The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-17
FINANCIAL NEWS
AND COMMENT
Stocks Develop Features of
Strength in Many
Directions.
COPPER ISSUES LEAD
COPPER ISSUES
LEAD

"i NtN - sS'''-
selves distinctly in yesterdays market.
with leadership and interest III quarters
,uits different from those which have
occupied Wall Street attention most OF
the year. Transactions aggregated about
n million shares, n tho significant CIR.
~cufrstance In this recovery OF volumes
was that activity seemed TO be ~timu-
lated by rising prices. Copper issues
w~re the largeat group 70 figure in the
features Of strength. but there were
various descriptions. which advanced
extensively and buoyantiy In . fashion
calculated to satisfy speculative appe-
t,ses whetted by tho spectacular per
fornances OF III war stocks In recent
montha
The pronounced speculative strength In
issues outside the former war stock ia
vo1tes, under vigorous II somewhat
concentrated buying, took the rrofes-
sionei trading community by surprt-o
TIE action Of tho market In reversing
Mondays r~eact,onary trend was quite
contrary 10 professional anticipation and
at tho outset of tine session a selling dis
position Was manifested. Throughout The
day there were portions Of tfe list which
! were subjected TO pressure for both 40
counts. but only IN sors OF tho more
familiar war StocNs u there any
symptom Of underlying hcav1nera- and
| sven in the list Of wal shares there were
strong members, while an entirely new
wal stock made an emphatic bid for no
t,ce whom tho International MercAnd1e
Marine preferred certificates climbed
steadily on heavy Absorption.
Cuban American sugar was another
speciality which showed Wall Street that
| the effect Of influence a. work this yeas
WIS not confined 70 the cerporatSons
caAalogucd as manufacturer OF war
supplies. Toward the end OF the day
there was AT outburst OF buying IN the
oil shares which sweep rapidly upward
under the leadership OF Texas Company,
a demonstration which was apparently a
response 10 tho strength that has re-
Gently been Chavecterizing the oil stocks
In the outside market. Rails were quiet
and firm. with some suggestion Of per
slsteut accumulation. Selling OF United
states Steel served perhaps TO hold the
general market IN check. but these sales
bore no obvious relation TO business
conditions and encountered An excellen,
demand
II was IN tho copper stocks. however.
that the chief interest Of the day CEN
tired. Practically all the copper shares
and related issues acted rs the war
stocks acted not so long ago. Il fact
which inspired the recollection that cop
per descriptions were the original Wal
stocks, The rise In tire metal to ~
cents, together with the great demand
for supplies with which producers are
now meeting. vas reflected IN the fun
Their sharp advance OF the copper metal
group from u level which WAS no: eX-
actly tpw 70 begin With. Leader IN the
iroyeme-t We're Anaconda, Titan ard
Guggcah-.rl- Exploration and tue dem
orstra:ion IN this group vas acroinpa-
med by fairly doiini'e ruinors of pend
ing ~real!gnments of copper properties
and producing interests. Accounting t.
re0ort projects under consideration were
based not ony On IN" market which The
war has provided for the metal but or
expectations that after the war cope,
consumption viii ho a DISTINGUISHING
feature ~ the new era OF Construction.
C~autiout-y considerations did MOI
snorr ~ enter very largely TITO ~.
speculative reckoning War advice
aho-t events ~ tho Balkan urea were
regarded Pa 200 urrolilhlo 20 Warrant
GLscGsSiog. Moreover. Wa. Street's
mood seemed 20 bc one of iuCiiratipn e
consider chiefly III. strength wh~h OIL,
financial e1d business conditions hay.
established during the war and on ac-
C"H't % II, conditions which are ~,
whore mor- significantly reflected thar
an tn" vast improvement Of TIE bon,
market this autumn.
The withdrawal ri STEAMSHIPS FOR nil,
'arE purpos"s cp''.nues. hut M cxpo!'
tr,tur lnuVcuIr3 has no. tlfi. red o.,
V4udsly as 81. LIST W.,k'4 cAi,ort IA.
aTce, 'is,ioo .n0o. was one Of the largc~
AZ tho year. At tho same tirnc Il e.
worth rotlnC hat sterling exchange /.
now showing sustained strength rather
than rccurront weakness. There ca.
lie 80 question that tie arrang-nent
OF crcdI, Tor London have passed. IA,
sag" Of NEGOTIATIONS and that III,
credits themselves have begun To entc,
INTO tire exchange market W~Drkiu-s