South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-12-04
TRADING LIGHT;
PRICES STRONG
Standard Issues Gain a Point
While SpeCiaItieS Go
Up Five.
BY Broadan Wall

NEW YORK, Dec. 4. - Although
somewhat less active. the stock
market was strong Friday. stand
ard issues rose an average Of a point
while specialties advanced from one
to FIVE points. Commission houses
reported a slight volume OF buying,
but the rise in values was largely at
tributed TO the covering Of profess
SIGNALS. One report on the floor was
that bernard NJ. Baruch covered a
line Of shorts but this received very
little credence.
Thursdays weakness extended 10
Fridays opening prices showing
slight declines. The lower level
drew out buying orders that quickly
caused a rally. Toward the end OF
the first hour there was a slight re-
cessiOn. but the upward movement
was resumed in the second nOur and
given added impetus in the early aft
ernoon. Closing prices were only
slightly under the best.
The presidents message which
was given so much prominence IN
the reasons for Wednesdays and
Thursdays decline seemed TO have
been forgotten with the uplift in
prices.
News essential in the making Of
security prices continues favorable in
the shape of increased railroad
earnings. reports Of business inn
provement and cheap money. Com
mission houses. however do not ex-
pect much activity unless quotations
move up for. Notwithstanding the
favorable conditions they say expert
ence has shown that customers do
not act until the market shows dis
tinct signs Of strength. For this
reason they look for a greater vol
ume of orders on the buying side
with any further rise in quotations.
Active trading i'm United Fruit
stock with a wide range Of 9 -
points between the low and high
prices attracted attention. Early in
the day the stock rose 8 - points,
but in the afternoon dropped from
159 1a2 20 $50 Notwithstanding the
balance of the list was rising.
Just after the close the reason for
the decline was made public in an
announcement that the company is
planning 10 sell about $12,OOO,O0O
par OF new stock at 100 10 share
holders and retire $4,000. 900 at six
per cent notes due in 1917. Selling
was said TO be largely for the ac-
count Of Boston interests who were
dispssing Of some Of theirs in antici-
patton OF subscribing TO the new
shares. Expert statisticians figured
today that the rights" TO subscribe
20 the new shares would be Orth
approximately So a share.
War stocks participated in the re-
bound in market prices but nothing
like weeks ago when public specula-
ton was heavy. Bethlehem Steel
rose Is points. The initial sale was
10 shares at 455, a decline of Is
points followed by 100 shares at $50.
then 100 at 452. ice at 46O and
closed with 100 shares at AIS.
international Nickel came in for
comment when 1t rose eight points
on purchases by persons who be-
lieve that as a stock paying 20 per
cent in dividends annually il should
sell higher 20 be in line with the
yield OF other investment issues.
Within the last week there has been
some prohibiting in the stock by
persons who bought the shares at
much lower prices. but the offerings
were readily absorbed.
Railroad earnings were favorable
gross increase of $4T7,1S3 and net
increase Of $GO4.S97. Canadian
Pacific gross for the fourth week OF
November gained S1.796.OOO. making
the gross expansion for the month
of S5.3O9. 600. New Haven also re-
ported a gross increase Of $500. coo
for October.
Commission houses reported a
good demand for the copper shares.
American Smelling was the most ac-
tive OF this group with Anaconda
second and Inspiration third The
latter was in especial demand dur
ing the forenoon. Chile Copper also
did better.
Southern Pacific was bought on
revived rumors that syndicate con-
templated buying Pennsylvania
holdings OF Southern Pacific
\ better tone was displayed i'm
high grade bonds. Notwithstanding
that investment bankers declare that
the foreign offerings of boris are
showing "a tendency 60 grow in
volume.