Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-04-24
WALL ST. SLACKENS
PACE OF PAST WEEK
Trade Materially Lighter in VOL
ume-Price Changes Variable.
List Lacks Consistency
stock sales to day on the New York
exchange tOtaled 1,2T,7OO shares.

New York. April 24.-Thc New York
Evening Suns financial review this
afternoon is as follows:
Wall street settled back and took
things II bit easier today. Trading Ill
the stock market was materially lighter
in volum" than in any previous session
this week. Price changes were vari-
able There was no evidence of weak
ness anywhere: indeed there were peri
ods of considerable strength in some
groups. like the oils and feathers. and
among individual shares Influenced by
special factors quite pronounced. Th"
list lacked consistency, however. II
moved this way and that in tn" man
ucr of II pedestrian in doubt as to the
best way to reach his destination.
steel ruled fractionully below lO2, II
good part of the day. Bethlehem steel
was under pressure while awaiting an
announcement from the directors meet
ing. Whcn it became known that tho
extra dividend rate had been cut from
II per cent to - of | per cent
that issue actually strengthened
on the theory. presumably, that no
body would HAY" been surprised if the
extra had been discontinued altogether.
Baldwin aud American Locomotives.
once they got under way, were briNkly
bought at advances at > points or 50.
The roppCrS were heavy.
There was little call for comment in
the railroad department. In contrast
with yesterday and Tuesday, neglect in
that list was striking. Prices wcrc
barely steady.
1t would be an rXaGgcratlOn to say
that the Italian situation within tn"
Pence Conference was the cause OF the
hcsitancy in the market. 1t was an
influence Of IL sort which derived its i'm
uortancr as IL factor mainly from the
chance that il cOiuridcd with feeling
in Wall street itself that spccuIntiv" on
thusiaSm had. perhaps, to some extent
ovcrrcachrd itself. That all hopes of
an adjustment have not been abandoned
was Indicated by the adviccs from Paris.
Opinion here leaned to the feeling that
Italv's position was untcnabl". and that
She had more to lose in withdrawing
from the conference than the other Allies
have, 4 good deal of nll"wanc" was
made for the warm Italian tCmpcra .
mcnt.
1t would be fairly accurate to say that
interest in tn" progress Of the Victory
Loan far trausrcndCd anything that was
happcuing in Europe ut tn" moment.
Peace can be signed without Italy. II
necessary. and Wall street has good
reason to believe that preliminary set .
| tlcmcut is close ut hand.
The loan campaigning is gaining i'm e
pctus daily. gauged by pledges rather
| than BY actual subscriptions to date,
/ Two states and innumerablc cities have
| already reached their quotas. There
was CalSr for chccrfuluCSS. too. IN re.
urrts from all over iii" country that the
number Of unemployed was rapidly dc
crcaSng.
As the session drew towards the close
the tendency of prices was 10 lower
levels. while business became slower and
slower. In turning dull on the decline,
the market was true to character. Steel
went below 10I. and those issues
which had been strong lost most Of their
gains. Liberty bonds were steady To
firm.
Money was again quiet and virtually
unchanged. Business in time funds was
confined mainly to few renewals and
small transactions at 5ls 10 54 pei
cent. Cali loans were quoted at JE
per cent. including renewals.
Declines in francs and lire featured
a dull foreign exchange market, francs
receding some 3 points to G.06 francs
TO the dollar for checks. Lire went
down > points to T.46.
There were irregular movements in
cotton. although the market for that
staple had firm undertone. Corn and
oats displayed strength until late when
There was a sharp break In the former,