New-York tribune., 1915-10-30
MARKET NEWS
AND COMMENT
Broad Rise in Railroads
Little Done in War Con
tract Issues.
COPPERS ADVANCE
TOWARD THE CLOSE
Practically the Entire List I'm
groves in Unusually Active
Dealings.

strength in tho railroads. which
marked .tc late dealings OF Thursday.
dom mated Yesterdays session on tho
stools Exchange. some OF the war
stocks made overnight gains. and there
wa. more done in the industrials
toward tie close. bat the confident
f1rfre was ir the carriers. The rail-
,o.G list made an advance OF point
o. .wo. holding the great part Of the
Gain 90 the close. Business was IN even
larger volume han on the day before,
upward Of 100000 shares changing
hands. Bonds were dealt I'm 20 total
or moro than s5.00o.O0O az firm prices.
European adriccs were reassurinE
rs 20 The unchanged attitude Of the
lrcrch and British governments toward
vigorous prosecution OF the war. The
chairman OF the United states Steel
Corporation paid tribute 20 the stabll-
.ty o. The steel trade, our most impor-
taut industry. There was. he SAID
10 reason 90 suppose any falling on lH
the demand Tor finished steel products,
which i, ,aEirc the producing capacity
o. m lle and the pig iron furnaces. ana
he expected prices 20 90 higher \ fpr-
Their advance in sterling relieved appre-
hcne,or tfat disorder o. The exchange
market might interfere with ouc COM
wcrcc and bring back our securities
from the other side faster than we
might be ready 20 receive them.
The reaction in war stocks seemed 20
lavc rich.cd the market position and
rriccs were firm from the opening. with
. broad list dealt In. After htte
reaction ,r some Of the war stocks that
had made largo overnight advances INC
railroad. assumed leadership. cana
dian Pacific whose earnings make sucl
marked contrast with the low traffic OF
1919. Icd the upward movement. with
Reading unusually firm and active. by
noon the railroad list as q whole was
rising. .-
tborc was some irrccularity among the
railroads on profit taking. but generaily
fhev closed not far from their best
Canadian Pacific made maximum rlse
O. more than g. points, with q net gam
o. over g. At tho end Of the ddy gains
o. point or more were common not
only i'm roads leading 20 the Atlantic
seaboard but even in the southern
lines. n.
noon advanced as buying broadened'
and number Of industrials Joined IN
the upturn, including some Of the
automobile and other war stocks'
United states steel went up 10 over 81:
more than 1 points above the low OF
the dav before. and closed with a net
cain Of over .. Anaconda and Guggen-
helm Exploration were particularly
strong among the copper stocks. bald-
win Locomotive toward the close went
above its high OF the day before. clos
inc with net advance Of more than
poin+e. and Studebaker recovered lO
noints Of its loss of THURSDAY.
Sterling exchange opened higher and
after some recession went up 10 4'o0-2
for demand. sc in the pound above It's
low OF the week. Further purchases
bv banking interests seemed 20 indi-
cate that the credit created by the An
pIo-Freuch notes was now direct IN
auerce i'm stifcning exchange rates.
From known movements Of currency
during the week a gain Of over sl2'OOo'-
O00 ~ local banking institutions Is pre-,
dictcd. and lending rates, IN spite OF
,rd Of the month requirements, were
a. low rs or the dav before.