Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-24
STOCKS CLOSE STRONG,
WAR SHARES LEADING
Prices Advance Vigorously Under
the Leadership Of the
Steel Issues.
Bethlehem Makes New High Record.
Quality Of the Buying I'm
presses the Traders.

NEW YORK. July 2A-Pool opera
lions were encouraged by the reception
accorded the Presidents message in the
street and the fact that the outside
participation in the war specialties Is
expanding steadily. despite the sensa-
tional height to which prices Of many
Of these shares have risen.
Following out their we'll known pro-
cedure of singing out particular
Issue for effect on the entire group,
Bethlehem Steel was rushed up rapidly,
with more moderate advances in SIM
ilar shares.
Traders who had been fighting the
rise in the market were impressed by
the quality of the buying and bought
freely.
Electric Boat Touches $40.
TASTY proft-taking and a desire to
, alt enlightenment on the manner in
which the Presidents message will be
received at Berlin caused a reaction,
but there was a sharp upturn later.
Sensational buying of Electric Boat
In the outside" market sent 1t up
55 points to $40.
The closing was strong.
Bonds were steady.
Eject OF Note Discounted.
Effect of the American reply to the
German note had been discounted in
the markets action during the last
few days. so that although considered
drastic it had but little effect at the
opening of the stock exchange today.
Initial quotations were fractionally
irregular. Immediately following, prices
advanced vigorously under the leader
ship of United States Steel, Bethlehem
Steel, Crucible Steel. Westinghouse
Electric and Baldwin Locomotive
Bethlehem Steel improved s1s toI
2o91a. new high record. on rumors
of further large contracts.
Several other shares Appropriated
recent high levels. but pressure was
again applied to the Gould group.
Week of Spectacular Trading.
Spectacular trading in war share
marked the active week on the stock
exchange. with many new high records
in these issues. The extent of the deal
ings in these stocks was such as to
completely dwarf operations in other
parts of the list.
Proft-taking served to reduce quoted
values in most Of these specialties, but
the speculative mania promised to be
renewed unless held in bounds by pow
erful interests.
Meantime railroad stocks suffered
more or less severely. such issues as st.
Paul and Canadian Pacific making low
est prices in many years, while others,
particularly those in the southern and
southeastern territories. fell to quota
tons never before recorded.
Unreasoning Speculation Shown.
Altogether the weeks trading SAVIOR
Cd strongly Of unreasoning speculation.
although the break in the railway d.
vision seemed to have substantial basis
in doubtful dividend returnA
The international situation assumed a |
new phase by the forwarding Of the
governments latest note to Germany.
Industrial conditions as reflected in |
the increased production of leading |
steel mills and higher prices for their |
output show continued Improvement.
Await Steel Reports With Interest
Unusual interest attaches to the pub
hcation next Tuesday of the report of
the United States Steel Corporation for
the second quarter Of tho year.
The course OF steel shares. which re-
peated their best price of the year. was
accepted as a forerunner of this state
ment.
Metal shares showed a hesitant tend |
oncy on diminished demand for defined |
copper.