New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-10
IFARKET NEWS
AND COMMENT
Railroads Still Attract
Trading Interest, and
Reach New Highs.
REALIZING SALES
WELL ABSORBED
Sterling Exchange Goes Lower
Bank Loans Increase and
Surplus Falls.

In spite Of considerable profit taking
on the advance Of the day before, the
railroads got up into new ground yes
.erday and closed firm. with gains OF
from a fraction up to 4 points or more,
Interest IN these issues continued
LARGE. % the comparative neglect o.
.ho recent war favorites. A broad llst
81 The carriers shared In the advance
and the total Of around 100000 shares
smoke vel. for the volume Of business
under the new order of things. Some
If the ordnance and equipment stocks
made further recovery, and even among
the unseasoned industrisls there were
few important losses on the day "A
number Of the copper stocks did weh'
Smelling ind Refining showing marked
strength at the close.
Opening prices showed railroads for
the most part fractionally above Fri
davis close, with few war stocks max
ing better gains. Weekend realizing
centred in the railroads, but was well
absorbed. New Haven, In which short
interest Of some size had been built up,
was advanced easily until IL changed
hands az over So, ending a fraction
from its best, with gain Of over 4
points. Reading was only SHADE
higher at the close. but 81. Paul. Chess-
neake & Ohio, New York Central
Northern Pacific, Union and Southern
Pacific and others made gains from 20
or more points. New York Central
got above par for the first time In the
last two years, and others reached new
high levels from 1918 as well as 1914.
For three successive days The Trio-
une's average Of railroad stocks has
made new high records for the year.
United States Steel. which led In &C
tivity. reached its previous best price
OF 814 in expectation that the state
ment Of untitled tonnage TO be pre-
sented after the close would give
moderate increase. Instead, the gain
was more than 100000 tons, in spite of
shipments at about the capacity Of the
works. Unfinished business piled IN
in the month TO almost the extent OF
last January. when business was being
conducted on greatly reduced scale.
The total Of untitled orders now on the
books - over 100000 tons 49, IS the
largest oince the middle of 1913.
The Clearing House statement showed
a small loss in aggregate reserve, ana,
with loans more than s49,OOO,OOO
greater and deposits increased, surplus
fell of nearly $1,000 900. Banks and
trust companies in the Clearing House
still hold over Sls9,O0O.O00 more re-
serve than their deposits call for &C
cording 20 the requirements of the new
bank act Even the financing Of the
Anglo-French loan does not lead bank
ers TO expect any great stiffening in
money rates.
IN the foreign exchange market there
was an unusually large supply Of bills
for a Saturday, and demand sterling
FELL TO 4.CSi4 in the pound. more than
cent below the final price of the day
before and the lowest for some time
Exports are heavy, the Port of New
York. according TO daily totals, sending
out more than S37,000,000 last week.
In exchange circles there is doubt as to
holding sterling checks around 40, but
under present abnormal conditions
such opinion has often proved to be in
error.