Evening star., 1915-12-27
STEEL COMMON LEADS
WALL STREET ADVANCE
Window Dressing for January Dis
bursements Starts Early in the
Session and Gains Momentum.
New York Central PAGES Rails Will
Sharp Rise-Industrials General
ly Make Good Gains.

NEW YORK. December 27.-The mar
ket was given a decidedly firm opening
especially in the industrials. steels and
motor shares displaying the best
strength. while in the rails New YORK
Central paced the advance.
Steel common was active, moving up
to SSH, or Y of q point. while other
shares advanced moro or less sharply
ha% Of a point. Then there was
weak half hour in which the bulk OF
the gain seemed likely to be lost, only
to be followed by a renewal OF the
strong tone in the second hour OF the
session.
The market had all the appearances
Of window dressing. in which the rails
were a poor second. 1t is hard for the
railroad shares to make friends, with
every evidence of prosperity returning,
bringing renewed demands, is at pres
ent. and thousands of employees dis
cussing better labor conditions, shorter
time and increased wages.
Indifference to Rails.
Operators showed indifference toward
the rails, although they seemed to hold
their own fairly well. with the excep-
tion of Great Northern, which was y
lower. while New York Central rose to
new high on this movement. 109%.
went back to 1osN. recovering to
109k.
Union Pacific displayed a frm tone.
but was not active. though y higher.
The London market will open tomor-
row, after four days closure. and the
action will be closely watched by
traders
Gains throughout the Industrial list
were very general. ranging from y to
inf Doll @xxyfv 7 LII Yner
the gain Of the day in a IN point rise,
partly sustained.
Gains for Industrials.
Maxwell Motors. which have not been
active very much Of late. rose q point.
and Studebaker also made the same ad-
vance.
Gains of q of a point were made by
Smelling, Anaconda Copper. Colorado
Fuel. Mexican Petroleum. Republic
Steel common, Westinghouse and In
dustrial Alcohol.
Crucible Steel was two points better,
and h-point advances were general
throughout the minor industrials.
Large blocks of AngIo-French bonds
sold at San. showing decided heaviness.
Market Shows More Strength.
AS the session advanced into the Sec
ond hour of the afternoon the market
gained additional strength under the
leadership Of steel common. which sold
to S9s. a net advance of points.
In the advance some Of the rails
Joined, notably New Haven, Norfolk
and Western, st. Paul. New York Gen.
tral to 109%, and st. Paul.
The motor shares also moved up,
Studebaker to 1854, Maxwell to 18k.
while Baldwin Locomotive rose to
l2l%, as compared with 11Sh. Fridays
closing.
tions to points.
Rail Earnings Reported.
November earnings Of the Union
Pacific and Atchison. Topeka and Santa
Fe railroads. published today. indicate
the enormous tonnage movement for
that month in the west along the
Pacific coast.
The Union Pacifcs gross earnings
amounted to ss.ss5.ooo. an increase of
month Of 1914. with net earnings of
S3,s25 900. an increase Of $1,047.0o0. .
Atchison gross earnings aggregated
$12090,000, an increase OF $1,SSS,000,
the net aggregating $4,S2S,0o0, an In.
crease Of $1.142.0oo.
Steady Tone to Close.
The market continued its steady tone
right up to the close and fractional gains
were in order. Here and there a sharp
movement was noted. but it was generally
unusually steady.
Steel common continued the leader and
touched 50 n, the highest price since 1910.
American Coal Products developed
unusual strength with four-point
advance.
The rails joined in the advance with
the industrials, New York Central
carrying it's advance to 1.09A. net
gain of M Union Pacific rose to
IO9&, IN advance, while Southern Pa
cific crossed 103.
The excellent November statements
of the railroads. shown above. were a
factor in helping the whole market.