South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-12
WAR Stocks ONCE
MORE CAIN FAVOR
Baldwin Locomotive Takes
Lead and All Issues Score
Sharp Advances.

NEW ZORK. oct. 12.-Speculation
returned to the war stocks Monday
under leadership OF Baldwin LOcomo-
tive and scored sharp advances. The
railroad shares were strong early in
the day, but during the afternoon
were reactionary, due to the heavy
supply OF shares from Europe. The
establishment of q new high price of
SO for steel common, which is the
highest recorded since 1910, when II
sold at 81, served TO indicate a con-
tinuation OF the upward movement
The urgent demand for steel resulted
from the increase Of about 4O9, 900
tons in the untitled tonnage of the
corporation at the end Of September.
Execution of the accumulation Of
orders over Sunday by the commits
sion houses resulted in a strong open
ing, gains ranging from a fraction 10
a full point. TT csc advances were
enlarged during the first hour, when
a total OF about 100000 shares
changed hands, business on the fiOoI
being so active that the bond sales
We're not recorded on the tape.
Toward noon Europe began to supply
the railroads. which receded frac-
tionally. but ne selling from this
sion. While the railroads we're under
pressure, buying OF the War Brides"
became aggressive, with Baldwin
Locomotive at the head with an ad-
vance OF IL points. Westinghouse
Electric was also a f2yOrite, advanc-
ing nearly five points. Copper shares
we're in good demand at higher prices,
as were the motor stocks. The in
quiry for the war stocks seemed to
grow as the market progressed, so
that the close was around the best
ftaeures. The rails showed net frac-
tional losses for the session.
Brokers who make & close study
of human nature in connection with
the stock market expect an urgent
demand for such stocks as Reading,
Westinghouse, Pennsylvania and other
issues known as half stocks, that is,
with a par value of $50 per share.
These issues we're now quoted on q
percentage basis and when they are
traded II Wednesday on the dollar
basis the smaller numerals are ex-
pected TO attract purchasers.
The revival OF strength in the rail-
roads recently has restored the conf
dence Of many wealthy people who
have been soothing at the wild market
in the war shares. Conservative
brokers reported a large cash busi-
ness Monday in the railroad shares
by people Who have not participated
in the present advance. One broker
said he purchased one-quarter OF a
million dollars of International issues
for cash, while another took $500
shares Of various high-grade issues,
which will be paid for IN cash and
taken out Of the market There is
also much cash buying of odd lots.
Followers of the stock market al
ways look upon steel common as the
leader, no matter what particular is
sue they may be interested in, for II
is generally believed that the general
market cannot continue upward un-
less Steel common displays signs OF
the upward trend. Tape readers were
naturally highly grati1ed when this
issue had a wide opening on trades
OF 10000 shares from 50 1-2 to SO.
the highest point touched in five
years. From this level stock was sup
piled and Steel gradually eased off to
S21-4, but after absorbing ell offer
ings it advanced TO So rs. At this
point there was much curiosity as TO
whether the forenoon top would again
be touched but each time as the goal
seemed about to be reached some
stock would be supplied and it would
drop back 10 So SIS. The supreme
effort however. seemed to have been
made In the last few minutes of trad
ing. when. after selling up to 50 Us
and receding to 50 SIS. 1t returned to
S27-S and then touched SO on the
purchase of one block OF 9. 500 shares
The signs emitted by the traders sur
rounding the tickers were audible
The close was at the best figure.
The huge bucket shop which trad
ers have been expecting &c collapse
for the last three days is using des-
perate measures in an attempt to
avoid the inevitable. Saturday II