Evening star., 1919-04-27
BU0YANCY MARKS
! MOST OF MARKETS
Grain, Cotton and Corpora
tion Securities Active, With
Rising Prices.
IRON AND STEEL LAGGING

Special Dispatch to The Star.
NEW YORK. April 26.-Buoyancy
antg optimism market most Of the i'm
portant markets this week. Grain.
cotton and corporation securities were
particularly active. with rising prices.
:, Their strength is attributed chiefly to
foreign conditions. the abolition Of
such as the blacklist, licensing and
rationing and the proposed return Of
Europeans to war bread.
The most important reactionary
phase of the weeks business was con-
tributed by the iron and steel indus
tries. which continued dull and un-
steady because of the price contro-
versy. Practically all iron and steel
plants are operating at approximately
half capacity, this half capacity work
being almost exclusively on old orders.
Dry Goods Further Broadenec.
Dry goods markets show further
broadening and stt1ening, with buyers
more numerous. Jobbers are return
ing and making additional purchases,
although generally of moderate vol
ume. Higher prices have checked
business in some lines. but in others
past records for this season have been
exceeded Collections are good and
retail trade is brisk, with some evil
dence of extravagant buying. luxuries
selling better than staples in some
sections. Spot demand continues es-
peciaily active and scarcity of goods
is more marked. The restricted pro-
duction following the armistice is be-
ing more acutely felt. A good business
is reported with the West Indies and
the outlook is better for European and
South and Central American trade.
Manufacturers are steadily increasing
their output and in many cases are
booked ahead for several months.
The copper market has continued
extremely dull. Buyers have shown
almost no interest. although some
what smaller sellers have been will
ing to accept slightly less than Is
cents f. q. b. The majority of large
, producers quote 1914 cents (. o. b., al
| though one agency still asks l5A
cents.
Coffee and Sugar Trade.
was done in spot and afloat conees
chiefly the latter, and prices ad-
vanced sharply. Cost-and- freight quo
/ tations were also strong, but sales
were small. AS result Of the hand
to-mouth buying policy pursued by
early in the year. their stocks have
been reduced to dangerously small
proportions. Hence they have dis
,, played eagerness to buy. and finding
supplies small they frequently have
raised their bids cent or more
chases. Futures have also advanced
sharply, reaching new high levels.
Purchases were reported OF $4,000
; bags of Cuban raw sugar. mainly for
May shipment The Cuban crop move
| ment showed reduction. but ex-
| United States. Arrivals at Atlantic
ports also were smaller and MEETINGS
were reduced to $4,000 tons. Domes-
tic and foreign. demand for refined
sugar has improved: About: $4,000
tons were cleared this week from
New York and Philadelphia. Total ex-
ports from Atlantic and gulf ports to
April 1 were 100000 tons.
Jump In Corn Prices.
Early in the week tho strong ad-
vanoing tendency in corn was re-
sumed. prices quickly jumping to
still higher records. Late in the week
the market was exceedingly feverish,
traders being nervous. Hence there
" 90 VI Ion tIdAIHS lOT UOlu ACCOUNTS,
causing erratic changes On the
whole the trend was upward. notably
toward the end, when a sensational
rise occurred. and particularly in the
remote deliveries. but still the whole
list reached new high records-May
touched 1.72A, against 110h low; :;
July, 10. against 1.07. and September,
1.66. against 1.24A. 1t was again
. clear that numerous longs were un-
( loading May and replacing with July
or September.
Primarily the buying was prompted
by big rise in provisions. the high
iIrrice OF hogs and the higher value of
wheat and flour. But later 1t was said
that the upturn was largely caused
by reports that the administration
had suggested the return to war
bread. /. e.. the use of substitutes,
both here and abroad. This course
would mean a larger consumption of
| corn products. as well as Of barley.
rye, etc. Moreover, the exports Of
| corn from Argentina proved much
lighter than anticipated. being only
376.o00 bushels, instead of 600, 900
bushels estimated. To make matters
!