South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-09-30
MAR LOAN STARTS
NEW HIGH RECORDS
Investment Bankers Predict
Big Demand for Anglo
French Bonds.

NEW YORK, sept. 3O.-Comple- |
don Of the Ang>o-T'rench loan i'm
parted strength TO the stock market
Wednesday and I'm the early dealings
-esuIted in the establishment OF quite
A few new high records. Trading
vas on a heavy scale, but not quite as
arge as on Tuesday.
Gvr..tions in the war stocks con-
inued 10 hold the center OF Afternoon
out Baldwin was quiet compared with
Is erratic fluctuations during the
previous session. Cruclble steer
.ouched a new high record, as ala
L.ackawanna. Tennessee Copper ana
several other specialties Steel COM
non esta hlished another new high
price for this movement at 70 5-S. In
explanation OF the failure Of this is
sue 10 share in the upward movement
% a large extent reports were current
hat about 500. 900 shares of steel
.ommon has been hquidated in the
market by the foreigners within the
asst few weeks
Initial prices showed substantial
overnight advances which were main
aimed most Of the forenoon, but IN
he afternoon heavy realizing sales re-
suited in substantial recessiOns from
he best. Conservative brokers con-
sidered the afternoon reaction as
temporary and look for a. resumption
Il the upward movement tomorrow
Local investment bankers declared
hat the demand for the Anglo-French
bonds TO be greater than even the
Rost sanguine expected. Commission
houses also reported a good demand
or the securities.
When Tennessee Copper closed
Tuesday there was demand for about
1000 shares by people who have re-
emily been discovered by the insiders
% be quietly accommodating the shares.
This untitled demand found reflection
I'm the sharp advance in the early
dealings. 1000 shares being pUrchas-
ID at the opening az 90, which was
IS points above the previous close.
some small amounts Immediately fol-
owed at Sc 81 and SIS. the latter iig-
ire being a new high record. To pre-
vent a runaway market in the shares,
stock was supplied at the top figure,
anu the price dropped very quickly 10
81 "a. from which there was a rally
10 slightly above 90. Subsequently
here was an orderly market between
90 and 65. Brokers who are often
repgted TO act for No. 20 Broadway
and the DupOnts were prominent on
the buying side. announcement OF
the Tennessee Copper bond issue may
De expected any lOuis dll htIdlAo nav
ing been arranged. The securities viii
he offered 70 share holders and IN
ierwritten by a syndicate headed by
the National City bank. The bonds
we're quoted on the curb today at lis
bid. while the rights were 1 3-4 TO ?
The floating supply of Tennessee ha
become very small and for this rea
son brokers expect erratic fluctuations
Independent steels continued d
urgent demand with Lackawanna a
the front L rose nearly - points L
50 "a on heavy dealings. The fiv
percent bonds due 1850 and convert
ible into the stock were also mater
iallv higher. I'm the absence of tn
head of the company who is sick. NJ
official information can be obtained
regarding the truth of reports tina
the company is TO get into the new
steel com binatiOn.
Sloss-Shefield made its debut, an
at one time showed an advance o
nearly eight points.
Erie continues the favOrite of wha
little speculation there is in the rails