning of a
real bull market twill not be surprising
IL this should prove to be the case. II
has been said all along that financial
and securities circles were waiting only
for the removal of uncertainties which
have prevented initiative in any direc-
ton since the turn Of the current year.
For one thing, the menace OF a rail-
road strike has been eliminated almost
simultaneously with the decision Of a
divided Supreme Court holding the
Adamson eight-hour law to be. constitu-
tional This victory for the Government
and the railroad brotherhoods entails an
added expense to the railroads Of some
thing like $5O000.00O a year.
The logical sequel to this event Is the
granting OF increased freight rates.
There was further clearing Of the
atmosphere in the sinking of three
American vessels by German submar-
ines. War with Germany has been
discounted and war is here in all but
the Formally. The Presidents answer
must be a mobilization of the naval
forces, as 1t already has been reten-
ton of the State militia units under
Federal control. This country Is now
committed to open hostilities. in the
thoughts and convictions of every
body.
The revolution in Russia, supple
mented by the striking developments
in the German retreat on the western
front, would seem to have removed
menace that has been overshadowing
the entente for a year or more of a
separate peace of the Gar with the
Teutons. The notice of the new
regime to the world that IL will press
the war vigorously, and the admirable
restraint imposed on themselves by
the new powers at Petrograd, are
splendid auguries. 1t likewise tends
to remove all worry on this side OF
the Atlantic with respect to the fl
nancial integrity OF the allies. These
elements cannot but be a great
source OF strength to Great Britain
and her companions in arms.
The London markets were firm and
sentiment was cheerful, in view of the
military successes on the western
front and in Mesopotamia, and the
ever-encouraging aspect of affairs in
Russia Rubles were easier in the for
eign exchange market on this side.
Sales on Rome were firmer on the per-
sistent report that Italy was seeking
a loan in this country to correct her
exchanges. The offering of the $780,
ooo. 600 French loan, the terms of
which were announced at the close of
the week, will be made within the
next day or two.
The announcement Of the Federal
Farm Loan Board of an interest rate
of ~ per cent on its bonds and per
cent on mortgages was of some in
terest, as were the figures from Wash
ington placing the favorable trade
balance Of the United States from the
outbreak of war to March / last at
$5.767,O00,0o0. On the same date the
net public debt of the country was
S1,173, 773.05o.