The Bridgeport evening farmer., 1915-08-07
STOCK MARKET


 New york. Aug 7.-opening-A1- though a few of the active specialties advanced strongly at the opening to- day. movements elsewhere were small and the market a, whole was nar- row. Crucible Steel was the center of speculative activity. It was bid up A to 92 E, the highest price on rec ord. United States Alcohol also made a record by rising S@ to 69. Beth1e- hem Steel long the most conspicuous of the war stocks. was less active. It rose E after beingJquoted fractional 1y under yesterdays close. Railroad shares were listless but firm
 IoSing.-Many shares showed the effect of distribution under cover of the vigorous advance in special issues but the general strength of the market aws conserved until the, railroad list began to sag Prices then fell rapidly. going below yesterdays finals in most instances. Tn the closing the market was heavy.
 Unconnrned reports of large ben ef1ts from war orders continued to af- fact sentiment to high degree and although published earnings of some industrial concerns failed to disclose the huge profits alleged to have been gained. the public demand continued for this class of securities Tentative erEoTts to arouse interest, in the rail- road stocks were unavailing, notwith- standing the outlook for an increase in earnings. A few stocks made strik- ing gains. Crucib1e Steel touched g 3-4, General Motors POT and Wi1lys> Overland 14S 1-2. Tn the light reaction, however, Bethlehem Steel gave way 12 points from the highest, General Mo- tors six and Crucib1e seven. Bonds were easy
 Henry Clews.l
 z On f7sa -Sfr.o1x HSx1Ioa rpA Hferai is a disposition to pay more attention to the best class of industrials and qadl- road shares. The latter have been neglected for some time past for req sons quite familiar. The transpor- talon outlook is rapidly improving. Good crops mean good business and larger traffic prospects at the West. Activity in steel means similar con- ditiDns over a large section of the East General business here will show corresponding Improvements Credit is generally sound. Collections are fair. July failures were the smallest in the past two years. An early decision is anticipated from the Interstate Commerce Commission on railroad rates. Some of the roads are already reporting better gross returns and the Improvement in net has been greater than gross, owing to enforced eeononai es The era Of dividend pass 5 class of railroad stocks cam be ab- sorbed with greater confidence than at any time within the last 12 months. Foreign sales of our securities have ceased for the time being, a1th ough they may be renewed under certain conditions. The foreign exchange sit uation has been ea4sed somewhat by the Canadian loan transa ction. There has been continued talk of placing large foreign credits in this market or endeavoring to create a market for foreign government bonds on this side, but thus far they have met with little success and need cause no apprehen- sion. Funds are abundant in this country and savings are apparently eccuhnu1ating faster than a year ago in spite of dull business. Our hnan- ciaI situation as a whole must be re- xarded as eminent1y = conservative, sound and promising. We regard the outlook in general as favorable but advise much caution and 8 sharp lookout for setbaclks arising from de- veIopments in the war or possible col lapse in some of the overworked war zro1Ep speciaIties. These advances have been too rapid and too hazard ous-