Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-07-18
CRUC|BLE STEEL LEADS
ADVANCE IN WAR STOCKS
jumps to Front Early in Day and
Rises to New High Price
Of 81.
EXPLANATION is LACKING
Offices Of Company Are Silent as to
Causes Underlying Sudden Squirt
of Stock-Eo One Has Kind Word
for Railroads.
ny BROADAN WALL.

NEW YORK. July l7.-Sharp adj
vances in war stocks under leadership
OF Crucible Steel carried many OF tho
Industrial shares into new territory for
this movement Rails were heavy.
Southern Pacific again showing
dropping attitude.
The advance. which began late yes
terday. continued at the beginning OF
business to-day. gains of from a frac-
ton to a fun poin: SEEING witnessed
throughout the list. Crucible steel i'm
mediately jumped to the front. and on
active dealings rose to the new high
price Of 81 a gain OF more than S
points. AZ this level profit-taking re-
suited in drop to AZ. "a. recovery
20 1914 from which there was re-
ccssion OF lk points at the close.
Railroad shares were again under
pressure. nobody seeming 20 have a
good word for them. Southern Pa
ciic declined nearly point and re-
covered n fraction. Baltimore and Ohio
uas also slightly lower. as was Union
Pacific.
Following early strength there was
4 slight rccess!on. but the Gr,naI! for
the !ndus:rials contirued in the second
hour, the close being strong. with
gains OF from l TO points.
At one time Allis Chalmers issues
shared leadership with Crucibie Steel.
Expectation that the preferred stock
will begin per cent dividends in Sep
tcmber with payment on account OF
rear dividends furnished the incentive
for the buying Of these shares.
Although overshadowed BY the SEN
sational advances in the war stocks.
steel common moved up TO the new
high price for this movement OF s..
or point above the recent high es-
tabiishcd when the trust won it's suit.
No tangible reason for the strength
Of Crucible steel has been forthcom-
inE from the Offices OF the company.
When asked to-day II there vas any
semblance Of truth IN tho reports that
the company's new plants we're to cost
sec. 100000. the general manager. per-
maps vith silent diplomacy, said he did
not know.
SEW YORK July i!-s,oek: tndst n.
boon, In the spccialt,-s-many ~ "hich
we're carried to new high records VIZ. Elir>
brio. period cruciblc steel was again m.
MOI. .onsp,cuous fea,rr.; at:sncins I" =:
his elias. which touched quotations n.v-r
before .qualed. included Be,h!.hem Ste, ~
al: Bulduin Locomotive al 1Fs: American
can pre,.rred, a, !oi'., and General Motors
Npmrrous minor inNnstFials Nnth AZ ne
uphIiC steel and Iron common and rr"!nrr"d
Nos sheffield common. and .nis almers
y rrtictvrinE common and preferred. made
.tr'knr gains fairly large ahsorntion.
Ever. issue In the so-called industrial and
equipment divisions Of tho stock lis, "a- in
.-rnsnd
uni;.d states steel w.s nimc>, tn or,v
pne ri the former market leaders 10 take
~ ~ todays movement rising 10 s. .ts
'irhes, quotation OF tn. year, Trading in
N"rds was light with steady urdcr'one.
.'au.r, registered 5s advanced = per cent
on the call during the week
NV YORK. July l7.-Mercanuic paper,
r2,- per cent, Sterling sixty -d." h'ils
$40: demand. 1850. cables. HL7T. Bar
.ilNcr. ~. MeNican dollars. ast