Evening star., 1915-11-08

complete elimination from the trading
radius marked this or that stock.
Some of the best market judges seen
to believe that the public has the
| stocks, and that after years of wait
ing New York has unloaded its burder
and will seek lower prices before tax
| ing back the shares.
| There were those who thought the
| same thing weeks ago and the puollt
demonstrated its ability to run away
with the market until the banks put or
| the thumbscrews of awful margin de-
mands, against which there was no re
course except to take up stocks ane
pay for them.
War Stocks Less Favored.
War stocks have been less favored ant
at the opening today looked decidedly
weak. 1t becomes more and more ap.
parent that the contracts that have
been let for munitions have not allowed
200 per cent profits to be tackled on Oh
| anything like it. Moreover, there is al.
ways the possibility of contracts being
Cancelled or relvery made impossible
| All peace talk seems but a waste o.
| efforts; indeed, positive information was
received today of contracts for car
tridges for delivery in 1918, but the
glamour is gone and it can not be pu
on the stocks again.
| ciines, these in turn late in the mrs.
hour being attended with recoverie:
which reached considerable proper
tions, in many instances good net gains
up to 11:45 am, when there was an.
other weak spell and reactionary losse:
were sustained.
| These changes in prices were rather
sharp and were hard to follow, no definite
trend being established save during one
| hour following 10 As am, Whlle acti'lty
i toan
Recovery in War Shares.
| The recovery in .f1is hour was decidedly
sharn war stocks sharing with rails, cop
per and equipment shares.
The show of strength was surprising
and the war shares were just as strong
as anything else.
| Studebaker was a leader in irregularity
! openine at 1924, dropping y, then turn
ing for a rally to 167, with " reaction
| Maxwell Motors, weak after the open
ing for loss of PA points to IS. rallied
i to 17OA and reacted to ITO.
| Baldwin Locomotive opened with 3.
point loss, recovered this and 21z net gair
| in addition, with reaction at noon te
c; crucible Steel, weak at the opening
gained 21. and held " Of the better
ment.
The demand for standard issues alsc
improved after the second hour. but for
every rally there seemed reaction moi
sufficient to wipe out the gain.
| Canadian Pacific lost point, turned
! at 1872 and rose rapidly to 137A and fell
| back point.
Gains In the Rails.
| Gains in the rails included b on Erie
q on Northern Pacific. Great Northern
Pennsylvania. Chesapeake and Ohio
Norfolk and Western and st. Paul:
| points on Reading. l y on Southern Pa
cific and * on Union Pacific. while Del
aware and Hudson made a sensational
| Improvement of points to 235 from a
closing at 226 Saturday.
Steel common gained "a net. Loco
motive was up 3 points and fractional
| to 2-point gains were made In many
minor industrialG, with United Fruit
! points up TO 146, Sugar points up and
| Coppers, Beet Sugar and international
Mercantile Marine all strong.
| The rally in the list seemed to check
| slow.
War Stocks in Rally.
In the early hours of the afternoon
the war shares again resumed the
|
made.
| Apparently the market followers took
! the bit in their teeth and advanced
prices Irrespective of the views of the
New York insiders.
! Maxwell Motors, CFucible Steel and
Baldwin Locomotive. the weaklinas OF
the first hour, were the leaders.
| Maxwell rose to 1871, net gain OF
over 5 points: Crucible touched SOA. a
6-point rise, and went back to II. while
| Goodrich Company. IA higher, anc
Studebaker, which was slow, held its
morning betterment.
| Further gains were made in copper:
and many minor industrials.
| The rails seemed less active, holding
part Of their advances
RecessionS Near Close.
There was a general trend toward re-
cessions i'll the final hour, that extend
ed throughout the trading list 1t may
have been due largely to profit taking
The war stocks did not lose all OF
! their gains, but advances were ma
terially reduced. Studebaker going
back 3 poiats, Maxwell Motors ! y and
Baldwin Locomotive. which displayed
more weakness than other specialties
| lost its entire gain and two points in
addition, receding points from high.
| Crucible Steel held a good gain. In
! the minor industrials, Car Foundry was
decidedly weak in the last hour. The
| coppers were steady.
Reading was the weak sister in the
rails. losing all its advance, as Nor
| folk and Western and Canadian Pacific
held but ] u point advance. Other rails
were reasonably steady.
| Union Pacific was soft. Steel common
went back TO Saturdays closing.