The Washington herald., 1918-02-03
From the Financial Ticker

Announcement has been made that
Maxwell Motor Company is ac..vcly in
the tractor field. The Maxwell tractor
Dealers and distributors were notified
to begin booking orders for the tractor
at once. Production on Maxwell traC-
tor will be started Immediately and
output will be as large as war ac-
tivities of the company allow.
Those who have watched the trad
ing say there Is still evidence of ab-
sorption going on in Reading. Marine
pfd.. A. r. and Mop as well as IN
Baldwin. Those stocks and the rail-
road equipment shares and the cop
pers with L. $. Steel continue to be
most in favor with the majority of
the n-ost active New York operators.
But there is a disposition to protect
further purchases around the pres
ent range of prices with stop orders
about two to three points under the
market. against the development of
any sudden bad news.
Further accumulation OF peace in
dicatiOns by way of Teutonic internal
troubles is likely to expand new buy
ing which made its appearance upon
sensational rumors and Washington
opinions in this connection. New York
dispatches say. Professionals have
been badly twisted, having gone
short rather extensively on the theory
that heavy realizing would follow the
publication OF good news. Evidence
of good buying is reported in Union
Pacific, Southern Pacihc. Southern
Railway preferred, Cincinnati and
Ohio. Missouri Pacific, New York
Central and Reading. The floating
supply of Car Foundry. Steel Springs.
Pressed Steel Car. American Loco
motive and Baldwin. Railway Equip
ment issues, is materially reduced.
In the Steel group United States
Steel. Crucible. Lackawanna Steel,
Republic and Bethlehem B. stocks
are in good demand. Traders are ac-
tive on the long side of Westinghouse
+ Il e c tr C, Harvester Corporation.
American International, American
Cotton Oil. Central Leather. A. C. W.
T.. American Wool. Goodrich and
Studebaker short interests of long
standing are understood to be rctir-
ing from NJ. NJ. O.. Canadian Pacific
and General Electric.
Peace information of a more definite
character so far as internal Teutonic
disturbances are concerned has
caused the withdrawal of offerings OF
stocks for long and short accounts in
many leading issues. with result
that replacement of speculative and
investment holdings elevated prices
and may continue to do so, according
to gossip in active market circles.
A short interest in United States
Steel common, built up upon the
theory that the good news was out
was past, has encountered aggressive
buying for account of important
operators who for some time claimed
possession Of Washington informa-
tion positively indicating the near
appearance OF peace through Teutonic
collapse.
1t is reported in some quarters of
the Street that the charge-offs of
United States Steel directors in the
last two quarterly earnings reports
have been liberal to excess and that
when a final calculation takes place
something like S40,bOO,OcO or $J0.OO0.0 900
of concealed equities" may appear.
The freight and fuel crises are de-
clared in well-informed circles to
have passed. Ships having been pro-
vided for, 1t is declared that the
freight congestion is being rapidly
cleared up through embargoes. and
confidential Indications suggest strong
ly that coal in New York will be suf-
ficient from now on.
The Interboro interests are reported
to be planning to go into the ship
building business In order to use
facilities that may become available
with the completion of new subway
construction. United States Smelling
is being bought in some quarters of
the Street on reports of very valuable
coal finds