New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-22
FINANCIAL RECORD
HERE AND ABROAD
Wild Speculation in War
Group-Day's Trading
of 100000 Shares.

Overnight news that the strike in
Bridgeport munition works seemed set
tied and that our governments note to
Germany would not be such as TO cause
an immediate break of diplomatic re-
lations was followed by higher prices
in war stocks at yesterdays opening.
Spectators chose to ignore other labor
troubles that may delay shipments and
20 forget how serious was the POSSIBLE
ity of more Americans being killed by
German submarines. Excited trading
in the war stocks was continued
throughout the day, producing turn
over of around 100000 shares. In spite
Of reactions on profit taking, gains of
up to eight points and more were made
by the new industrial leaders, with
more high records reached.
Issues ordinarily classed as standard
investments had little part in the
movement. Early in the session rail
road stocks were up from a good frac-
ton 20 a point, hut the advance was
not held. Usually active railroads were
comparatively quiet, while trading was
centred in "A few of the issues assumed
to be in way of receiving great proht
from European warfare. Bonds were
quiet on the exchange, with little done
over the counter.
Crucible Steel was dealt in to the
extent of some 10000 shares, and at
its best, up nearly 9 points, was less
than points under It's high price
reached before criticism OF It's market
course by a member of the executive
committee caused so abrupt decilne'
1t went back little under proht shar-
ing, but still held gain OF more than
: noints at the close. Westinghouse,
of which more than 10000 shares
changed hands in the last fifteen min
utes. was advanced on large transac-
tions from around 105 to sl0l2, new
high record. At the close 1t was
point below its best, but more than .
higher on the day.
American Can opened higher than II
had ever been traded in before, ad-
yanced more than 4 points above Tues
DAVIS final figure and ended with
net gain of nearly points. Dealings
in this issue amounted 10 well above
100000 shares. Allis-Chalmers and Re
public Iron and Steel also were ac-
lively traded in, and each retained more
than a point of its advance. Bethle-
hem Steel on less active trading got
as high as 204.
United States Steel was behind West
inchouse and Can in the amount OF
business done, and after some reces-
sion ended a point higher. Steel trade
publications continue to report better
business, with domestic demand main
tanned and foreign orders heavy. The
Steel Corporation is said to be operat-
ing at around 81 per cent of capacity.
London dispatches in business hours
added little to the previous days ac-
count o. the immense turnover Of funds
in London in payment on the war
lean. Dealings in the new issue will
be begun a week from to-day, and II
will be traded in eX-conversiOn rights
on the following Tuesday. In the mean
time the London stock market contin-
ued practically inactive, while dis
counts held steady News from Lon
don that Russia was expected to export
gold brings up again the possibility
that it may be sent here direct for
British account.
Arrangement by bankers here to lend
$4,000. 900 70 the Dominion of Canada
in one and two year notes az per
cent. announced late in the day, is pri-
marily an accommodation offered to
country tina. provides us with excellent
customers for or exports. Incident
allv. the loan takes from London the
necessity of assisting in the colonial
financing. Here demand sterling was
a shade lower, while money rates in
our market were easier, with call loan
renewals made at Ia per cent instead
of2