Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-11-15
SPECULATIVE TRADING
SHOWS LESS ACTIVITY
BY I. A. FLEMING.

There is every indication of specu-
lation slowing down. conservatism
being more dominant. and of a dispo-
,ssition to await the solution of many
seoA the problems that are now plainly
before the statesmen Of this and other
allied nations.
The peace Jurors in the stock mar
kets have subsidized: the Offices of
brokers, crowded when the first news
of the signing of the armistice! was
received. are practically deserted save
for the usual room traders, and the
general public seems for the time be-
ing to have lost interest in stocks
Stock brokers are anticipating let
up in the control of the money market
and action that will permit of trading
on materially less than the 80 per cent
margins exacted at this time. but so
far there has been no disposition on
the part of the money committee of
New York to remove the brakes.
Officials of the government do not
look for any depression during the
adjustment period. expressing conf
dence that. as general business was
not seriously interrupted by the war
program, save in a few branches. 1t
will continue on or near present lines.
All energies are being directed to pre-
vent disturbance. The copper interests
of the country are in conference here
today with the War Industries Board.
This is one industry that would prob
ably welcome the renewal of restraint
and take chances in the open market.
The demand for copper in reconstruction
work will be great, also in enterprises
and operations that have been side
tracked for the war.
The United States produces three
fourths of the copper of the world and
a larger part OF the refining capacity.
The standard fixed price, rs cents a
pound. still prevails. but producers claim
higher prices would readily be paid, as
miners are now being paid on a much
higher basis Of % cents.
Good Bonds Wanted.
Bond houses report a scarcity of new
high-grade bonds. There is a demand
for this kind OF security, as evidenced
by the sale of a block of equipment
trusts the other morning in less than
one hour from the time of opening
the books.
Investigating Liberty Bond Sales.
The committee on business conduct of
! the New York Stock Exchange has re-
quested members to acquaint it as soon
as possible with sales of third and
fourth liberty loan bonds on November
4. s, z, and 8. inclusive, in amounts
of over $1,000.
The records must be accompan MED
with the customers name and address,
as we'll as the price and amount sold;
must include purchases made from nom
members, but not sales made for other
stock exchange houses.
Big Tonnage Order.
II r, Renloele director of steel s,1nnly
has contemplated arrangements for the
sale of 100000 tons of commercial steel,
the first important order of it's kind
since signing of armiStice.
Local Market Interesting.
Today's session of the local stock
market was interesting, but attended
by only fair trading.
A feature was the advance. of
American Security and Trust Compa ny
shares to 220. with this price bid and
none offered under 225. The stock
sold early in the present week at 30.
sold yesterday to 215 and continued
strong today.
A small lot of Federal National
Bank stock sold at 17s.
In other markets bank shares have
improved considerably since the sign
ing of the armstice, New York re-
porting some great gains, and it may
be that local bank shares will also
improve, with a more active demand.
hallway preferred sold at 68A, eX-
dividend; Capital Traction at. s6h.
while Lanston was reasonably active
at 64A to IS.
The only bond sale was of Traction
5s. and the price 81.