The Washington herald., 1915-09-23
STOCK ADVANCE
LED BY STEEL
Closing Prices Near Best and
Million Shares Were Sold
Yesterday.
HIDE AT HIGHEST PRICE
Westinghouse Active, Yet Spectators
Disappointed When 1t
Recedes,

New York, Sept. 90 Wall Street had a
rilior-Sharc day today that forced the
industrial shares to new high levels un-
Ger leadership of Stoci common. Buy
ing was aggressive throughout the ses-
sion, the volume Increasing rs the day
progressed. Closing prices We're near the
hest and general expectation among
traders was that the upward movement
would continue tomorrow.
Initial prices showed ON erriGht ad-
NarccS. Tha WesiinShOuse. American
Hide and leather. and American Can
We're most active. Heavy buying WIS re-
ported Tor inc account OF the West by
w.re houses. Toward noon there was Il
slight recession nn proiit-takIrS, but the
upward trend was renewed With ircrcas-
":i V:COr in the afternoon. St"el common
hcirg at the mead uf the advancing col
ANN anu toUchiHc the new high for
this movement of IS 81.
Reasons for Advances.
Trohers said the urgent demand for the
GarCs ind catCi short covering, especial
j. h. traders who have been trying to
catch the top of tn" present movement.
T. brokers who go deeper into reasons
To- movements, the advance in Steel
was attributed to continued buying by
the public owing to the tremendous bust
moss being done hy the corporation and
it. bright prospects.
strength Of foreign exchange also had
: favOrab bic influence. but the purchases
""r" said to l." i'll anticipation of an
other shipment "f gold from England.
RI" tremendous expansion in the odd
lot business is creating aSita tion for
some action that will result in better
market for odd lot spectators and in
N'StnrS. | ndor the present system the
odd lot buyer has to pay one eighth above
the market price and sells one-clGhth
under the market price prevailing at the
time his order is given for execution.
vi hen the many thousands Of shares that
arr purchased in odd lots are considered
in IL" aggregate this item amounts to
= trrm"NdOUs sum Stock cNchIng" aG-
in0rti"S claim that 4 reduction in the
unit of trading to ten shares would ne
CessiIatc th donhlimg OF the clerical
force In the commission houses and would
entail so much woIh u~ l." lnakr it I'M
practicable.
Statement Disappointing.
Action o. W~~iin4h"u.-r Electric stock
following the placing "l the shares nu 4
i pc crnr annual dix id~ud basis ara an
rUumrcrEcu thar war business on the
books to'aIl1i ~ .0uIt" was disappoint-i
I"E to SOM sp"ru'at"rs who had pur-
'l..t.s'd o. Tn. .-dal I,riicNin2. or rather!
} % in%. that iHr SEa1,- would follow tk"l
'ET:a!I,- of Nt.u Nu.a MIR Brake which
advanced ShaTfi- lrIiry:l"g in" an
""umc'mt at ro~:l.,t5n= is Wnr business.
When ih" dirrsru"~ action W. ;rnu".rl..rd
'h' stock Ir".t,G.
American IIlI,- ard I.rnthcr shares to-
day ,ourarl tn" h sn"-; i,,i'..s sine, the
!".Iiuui'i- q ,itr y t.. ru.. "nfnEron selling
at :" - aad ;H- il"icrrrd ri q II.
Runners w".'. cgurru. iL:,J n. directors
'"htynplnt"d paying III, hHra dividends
If about !u' i'cr cont on the iurI,rT,i bat
TINS IS 1901 even h"inS discussed according
lu member oI the board
Accumulation Of Eric shares was on -
faIr scale. ThcS" issues are expected 70
Tad the rails when III" latter become
:ctiTp