South Bend news-times., 1915-07-02
RECOVERIES ARE
SHOWN BY stocks
Market Opens Generally Below
the Previous Close as a Re-
suit of TOrpedOing of the
Armenian.
BY BrOadan Wall.

NEW YORK, July 2.-On the Ar
menian" news stocks Thursday opened
generally below the previous close, but
in the later trading there were minor
recoveries on very light dealings.
Two-fifths &C IN lays business was
done In the first oar so that the dull
ness which ensl ed may be imagined.
War issues were the steadiest at the
opening, but sails were off, Union Pa
eitlc 5S and Reading IL. Miami.
which was exceptionally active and
strong all day, opened up a half but
the rest of the cOppers lost fraction
ally with Amalgamated down "a.
Smelters and Mexican Pet showed
the biggest initiative losses 1 ia and
-, respectively.
BY mid-afteTnOon the list did not
sag much under opening prices Steel
| remained within a range of 1-2 a
point. 1t would seem possible de-
clines in Steel on moderate foreign
liquidation are being offset by the ex-
cellent outlook in the steel industry.
War order talk is being used To the
utmost to boom American Can, which
led in activity. That stock began at
40 IA, ran down 10 A 1-2, recovered
to 46 5-S by 1880 and closed at 46,
net gain of Is
After o'clock the United States
Rubber board announced news that
satisfied the glOomiest hopes of the
common stockholders by passing tne
current quarterly dividend of 1-2 per
cent. While the explanation by Pres't
Colt seems plausible enough, it hardly
serves as a clarification for the stocks
actions on the stock exchange lately.
SomebOdy-nOt the general public
had wind of the radical move just
made public. But the smell of burn
IA
ed 10 the bitter taste left in the mouths
OF the company's 5000 common share
holders Rubber present reputation in
commission house circles is none too
savOry.
American Coal Products rose 10
points to 123 and closed nearly five
points. 1t is understood a big stock
| holder recently gave an option at
par on 5000 shares To group Of
/ bankers. The stock then went prompt
~ below par for effect In the mean
time the insider suffered a change of
heart. realizing that his holdings
were worth more than 100, and with
drew his offer TO sell. When the news
that he had WEIGHED became known,
the stock rose sharply on limited
transactions. The company is making
good profits and earnings are esti-
mated at an annual rate of 20 per
cent
The announcement by the governors
/ of the stock exchange that there would
/ be a session on Saturday was a disap-
7 pointment only To the 50 brokers on
7 the floor the employees on the eX-
I change and in brokerage offices. Wig
OrOus protests from the wire houses
and from the association of Stock EN-
change partners against closing ac-
count for the action taken.
Stocks of companies about TO be re-
4 organized are hitting new low prices.
I News that Rumely preferred share
hClderS will be assessed S11 share
and the common SIS a share sent the
! former stock down 10 1-2 and the
latter to SIS, compared with previ-
Gus closing prices OF II is and { is.
I This year the common has SCid as low
as 1-S and the preferred IL. Mis-
souri, Pacific. whose readjustment
plan VIII be announced early next
+ week declined to IA. or is under
+ the lowest price in the history of the
f system. Wabash Pittsburgh Terminal
I first mortgage bondholders who face
/ n S300 assessment per $1,000 bond
i saw their issue sell for $1O.S7 1-2 to-
I day
/ Bond4iquidation for foreign account
/ Thursday. both on the exchange and
I I'm the outside market was the light
est this week totaling about half Of
the volume on wednesday. Pressure
I from abroad. however. IL expected TO
continue until the lists for the Brit
[ ish loans are closed in the middle Of