The Washington herald., 1915-09-18
MARKET EXPECTS
SUCCESSFUL loan
Advance in Foreign Exchange
Factor in Stock Ad-
vance.
COLORADO FUEL RISES
Steel Common Again in Good De-
mand-Standard Railroad Issues
49, Neglected.

New York, Sept. I.-GroWnS coIll-
dence that the huge allied loan will be
successfully negotiated, together with a
sharp advance in foreign exchange. had
a favorable influence on the demand for
stocks today that was reflected in higher
prices for the industrials. Several hign
records were made CableSrams from
Europe that the German newspapers had
been officially authorized to state that
the German government will give fuli
satisfaction to the United States with re-
gard to the Arabic and Hesperlan also
contributed to the better tone.
Steel common. which has been drag
on the list and evidencing little buoyancy
the last week. displayed strength, thus
reassuring many followers of the market
of its stability. The standard rails,
however, were again conspicuous Tor
their lethargy.
beginning with initial prices the market
was strong and higher up to the last
hour, when the higher prices induced
selling, which caused slight recessions.
The fact that the volume of trading
shrank with the recession in prices was
considered evidence of the market 8
strong position
Afraid of "Wnr Brides"
Conservative brokers who have care
fully studied the upward movement in
the war stocks. and whose customers
made large profits. are diverting the
specuIative efforts of their clientele IN
TO the low priced stocks such as Corn
Products common. Central Leather. and
American Linseed. These brokers say
the second movement in the war stocks
has resulted in heavy buying by people
who would not touch the shares at ma
terially lower prices. AS result OF
the present upward movement these
people have added to their holding and
have become over extended so that any
unfavorable development might cause
a sharp smash in the war brides.
Should such a thing occur the low
priced shares would suffer the least
Declaration of the so per cent divi-
dend by the General Motors had an in
vigorating effect on speculation in the
motor shares. Willys-Overland rose
six points. Studebaker three points.
and Maxwell Motors. common. a frac-
tion. General Motors. common. opened
with an overnight gale of seventeen
points and advanced eleven points ad-
ditional to the new high record of 291.
at which it met profit taking sales that
resulted in a decline of eleven points
from the top The new directors, pro-
posed for election to the General Mo-
tors. indicated TO the Street that there
had been a large transfer of holdings.
If not control. to new interests
Colorado Fuel Rises.
Buying of the industrials the last
week has been persistent that the
average price of twelve Industrial
shares today touched a new high record
exceeding the previous one made in
the boom days of 1906.
The action of the United States Rub
her directors in deciding to inaugurate
publication of semi-annual reports
created good impression in the
Street, but tnis company will have to
do mUCh more for the welfare of the
shareholders before the recent sudden
Passing Of the dividend will he even
partially forgotten. Incidentally. re-
cent corporate developments have
shown that minority shareholders are
coming into their own and are really
being considered by the controlling in