New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-15
MARKET NEWS
AND COMMENT
General Reaction, with a
Few Special Issues
Moved Higher.
WAR STOCKS RISE
NOT ENCOURAGED
Shipment of Securities from
London Brings Fear OF
Foreign Selling.

Reaction went further yesterday, eT-
tending pretty generally throughout tne
list. The promised resumption OF tne
rise in war stocks was discouraged and
irdustrials weakened with the ran
roads Here and there few special
ties we're advanced. low priced ISSUES
making some show Of strength, but the
general tendency was 20 take proHlS
aud rrices suffered The late radlng
showed no definite trend and left active
Issues a point or so lower a. the close
with some losses of greater proper
tions.
Report Of arrival Of another large
sbipr0cnt Of securities naturally
aroused fears Of liquidation for Tor
eign account that accelerated reallzlhS
in the railr ds. Al their extreme oe-
cline losses Of a point or two were
made bv the standard carriers and hnal
prices we're not much above the lowest.
Selling pressure ln the railroad ItSV
was heaviest in the latter part OF me
morning and in the noon hour. and TOT
tho most part. the later trading pro-
duced no further recessions.
Among the war stocks, BALDWIN Loco
motive was conspicuously weak rom
the start. and ended with a loss OF
more than points, when more man
wiped out IFS improvement OF me ia!
before. Cruciblc steel, American Loco
motive and others OF the war group
fell back. The automobile ISSUES WgIe
firm, around the opening, but Stude-
boker lost points on the day, the Max
we'll issues weakened and Goodrlch loSV
all its early gain.
Consolidated Gas, on rumors OF some
i. 1
points. and maintained a good deal OF
lie strength to the close, though 10
confirmation OF the reports came 10
the market. Third Avenue also ad--
varcod as the inc for resumption oil
dividends seemed nearer. American
Smelling and T hning made up most OF
its Tuesday loss from Mexican troubles.
Dealings Of around 100000 shares
were only slightly under those of the
dav before. The list Of active issues
was unusually broad, and, while the
railroads had no great share Of the
trading. business was fairly well dis
tributcd. United States Steel was far
and away the most active issue, &C
counting for about onc-eiGhth OF the
DAYS total. In bonds another $4,000
600 changed hands. the tendency tow
ard weakness extending TO investment
issues.
News from the war in Europe was un-
certain enough 20 cause hesitation IN a
market that paid regard to such devel-
opmcnts. There was some discussion
on the floor and in the brokerage
houses of reports Of dissension IN the
French and British cabinets because Of
the apparent failure of the Allies
diplomacy in the Balkans, but this and
the failure Of the English attack on
the Western front were matters OF talk
rather than Of actual market influence.
Investors have already received CIR
culars offering the AnglO-French notes,
and to-day the campaign OF education
through the country will be started. An
unusually large proportion of the IN
dorwriteIs have withdrawn their allot-
mcnts. banking institutions considering
the obligations a desirable short time
There viii be made plain
in the days 10 come the strength be-
hind this unprecedented offering by the
French and British governments Of
promises to pay in funds Of foreign
nation.
Sterling exchange made further re-
covery on what appeared 70 be banking
support. The reported carload Of gold
from Canada failed TO appear. The
Bank Of England is letting gold go, as
is shown in the S6.000.0O0 loss reported
yesterday, but this is being privately
imported here rather than coming IN
the impressive form Of government
shipments.