Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-04-28
LATEST FROM WALL STREET
BY WIRE AND OTHERWISE

NEW YORK, April 37-Thers was
some selling pressure from tho OPEN
ing, owing to most local traders being
disposed further to reduce speculative
holdings. pending further moro reas-
surfing developments in the foreign
situation. This lasted throughout the
first hours business. but the declines
from yesterdays closing. as a general
rule. were confined within a point for
the most active stocks and later when
sor1e new buying developed in the mar
ket toward the end Of the session.
Half Of this was regained under tho lead
Of steel.
The bank statement announced after
the close proved much better than had
been expected with the increase in sur
plus OF over $30,033. 900, bringing the
S. B. CHAPLIN & co.
Morse-A big stop order was caught
In Baldwin at 7SA and 1t looks better
now.
duction in output Of passenger cars is not
a surprise to the automobile industry,
which has quite fully realized that as the
war progressed further curtailment would
has had the subject under consideration
ever since the agreement was concluded
last winter providing for a 20 per cent
normal production for the first six months
OF this year.
There is no decided intention on the part
OF the government at the moment to force
a curtailment as drastic as Is per cent.
The chances are more in favor Of another
20 per cent reduction during the summer,
making total curtailment as drastic as a
total durtailment of so per cent, with a
further sharp reduction in the fall or
winter. On the other hand the automobile
companies in no event will be permitted
to sell the equivalent of more than SO per
week will probably determine definitely
the exact percentage of curtailment
throughout the summer months What
ever is decided will probably not 90 into
Lehigh Valley Coal Sales Co. declared
a dividend of 10 per cent in per cent
liberty bonds.
Hartman & Co-There II stin Pres
sure for commercial steel. perhaps
more than formerly. and yet CONNER
cial steel supplies have been fairly
large. Occasionally mills are reported
to be shipping 80 or 100 per cent of
their output for war purposes. but
these are exceptional cases. When
per cent of the output must be left.
amounting to about a million gross
tons month of rolled steel products
not commonly described as war steel.
Ing washing lOH dutHOFltleS are now
practically unit in endeavoring to
eradicate the tendepcy to classify
commodities as war material and mot
essentials" There are to be no nom
essentials, only less essentials" The
outcome eventually will be a complete
sequence from the most necessary to
the least necessary.
c. w. Sunlmers-The Tobacco Prod
ucts dividend on common stock will
be fnscript at per cent rate.
New York News Bureau-The copper
stocks continue to find many friends
on the bull side. although denials Of an
intended merger OF Inspiration and
Anaconda had a hating influence on
the bullish operations in these two
stocks. 1t was asserted by those who
are concerned in the matter that an
increase in the price Of copper to Is
cents after June 80 will result from
the conferences held in Washington
recently. and this belief has been q
basis for quiet buying.
A new feature was presented in the
demand which appeared for privileges
to call Midvale in the next thirty days