Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-12-09
NEW YORK STOCK LIST.
SLOW AND IRREGULAR
Market Hesitates on Superabundance
Of Peace Talk and Bumors
Which Encourage Bears.
Much of the Trading Centers in the
Specialties-Rails and Minor
1ndustrials Easier.


market acted tired, trading was within
narrow limits; now and then a bear
raid would check advancing tendency
and the taking of profits would stop in
turn the decline.
There is a superabundance of peace
talk in the air. That it is more than
talk is not generally believed, nor does
the street beieNs--the- statement that
the demands for fabrication for .Ameri-
can CONSUMPTION is sufficient to keep
the factories going as they are today
without war orders
Well informed traders do not hesitate
to declare that a long line of shorts
would be decidedly profitable, in the
event of an early peace.
While there were some gains in to-
days market, there were many recess
sions of comparatively little impor-
lance, the result of the mornings bust
ness being about a standon between
the bulls and the bears, that is, in the
leading speculative issues in the indus
trials, most of the minor stocks being
rather easier.
Another Bethlehem Jump.
Bethlehem Steel gave another exhibit
ton of long distance jumping when it
was unquestionably due to a statement
of the affairs of the corporation pub
lished by New York financial paper.
In this report it was stated:
"At a net profit of S. a shell Bethle-
hem would earn S50,000.000 in the first
ten months of next year on shells
alone, but as result of reduced costs
it is believed that earnings per share
will greatly exceed IS.
shipbuilding, steel rails and other
forms of high grade steel should per-
nit Bethlehem to show earnings in ex-
cess of s75.O00.0O 900 in 1916.
This would mean $500 shore, which,
including the $40 a share this year,
would be equivalent to 500 on the COM
mon.
Assuming that Bethlehem Steel
common is worth 5000 share in nor
NAL periods, a theoretical value of $50
can be placed on the common, COM
pared with the present selling price OF
about s47O.'
Little Change for Favorites.
The leading speculative favorites were
both higher and lower than on Wednesday
and they showed but little change either
way when net was considered. They were
higher early, broke, recovered and then
in the noon hour went back again.
The minor industrials were generally
easier and were less erratic in their
than the leaders.
Baldwin Locomotive opened at 116,
rose to III, broke to lis Is, rose to 115A
and back to HAN.
Crucible Steel was on q In the noon
hour weakness.
Studebaker sold at ITO to 173A, the
high, an advance of 37s points, went
back to 1874 and recovered to 1853, this
a loss of a point.
Steel common was quite active and
sharply from bear drive
that carried it to S6A, when it ad-
uanced to S7ss, but it lost the gain In
the noon weakness
The rails were about as slow as usual
Reading, Union Pacific, Chesapeake and
Ohio, New Haven and Southern Pacific
being y to " point lower.
Point to half point losses were seen
in many minor stocks. but they did not
go off with the leaders in later trading.
Play Market. Both Ways.
Trading from midway in the second
hour of the afternoon until the close
showed a material increase. Specu-
lators played the market both ways
and prices advanced and reacted with
frequency.
The bulk of the business was in
Steel and specialties. while the minor
industrials and rails were slow and
slightly lower.
Steel common was jumped by the bears
and yielded to S6R, net loss OF ",
and came back to nearly 81, but slightly
below the last price Of Wednesday.
Studebaker was active, breaking to
1861, or 3ta points. recovering to 1914
and losing a point.
Crucible Steel was off ~ at low and
fractionally. Westinghouse was
weak at rs decline.
The market continued irregular rght
UP to the close.