Evening star., 1915-11-13
HIGHER,
RAILS ARE NEGLECTED
Average Gains of Two to Six Points
Made in Motor and Equip
ment Shares.
Usual Saturday Evening-Up Liquida-
ton Not in Evidence-The
Fluctuations in Prices.

NEW YORK, November 1S-There
were material gains in the motor
shares and sharp advances throughout
the minor industrials in what is known
as the war group today. while business
| in the rails was light and price changes
more or less unimportant.
Traders still hold to the belief that
big interests in the street are working
for a final break before Christmas
window dressing, but the disposition
of the public to invest in stocks and
to take speculative f1iers may prevent
the execution of the plan-customary
and expected from general usage
| throughout the month of November
| IN years past.
| Most of the former leading specula-
| tive favorites, while showing. a fair
degree of strength, moved comparatively
slow and the price changes iE these
stocks, Baldwin Locomotive. Crucible
Steel, Stuae baker, Maxwell Motors and
| Westinghouse, with Willys-Overland,
were insignificant compared with the
decided irreguarity of the past few
weeks.
| There was some little evidence of
\ evening up over the week end, but it
was not as apparent as usually the
case Saturdays.
One Sensational Advance.
sion and almost the only marked
cnange exceeding a point or two was
in LIggett & myers Tobacco shares,
wnere an eleven-point gain was estab-
lisned on light trading and head
| throughout the session.
| BALDWIN Locomotive advanced IN;
Crucluie S.eei a IKE amount, while
Maxwell Motois common rose to II, a
| tnree-ano o-a-half-polnt Improvement.
Wiiiys-Overiand imp. owed Q points,
while Goodrich and studebaker were
eacn one point better.
In the equipment and minor steel
| products snares gains averaging from
one-naI1 to one point were well main
| tanned. In this group are inciuoed
Car Foundry, Cast Iron Pipe, Pressed
steel Car, Great Northern Ore. Ten
| nessee Copper, inspiration Copper and
Loiorauo ruel.
Because of the closure of the sale Of
Lackawanna Steel the shares advanced
from close at 761s Friday evening to
s2, with reaction to 81.
Steel common was moderately active
and without material change
Rails Decidedly Slow.
st. Paul, Great Northern and Chesa-
peake and Ohio made fractional I'M
| provement with restricted trading,
while the rest OF the rails were decld-
edly slow.
Today's action, coupled with the neg
lect of the rails for the last few days,
would seem to confirm the theory tnat
big interests in the street favor price
recessiers.s In steadying the list dur
ing the smashing breaks in ALLEGED
the rails with great activity and have
been equally evident in their neglect Of
this group since then.
There has been a trend toward rails
based on good news as to business ana
earnings. but they must be well paced
before the public of today will follow,
action being essential with the trad
| ing element.
The Seaboard Air Line, reporting for
| the year ended June 80. shows a gross
decrease in comparison with the pre-
ceding year of s4,140.040; net after
taxes. in the same comparison. de-
creased 1,e62,11s, and the surplus.
81, l,332,5S3.
Diminution Of Public Interest.
Speculative influences were uppermost
during the week. with marked diminu-
| ton of public interest. although bonds
improved under a moderate investment
demand. The movement of prices was
highly irregular at times. with another
abrupt decline in certain war issues. these,
however. making up large part OF their
loss later.
| Railway shares were moro prominent.
and at times gave promise of taking
precedence over the industrial list but
foreign offerings, which were steady, IL
not large. served to check the advance
| in that quarter.
! Industrials were STIMULATED by the bril-
liant October tonnage statement of the
! United States Steel Corporation, together
with an advance In the price of refined
copper The inquiry for finished steel has
attained such proportions as to cause the
| foreign branch of the steel corporation
I to withdrav temporarily from the French
market.
Copper Concerns Lead Activity.
Higher prices were quoted for yir-
tually all the base metals and the Sc
curities Of the companies engaged in
those industries gained corresponding
ly.
In fact a very large part Of the
weeks operations was contributed by
the shares of the copper concerns,
Anaconda scoring the new high record
of IS. American smelting's unusual
activity ana strength was a partial re.
hection of the better conditions in
/ Mexico.
Arrangements were completed dur
ing the week for another commercial
credit with London banks. This pro-
tsct. it is believed, will attain large
proportions. but as yet it has given
little relief to the complicated condi-
tions prevailing between this center
and London.
| French exchange became distinctly
weak on renewal of heavy offerings Of
bills against Paris. The tone of other
continental remittances suggested the
need of additional remedial measures.
Apart from these obvious develop
ments, foreign affairs seemed to ex-
Iercise little effect on home markets.
New York Mercantile Paper.