New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-28
MARKET NEWS
AND COMMENT
Trading Expands in a
Broad List - Stocks,
Steadier, Add to Gains.
COPPER ISSUES IN
ESPECIAL FAVOR
u. S. Steel, on Large Dealings
Approaches High of Year
War Group Quieter.

In a broader market and with
heavier trading, stocks added yesterday
20 their advance. From Washington
came assurances that our government
would be completely satisfied with the
German attitude. How this desirable
result was to be brought about was not
clear, but the public came eagerly to
The market and brought the days total
60 over 100000 shares. Commission
houses were active in the trading, and
q large business was received from out
Of town. Dealings were better dlstrio,
uted, with sensational rises few ana
the movement less erratic. Gains at
the close were general, IN spite OF q
large amount of proht-taklng.
The copper and allied issues were
strong from the start. London report
ed higher levels for copper, spelter and
lead. and the market here for metals
continued TO improve Anaconda, again
on heavy dealings, added 2 points to its
rise. while Utah and Inspiration i'm
proved. Guggenheim went to high
record, American Smelling and Re-
fning advanced, and some Of the lower
priced metals and refining stocks made
considerable gains. Tennessee Copper,
which made such a remarkable uprush
at the close the day before, fell back
overnight from 65 to So and ended with
a net loss of over points. Announce
Inent Of war orders, so confidently pre-
dcted the day before, were not forth
coming, and the report of bond issue
took the edge off the buying
Railroads were firm on a moderate
amount of business In the middle of
the day standari issues were'up point
or so, holding a good fraction of the in
crease at the close. The fractions
again received attention. United States
Steel opened a fraction higher and
ended with q point gain, little below
its best, on large amount of business.
Around noon, on heavy dealings IN
large blocks, il went TO n, within
traction of its highest of the year.
Among the war industrials move
ment was less excited than earlier in
the week Studebaker was compare
lively quiet and steady, ending shade
lower on the day Allis-Chalmers made
a maximum gain of points, half Of
which was lost before the day ended.
Can closed q shade down. Air Brake
was higher, and Westinghouse gained
nearly a point. There was considerable
trading in Pittsburgh Coal issues,
which advanced with revived reports
that accumulated dividends were TO be
paid
Paris dispatches had French dele
gates TO sail on Monday to arrange for
the coming credit for the Allies. This
put that support 70 exchange rates
some distance ahead, and sterling de-
clined 10 a new low record of 4.63B in
the pound, 23i2 cents under metallic
parity. Last year. according to figures
from Washington, the United States
exported more than any other nation in
the world. With prospects Of greater
business 10 come, the remedy for the
sterling situation must be a drastic one.
As possibility Of sudden rupture with
Germany has lessened, the frmer ten
dency Of earlier in the week in the local
money market has disappeared Time
accommodation was offered more freely
and there was a better market for
commercial paper. Currency move
ments during the week point to a gain
OF around S1OOO0OOO by local insttu-
tiOns.