New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-07
MARKET NEWS
AND COMMENT
Railroads Strong at the
Close-Industrials Ad-
vance Early.
QUIET DEALINGS
IN MID-SESSION
Copper Stocks Improve-Motor
Issues Higher-Sterling
Exchange Firm.

Standard railroad stocks moved up
IN the late trading yesterday, TO end
with gains Of a point or more. Gen.
orally they had been quiet. while In
dustrials improved around the opening
and through the lull that followed.
Coming as II did. this strength in the
railroads appeared to originate In pro-
fessional quarters, representing the
desire of traders to anticipate public
purchasing. Remarkably favorable earn
ings statements for October have been
presented and November gross receipts
already made known carry further the
Improvement To give point TO this
better state Of the transportation In
dustry the market looks for a more
favorable sttItuoe at the nations cap
ital.
Particular strength was manifested
By Norfolk g Western. Its detailed
report for October came to hand yes
terday and IL advanced early and ended
with q gain Of points after fairly
large dealings. New York Central led
the late upturn, reaching It's best for
the year. The Interstate Commerce
Commissions refusal Of a rehearing In
the anthracite rate case was ignored,
the hard coal carriers for the most
part improving with the rest.
Prices at the opening were little
changed over the week end. but the
tendency was toward an irregular ad-
vance. Copper stocks went higher In
the early dealings. hope of better divi-
dend counting for more than the quieter
market for the metal. Utah Copper
touched its highest recorded and others
in the copper group were firm. Cen
eral Motors made another spectacular
rise on a small amount of business,
ending at It's best. more than 81 points
above Saturdays close, at $50. Other
automobile and kindred issues were
stimulated toward higher levels by this
move in General Motors.
The equipment stocks and steel
making concerns made some irregular
gain. Resumption of dividends or AL
lis Chalmers preferred. and a start
toward paying off the accumulation Of
unpaid disbursements, announced in
the middle of the afternoon, was with
cut apparent market influence. United
States Steel moved up with the rail
roads, rising a good fraction to 81 and
ending a shade below its best.
Business was still restricted by the
opening Of Congress and the Presi-
cents message Of to-day. The first
and last hours accounted for a large
proportion Of the days dealings. and
in midafternoon trading was particu-
larly light. Bonds were rather quiet
on the exchange and over the counter
though prices held firm.
There was an easier tendency in the
local money market. with rates about
as on Friday. Call loans were again
renewed at IA per cent. and time
accommodation was in comparatively
little demand. Sterling exchange was
firm in London and advanced a little
here. with evidence Of banking support
Exchange on Paris reacted a little.
The decline in marks was checked and
they ended a little higher.
From London cable dispatches re-
ported Greek bonds lower as the sit
uation between that country and the
Allies became more dubious. Serbian
troops were reported as having re-
treated under arms through Greek ter
ritory to join the French forces.