Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-04-08
PEACE IDEA CHEERS
TRADERS IN WALL ST.
Broad Movement Forward OF
Industrial List Fairly Con-
sistent-Business Lively
Stock sales today on the New York
Exchange t0taled 1.272.6OO shares.

New York. April S.-Thc New York
Evening Suns financial review this aft
crnoon is as follows:
The Imagination of Wall street was
again captivated today by the idea of
peace by Easter. 1t was true that there
were two opinions about the reason
for sImmoning the presidential ship to
Brest. whittier she sails on Friday next.
one being that the President felt as
sured peace prcliminaries would be com
pleted in the time stated by Mr.. Floyd
George and NJ. Pichon, and the other
that differences were irreconcilable
within the "bg four" council. and Mr..
Wilson wanted to be prepared to with
draw.
The first opinion was hope which
played conspicuous part in advancing
prices to 4 points or so. and again
rolling up transactions above the mil =
lion share figure. Needless to say. the
second opinion found but few to share
it, and at best represented rather
remote fear of the more pessimistic elc-
ment
The street was determined to he
cheerful, and the more it saw the pub
lie entering into the market the more
cheerful it grew. Business was lively
from the beginning, and the broad
movement forward of virtually the en- =
tire industrial list was fairly consist
ent. Prices reached their top levels in
the afternoon. While the steel group
was but slightly changed and the COR :
pcrs were even a bit heavy. the great
est buoyancy prevailed elsewhere. and
once more under the leadership OF
American international Corporation
| which added some g or points to the
nearly 10-point rise of Monday.
Marine common and preferred and
Atlantic Gulf We're pulled along vigor
ously in the wake. The tobaccos were
we'll bought. Conspicuous among in
dlvidual issues and specialties were Gen
erai Motor, Mexican Petroleum. Kelly
Springfield, United States Food
Products. the former Distilers Securi
ties, United State Rubber, Natioua
Financing, Burns Brothers. American
Agricultural Chemical and so on.
10 the predominating influence q
peace hopes were added the conference
scheduled to take place today bptwce,
MessrS. Wilson and Lloyd George tho
between the Industrial board and Direc
TOR General Hines in Washington. t,
which special interest attached becaus
OF the attitude of the Department o
Justice with respect to the Legality q
the industrial board itself and of th
price fixing plan sponsored BY the De
partment of Commerce, and the extra
ordinary showing in the government re
port on the condition of winter wheat
That report put the condition of win
ter wheat at W.S, the highest on rec
ard. and on the largest acreage eve
planted in this country. The indicate
yield is S37 200 900 bushels. The con
dition was placed at 9S.6 on Decembc
l last and on April l last year 7S.G
while the ten year average was So
This is the highest on April l sine
1882, and the only year in which indi
Gated yield was as large was in 1914.
The list was unsettled in the last hOu
and there were substantial recession
from the top levels, particularly amon
those shares which had advanced mos
rapidly earlier. 1t was not so mucl
a case of reversal of trend. however
as of a gradual dying out of the NOR
urgent demand. Bonds were quiet. In
tcrborough Metropolitan 41as declined
point and Interborough Rapid Transi
5s were under fractional pressure.
After renewing at , per cent. the ca
loan rate went, to q per cent. as it di
yesterday. the expanding trading /
stocks calling for greater demand fo
money. Time funds were restricted
amount and with only slight busines
for the earlier dates at 5h to 5& p,
cent. There was another shipment
$500 900 in gold to South America an
nounced.
Contrary to the general belief, II
War Finance Corporation 8 per ceI
! bonds have not been oversubscribed. Il
t amount of subscriptions to yesterds
: having been about $1S5. 900 900 of II
5000. 900 900 offered The use of Il
interest rate on these bonds as an arg,
ment for similar rate on the forth
coming Victory Loan issue met wit
but little encouragement at the Treasur
department, II was said.