The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-10
FINANCIAL NEWS
AND COMMENT
Fairly General Advance Here
in stocks, With Increased
Irrcgularity.
L. s. STEEL AT NEW HIGH

Another fairly general rise occurred In
1 the stock market yesterday, although
' the irregularity OF the market Increased.
The buying. especially Of a number or
the prominent war stocks, was more re-
strained than last week. In this respect
the market offered a more normal and
orderly appearance. The leadership of
Steel common. which went to a new high
mark OF 74ai, and the continuance OF a
good inquiry for the standard rails. en-
couraged sentiment where the concen-
tration OF activity in a limited number
OF the Industrial shares had caused
much misgiving as being utterly alb
normal.
There was again a shifting OF specu'a-
tive interest In the "a stocks. New
features came TO the front. In the
favorites of last week heavy proht TAX
ing was under way. Some sctbacks oc-
Cured. but there was no development OF
positive weakness.
The slackening OF the buying move
ment may indicate that technical con
ditjon favor something of "A reaction.
, although that Is not the same thing a.
saving that a reaction IL inevitable. The
speculative position might be strength
ened by a period OF quiet without any
great change In prices from these levels
or by an irresistible wave OF OUTSIDE
buying. But whatever the outcome.
there il no doubt Of a greatly increased
publlc interest In Steeel common. for
instance. as well as "A forced retirement
nj least of short contracts of the surface
kind. -.
a disposition 10 await the outcome or
certain important developments whlch
have evidently been made the OBJECTIVE
of speculative buying may also account
10 some extent for the reduced scale OF
activity. The Government August crop
rapor,. the steel tonnage statement
On no publlshed to-day, the situation IN
dictated by yesterdaS = diop III s'e
,o a new low record and the inanclai
and other problems raised by the Mex
loan question are all matters that mlsht
cause a certain amount OF hesitation
In regard to tho crop report. the
' Government figures issued CURING tl,e
course OF the afternoon were hlghis
satisfactory. A total wheat production
OF 966, 900. 900 bushels Is Indicated
which. considering all the talk OF un-
favorable weather. was som.thin@ ~
a surnrlse. The prospect for corn also
is only a little less than the most eN-
IRENE estimates or the trace.
oDllinlStlt TtIpiN' ''N''
=. dus,ry continued 10 come IN and some
OF the most enthusiastic predictions re-
sarding the statistics of untitled ousi-
ness OF the Steel Corporation are Tor
an increase for the month as mig
as 800. 900 tons. A much smaller snow
ing than this. however. would UNI
doub,edly be considered highly favor
able. The renewed drop in exchange
will tend to hasten the efforts on the
mar, of the bankers here and abroad
TO solve the question Of bringing ADJUST
ment. Perhaps important Developments
in this direction may be looked Tor
soon.
The news that the Canadian PACING
Railway Company had declared the
usual dividend on The stock was not re-
ceived until after the close of the mar
ket. II aroused n good deal OF I'M
favorable criticism. in view OF the tre-
mendous falling on in the conpanys
earnings, and was freely commented
upon as unjustified and unreasonable
In view of the position that Canadian
Pacific Railway Company stock occupies
in the investment market in tanada
and abroad. IL may b. asked whether
the paymen OF the regular dividend
at this time Is not 10 be regarded in
the nature OF "A war measure rather than
dictated by the policy OF the corpora
ton in normal times.