Evening star., 1918-04-07
LIBERTY LOAN IMPETUS
STRENGTHENS MARKET
Stimulating Advices From Battle
Front Land Good influence
to Trading.

NEW YORK. April 6-Under the in
fiuence of stimulating advices from the
battle front and the mighty impetus
given to the third liberty loan. today's s
stock market strengthened in all quar-
ters. leaders attaining to highest levels
Of the week. Trading was broader and
more active. the total of the two hours
far exceeding yesterdays five-hour ses-
sion. Extreme gains in important is
sues extended from 1 to 21a points. and
among speculative shares the advance
ranged from to s points.
United States Steel asserted its for
mer leadership. gaining III points on
steady accumulation, including several
large individual blocks.
Shippings and petroleums were next
in favor. Marine preferred, Atlantic
Gulf, Texas Company and Royal Dutch
leading those groups.
Rails made up in strength what they
lacked in activity. Canadian Pacific,
Union Pacific, Reading and other in
vestment shares gaining 1 to IN points.
Bonds were strong, French issues
supplementing yesterdays gains. Totai
sales par value aggregated $2.6OO,O0O.
United States bonds (old issues) were
unchanged on call during the week.
Weekly Financial Review.
Wall street was put to severe test
of it's courage and sanity during the
last week. but emerged with undimin-
ished confidence. Nor was there any
of market values.
The only outward manifestation OF
its general attitude while the harrow
ing struggle on the French front pro-
ceeded was a decided slowing down OF
hA
days barely appropriated the total at.
tanned on any Of the countless boom
sessions Of the last three years.
Tho end of the week witnessed the
finance corporation bill by President
Wilson and the launching of the third
liberty loan under auspices that would
seem to insure the successful consum-
nation Of that momentous undertake
ing. Outstanding liberty issues, espec-
tally the Is, yielded virtually all their
extensive gains of the previous week.
So far as the stock market disclosed
any trend at all, industrials OF recog-
nized worth Jared rather better than
rails. Transportations derived little
benefit from crop prospects which in
former times have strengthened grain
and cotton carriers.
Trade authorities agree that the busi-
ness outlook is most hopeful on the
country.s entrance into the second year
of the war, but refer to various re-
strictions and regulations as among
the factors making for uncertainty.
Weekly Metal Review.
The outside steel market continues
quiet. but improved traffic conditions
are sending a greater volume Of steel
into consumption on specifications
Federal requirements, especially for
ship steel, promise to be exceptionally
heavy during the next few months. In
tho meantime, priority will be given
plates over all other steel, and producers
have been asked to be prepared to de-
liver 100 per cent Of orders. The mills
are now turning out a general tonnage
heavier than ever before. but the gov
ernment will consume over IS per cent
of the production.
Receipts of coke have improved, but
have been somewhat irregular and in
sufficient to meet requirements.
Lead is quieter and easier than a week
ago. Spot stocks in New York have
practically disappeared. but arrivals
have been sufficient to provide for the
needs of the consumers.
The production and distribution OF
copper are about equally balanced, and
the market is one of routine.
Tin keeps growing scarcer and
higher, with very small offerings from
the far east. The nominal price for spot
Chinese is now about SO cents, and Apri,
shipment from Hongkong is held al
77H cents.