New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-09
MARKET NEWS
AND COMMENT
Irregular Net Changes
Drive at the Opening
Rally Follows.
SOME INDUSTRIALS
UP IN LAST HOUR
Automobile Issues Show Late
Strength-Copper Stocks
Little Changed.

Apprehension over our foreign affair.
again played some part in the security
market. The decision 20 demand sat
isfaction from Austria for the loss OF
American lives on the Aacona was rot
made public until after the close. L.
was the overnight report. aftcrward
denied, that the Standard Oh tank YES
sci Communipaw had been suak in the
Mediterranean that started the early
selling. When this was denied tho
short interest, which had furnished
practically all the early pressure, COW
cred its commitments and prices raj
lied. In the last hour there was some
advance in the war group with auto
mobile issues prominent
In the setback around the opening
the more speculative industrials were
the weakest, but in few instances did
losses amount 10 much more than
point. Railroads were comparatively
quiet and yielded little. The market
continued narrowly professional, COM
mission houses contributing little to
the early decline or TO the later deal
ings. Business, however. was on a
fairly good scale, more than 100000
shares changing hands during the day.
Final changes were generally small
and irregular. United States Steel got
down nearly to Sc, recovered more than
a point, and ended with gain Of
good fraction. General Motors rose to
a new high mark, a $40, up % points.
ii 10 q IA q
amount Of trading Wen up more than
10 points. Republic Iron and Steel and
Mercantile Marine preferred were par
ticularly favored and made gains OF
some extent Western Union improved
with announcement of an extra divi
dend. The copper stocks were not
greatly changed on the day. Increased
dividends on the porphyries, announced
at the close, had been expected for
some time.
Domestic news in addition 20 larger
industrial disbursements brought from
the steel trade report Of higher prices
for iron ore and a statement Of pig
iron production for November that sur
passed the record breaking daily rate
Of the month preceding. December
started with active capacity OF pig iron
furnaces over 100000 tons p day, but
il is expected that it will be impossible
TO keep all in blast, so great has been
the strain Of production. Steel making
iron is higher and foreign inquiry for
steel for munition purposes is being
renewed.
Improvement in our business affairs
has, however, failed Of late TO bring 20
the market that outside interest in
lack of which il tends to swing TO and
fro within narrow limits BROKERS' say
that some unusual development is
needed to start stocks in motion. Fa-
vorable domestic developments, even
some that have been unfavorable, they
point out, have been practically ignored.
Bad news from the other side, for as
our affairs are now being conducted
reverses for the Allies constitute bad
news, has done little more than TO
reduce the scale of trading So, as
they figure il, some favorable report
from abroad, such as an allied victory
or some diplomatic triumph might be
expected to furnish the enthusiasm now
wanting; but such news does not come
merely because the market needs 1t.
The local money market was practi-
cally unchanged, time accommodation
being perhaps less freely offered. Over
subscription of the Seaboa~d Air Line
bonds offered and the sale by the New
Haven of equipment trusts are further
signs of the supply Of funds seeking
desirable investment Sterling OK
change after opening 2 shade lower
rose again to Tuesdays high price of
7lE in the pound for demand, Some
mercantile requirements for meeting
end of the year payments are being felt
IN the foreign market.