Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-11-06
WALL STREET MARKET
UNDER BEAR PRESSURE
Speculative Favorites Are Weak,
Other Than Studebaker, Which
Holds Reasonably Steady.
Rails Share in Decline, But Losses
Are Not Severe-Peace Rumors
Are Effective Argument.

NEW YORK, November e.-The New
York stock market Is almost as
variable in it's fluctuations as wea-
Their vane in changeable winds. For
four days past it has opened with a
valiant show of strength only to weak
en- in the first half hour and from then
on to recover and decline, 1t being dill
ficult to follow the moves.
Traders are of the opinion that big
interests in New York are not disin-
clined to see further break in prices
as the best way to start another Dull
movement, holding that the decline
would bring spectators back again, in
Guiding many traders who seem to be
holding off for fresh start on develop
ment of weakness.
Peace talk is so rife that it is hard to
convince the street that there Is not
something to it, although so far as act
uaI orders for more ammunition, for
money, the SinewS of war and for men,
the greatest necessity, there does not
appear to he even the feather of white
dove on the horizon.
Sees Action Before Holidays.
IF there is no peace, then stocks will
be higher said one trader. as he placed
a buying order. "for the public has
more money than it has ever had be-
fore, and there is time for much action
and a good killing speculation both
ways before the holidays"
Prices now are many points below
what they were a few weeks ago. The
short interest, almost an unknown
quantity a few weeks ago, when the
boom was on, is largely extended and
using efforts to make further gains In
depressing prices.
Leading private wire houses have ex-
pressed the opinion that the market is
greatly oversold and friends of better
prices hold that this is sure to result in
bears being forced to run to cover on
any good news.
Many of the war order stocks were
weak on the persistent peace rumors
and the recent showing of actual profits
for some of these far below the esti-
mates that have been SO freely made.
Studebaker to Make Tires.
studebaker, which may or may not
be classed with war issues, but which
has been one of the skyrocketing lead
ers in speculation, was helped today by
the announcement that a subsidiary
had been organized for the manufac-
ture of tires, capital Of $1,000, 900 hav-
ing been provided.
This announcement steadied the
price following a point decline. and
was attended with complete recovery
and a small fractional net gain, while
other speculative leaders were on the
down grade.
Some Sharp Recoveries.
Opening at 17s. Studebaker rose to
1854, dropped to 1924 and then recov-
cred to a closing at around 1881,
three-eighths of a point net gain.
Maxwell Motors in the meanwhile de-
clined 72h to 67h and recovered to
ssh. Willys-Overland, slow at 5
points loss.
Crucible Steel declined from 75N, the
high. following the opening to 72N, re-
covering to "A.
For the session, Baldwin Locomotive
lost nearly 4 points; Car Foundry, ~
Locomotive. u Allis-Chalmers. y, and
Westinghouse, rs.
The announcement of the Studebaker
Corporation entering the tire field had
bearish influence on Goodrich Com
pany, the stock Of which dropped from
IA to II and came back to 1871
Bethlehem Steel lost Is points, which
was entirely recovered before the end
of the session.