The Washington herald., 1918-03-08
From the Financial Ticker

/ government liberty bond issue. dis
patches to W. B. Hibbs stated yes
terday.
An irregular traders market Of .
| backing-and-filling character within
moderate range Of fluctuations from
the present for the general list II
the best there IL in prospect until
these matters have been sausfac-
torily adjusted.
During periods of fresh weakness
I produced either from scattered iqui-
dation or any undue bear pressure
! Il Is believed any OF the better class
of the Industrial stocks or railroad
shares can be bought, but such pur-
| chases should only be made with the
view Of realizing moderate prohts by
selling out promptly on the rallies
in view OF the uncertainty OF the
money situation and the continued
restraining influence Of the war In
repressing any bull movements Of i'm
portance in the general market.
New York stock market analyses
received yesterday by W. B. Hibbs
G. Co. read:
z, F. Hutton & Co Money is
tight and aggressive buying is check
ed; but liquidation Ii so slight that
when short commitments are made
It 10 hard to get the stocks back
at q profit.
z W. wagner-The technical posi-
ton OF the general market appears
TO be very strong and IL We do not
receive any unexpected UntaVoraole
news the market should improve.
| Clark-Childs-lt Is quite circumstan-
TALLY reported that Federal aid is
to be accorded the Brooklyn Rapid
Transit Company in its necessary
financial operations. through the IN
termediary OF the pending war hnance
corporation legislation.
Josephthal & Cove feel that the
market in It's present state will be
easily susceptible to constructive IN
fuences and that any recessions may
be used for purchases.
: Steel production this year cannot
average anything like full capacity
in the opinion of expert trade OBJ
servers. In fact, 1t is hardly believed
that the average will exceed 20 per
cent OF capacity.
One of the principal reasons for this
is a shortage of pig iron. Steel COM
panies also are experiencing difficulty
in obtaining supplies of raw material
not Of iron alone. but OF coke ana
other needed supplies. Transporta-
ton Is the basic cause Of the trouble.
And curtailnent OF % per cent IN
OUTPUT over the year would naturally
mean a higher average OF costs per
ton. At the same time the expenses
incident to steel production are con-
stantIv advancing. due 10 high wages,
shortage and ineffiCiency OF labor and
other causes.
Many Of the smaller producers OF
- steel are unable TO operate under
these conditions at a proft and the
r.argin Of profit 10 larger concerns
. is declining arpreciably. II is urged
that II tn, government expects the
sLeel companies to continue as the
largest producers Of revenue for car
r,ing on the war. increased prices
will have 10 be granted.
F w. woolworth Company Febru-
ary sales increase 649 SO, or ll-5l per
cent. Two months increase, 81, e,l72
or SIS per cent
Increase in February IL considered
a remarkable showing in view o'
the fact that in that month there
were two holidays and that IS pei
. cent OF the company's 100 stores
. were affected by three heatless Mon
days in February. while all New Ems
land stores were affected by foul
heatless Mondays. OF the gain II
. February, the old stores were re
sponsible for S2T.l6}. while in th'
two-months period the other store'
reported SI2l, ,3;S5 of total increase.
Notice has been sent to stockholdert
OF the General Motors Corporation
announcing that a special meetini
e will be held March 20. just pEeced
e ing the regular annual meeting. a
which the proposal will be acted
. upon which provides for the recent!
D.. announced increase in the authorize,
capitalization Of the corporation 1,
S2C0,OOO.CO0, composed OF 100000 pre-
ferred stock and Sl5O.OoO,oOO common
stock.
- The Railway steel Spring COMPANY
e year ended December 81, 1917. Ne
/ earnings for the year were &.SJ7. .SG
after all expenses and charges, in
: cluding S.jIO.GlO reserved for incom'
and excess profits taxes as compared
> with S2,7lO.SOS net for 1916. After pre-
Z ferred dividends there was a halanc'
v of 1885,. $50 available for 1880 90
9 common stock. which was equal t
: S249l a share, against Sl37 a shsr,
? earned on common in 1916.
e At the annual meeting OF the Bald
= win Locomotive Company yesterda!
l President johnson made the state
, ment that 1t was considered inad
. visable to declare a dividend on
J OF the earnings OF 1917 and that such
declaration was a matter for tn,
:; future.
r American Steel Foundries YESTERDAY
. declared a regular quarterly dividend
OF ] 81 per cent. payable March ,
!; to stockholders OF record March l6.
!; LIVE STOCK MARKETS