Show SPRING REVIVAl REVIVAL- IS Optimistic Outlook Is Taken of Market and General Trade Conditions share Million shae days under the te leadership leadership leader leader- ship of or U. U S. S Steel and of ot the rails rals the thereal thereal thereal real leaders leders of the market crowd aside the last remnant of ot pessimism and seem to bring Into clear view the predicted spring boom At an any rate rte many observers ob oh- servers have changed their minds about the prospect of a resting spell or a sagging sagging sag sag- sg- sg ging market maket during tho the coming fortnight Trading in stocks this week brought out the biggest st and b broadest market in over overa a month The h demonstration of pOr price strength was the most Impressive of ot this year Many new highs were recorded Steel common apparently on its is way to to par reached 96 2 Seasoned traders are much ruch pleased to see this issue Isse assuming leadership Their preference is for fo a ad movement m l led steel l and aided railroads railroads rail rail- by a e by d J ge l i roads and the better class s of industrial n s stocks Motor and kindred shares also gave an a excellent display of ot strength Studebaker rising within a fraction of ot par and Chandler Candler disputing leadership with wih Studebaker on alternate days The copper group did well wel and the oil 01 stocks had ha their turn Among the te other oter stocks that easily ran rn above their previous high levels for fo the year were California Petroleum Pe Pe- Pc- Pc American Ice General Electric American Locomotive Baldwin American Woolen American Express American Tobacco Sears Roebuck Sers and American Car and ad Foundry While there is profit taking the demand for stocks is still sti larger than the volume of ot selling orders says E. E A. A Clark Cos Cos Review Ue The market appears to be getting Into position for a still sUI broader advance Business throughout the countr country progressing progressing pro pro- gressing greasing through well wel defined circles is nearing the point of ot the upward swing of ot the economic pendulum according to the annual aniual report of ot the federal feder reserve board transmitted on Monday to congress There are those the report says who believe beleve that the beginning of ot revival is not far tar distant When Ven it I does doe definitely set In In it i will be followed ii in due course by the new era of ot prosperity Financial writers continue to comment on the constructive constructive con con- influence of ot the progressive ad advances ad- ad ances vances in foreign exchanges sterling I having reached 4 41 the highest in more than two years and also on the therise therise therise I rise in farm fan products which they denominate de denominate denominate de- de nominate as of ot the most fundamental importance This latter feature has an immediate buoyant buoyant effect upon agricultural agricultural agricultural tural Implement fertilizer and man mall order securities Signs of reviving business are multiplying To cite only two of or the more Important because of ot their barometric bao- bao baro baro- metric character loadings loding of freight cars on all al railways of the country which show changes in the transportation in inI in- in industry before actual earnings earning's reports I become plainly Indicate a turn I for the better During the whole of ot 1921 there was only one week In which car loadings did not fall fal below the same week of ot the preceding year ear and there were only eight weeks when they did not fall below 1919 Thus Thug t far tr r in 1922 they have fal run some cars ahead of ot 1919 and cars ahead of 1921 and the tho latest weel weekly ly figures are almost matching those of ot 1920 It is these figures that stimulate speculation spec laton and investment In railroad and equipment stocks s. s The second sec see I ond unfailing sign sig of ot business revival is the widespread demand for steel products coming from practically all al sections of the country countr and from almost nil all al classes of ot consumers As a a result the Steel corpo corpo- ration raton is again working over 50 per cent of capacity and last week steel production tion ton registered the largest Increase In many months Accordingly better prices are being predicted for Bethlehem Cruci CrUci- CrUci ble Vanadium MIdvale and other steel stocks stocks as well wel as a for U. U U. U S. S Steel Steel This growing demand for steel presages a a. larger demand for copper and higher prices for copper shares making these Issues attractive at present levels These are good reasons for the state state ment that business Is improving more rapidly than has morE appeared on the sur sur- sur- sur face An atmosphere of cheerfulness and confidence pervades the financial centers All Al outside factors are favorable to the market and the trend is steadily upward There Thero are many stocks in our opinion opinion that have not yet Jet sold as high as we will ill see see soe them sell sel this spring |