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Show COPPERS IN STEADY DEMAND; EQUIPMENTS GAIN 3 POINTS Rails Absorbing Features of Brief but Active Day in .Wall Street 1 Trading. NEW YORK, March 24. Rails were the absorbing features of today's brief, but very active, session, that division for the most part adding to its belated advance of the preceding pre-ceding day, presunmblv on the prospects of higher freight and passenger rates. Buying converged around coalers, Reading, Read-ing, Norfolk & Western, Lehigh Valley, Baltimore & Ohio and Erie advancing: 1 to 2 points. Gafns in other rails, notably St. Paul, Northern Pacific, Southern Pacific, Pa-cific, New York Central, Chicago & Northwestern, Illinois Central, Colorado .Southern and the preferred shares of the Missouri Pacific, Wabash and southern roads attained similar proportions. United States Steel was variable, rising ris-ing and falling within a point of yesterday's yester-day's final price, but Bethlehem Steel, shipping and motors were moderately reactionary, re-actionary, with Canadian Pacific and Union Pacific. Coppers were In steady demand at gains of 1 to almost 2 points, Utah proving prov-ing the exception, falling back under pressure, but making full recovery later. Baldwin Locomotive was strongest of the equipments, rising 3 points to 604. Among the less active industrials and specialties strength was shown by Malting Malt-ing common and preferred, liide & Leather preferred and Gulf States Steel at gains of 1 to 8 points. Wilson Packing Pack-ing added 4 points to yesterday's material rise, making a record of 75 and Virginia Iron & Coal rose 6 points to 71.. Realizing Realiz-ing for profits caused a general shading of prices, but the market closed with a strong tone. Total sales, 630,000 shares. Actual reserves in own vaults and federal fed-eral reserve banks of local banking institutions in-stitutions decreased about $20,000,000 during dur-ing the week, excess reserves decreasing by little more than $21,000,000, just about offsetting the previous week's gain. Bonds wTere generally higher on an expansion ex-pansion of dealings. Total sales, par value. val-ue. $L',3S5,000. L'nited States coupon 4s rose per cent on call during the week and coupon cou-pon 3s declined per cent. The foremost features of a week reminiscent rem-iniscent in its activity of the boom markets mar-kets of last autumn and early winter. 1 were the president's proclamation calling congress in extra session and the supreme, court's decision upholding the Adamson law. More important as direct bullish factors were the favorable annual report re-port of the United ltates Steel corporation corpora-tion and the tardy, but sweeping, rise in railway shares. Wall street's calm In the face of significant sig-nificant military and naval preparations was accepted by leading banking interests as evidence of the country's ability and determination to confront grave eventualities. eventual-ities. Absence of market liquidation, stability sta-bility of money rates, and the apparent success of the new French loan gave emphasis em-phasis to these extraordinary conditions. . Trading was broad, even though dealings deal-ings ran mainly to industrials and the more speculative shares commonly described de-scribed as war issues. Advances In some of the latter doubtless were retarded, however, how-ever, by a well-defined belief that contracts con-tracts to be awarded by the home government govern-ment will allow of no more than moderate profits. |