The Washington herald., 1915-10-15
SLUMP FAILS TO
BRIGHTEN STREET
Reaction Held to Be Natural
Reaction by the Con-
servatives.
BETHLEHEM'S NEW HIGH
Steel Stock Reaches 467-Tennessee
Copper Near Previous Rec
ord of 20.

New York, Oct 14-The stock market
had natural reaction today following
the recent precipitate advance in the
railroad and industrial shares. Although
the general list closed with most issues
showing net losses, conservative brokers
considered the recession a healthy sign.
The orderly manner in which quoted
market values receded was also con-
sidered indicative of underlying
strength.
Initial prices displayed strength. with
gains ranging from a fraction TO nearly
two points Bethlehem Steel touched the
new high record of 467 in the early deal
inSs. which were irregular. owing to the
Offering of stocks for foreign account
as well by spectators with large
profits. The first real weakness appeared
shortly after midday. when prices Of
standard issues receded from one to two
points from the best. Orders under the
market, however, caused a quick re-
bound, but offerings increased in the last
hour and quotations receded to near the
previous low for the day. All signs of
pronounced weakness. however, were
absent. SO that conservative brokers do
not look for sharp break.
Third Avenue Mt High.
Advance of Tennessee Copper to with
in half point OF its previous high rec
ord of 20 attracted much attention and
: is understood to be in anticipation of
developments that are expected to be
announced when the stockholders meet
on Monday to approve the authorization
of s3.0oH.00o of bonds. of which s., 000 900
is To be issued TO provide for the re-
demption of bonds now outstanding and
for expanding the company's capacity
to take care of its growing business.
Other copper shares were slightly lower
. owing to realizing sales.
~
high record of S41-2 on announcement
that the committee, considering the
question of dividends, will recommend
tomorrow to the directors the payment
Of an initial dividend of l per cent on
January l.
Motor Shares Strong.
Gyrations Of South Porto Rico Sugar
Company common stock. which rose q
points to 149 and then dropped IS points
I" l31 on sales of $50 shares. attracted
much attention. but investigation reveal
ed that White & Co. have secured control
of the company for clients. This firm
has been purchasing the stock from so
To $50 a share privately The drop from
li9 to 49, was said by brokers 10 have
been due TO reports that the people seek |
ing control have secured it.
Consolidated Gas continued upward on |
reports that the directors We're consider |
Ing a distribution of assets.
Motor shares were strong in the early
trading. Maxwell Motors, first and sec
ond preferred. touched new tops. while |
the common sold within one-eighth of the |
previous high Willys Overland and |
Studebaker also reached new territory |
All issues receded in the late trading on |
prOft-taking.
American Smelling and Refining was |
helped by announcement of private dis |
patches 10 Washington denying that |
Gen. Villa had threatened to confisC ate !
the "ompany's property unless operated |
The shares We're also helped by state
mcnts from Washington that the United |
states government would notify Car
ranza of its official recognition of the
C"nStltutionalist government
\ good demand for bonds continues.