The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-04
FINANCIAL NEWS
AND COMMENT
Liquidation Carries the List of
War Stocks Down TO a De-
pressed Close.
OTHER ISSUES ARE FIRM


Tie o%utstandins features Of the stock
:, rho, vos,erj.v altar ia. ,~Iac,,,, -.
-. =. A. - .o.t.
W. """ VI" P "
ueu the readtustmert movement tina
has been going on fo' seNeral wcckc IL
the aetna, ar. r,uc,ru, wn, r,,rit.op
ID.
7""''H' sun" e""'' Wis P''uuo@' va
the general Ust % STANDARD Sto"hs, the
rails. coppers and steels being held some
,,b,, IL, or.,, T., ,h, .,.,h,. ur.,,,io.
- -.
"eh' " Tue W'a''''A'l""oS '"'aN'r1a's
which have been ia" field Of 80 Wu,t
cungested stecul,; ON for tn. risr In ,c-
a.,, ,, ST..
.r,1m.t ", ~ ~ >,,t' ~" t., q"
WV" W ,"V '',.,'' u'.''"".s
m,,., wv -, "'. ~ ni,."i ~ ~,
,"''"I' N'' ~ ",'N''c'S "'''''!'"
'"' W" 'c'','t',S viz az
s'on Va "Ai P'o"'S mas Stt-"I"tNc'!
'"nu'arl"'".
''dnn'S was Un"'",",U.' Iu'I! VI, I,
'n' ''t'" 81 e't,N'ty 'a'"'!' t'a"'a,tiois
e>cerdihs "A m'ilion %r.'trcf' Out IL was
t'ati'est 'hat TIVE "u'h o, the rc'-''i.e'
represented persistent 'u"rfS ID VIII
draW from l"hg uimehls ~ 'h'
crn"d'd quarters o. ~ lN. INC" We
a loor itiirkci dl'i"E Hl"Nt - we dhA
t"r several OF ~" Mh' -, Nnl'' i-"i
been most inflated, 'i..i Liquidation wsS
stimulated Icy ~" ald.pU;I op IA
bethlehem Steel.
Another influence In the same direc-
ton was cNerteG by trucible Steel,
which responded with another suhstan-
tinl decline to the ~CDlnpany's report for
The year ended August 81. While this
showed u substantial Increase OF profits
compared with the previous year, at
tentton was attracted chiefly TO the state
ment that the compA;Iy's Onward bus'-
ness OF "A war supply nature did tot en-
coed sl7 200. 900 nnd that II had not
been possible TO hook more business %
tho sort. The fgurc given was about
oiie-'hird OF the minimum .~<aggcra-ions
lately prevalent, aud IA Wall street; 8
present mood 'hc circumstance Was
Enough to promote scop;ici,n respecting
dimensions Of wa orders and war CON
tract profits generally.
The real caus" c" liquidation III the
war order indu.i.la,- cout.HI-G, how
ever, TO DO III" ullhl,.aktuI" evidence
which had le"n ~'oUrhsatNd regarding
the excessively Numerous company q;
public sp'culators ti,.o WHOSE nandS the
stocks. OF this class bad been passed
this year at r'cy.d Quotations. Som"
rally occurred IA tlc last hou". but This
seemed only TO attract more selling a.
the close lief, the war munitlon shares
still yer! much depressed. In o.her d.
rections the signs Of underlying iirnaess
were unrnistaSable. ana th@uughoW IN"
day a good deal @. ass cssiNc Strength
was displayed by tdc local stocks IN
Guiding especially tA' t""r'i"uS.
various railroad Shares made Il con-
structiNe reSpohs 10 lcrS-''"Ht 'oNfIeat
buying based on the 'o"@S % general
business bttte'7ne'tt Which nave been
bringing standard securities more mo
FAVOR. Close observers "er" of the
opinion that with III" "rdin9 OF the
period OF unsett'"n"ut ~ voived IN IN.
read1ustInent Of the position ~ the war
Doomed indus'ri'IS the SeasoilTi STOCKS
would eNhioi' a nor" pf"i'ooiltcu 'rehu
toward improvement
Although premier .'sIulth speech IN
the House or COMMON" wa ha!Gi!
calculated TO indu'" Widespread" cieu"nc"
~ the theory or "a ears "1Hiis o. ~"
European war, ~" iiguidai'ls features
az III" stock maTKrt suggested ih@' last
week CONSIDERATION ~ the status 81 the
war stocks IN III" event OF peace no
made - rather deep impreSSiytl. 'tiltr