New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-12
MARKET NEWS
AND COMMENT
Railroads Halt and War
Stocks Come Back in
Late Trading.
PRICES AT CLOSE
BELOW THE BEST
u. s. Steel Goes Higher-Autos
Firm-The List Of Active Is
sues Unusually Broad.

Railroads did not continue their ad-
vance long after yesterdays opening
and I'm the afternoon some OF the war
stocks took the bulk Of the trading,
making considerable gains. The car
riers. however. continued 10 attract .
good deal OF attention. and the DAY
business Of around 100000 shares "S
we'll distributed, the active list beng
probably the broadest ever seen. Al
the close prices were lrreguiariE
changed and below the best. Railroads
for the most part showed net clner-
ences only Of fractions.
The rise In railroad stocks to leVeIS
well above those at which heavy hquloa-
ton from Europe was expected M 3
brought on no important foreign sell
ing that could be detected. opening
gains indicated that from throughout
n, country the advance was bringing
TO large amount OF selling orders 10 the
mail Of the commission houses. Ifo-
fessional Wall Street, with a holiday III
view and some uncertainty over me
immediate course OF the war on we
other SIDE, was disposed 10 take prohts
and make some short commitments y
that. Reading, the only active railroad
iu which the decline reached any eN-
tont closed less than Q points dowr.
Canadian Pacific was particularly
strong. and New Haven continued lts
advance. holding part OF its gain ~
the end. ,,...
The unexpectedly large addition to
the untitled orders announced by the
Steel CORPORATION after Saturdays
close was not followed by any large
movement in the independent steel
companies or in allied concerns. United
States steel got up TO SO. AID closed
there. with a gain Of more than a point.
Baldwin Locomotive made another spec
tacular advance. and Car and Foundry,
WESTINGHOUSE and American Locomc-
tive went higher. The copper stocks
were firm early in the session. Som"
OF the dividend paying industrlals III
which little had been done OF late IN
proved. and toward the close the auto-
mobile group went higher.
The decision 10 recognize the Car
rama government benefited stocks Of
concerns with interests in Mexico. At
best. however. establishing a semblance
Of order IN that country Will only start
the rehabilitation necessary before ouf
millions invested there bring their
proper return. II we are actually 70
take our place among the nations thu
invest largely abroad our government
must support our investors with
greater vigilance than has been the
case in Mexico.
Preparations are being made for
starting a selling campaign such as this
generation has not seen after the Brit
ish Parliament accepts the terms OF the
Anglo-French loan. In the mean time,
while the credit is being awaited, there
is little purchasing Of exchange. Ster-
ling fell yesterday i 4.67h in the
pound for demand, the lowest in nearly
four weeks.
There was somewhat frmer ten
dency in the money market, though call
loans again were renewed at IA per
cent and made as low as 2. Stock
Exchange borrowers continued to pro-
vide themselves against emergency by
adding 10 their loans on time, and rates
for such accommodation were little
sitter Mercantile paper was quiet q,
a slight advance.