Show O p pI O 0 I Financial Review I Io o p c 0 New York Nov 1 16 The Tho Tho end of ot tho the war found Wall al street fully Culy prepared for tor immediate eventualities e as ns shown by y th the orderly course of ot the stock market mar mar- hot ket but much amuck l bewildered 1 regarding themore the tho moro more Important and delicate phases of ot tho the reconstruction ton period Assurances from Washington of or a gradual rea readjustment of oC war work wore on i downward basis and Indications that tho the treasury department contemplates a a. a moro more mo moderate policy of oC war post-war taxation were received with wih quiet satisfaction satisfaction sat sat- though tempered b by signs of oC fresh problems In relation to labor With tho exception of or the first da day following the signing of ot the armistice trading held within moderate moderato bounds Leaders most often ofen moved in opposite directions toe ino war group s-roup for a U. developing marked heaviness Halls flails Rals as a a. section ecton reflect reflected d c a parta partial reduction of ot the recent Impressive ac accumulation accumulation ac- ac c especially In the tho man many low lov grade Issues Industrials owed owell mud much of or their Irregularity not only onh to the thi termination of ot hostilities but to re renewed cc- cc pressure from professional sources United States Steel continued as th thE the center celter of ot speculative Interest falling considerably under par to the l I vest quotation since year mid but making up part of ot its loss later lator Trado Trade authorities au authorities au- au aro are n agreed reec that tho the steel industry Industry In in- in will wl speedily be restored to normal normal nor nor- mal bases bases- The immediate future of man many other othor stocks of ot a less definite denle character In Including In- In eluding metals or coppers copper hinges to a great extent en cn tho the attitude of oC the at t Washington Other stocks notably s and oils ois continue continuo to tobe tobo tobe be bo themselves governed 10 by influences peculiar to The many many unqualified assurances from official source sources that the coming period of ot trade adjustment will wil be managed managed man man- aged agell with wih due regard to all al Interests was paramount Influence of ot the week weel In the securities market markot Washington Is understood to bo be co co- co operating heartily with the leaders of ot finance Cnance and Industry to effect an easy transition fr from m war to peace It 1 is generally gen gen- cral orally recognized that some saro of the most delicate delicato problems facing the big Interests interests inter Inter- ests esta of this have havo their origin not only In the countries of ot the floe he entente enten o allan alliance but In central Europe pe as well weir wellA A corn com comforting feature of ot the tho domestic situation was wag tho the announcement b by the treasury department of or a reduced program pro pro- program gram gaam of ot war taxation Foremost trade authorities agree that tho the Immediate to n aspects of or general business business business busi busi- ness are confusing Commodity prices recorded further downward revision this month but buying In many Y m lines was at a n standstill in anticipation of ot further reduction Tho The end f lt the time week found prices of ot active stocks 2 to 10 points under the corresponding porI period of or last week In Industrials Industrials In- In oils and motors were adversely affected rails yielding only nominally Apart from developments resulting from the tho termination of ot tho ho war It Il Is la generally believed ed that cre credit lt restrictions cosine cosine- tons will wil continue to exercise their restraints From present indications time money will wil hold at prevailing pro ply rates with wih little or no Increase of ot sup sUp- |