South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-04-16
Investments ARE
MUCH IN DEMAND
Wall st. Enjoys Another Busy
Day, With Considerable Sell
ING Pressure From London
Seat Prices Are High.


NEW YORK. April 16. - Another
day OF tumultuOus trading. broad buy
ing movements, sweeping advances,
heavy realizing sales and considerable
selling pressure from London. Per
haps the market was not as strong at
the close as 10 looked.
Two facts in the recent dealings
stand Out-the large increase in spec
ulative buying and the heavy invest
ment selling The reaction repeatedly
deferred Is still overdue. Bank off
Gals Disseminated strongly .gainst
certain speculative issues as collateral
for loans. Some big market leaders
have closed out their stocks and can
not be cOaXed back into the whirlpool
until the market has shown its ability
20 stand up under a substantial set
back.
One stock exchange seat sold at
$4,000 and wagers were laid on the
floor that the price would be $500
'befOre Jan. /. Stock brokers are be
ginning 10 feel that million-share
days viii be the rule and not the eX-
lception for some time
marlborough common was the most
iactive issue at the opening. Directors
meet Friday when action on the pre-
ferred dividend may be taken. But
speculation hinges on the proposed
lplan to remove the par value from the
,Rortehrn ore This would do away
with all stamp taxes and probably fur
ther increase speculative interest
Westinghouse Electric rose 4 points
ION a report that the company had Sc
fcured one OF the largest contracts ever
f1made for arms which viii keep il en-
lplOyed for the next three years and
Justify an advance in the stock 20 100.
Third Avenue rose from "a IL TO SO
hon q story that the company would
press the application now filed with
THE public service commission for the
right TO issue $1,5OO,000 four per
cent bonds. proceeds TO reimburse the
Treasury for improvements and extern
tsiOns already made. Part would be
FUSED to increase the contingent depre-
citation account 10 the $4,000, 900 de-
lsired by Pres't Whiteridge This, it is
ifigured, would permit the directors TO
lact on the dividend as early as July
next.
American Can has been quietly ac-
formulated for several days. The com
Ipany, IL is stated, intends TO pay up
the 8 "a per cent back dividends on
the preferred and establish the com
mon on a dividend basis within the
next Jew months
Missouri, Kansas and Texas share
holders found little comfort In the sug-
gested plan for financing the com
ipany by the issuing OF new securities
which will come ahead Of their hold
lings, whether this take the form Of an
adjustment bond or new preferred
stock.
California Petroleum issues were
strong and Mexican Petroleum shares
rose three points on reports that ne
gOtiatiOns were under way IN London
for the merger Of the companies.
Steel common, on very heavy trad
ing moved up to IS, the previous high
figure.
Then a flood OF selling orders from
london stOnped the advance.
Corn Products shares were active
The preferred was strong on intima-
tons that the back dividends would
probably be adjusted within the next
few months.
The epidemic of speculation in
stocks shows no sign of abatement.
although the danger increases with
each days advance. The public are
firmly in the saddle. They buy stocks
tOn the slightest prOvocation and be-
'lieve almost any story of domestic
profits TO be gained from the greatest
of foreign wars.