Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-01-26
PEACE PROBLEMS
PERPLEX MARKET
Formation Of Bankers Group
to Take New British Loan
| Outstanding Feature.
WEEKS TREND OF METALS

NEW YORK, January 25.-Liouida-
ton incidental to the transition pc
Rod was less obvious in the securities
market this week than in general
lines of trade industry. In the main
the market tended higher. although
this was not especially obvious in the
investment list.
Peace problems. notably the rail-
road situation and uncertainty as to
commodity prices. were among the
most perpIexing features. and to these
were added signs of uneasiness in
the field of labor.
Outstanding finacial developments
included announcement of the forma-
ton of a powerful group of American
financiers to take up a new British
loan and the removal of long-stand-
ing credit barriers affecting collateral
losses.
The latter action does not imply
that money is to be on free use for
speculative purposes, as the authori-
ties of the stock exchange will con-
tinue to exercise partial control over
brokers' borrowings.
Bethlehem Dividends an Index.
Traders for the long account de-
rived some satisfaction from the
maintenance of the Bethlehem Steel
dividends, accepting that incident as
an index to the possible action OF
the United States Steel directors at
their quarterly meeting next Tuesday.
In general, however, the immediate
future of the steel industry offers lit
tie encouragement. new business still
running behind postwar cancella-
har toiI r,,ont IF
lions was reported in the trade and
conditions affecting coppers and allied
metals were equally uncertain.
Preparations are under way for the
without the slightest irtimation as to
the essential details which will gov
ern that undertaking.
Review of Metal Trade.
There is feeling of optimism in the
steel and iron trades with regard to
the lowering of freight rates on ex-
port materials. Inquiries from for
eign interests are heavy and several
large tonnages in shiphuilding mate
rails have been credited to our allies.
The leading steel concerns are at
present inouiring through their spe-
cia1 Representatives abroad as to OPP
portunities for the continued manu-
facture of materials for shipbuilding.
There also is a strong movement
on the part Of steel interests to
search for agricultural lines to which
their plants NAV be adapted. thus
aiding the readjustment movement
and employing maximum number of
workers. Endowment in the steel
industry is falling off somewhat. de-
spite strenuous efforts on the part OF
manufacturers to keep labor en-
p1oyed.
The pig iron market is unsettled.
the existence of two prices and high
freight rates initiating against nor
NAL movement. Coke prices will
pass from government control on
February I.
Copper Market Quiet.
The copper market has remained
very quiet during the past weeks
Large producers are still holding cleo
trolytic at $500. but offering to guar.
antee buyers against any cut in their
own quotations, while some of the
smaller handlers are quoting 1900 to
1000 without securing much business.
Iron was unchanged.
Lead is quiet at 81 cents and in
terests are eagerly awaiting govern
ment action regarding the valuation
OF war contracts Spelter is weaker.
prompt shipment being quoted nomi-
nal at around 6.S5 cents.
In tin it has been announced that
the United States Steel Products
Company, appointed sole importer of
tin al1ocated to this country by the
inter-allied tin executive, has been
granted power to enter all orders
from consumers. provided that the
amount is not less than 100 pounds.
Formerly lots less than twenty-five
tons gross were handled by jobbers.