The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1915-07-29
WAR ISSUES Go
TO HIGH MARKS
Bethlehem Steel Has Rise Of
y Points-Crucible Gains
1884 Points.
MILLION SHARES SOLD
Speculative Craze in Stocks Will Not
Stop After Brokers Warn
Customers.

New York. July 2S.-Standard rail-
road shares, which for about an hour
on Tuesday. surprised the Street by
advancing from > to points, were
relegated 10 the rear OF the stock
market today by another speculative
wave in the war stocks, which swept
several issues TO new high levels
Crucible was the star performer of the
day, closing with net advance OF
Is 3-4 points for the session, the final
price being the highest. Westinghouse
also made a new top. as did Bethle-
hem Steel, which rose % points TO
2C9.
Stocks We're strong at the opening.
steel common being a feature and hav-
ing wide opening from e5 ID TO 66.
in which 1000 shares changed hands,
thus rejecting the favorable impress
sion created by the quarterly state
menu of earnings. Wide openings also
occurred in 81 Paul and Union Pacific.
Climb to New Heights.
Immediately after the opening war
stocks were again taken in hand and
under leadership OF Bethlehem Steel
began their daily climb 10 new alti-
tVdes. Under their activity profit
taking appeared in the Standard rail-
roads and as the session progressed
they were comparatively neglected. In
the last hour, the railroads turned
weak. but the demand for the war
stocks continued right up TO the close
When the days business had been
transacted II was found that more
than a million shares had changed
hands. the greatest turnover since
May II
Commission house reported evidences
OF the public participating 10 larger
extent in the market. especially the
firms with Western Wire connections
The speculative craze in Cruciblc Steel
ard the resultant rise was the feature OF
the session. The rush I" buy the shares
was al its height when the market closed
But the speculative appetite being un-
appeased. dealings in the stock we're
transferred to the curb market. where.
after the close Of the stock exchange,
the issue was traded up to IS. Total
dealings in the stock on the exchange
amounted TO more than 10000 shares.
and as the company has only 245.1si
shares outstanding. the days business
was equal to more than 50 per cent of the
total stock outstanding
Customers InsiStent.
Buying OF Crucible was said to be
largely for the same Arm OF brokers that
started the rise in Bethlehem Steel. For
TINS reason many people who don't even
know the capita lization OF the company.
hut who are specializing in the shares.
say il will he a second Bethlehem Steel.
Brokers nave given up trying TO persuade
customers to keep out of Crucible. One
broker told a customer that he thought
the stock was ready TO break wide open.
and that the terrific space could not be
ma intaiaed. but the customer gently re-
minded him that he had also said that
about Bethlehem Steel when the stock
was about 2cN points lower
Floor traders who were short of Cruel
bile Stee! went home tonight hoping the
German submarines could become active
again so that they could cover without
having Through the nose.
Investors are receiving better attention
at the General Electric Company. 1t
was reported today that the company
had received an order for sS.0U,ooo OF
shrapnel and explosives. but il was au-
thoritativCly learned that the order is for
less than one-third Of this amount. 1t
was also stated that on.y about per
cent Of the concerns employees are work
ing on war orders General Electric
stock was strong and rose : - Joints.