New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-17
FINANCIAL RECORD
HERE and ABROAD
War Contract Reports
Give Equipment Group
a Frenzied Rise.

War orders and rumors OF war
orders ruled the Stock Exchange yes
terday. A large contract for shrapnel
FOR Russia was reported as placed with
the American Locomotive Company,
and stock Of that concern sold at the
opening from 60 20 6S, at its highest
more than rs points above Thursdays
close. Other equipment companies and
concerns that could or might receive
part Of this or similar orders also went
higher, fuctuating widely through the
day. Issues that ordinarily are promi-
nent in times Of peace were rather
quiet. advancing in the early afternoon,
suffering a severe profit taking reaction
IN the late trading and rallying at the
close.
The pace was not slackened. Well
over 100000 shares changed hands,
and in bonds as well as stocks the list
Of active issues continued broad.
Bonds were dealt in TO the total OF
over 100000 again. and for the most
part were higher. In the late reaction
IN stocks for a little while 1t seemed
possible that the long predicted break,
for which so many traders have un-
successfully put out short commit
nents, had arrived. At the end OF the
day, however, standard issues were
within a fraction Of the close OF the
day before, while the war stocks
showed advances of up TO 18 points.
The Russian contract for shrapnel
was the most frequent topic of discus
sion in the brokerage houses. The last
big contract. which went to a Canadian
concern, came from Russia, and II is
understood amounted TO S25,OOOOOO
OF this work a good deal has been
placed with concerns in the United
States. The amount OF the new con-
tract was put yesterday all the way
from $4,000 900 TO Sl00,000,000. 1t IS
believed that the deal had not been
actually closed during business hours.
knowledge of the impending contract,
however, obtained over night, caused
a heavy amount of buying orders TO be
placed at the opening. The stock was
scarce. and brokers, bidding against
each other, ran the price up 70 one OF
the largest opening advances known on
the exchange. Late in the day there
was reaction Of - points from the
highest TO IS, but at the close a net
gain Of nearly II points remained.
In heavy trading, stocks of other
equipment and similar companies made
wide advances. New York Air Brake
showed the highest gain at the end Of
the day. with IS points. Maximum
gains Of from . TO points were made
by Republic Iron and Steel, Westing-
house. Railway Steel Spring, American
Car and Foundry. Pressed SteeI Car,
Baldwin Locomotive, Bethlehem Steel
and Allis-Chalmers
PETERBOROUGH Metropolitan issues were
strong early in the day, and prophe-
cies OF q further rise were freely OF
fered. The directors, however, merely
submitted the question Of disburse-
ment on the preferred, instead Of de-
claring some dividend at once. Both
issues broke rapidly, and, in spite Of
some recovery, lost ground on the day
United States Steel again led in vol
ume &C business and reached its high
est on the present movement. but end
cd the day unchanged. Reading began
with a gain Of over a point, and, after
some fuctuation, closed Just little
below the opening. Amalgamsted Cop
per added TO its advance, and, with
further strength in the price Of the
metal, copper stocks generally were
firm.
From known movements OF currency
n gain Of over S13,000,000 is predicted
This includes over $9,500,0O0 from the
interior and $500, 900 in gold from Hol-
land received yesterday with S2,5OO,OOQ
OF the recent engagement that reached
the Sub-Treasury from Ottawa. Call
loans renewed over the week end at 3
per cent. which was the highest rate
Of the day, and time accommodation
was steady. Sterling exchange worked
lower at one time touching 4.79h u, and
IN London discount rates were easier,
in spite Of the governments emergency
measures