The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-22
REPORTED ORDERS
SEND WAR STOCKS
UP IN WILD RUSH
Electric Boat Advances So
Observation-Disclosures and
Can Hit New Highs.
UIGE PROFITS TALKED
or FOR MANY PLANTS

l.liiong rush for war order"
ga. 10 which trading in American
c,o Westinghouse and United states
s,ec, ovcrtopped the 100000 share count
rst,l Yesterday, marked another period
: tho terrific speculation that has
.-l,k Wall street at intervals since the
n,ac.nr of huge orders FOR war munitions
began.
Tho sudden jump OF Westinghouse to
, new high record. the huge volume OF
i-aalue In Can. which also reached a
new high. the crossing of the 200 mark
hv Bethlehem steel to the new high Of
,Oi, made the floor of the Stock Exchange
ne centre Of big interest In the re-
neved procession OF the war stocks. But
Tho mos, sensational event of the day
was out on the curb. There a stock
which a year ago had barely dragged
out an existence around Is. Electric
Boat. a company which two years ago
vas nearly bankrupt and which sold
a; 81 at the beginning OF this year.
Jumped SO points in the day, reaching
The new high Of 2is and closing at
1855. The leap was accompanied by sto-
-i~ that the British Government was
about 20 place another order for 500
sp.ed launches to fight submarines. max
Ing the total orders TO come to the
company 100000, 900.
Wall Street did not stop TO question
or even find out how near the truth the
stories Of great orders and huge pronts
we're. II bought stocks. and prices. al
ready looked upon by conservatives as
,~bnormally high. did not deter buyers In
the least.
Westinghouse was the most ~spectacu-
lar performance on the Stock Exchange.
The stock had been strong all day. Sud-
denly in the last half hour of trading
Il began 10 shoot up. In the hnal few
minutes II rushed through its previous
high Of los to the record high OF ll0i2.
closing a point lower. American Can
was the other big thing of the day, in
volume OF trading exceeding everything
else on the list. Westinghouse being a
half share stock. Can went to 5Sss
a new high in It's history. on the basis
o. belief that a contract for huge orders
for shells. said to amount at least to
S3s, 900, 900. was awaiting the final sig
nature Of the highest authority in the
British war munitions purchase depart
msnt.
All War stocks jump.
All the other war stocks had sironE
advances. Baldwin Locomotive pushinS
thr,,ph sfG py.Ntpug hiph NJ .1l. IN "a
.Nlis-Chalmers touching A new high al
Eis. Bethlehem going to goa, Genera
Motors to 1SI, Studebaker to S3a.. new
highs. and CruClble recovering So points
of It's sudden fall of the previous two
days at the high OF yesterday. The
steel stocks which are not SO prominen,
for war orders shared the advance
United States Steel. Colorado Fuel and
Republic Iron and Steel being in large
demand.
The rise in the war stocks has beer
. phenomenon in Wal Street, because
& has continued under several la,
sHocks. The speculation has been so
great hat there are two almost hostile
camps in Wall Street, split on these
socks. one party believes that the rise
i almost entirely artificial and baseo
IN fake reports of great orders. the or
ders being in part true but the profits
beng many times oVerestimated. TIL,
extremes OF the opposite camp hold tina
tne big advance has only just begun
Among bankers who know the sltua.
ton 1t IL said that nothing like the
PROFITS that are in sight on the war or.
ders OF bona iidc placing has been ex-
pertenced I'm this country FOR many years
Not all of the companies filling wal
orders are sure OF big profits. Sorns
contracts are farmed out from Other
companies at only moderate profits
Those companies, however, which havt
feceived their orders direct from the
foreign Governments concerned. and par.
flcularly those which have insisted he.
lore undertaking the work that they bs
guaranteed In price for the Initial eN.
iense OF new establishments and fac.
tories. are, in the opinion of hnancia
men who know the contracts. sure O
huge profits.
Huge PrORts Expected.
II was stated yesterday In authorita.
I'VE circles that on orders of this kin
The companies are expecting profits tina,
are c~onservatively estimated at from II
70 bO per cent. with 80 to 100 per cent
not impossible in special cases. The
fronts are reckoned to be so big tina
companies like Bethlehem. Westinghouse
thd Baldwin of the prominent Stool
fNcnange issues are expected to max,
IN one or one and a half years whar
'hey would ordinary require from five
,o ten years to make. In the case oi
Westinghouse. for instance, the profit,
IN sight from orders now placed and
'hose expected are being depended or
10 enable the company to get rid OF a
ss"'oO0, 900 bon issue through CONVEX.
e'oil INTO stock, the company taking ad,
Vantage OF the big emand for its STOCK
put out the conversion privilege.
me rush for war stocks has carried
VIVA II serious warnings from banker.
% oFerspeculation and its consequen
t'asnts, The colla pse Of Crucible Stee
.N " occa 1ions, that in American Goa
Froduc's from its high of l70i3 to ii,
present price OF 1919 and in Fedora
,l'nng from tho high Of 60 TO 81 havt
~eh not without tteir warnings.
The advances scored.
TIE following list shows the advances
IN SOM Of tho prominent industrials OF
We stock Exchange
Closing
price