The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1915-12-31
STOCK MARKET


New York, Dec. 31.-Opening.-The
last day OF the year on the stock ex-
change opened with wide and general
advances. the outcome of the Austrian
situation being signalized by broad
buying movement United States
steel's initial Offering consisted of
1900 shares at 80 to SO 1-2, an over
night gain of points and duplicating
its maximum of the last i've years.
Shares Of the so-ealIed war classes
were one to three points higher with
especial strength In Studebaker, Bald
win Locomotive and Republic SteeL
Coppers rose more moderately, like
wise rails but the oil group added sub
stantia11y to recent gains
Noon-Dealings in the first hour
were the largest in several weeks, ap-
preaching 100000 shares. Steel,
Ieums were the most active issues.
Prices reacted soon after the opening,
the temptation to take profits being
too strong. The market opening, the
temptation to take profits being too
strong. The market took All offer-
shares extended early gains substan-
tally St Paul rose 8 u to 101 Il and
Paeifcs and New York Central were
higher by to 2 points. Another rise
in copper created fresh demand for
that group, Smelling rising 81 to
1e7 q and Anaconda 2 e to 81 u.
Among the few backward issues was
Bethlehem Steel, which declined I'm
70 IS Bonds were strong
CHenry Clevzs.1
The posftiontof the stock market is
gaStly beEter than a year ago This
fact has been largely discounted by
the rise which culminated in October
The decline since then was largely
in the industrials most AFFECTED by the
war. II being recognized that their abb
normal profits cannot continue for the
reason that the be1Iigerents are now
better able to supply their own muni-
fionssk- NevertheIesss many of the in
duskrfa1s viii benefit from the 1egiE-
mate revival OF business induced by a.
rich harvest and the late pIethor OF
money. The railroads. however, stand
20 benefit more substantially than any
other class Of Investments from pres
ent conditions Their earnings, gross
and net. are showing most encourag
ing gains Operation has usually been
reduced to the lowest cost, public hos
tIlitya has been greatly Iessened, and a
realization exists of the harm that
has been done, 80 that the outlook for
this gfeat industry is better than for
several years. There is the POSSIBLE
ity OF a too free return of American
stocks and bonds held abroad but
THIS Is naT0ly Ikely because the o11t-
ish government, through its naobiliza-
ton scheme, will control British sell
ing and win not Intentionally spoil its
own market Besides, hhe am CUNT OF
such investments for actual sale can
not be large. and much of what re-
mains consists Of high-grade invest
-nents held in trusts, etc. and likely
to remain abroad At this writing
the chief obstacle to a more active and
stronger market is. the prospect OF
.dearer money and the coming Presi-
DENTAL election. which promises tc
be warm contest The war has
thrust aside many OF the old issues
and in place of corporation and money
trust -ba1ting, we already have pre-
paredness, revenue and shipping. A
prolonged discussion seems probable
over preparedness There is no sound
reason why we should lose our poise
and be swept or our feet into mflitar-
ism or nayalisna. the consequences o1
which have, proved SO ruinous to 9TH
ere stiI1. I believe in ample prepar-
edness-