New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-09
MARKET NEWS
AND COMMENT
Speculation Shifted Into
Railroads - Reading
Leads the List.
WAR STOCKS QUlETER
IN LATE TRADING
Standard Carriers in Afternoon
Raised TO High Levels of
Year on Brisk Trading.

Speeulation made the promised shift
into the railroad stocks yesterday al
ternoor. While war contract ana mef-
ger stocks fell back under proht taxing,
standard railroads rose IN such trad
ing as has not been seen IN TINS part
Of the list for months. Reading went
hack 10 It's old place as market leader,
over 10000 shares changing nands'
and closed more than points higher.
Elsewhere among the carriers gains
were Of smaller proportions. but ad-
vanoes Of !, and 3 points were com
mon.
Timed as II was. when the indus
trial favortes were quietlng down and
showing a tendency to sag under realiz-
ing. this movement was obviously a
professional one. Yet. while the rail-
roads have been so generally passed
over in the trading that has carried
industrials 20 heights previously IN
heard Of. there have been accumulatlng
behind them sources Of strength that
may bring in public buying and carry
further what yesterday began.
As in the upturn Of two weeks ago,
the supply Of foreign holdings, that have
been understood 10 be ready 20 meet
any important advance with FOOD
Since the advance Of two Saturdays
back the railroad list has held fairly
we'll receding little in the wild uprush
and fan Of the war stocks. Yesterdays
rise carried some 70 their best for the
year.
Railroad traffic has been growing in
manufacturing districts and the de
lsved grain movement e larger. For
the week ended Thursday our ship
ments Of wheat and -four were the larg-
est Of the current season. Generally
domestic commercial conditions are re
ported better than for some time, with
prospects Of good business ahead. 80
large employment Of railroad equip
ment that car shortages may cause
trouble is not improbable. Gross re-
CENTS OF the carriers so far reported
for September are better than for last
wear and mako improved comparison
with those Of the busy season two
wears before. How far all this Will
induce the public to follow yesterdays
lead remains to be manifested.
Other neglected issues were firm yes
to-day. The copper stocks did well and
fractions improved United States
Steel on a fair volume Of activity, GOT
up above 81, but ended under that fig-
ure. with fractional gain. In the
forenoon ordnance and equipment
stocks followed some overnight gains
of point or more with further I'M
movement. but Friday realizing was
heavy and prices weakened. At the END
OF the day they were up from their
lowest and not much under Thursdays
close.
In spite Of this change In the nature
Of the trading, business was reduced IN
no great amount from that Of the day
before. a total Of upward OF 1,3OO,OOo
shares making the tenth consecutive
FULL session on which more than mill
ion shares had changed hands. In
bonds dealings were again above 3d.
OO0. 600. Convertible railroad Issues
moved with stocks and there was
noticeable frmness in many OF the un-
deriving investment obligations.
According to predictions from
known currency movements local man
cial institutions are expected to show
a Gain of around s2,500,O0O on the
week. Call loans renewed over the
week end at IA per cent, while hxeG
date funds on stock market collateral
we're a little frmer for the longer ma,
turtles. Quick purchase of railroad
note issue told OF the continued de-
mand for short term investment OF idle
funds.