Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-04-28
APPREHENSION over
WAR Affects MARKET
Reports From Abroad Regarding
Western Front Subject Trad
ing to Pressure.

NEW YORK, April fiat the outset
the street was confronted with news
from abroad that engendered a little ap-
prehension over conditions on the west
ern battle front, and as a result the
market was subjected to moderate
amount of pressure.
As the initial offerings subsided and
tho later war reports suggested no occa-
sion for alarm over conditions in the
battle are. the market steadied and the
firm foundation Of same asserted ltseit
lin a way that brought about fairly
good rally aided by moderate amount
of outside buying.
The action Of the market in the past
month or more in the face Of the war
news from abroad is strongly corrobora-
tive of the belief entertained In con-
seryatiye quarters that stocks In, most
instances, especially in the railroad
group, have been pretty well liquldateo
and in many cases present Prices ara
prospective additions to same seem to
In the near future it is expected that
the rental contracts supposed 10 De near
completion between the government ana
the railroads will be announced. and IN
view Of Che circumstances surrounding
the general investment situation It Is
reasonable that the conclusions arrived
at will be of a sort to tmpart greater
cheer to the holders Of railroad invest
ments.
Registered Large Reversals.
Dividend-paying rails and industrials
registered extreme reversalS OF 1 TO =
points at the outset of the session. but
in several noteworthy instances half.
way rallies and even more substantial
recoyeries set in before the close.
point. making a Rrsss decline al AZ
points, but ressinlng all but smau
fraction. Shorts extended their commit
ments at the opening, but In the man
covered before the finish.
Reversals Of to 2 points In such rails
as Reading, Union Pacific and Canadian
Pacific were largely retrieved, and SINH
lar reactions in equipments and high,
Alcohol, were wholly regained:
Clearing house institutions fully re-
covered last weeks moderate contrac-
ton in actual excess reserves. also sd re-
900 900 reported at that period to the
local federal reserve bank.
Bonds were irregular. trading being
largely confined to liberty issues. which Ic
wsTs s aErlseated s4725 co. SsS
United States bonds Gold issues) were
unchanged on call during the week.
Weekly Financial Review.
The confidence Of investors and fore
most financial interests in the ultimate
result Of the world conflict was again
demonstrated In this weeks dull but
Trading iapsed into the narrow
groove. which accompanied the first .St
western front, but the undertone was
distinctly stronger. Activity was con-
fined to an odd assortment Of special
ties some of which responded to the
buiIish operations Of professional in
terests at substantial gains.
The quarterly statement Of the United
States Steel Corporation will be issued
next Tuesday at which time will also
be held the meeting Of the directors
to act ON the dividends. In well in
change in disbursements will be made.
OfIicial revision Of prices Is soon to
be announced by the War Board IN
commodities, Conditions favor an in
crease, rather than the reverse. from
prevailing schedules.
1R>k.1