Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-12-08
DIMINISHED TRADING
IN MARKET PAST WEEK
Financiers' Interest Mainly in
Presidents Address to Congress
and Treasury Change.

Presidents Wilson's appearance be-
parture for Europe. the selection Of
u new Secretary of the Treasury and
the dissolution of numerous auxiliary
boards created by the war engaged
the attention of the financial world
this week and gave greater force to
the new era of readjustment and re-
construction.
The stock market itself barely war
ranted detailed comment. trading
showing almost steady diminution,
with many mixed changes. Standard
rails and industrials were irregular
at best, while specialties, notably to-
baccos. shippings and oils, We're
tossed to and fro by professional inter-
ests.
Leading industrial shares were
again affected by reports of cancella-
tions, foreign and domestic. as well
as increasing doubt regarding main
tenance of existing price schedules.
among the products under discussion.
Money conditions ostensibly relaxed
on the restoration of brokers' margin
rates to 20 per cent. but in reality
I4o SISateE supply VI luIuS w DIS tSdil-
able, time money, in fact, being
scarcer than in the preceding week.
Persistent weakness of liberty
bonds. with the new 4 S selling more
than per cent under their sub
scription price, served not only to
make conditions in the investment
market more unsettled, but gave adj
ditional interest to the new govern
ment financing.
Weekly Review of Metals.
While awaiting action pertaining to
the metal industry during the early
stages of the reconstruction period,
expected to be taken at a conference
December II of iron and steel repre-
sentatives with the War Industries
Board, general inactivity was report
ed in both trades during the past
week.
Labor problems and price control
after the close of the current year will
come UP for consideration and leading
interests predict an end of govern
Inent price control on January l. No
drastic fluctuations are anticipated as
d result of an open market. Feeling
prevails that even if the industry at
large is able to make its own prices.
the present high cost of labor Will
preclude any startling recessions dur
ing the transition period, at least. Is
Inmates of the time required to return
TO a normal peace basis vary, some
authorities naming the start of the
second quarter of 1919 as the earliest
possible date for L full change.
Pig Iron Output in November.
The pig iron output in November
reached :i,S54 .OT4 gross tons, an av-
erage of III 500 tons day. against
S,4S6,941 gross tons. or 11:,4S2 tons
II day. in October. Coke shortage
and the resultant banking of some
blast furnaces We're accountable for
the decline. a decrease of six fur
naces in blast was noted during No
vember.
Confusion rules among tin import
ers following the announcement on
Tuesday of price regulations for De-
cember and January. Importers are
preparing to demand that the situa-
ton be fully explained.
\ reduction of 1 cent pound In
the price of lead was announced last
Monday. This move was viewed as
a step toward freeing this metal from
government control. Spelter was
quiet and weaker. No new develop
lneut was reported in copper Cop
per production by representative
companies during November showed
general decline. compared with Oc-
tober'S figures.