Evening star., 1918-02-10
TRADING CURTA|LED BY
PROSPECT OF HOLIDAYS
Further Activity Of Pools in Various
Specialsies Furnishes Only
Interest.

NEW YORK. February 9.-The fur
cialties furnished almost the sole in
terest in today's market. representative
issues recording little change.
Trading was perceptibly curtailed by
the approaching triple holiday and the
short interest again covered commit
uents In steels. rails and other leaders
Extreme advances Of 1 to points
in equipments, coppers. motors and oils
and as much as to points In
Industrial Alcohol National Lead. Har-
vester and Virginia Coal were the
outstanding features.
United States Steel nuctuated within
fractional limits. closing at a slight
net gain. Rails were irregular. coaIers.
however. showing a firm trend: snip
pings lost some of their recent strength.
although United Fruit held its 2-point
rise Sales amounted to 23o.0o0 shares.
General news of the day included the
January statement of the United states
steel corporation, which showed an in
crease of not quite 100000 tons in
untitled orders over the preceding
month.
New low records were made by
liberty first four's at 1926 and second
four's at 95.l0. The general bond list
was hesitant on light offerings. Sales
(par yalus) aggregated s2.s25.00O.
United states bonds Gold issues) were
unchanged on call during the week.
Less Peace Talk, More War.
No essential changes from the more
important influences which SO long
have guided the stock market obtruded
themselves during the last week There
was less talk Of peace and more OF
war, for which the Tuscania disaster
and developments at Washington were
plainly responsible
Secretary McAdoo's plan to make
1ortnightly issues of half billion dol
lars of Treasury notes met with some
opposition, at first, because 1t was
feared the burden of such offerings
would fall too heavily upon local In
stitutions, but the comparatively
slight drain imposed was freely
acknowledged later. The bill giving
the government control of the railroads
assumed more definite form. contetn-
plated amendments proving acceptaoie.
In the main. to financial interests. Rail
road securities were unresponsise,
however. probably because Of the
further drawbacks due to conservation
regulations and the acute fuel condi-
Hons.
Hardening of money was expected to
result from the Treasury Departments
proposed financing, but short-time
loans eased.
eign war hotations reacted with do
mestic issues.
Weekly Metal Activity.
Although the milder weather during
the later part of the past week was en-
couraging, the time has been too short
to afford substantial relief for steel
conditions, which are no better than
they were a week ago.
Unfilled tonnage of the United States
Steel Corporation at the end of Janu-
ary showed a very slight increase of
s6.135 tons. The amount of untitled
orders was 9.417.s53, as compared with
s.3sI.71s at the end of December.
Mills, fabricating shops and factories
continue to operate at about so per
cent of rated capacity. Interest centers
market is not considered. The short
age of raw material, difficulties of
transportation and uncertainty as to
price after March 81 have placed an
enectual damper on private enterprise.
and all business taken has been on gov
eminent account.
A shortage of coke compelled the IN
termittent banking of so many blast
furnaces that January production of
pig iron fell to 2.411,0 tons as COM
pared with 2.ss3.000 tons in December
and S.1ss,e00 tons in November. Since
February ! iron conditions have not inn
proved beyond so per cent of capacity.
and there is still large percentage OF
of-grade on the market.
Fears OF shortage of refined copper
nave been relieved by the assurance
that transportation from the smelters
will be provided Lead has been quiet.
with offerings light and shipments un-
The metal recently commandeered is
befng released to large consumers bn+
importers and dealers may have to go
without for a time