Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-10-30
HIGH PRICES OF DAY
WERE NOT FULLY HELD
Financial Interests Start Material
Rally in Rails to Divert Traders
From War Stocks.
Union Pacific and Steel Common
Market Leaders-Motor Shares
Are Stronger.

NEW YORK, October 30-There were
more numerous evidences of the desire
of the leading interests of the street to
shift attention from war issues and motor
stocks to the rails. seeking to check
speculation and lessen the dangers Of re-
actions, which are sure to come from time
to time.
Market indications do not suggest that
the attempt will be entirely successful,
for the industrials are doing the bust
ness. They are booking new orders, and
the stories Of war munition orders and
profits frequently exceed the credulity of
the reader
II there were equally good reason for
the rails to advance, the shifting process
might the more readily become general
Having made use of the proposed
peace proposals" for general clean
up of industrials. and especially of the
war stocks, the subject has been
dropped
The bears had another fine card in
the necessity for an operation on J. P.
Morgan, and though they tried to use
1t, rumoring ill effects from a would-be
assassin's bullet. the matter failed en-
tirely in having even the most unim-
portant effect on the market. rather an
unusual happening, considering the
importance of Mr.. Morgan to the flnan-
Cial ana industrial scheme OF the
United States of today.
Those who have considered this mat
ter take it to mean that the bull move
ment is under way again, and that it
is not the intention to call anything
like halt at this time.
Union Pacific Leader.
The rails were taken in hand with
the opening and given the strongest
nf
the pacemaker. 1t closed yesterday at
1878. started at 1879 this morning and
advanced to 1891, while Southern Pa
clfc, second in Importance, was adj
vanced from 99A. yesterdays close, to
1913.
All other rails were active and frac-
tionally higher. although not maintain
ing their full advance to the close,
while Canadian Pacific was an exeep-
ton in that 1t did not continue its up
ward trend Gains of 1aaA were gen
eral in this group.
The usual Saturday selling in evening"
up of accounts over the weekend was
IN evidence and the stocks met new
liquidation on every advance. checking
the Improvement. while in way some
short covering. especially in the rails,
neutralized the liquidation.
Crucible Steel Weak.
In the industrials there we're many
advances even more important than in
the rails. Crucible Steel was the ex-
ception, as it was under pressure and
actually lost a point
Studebaker was irregular, selling off
points, after recovering a like amount
u the early dealings and then coming
BACK to 172. making a point net gain.
Baldwin Locomotive advanced to 139
at the opening. y point betterment;
reacted to 1876, and came back to 1877.
General Motors and Willys-Overland
were about points higher: Maxwell
Motors fractiona1ly better.
Most Of the copper stocks showed
modest gains. Anaconda leading. In
dustrfal Alcohol went a point higher;
General Electric 4 points; many minor
industrials frmer to a point higher.
Steel Common Active.
Steel common was active from the
opening to the close of the session,
Sales were made from So to ssh, haA
gain at the opening. to s7S and s7&
later on, with a firm tone at the close
Big" Steel was decidedly strong,
selling up to III, ths high for many
months.
All through the list there were evil
dences of profit taking by traders who
purchased on the breaks of Wednes-
day and Thursday, this selling checking
to a certain extent the development of
a bullish market and the higher prices
for which the list was headed in the
initial trading.