Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-12-15
LOCAL AND OTHERWISE

I bond markets are showing very sat
| isfactory activity and strong prices.
The times are little out OF joint
and the wise investor carefully scans
| the situation.
During the last week only e11.ooe
bonds, par value, and ITS shares OF
| stock. changed hands on the local
stock exchange.
The outstanding feature has besn
the strength. in Norfolk & Washing
\ ton Steamboat shares. stock OF .
close corporation, that, by the way.
has recently called for payment tte
bonded Indebtedness, and hopes here
after to pay tho shareholders the re.
sultant saving.
Money Rates Firm.
| There is small chance Of money
being easier than at the present time.
The government is a borrower of
large amounts through tl.o bi-weekly
| treasury certificates. and other de-
mands keep the supply comfortable
plus.
| One Big Bond Sale.
! As an evidence Of the demand for
| high-grade bonds, subscribers to the
recent Offering $10.500.00O Chicago
| and Northwestern per cent bonds,
| the allotments were IA per cent OF
| Inc SuOSCIipIlO4Sp NAulC6tlAS -lttAS
bonds to the amount Of 100000, 900
! had been booked.
Steel Tonnage Reports.
| From this time on the monthly re-
ports Of untitled orders on the books
| of the United States Steel Corpora
| ton will be watched with the great
| est interest. 1t will be the barometer
| of the steel and iron industry. Of
1 the rnnnfPv and will Indicate inst
how business is progressing or halt
| ing In the reconstruction period.
There has been considerable talk
| regarding the rebuilding of the de-
| ment being made that but little steel
| would be used, the inference being
| that the old methods Of building
would be resumed.
1t is but reasonable that some Of
the larger structures should be Of
steel, and that fair reconstruction
business will come to American mills.
| Progress of construction in this
country is likely to be delayed for
| time by the prevailing high prices OF
men and materials, while the unset
tied condition of tho railroads under
| year additional control by the gov
eminent may retard tho construction
work and equipment additions to the
railroads. unless the flve-year period
| is quickly settled one way OF tHe
other. Thus Congress will probably
not pass upon it, even though 1t should
SO desire. It has but a little over two
months of life and some large prob
\ lens await solution.
Feature Of Stock Market.
"Tota1 sales of stocks for the short
| session aturday were about 100000
shares.
1.-THE principal feature Of the mar
ket was some scattered liquidation IN
1.-THE low-priced railroad stocks by trad
ers who had purchased those issues
| freely in the bullish activity in the
week.
This caused the moderate decline
| in that part of the market. After
close of the market the bank state
ment showed a decrease of $3o.747.O0O
| in surplus, bringing the total down
| to less than S40,0O0.000.
lowing to the continued uncertain
| ty regarding prices of the leading sta
pies products, with the open market
! conditions which will prevail when
( the government fixed prices expire
with the dissolution Of the War In
dustries Board on December 81. the
+! indications are that the general stock
market is likely to continue in its
present irregular trading POSITION
I S. 8. Chaplin & Co.