Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-10-20
Steel Common Leads.

Steel common was clearly the leader
of the list again. indeed, it showed more
latent strength than the other indus.
trials and the war specialties. Every
one seems to be bullish on Steel com.
mon and the talk of dividends Is gen.
eral, with division of opinion as to the
probability of a distribution before
January.
Directors of the Steel Corporation
are expected to meet next Tuesday
and there are those who think that the
common stock may be given a divi-
dend at that time, although the con-
sensus Of opinion is that 1t will not
come until January, when. by reason OF
great earnings, the position Of the cor
poration will be at its very best. Ad-
vocates Of a dividend at this time hold
that there would be decrease in for
eign selling II it was declared.
Richmond announces that the Steel
Corporation has obtained, through a
group of financial men. an option on
the Tredegar iron works plant, which
is to be used for manufacturing num-
tions. The price to be paid is said to
be about 100000.
Baldwin on Decline.
On the decline Baldwin Locomotive
one of the greatest favorites In the
war group, dropped from 1876 to 1907
low 91H.
With diminishing profits in sight
traders turned their attention to gath
ering them in and helped along the
liquidation.
The rails. although having made nc
gains in comparison with the indus
trials, turned weak with them and all
gains were lost.
New Haven, Northern Pacific and
Great Northern. as well as Canadian
Pacific, sustained point losses, while
other rails lost fractionally.
Rally on Steel Common.
was checked. and entering the second
hour of the afternoon many stocks
moved upward sharply. rallying around
Steel common, which touched its new
high at S6% or " point net advance
for the session to this time.
Friends of Baldwin Locomotive took
it in hand and advanced the price
sharply from the low of the weak spell
1907 to 1913. a net gain of u. and
Crucible Steel came with 1t to 93N. a
fractional gain.
The entire list did not follow the
lead. but the liquidation was apparent
ly checked, and the volume of business
became materially lighter
Reading and Union Pacific recovered
their losses.
In the specialties Industrial Alcohol
gained better than a point. Inspira-
| tion Copper moved up to ASH as COM
pared with a close at 43H yesterday
Distillers' Securities gained points
Linseed OIL 2 points and Colorado Fuel
was firmer.
New Highs for Bethlehem.
| Bethlehem Steel touched new high.
again today when it sold at sos, SIG
and later SIS.
Studebaker was another leader. II
closed yesterday at 1Ss. opened at 172h
dropped back below yesterdays final
and came strong to 174%. or SIX net
gain.
While the market was more or less
cratic in the late trading. the indi-
cations were that the last hour would
show less pressure.
Closing Is Lower.
In the final hour the market main.
tanned it's erratic course. liquidation
breaking out anew in spots and much
Of the later recoveries in specialties
was lost.
Business slowed down toward the end
of the session
The cratic fluctuations OF the day re.
quired actual ciosings, as shown by the
list. to mark the gains and losses, for
there were many OF both.