Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-12-31
TRADE FOR YEAR
IN CURB MARKET
War Order Group Almost
Entirely Disappears
From the List
VALUES ARE WIPED OUT

The last years trading on the Broad
Street curb was of far less interest
than any OF those preceding years since
the beginning of the conflict which de-
veloped into the world war and then
came to such a sudden end. The long
list of shares which had made up the
group called the war stocks dwindled
during the year to less than half a
dozen issues, and as the year closed only
four stocks of all that long list were
active enough to demand comment in
the ordinary reports OF the daily curb
trading. Most of the war stocks had
passed into oblivion before the beginning
OF the year, and the others which were
named Travelled along the same road,
nearly all of them gradually dropping
out of the market after their values
had been entirely wiped out
The activities of this nation in tho
industrial field were a help to few
or these corporations during the last
year in keeping them before the public
syei put 1t cannot yet be said that these
profitable results. Aetna Explosives
which had a long record of trouble and
alsaster including proceedings in court
ana and contests among security holders
- %
put after passing through receivership
With a consequent strengthening Of itt
i,nancial position, 1t made a good rally
Aer6Ts, une ia iast month OF the year, ,CurtIss
IN the past year 1t ranged from AZ ir
June to 10 in November, dropping dowr
the 'har srrIst,op IGW point after the signing o.
found itself with its occupation gone
Wright Martin, one of the quartet O
war stocks in which there is stii
} active trading, made a high record fol-
the the year Of In in May. but, like Cur
tiss. was heavy after the arniistice. ant
: dropped down to 4 In December. sub
| marine Boat, after selling at 2OH
yiSelded S to IL also making its low recort
"hetl hostillties ceased.
A., What the future has in store TO
tthese corporations is matter of con
lecture. Already It has been decide,
70 To- turn Aetna Explosives from a mum
@ Trer 'opfnX spbmXarI0o To sost chemical fs manufac
continue in the shipbulldng bushes
~ lts plants, which are now employe,
LOT mat purpose, and Wright-Martir
TO E't1m nanuea ueenoted nearly all its facllitie
statements made by some of those cor
+ SSSrned IN its affairs will devote mos
oa its attention to the manufacture O
Other xar ana automohiles A few of tn
LOT continuation of industrial Worl
Dut most of these companies and IN
pruppett res used Dy them in filling Gov
} consigned to the junk heap. zoo
ueal mas been said about their scra
; value, but these statements have Saiie
; u arouse any market interest.
,nt me OIL stocks at times were force
, neiopment work In various oil-producin
nelus or on account of prospects r
1Gfernnlent regulation of price fixinI
e resenhIa ,iaue their market movement
+ dullum Some new properties apnea re-
on the curb, among them Royai Dutc
. new stock. which started at fifty-seve
ann advanced to eighty-six. The rlght
Q sixteen to twenty-five. Midwest Rea,
Z ing mad range from 11Oa in Februar
70 lao IN November. reaching lis hle
= priEe n1; prior TO the announcement of Il
Q scribers at par. Oklahoma Producir
v was specially Influenced by the transf.
: OF laTge blocks of holdings from II
d organization interests to financi
a nently identified with the steel trad
a AFTER the transfer of these holdings n
stock advanced from 6A to above /
pan-American Petroleum ranged fro
u ~ IN January to 10 in October makir
u its high price just before being tran
ferred to the Stock Exchange
One Of the additions to the active !,
: was United States Steamship, wn,cn n
tSt SSiiAI6 AZ III may sold down
4 41a in October but later reflected n
! absorption of its stock in connection wi
: Its shipbuilding affairs and show,
= strength later In the year. 1t had IN,
Z become prominent because of the lar
! shipbuilding contracts 1t had assume
There was n long list of industria
. which had been active in the preCedi,
Z year, and which, while not dropping o
= of sight, had suffered material losses
Z quotations. Generally the year was O.
Z with unfavorable results to stocks whI
had been traded in on a large sea
\ while the war market existed. Mini
4 stocks. which started the year at fair
z high levels, were steadily reduced
Il their market quotations., an instance Z
20 ing Tonopah Belmont, when uropp
Y from 5-16 In January to Ia in {
Y cember, indicating the general range
4 this group The lower levels were d
y to Government restrictions ON ever
e thing except essentials in war industri
z In the final month of the year the
Z stocks showed better tone, with repoi
Z coming to het East of pronounced 4
y tivity in the mining field following {
p end of the war.
& To many the most interesting featr
Il of the years trading on the Broad Str,
a curb was the creation of an active a
u vigorous market for short-term not
a. including the many industrial issl
= carrying high rate OF interest viii
a. were placed during the year. Many
u these notes, which were oversubscrt
~ as soon as offered, advanced to 81
.h stantial premiums, with the highest r.
Ords in numerous issues made lust