Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-09-29
MARKET INFLUENCED
BY WORLD PROBLEMS
international Developments, Po-
litical and Military, Among
Paramount Factors.

| NEW YORK, September 2S.-Inter-
national developments, both political
| and military. and the Inauguration
Of the fourth liberty loan campaign
I were the paramount influences in the
stock market this week
The war and loan situations. fore
most in the discussions in the finan-
cial district, were regarded as being
| solely responsible for the persistent
advance in prices. which had its in
ceptfon after last weeks liquidation.
/ This rise, only occasionally deferred
by profit taking or by momentary
periods OF heaviness attributed to ad-
verse incidents affecting certain
/ shares of the more volatile character,
| carried many issues into new high
| ground for the movement, with the
! upward tendency benefited by convic-
| ton that the market was in a stronger
! technical condition than it was a
week ago.
Factors Which Influenced.
There were a number of factors,
comparatively intricate, which con-
tributed to the improved sentiment
, Prospect of large new contracts made
equipments attractive to investment
buyers Increased trade prices grant
ed to iron producers benefited the
position of the steel issues. Railroad
shares responded to the governments
plan to take over the short lines with
insured increases in rates. Several
extra dividends were declared in
Central Leather and American Ice.
These Influences offset depressing
ones under which distillery shares
and Mercantile Marine preferred and
common suffered temporarily. Legls-
lation by Congress favorable to prohi-
bition contributed to periods of weak
ness in the liquor stocks. and the
Marine issues, after spirited rise,
receded sharply in the absence of
confirmation of projected reorgani-
cation plans.
Activity and record prices in
foreign war issues reflected the
progress of events on the battle
fronts.
Iron and Steel Review.
Foundry and basic iron have been
advanced 81 a ton and Lake Superior
ore IS cents ton. the increase to be
operative during the last quarter OF
the current year. Birmingham has
been included with Pittsburgh as
basing point and the former is lin
tied to points north of the Potomac
and east of the Alleghenies. which is
an advantage to eastern Pennsyl-
vania, Virginia and Tennessee rang
ing between 25 and rs cents ton.
A new schedule of differentials has
been promulgated by the American
Iron and Steel Institute. 1t embraces
pig iron, nails, barbed wire, coil, roll
ed. drawn and strip steel, ferro alloys,
sheets. cast water pipe, horseshoes
and boiler tubes. 1t is expected the
price of steel rails will be announced
at s57 for open hearth and $55 for
Bessemer. The shortage of iron is
causing some concern and the gov
eminent is making a further survey
of the situation with a view of re-
adjusting distribution. Production is
increasing, but still falls far short of de-
mand.
Other Metals.
The supply of refined copper is
barely equal to government require
ments, though production at the smell
tiers is increa sing.
Lead continues in limited supply,
aIlotments are confined to govern
ment purpose. The price remains as
established at SOS. cents New York
and 9a4 cents East st. Louis.
Spelter is quiet and easy.
Pending actual control and regula-
ton by the government there is little
activity in tin, though prices are firm
in expectation of shortage before
the end of the year. Spot is now
quoted at S2E to SO cents.