Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-19
TURNOVER OF MILLION
SHARES IN ACTIVE DAY
Stock Market Has Another Strong
Session, With lnduStrials
in Lead.
STEEL CONTINUES TO SOAR
Common Again Reaches Highest
Point Since 1912, and It's
Strength Imparts Confidence and
Tone to Remainder of List.
BY nRoADAN WALL.

NEW YORK, August lS.-With a
turnover of more than 100000 shares.
the stock market had another strong
session to-day. activity ana strength
being pronounced rs heretofore in the
being made, steel moved TO the high
est price il has sold nj since 1912, and
its strength impaired confidence in the
stability OF the industrial department.
The railroad shares continued to drop
and closed with fractional losses as
against the gains recorded ny the in
dustrials Reading was the chief suf-
ferer among the rails and lost more
than point. The conservative brokers
continue to advise purchases OF the
high class rails but the market indi-
Gates that their customers turn deaf
10 this advice
With the exception OF the railroads
initial prices We're higher. During the
early trading several new low priced
industrials appeared as leaders prom
inent among these being American
much realizing. but offerings were
taken at recessions which Went far
best figure When all offerings we're
absorbed the market recovered The
close was strong.
Copper shares displayed signs of re-
provcment in the metal market, large
quantities OF copper being reported
sold by several companies TO Europe.
Although copper is quoted AZ y IL
cents a Found. the technical condition
OF tie market is said TO he in better
condition than for month Inspira-
i fast assuming its proper position in
The group Its strength is due to the
facts recently enumerated in this col
ann when the stock was selling about
> points under its present quotations.
Increased selling of American securt- /
Ties by the English is reflected IN the
houses, and this probably explains the
heaviress Of the railroads to-day. With
'he :7dustrials daily touching new high
prices and with the railroads doing very
INK The scale Of some of his America
securities would undouhtedly be more
likely = sell the rails.
Owing % re depreciation in francs |
= number ~ American corporations. |
whose stocks to a substantial extent /
are held by Tire French, have been ask !
e-s 20 -enli, their dividends in Ameri- !
car dollars instead o: francs as has |
been done in the past Several of the !
companies have compiled with this re- |
weston. where francs have deprecated |
= nouc : per cent. the change in the me-
dium ~ PAYMENT amounts 10 n consid- |
Tennessee .coppe,r sold At the highest
Although the company is rapidly be-
thar copper concern. tho improve-
ment n the metal market helped its
shares.
Nsw YORK Angus, ,s-s,ocks pur=nei
heir ,emili9, course. ,oa9y. TIC so.collet |
sors.rE the hulk ~ speculative attention 10 |
tn" exclusion of investment shares which |
10; " liner r:aC,ton.ry or t5r.rn,er, IIuiiys
sh ares consisted Of United States Steel |
wr!ch made tho new high price 80. for the |
present movement together With W"s,'rF |
noEse' American Cnn. Crucihle Steel Nav |
York AIR Brake and the Airs Chalmers Is
sues
There were some highly crrat.c move.
m"nts in others Of this group. Bethlehem
Steei recording IN early decline Of .iis from |
when II later rose almost ~ points. Som. |
q! The better known !ndustrials were lesisteI |
10y receipt % further large foreign orders !
dealings in railways were negligible. tho
Rock Island and Pacific Railway. which rose !
? points probably ON the arraignncni Of |
the commerce commission against the old |
Rock Island Company, thereby oher!nE hope
o! restitution suits.
Mos' Of N" high PRICED transportation
the heavier tone Of Americans abroad |
i.onIo" again sold American stocks and |
oon"f here offerings OF the latter secur-
ues being accepted as natural coroiary
OF the tense exchange situation
ENchange rates on the principal Euron.ar |
'eHters .NenTthcncd decidedly. hrt failed To- !
grained arrangements are in progress OF
completion for establishment OF british ami
French credits here
The bond market lower in tho main
as and The copper convertible issues.
call! - ""
5'.T5'. sterling. siNty-day bills sac: 10. !
mHNG, ti"f'f, cables. Hs-l. RAJ 81, or