South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-03-17
ReUiew of the Week
BY Financial Editor.

The best that can be said Of the
weeks stock market is that there
was a daily session with moderate
huctuations-more or less profess
siOnal traoing-but the public gen
orally looking on in a disinterested
fashion. The dullness at one time
became 80 pronounced that it wOu.d
only be proper TO speak of il as a
market b. courtesy.
The news during the week was
varied in charac ter; some favorable
some otherwise but nothing seem
ed 20 be sufficient in importance 20
start the market definitely in either
direction.
At the beginning Of the week the
public had an opportunity to study
the steel situation. The weekly re-
port showed a decrease in untitled
orders of 1S9, 400 tons. This reflect
ed mainly the absence of orders
for domestic uses-business appar-
emily being devoted entirely 10 serv-
ing war purposes for the govern
ment. The Iron Age in it's review.
said that favorable weather had
increased production of iron and
steel. but arrangement and ineffi-
cheney Of transportation still stand
out everywhere. Industries will
fall cOnsiGerabl short of capacity
production in 1918. Meanwhile,
plans are developing rapidly a
Washington for large steel require
ments for the second quarter of the
year" IN a short while the ques-
ton of dividends will again be
prominent as a market factor The
present rate is so very large, as
compared with the price of the
stock. that it seems to many un-
reasonable to anticipate a contin-
uation Of the present rate Of per
cent and u extra. The present
time. however, is a little premature
for a discussion Of the subject.
The bulk of the trading during
the week was confined mainly 70
a few railroad issues-particularly
Reading, Chesapeake & Ohio, and
Union Pacific. though New Havel
showed a little activity when rumor
was circulated to the effect that the
government would take care OF the
k45,OOO.OO Of maturing notes Of
this company. This rumor. however,
was soon put TO rest by the state
ment from Director Gen. McAdoO.
/ In which ne stated that the rail
road administration had arrived At
no conclusion as TO the obligations
maturing of the New Haven rOa 4,
and that TO decision has been reach
ed by the government as 20 the eX
tent, If any, of aid which is 70 be
I extended to the system. The trade
/ in Reading was very large-buyins
on a large scale was done by houses
which have been operating in this
stock for some time.
In anticipation Of the final enact
ment OF the railroad bill which f.
nally passed the senate on Wednes-
day. and the house on Thursday, the
rails showed an advancing tendency.
Ii is. of course, Of considera BILE
value 10 the stockholders of the va
rious companies 10 feel assured OF
their position. They are now GER
tain of a fixed income for the roads.
and they can quickly adjust them
selves. and the value Of their hold
/ ings. 20 the new situation.
Tn the midst Of a generally steady
market. the weakness in a few in
stances was more than usually no
ticeable. A. T.. & T. which was sold
/ because of the disappointing show
+ ing I'm its last statement soon
. brought forth rumors. which is usu-
/ ally the case; one was 20 the effect
I that there was likely 10 be a reduc-
\ ton I'm the dividend. and. further
more. that a S60.000.000 note issue
was likely This was promptly de-
MED by those i'm authority. who
claimed that recent financing is suf-
hcient for all of the company's re-
quirements. AZ least, for the coming
year
Peoples Gas was also weak. due
10 appointment by those who an
ticipated permission from the state
commission 20 advance Consume rs'
Gas rates As matter Of fact.
there never was much hope for a
+ favorable decision in the case. and
+ the little selling that occurred was
OF no particular significance The
+ existing contract with :he city o.
/ Chicago will expire this summer.
and a new arrangement viii no
doubt be more beneficial Cor the
. company.
United Cigar stores. which de
+ cHned about J. points on the publ
cation Of lis annual statement has