South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-09-29
MANY ISSUES co
To HIGH LEVELS
Upward Movement in Industrial
Shares Continues With
Baldwin in Lead.

NEW Ohhs sept. - -- a At W.
ward movement in Industrial shares
continued today with Increased vigor.
many issues touching new high levels
The aggregate turnover OF stocks for
the day totalled about 100000
shares. or the largest since Sept. p,
1911. when 1,741,974 shares changed
hands.
War stocks were the center of spec
ulstion with Baldwin at the front
throughout Standard shares we're
strong early in the day. but were re-
dictionary during the afternoon Steel
touched its previous high OF - IL
for this movement but recedCd IN
the afternoon Independent Steel Co
shares were in demand and su0stan
tally higher.
Baldwin stock Active.
Baldwin Locomotive was the star
performer OF the day. opening with
an overnight gain of a fraction more
than five points and continuing up
ward until in the afternoon session
IL touched $50 is, "a new gain, ana
80 3-8 points over Mondays closing.
At the high point ike" Spiegelberg,
one Of the nimblest of the floor trad
ers on the stock exchange, is und r
stood to have been a seller Of the lot
that changed hands at the high hg-
ure. From the top there was a swift
decline. sales being made at reccs-
sions of two points between transac-
uons until the price touched 125.
from which there was a rebound. The
close showed a net gain of IA ii
points for the day. The activity ana
CITATIONS of Baldwin furnished many
disappOintments and surprises TO
spectators in the shares. The tape
was about five minutes behind the
a-tual transactions on the floor so that
some traders received more for their
shares than they expected. some less,
while others paid more than they eX-
pected, and in many instances people
paid less than they calculated The
rumor that the Dupont interests were
purchasing control persisted
Hebrew Makes Coin.
One Hebrew trader who about a
year ago was reported TO have lost
everything in speculation and who
trades IN a prominent commission
house in Broad St, was reported to-
day to be holding 5000 shares Of
Baldwin. which cost him well under
par. He has made considerable money
out of Bethlehem Steel and predicts
that it Will sell at 500.
Steel common. together with the in
dependent steel shares, were helped
by further advance in steel and iron
prices. Buying of Steel common is
said to be good, and. Notwithstanding
that the shares are not paying divi-
dends, brokers are advising their els-
toners TO sell their lines of specia,ties
and place the proceeds in steel.
Railroad shares displayed an ap-
pearance of calm, Notwithstanding
the storm going on in the war shares
Specialties Raise.
Specialties scored substantial ad-
vances. Colorado Fuel had another
a
Great Northern ore Certificates ad-
vanced about four points: Distillers
four points and United States Indus
trial Alcohol seven points. All these
issues touched new high figures for
this movement.
Much complaint was heard in the
commission houses at the delay with
which reports were made from the ex-
change on the execution OF orders. It
seems that. owing to the recent heavy
demand for clerks, some firms have
induced most of the old pages on the
stock exchange to accept clerical posi-
tiOns. These pages have been replaced
with inexperienced youths who are
making many mistakes and naturally
take much longer TO get about the
floor than their predecessors. There
is nothing more aggravating to a Gus
toner than to see a stock fiuctuating
at what figure bis purchase or sale
was Iade. In the rush there are
many mistakes and from time TO time
brokers ind themselves involuntarily
long or snort of a stock through a
mistake in the transmission Of the
order.
Tennessee Copper Ascends.
During the wild speculation in the
war brides" Tennessee Copper has
steadily but slowly been creeping up
TO its previous high figure of 90. To-
day II sold at 81 on reports that only
one signature, that OF the head Of the
company. remained TO be affixed to
the contract with Russia for acid. The
growing strength Of the stock has sur
priSed insiders who were nonplussed
within the last few days 10 learn that
there has been heavy accumulation
OF the shares for it is said TO be iden-
titled with the Duponts. There is only
S5,0O0,O0O par Of Tennessee outstand-
ing.