The Washington herald., 1918-02-01
From the Financial Ticker


Stocks were active and strong in
the early market on the Console
dated Stock Exchange today. The
odd lot dealings were on heavy
scale and there was additional evil
dence Of an enlarging interest on
the part OF the public.
A further retreat in the quota
tions for the outstanding issues Of
liberty bonds failed to exert an ad-
verse. Influence upon sentiment.
The latest news regarding the ex-
tent and vigor Of the labor move
ment in Germany. with the strik,
ers at Berlin reported to have ad-
dressed an ultimatum to the gov
ernment demanding the accelerated
conclusion Of a general peace with
out indemnities or annexation. had
a favorable effect upon trading
opinion. II was again apparent
that the supply Of stocks was de-
cidedly limited In many sections Of
the list. The strength extended gem
orally throughout the market. both
industrials and rails participating.
with some Of the speciaities making
particularly sharp gains. Steel. how
ever, was the leader In the forward
movement. It opened at % s-s. ana
from there steadily rose. getting
well above s51-a. B. 8. B.. next to
It in prominence among the steel
rs rs, and then advanced above Is.
Among railroad Issues. Reading
opened at 70 7-s. and later crossed
rs, while Union Pacific opened at
115 and made Q further gain later.
A canvas Of commission houses
indicates that this alleged unrest in
Germany has furnished principal
The fact that Washington admits
that IL has information of condi-
tions in Germany which II considers
Of the market.
Market broadensd in the first half
hour and important gains were
made. Rails were helped by settle
ment of the intermountain>ra rate case
In which o Is per cent increase In
rates was granted.
Announcement Of selection Of p.
~ .. Thuhllut utoo VI tho
corporation as president of the
Allied Shipping Council. helped
shipping stocks.
Selection OF such q council will
tend to stabilize ocean rates and
prevent ruinous competition after
the war ends.
Marine preferred. A. q. w. l., and
United Fruit all sold higher.
The fact that the unrest news
from Germany has been confirmed
by Washington officials has caused
q large interest in the market to
take the bull side, this interest has
been waiting for q eonfrmation Of
the news, not believing the nrst re-
ports.
In a report OF the condition of
the Mechanics and Metals National
Bank of New York, at the close of
business December 81. 1917. total
assets are placed at s274.26s,5so.73.
Surplus and undivided profts total
s1o,s1o.o3o.o4.
For some time investment houses
have reported . continual demand
for dividend-paying stocks which
is steadily depicting the supply OF
those shares in Wall street. but the
buyers are not urgent and do not
follow upward movements in their
efforts to accumulate holdings. In
some commission houses mention
was made last night Of the amount
Of attention required in executing
odd lot orders which in many cases
figure up to respectable amounts for
each separate account. One house
reported 20 lots purchased for one
buyer of IS shares each. Other COM
mission houses report similar deal
ings in less than hundred-share lots
but this does not indicate an in
crease in the outside speculative
interest which is looked to to fur
nish employment for brokerage Of
fices. It 10 assumed by many that
the investment buying with its sta
bilizing effect on values which has
been apparent for some time will
lead to larger volume Of business
on margin accounts.
Regular dividends were yesterday
declared on Lead, preferred, and
Consolidated Gas. Liggett and
4OudCCO
their regular quarterly dividend OF
three per cent on common stock
payable March to stockholders Of
record February Is.
Merchant furnaces during jan
uary sold approximately 100000
tons OF pig iron of various kinds
mainly for shipment during second
diia rfar of this vaar Thr.a Co., rtl, =
of this business has been taken
quietly in the last two weeks by
selling interests at Cleveland and
Buffalo, In eastern Pennsylvania,
the Pittsburgh district and in the
South. The .Sloss-Sheffield Steel
ana Iron Company is understood to
have taken large orders fot ship
ment into the Ohio and Mississippi
valleys. Comparatively small sales
has been made for Eastern ship
ment