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Show SHIPPINGS AND RAILS ARE TWO FEATURES OTSTOCK MARKET Gains of From One to Five Points Are Recovered Despite Usual Week-end Selling for Profit. NBW YORK, May IT. Shippings and rails were the outstanding features of todays to-days short, but active, stock market session, ses-sion, recovering pains of 1 to 5 points and retaining much of their advance, despite week-end silling for profits. Mercantile Marine common and preferred pre-ferred led the list in expectation of an early announcement favorablu to shareholders, share-holders, and American International, which has larye marine holdings, was not far behind. Yesterday's general advance in rails : was continued in moderate decree, i he I more speculative issues joining with , standard shares at Irregular cuius of 1 I to almost o points. , Oils, equipments and metals followed at varlalbe advances, but L'nitcd t-Hates Steel pursued its recent uncertain course, I holding within fractional limits. Related j issues were less prominent, the onlv strik-I strik-I ins feature beinjr Central Foundry preferred, pre-ferred, which closed at a gain of G points. Sales amounted to 750,000 shams. General market news included further ! firmness in the metal marker, encourai;-. encourai;-. ins reviews of the mercantile agencies. and prospects of additional capital issues 1 in the coming: week. The bank statement failed to reflect to any extent the week's heavy operations in ; stocks, actual loans, for example, showing show-ing only a nominal decrease, with a frain . of about S14.600.U00 in excess reserves. Bonds were firm, the Liberty group de veloping greater strength on a further rise in Liberty u's to 99.60. Total salea, par value, aggreKated $6,050,000. Old United States coupon -Is rose H per cent on call during the week. l'rupelled by the broadest speculative Inquiry since the beginning of the world war, and in many respects without parallel paral-lel In the country's history, the stock market this week ascended to new heights, seemingly without strain In any financial quarter. There Is ample evidence that borrowings borrow-ings have expanded enormously, especially brokers' loans, and the absence of - control con-trol or supervision of the money market by any constituted authority has excited ex-cited misgivings in conservative circles. On the surface the only monetary disturbance dis-turbance was caused by a belated midweek mid-week demand for call money, with a resultant re-sultant advance of 1xz per cent, but normal nor-mal conditions were almost immediately restored. Even the complete collapse of foreign exchange on France and Italy failed to arouse more than languid interest, except among international bankers, who were unable to offer any reasons for this adverse ad-verse movement other than the long recognized rec-ognized economic conditions. Bullish literature, which circulated the length and breadth of the land, emphasized empha-sized such favorable factors as the peace treaty terms, crop prospects, the unqualified unquali-fied success of the Victory loan and the . coming session of congress. , |