New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-15
MARKET NEWS
AND COMMENT
General Active Advance in
the Late Dealings
Some Large Gains.
PRICES STEADY IN
EARLY DULNESS
Oils, Coppers and Specialties
Start Pise-ROck Island
Shares Decline.

In the late afternoon the market al
yanced 10 close with genera! show OF
strength. The Ancona message was
generally considered less likely to cause
disturbance and had brought no i'm
7o~tant selling. When few special
ties rose the short interest found 1t
difficult to cover, and as prices hard
ened there was some renewal Of specu-
lative commitments on the buying side.
Gains Of & point or more were com
mon among industrials and few is
sues made much greater improvement
Business expanded in the last hour, In
which the turnover was more than that
of the first three.
Early in the session the storms de-
lay in transportation and interruption
Of wire service limited business. There
was, however, from the start less OF
the uncertainty that had marked the
dealings of the day before. Prices IN
proved q little in the early trading,
and though the advance did not get far
there was little reaction and practically
no urgent selling.
The oil stocks showed early strength,
some of the war industrials advanced
and coppers were little higher with
better reports from the market for the
metal. international Mercantile Ma
rine preferred certificates, on the as
sumption that committees represent
ing the different classes Of security
holders had come to an agreement,
were actively purchased in the late
afternoon. They advanced more than
T points and changed hands 70 the ex-
tent of around 10000 shares, making
them the most active issue Of the day.
Texas Company led the petroleum
stocks, with maximum gain Of over D
points. Anaconda and American Smelt-
ing and Refining were up over 2 points.
Studebakeg, with gain of more than
s points, and Baldwin, which improved
more than !, we're particularly favored
in the war group. Norfolk g. Western
and New York Central went to new
high prices for the year, which in the
case Of the former was the best in the
roads history. Good earnings Of these
two carriers are causing the traders TO
talk Of prospects for larger dividends.
Rock Island shares were weak, ending,
after some recovery, nearly point
down. In spite of reiterated announce
ments that the roads financial needs
were 10 be provided for, foreclosure Of
the first and refunding mortgage has
been requested by bondholders.
London dispatches that gave the eX-
PLANTATION Of the Chancellor OF the EX-
chequer of the plan through which the
British government is to obtain our
stocks and bonds held in that country
were received with much interest. Since
It has long appeared probable that
these issues were to be forced out In
some way or other, the organized use
through responsible authorities seemed
to indicate that our market would not
have 70 absorb more than it could read
lily digest. Details were far from COM
plete, and the explanation had little or
no effect on securities or in the eX-
change market. Sterling was a little
higher, while marks made a new low.
There was little fir1ner tendency in
local montary conditions through the
requirements of the payments on the
Anglo-French notes. Call loans were
renewed at . instead Of ia per cent
and time accommodation was a trifle
higher.