The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-10
FINANCIAL NEWS
AND COMMENT
Activity and Strength Week
End Feature Of stock
Market.
RAILS STILL LEADERS

Trading IN the wcck cul session az
tho Stuck Exchange was uu = scale Of
undiminislrrd volume aud railroad is
sues continued Tia" features of the deal
inSs. War st"rks remained under scat
tcrirc liquidation from impaired ac-
counts. and ,~arish selling as we'll 40
sales made to switch commitments into
tho rails. II is probable that the hcs,
Of these war munition stocks are under
coins a process NJ accommodation, for
questions of merit had little 10 do with
the decline. which was brought about
plungcs had placed them for the time
being in an unsafe position. They dis
played Yesterday what might he called
a resistance level. which suggested y
good deal OF Willingness to bug tncm at
r~cccssiuns. At tho sarnc time such our
chases. together with short covcrinc,
failed to impart stcadiness to the war
order group.
Rails rose huoyantly in Il fashion
which added to previous proofs that IL
would take very much absorption to give
Wall Street anything IKE such u line
Va 6ltl'0h - " W u NV ~ ~ W.
past. The demauI for rails extend Il
ihruuehuui NE whole list nf tutm. one
of the l~cttIcrs bc.up New Haven. WuIyh
is presumably being bought back 10y
New England. where large profits are
beinc dieiril,utcd by tho industry which
clrcumstanc"s of the wnr have slim
ulatcd, cupIcrs seemed to hold back.
puesibl, because Of some foreign supply.
hut tho miscellaneous list of public u,ilIty
and standard industrial descriptions Dis
played frm,'ss OF aggressive strength.
witt, u strong and active close In rails
at about the best 'rioe of the day
there WAS a~CCunuGuNiIc strength M
such stocks as United states =. 81. con.
solidatcd Gas and American smelling.
Indications that the Mexican cr.s e.
might Soou he ended ia the r,ctguitiuu
Of tarraIZd was Il factor ia the Vuf-
chasing uf American Smoliius. ~ ui
other Issues that have en- affected hN
the Mexican icigu of auatrhN aud chaos
Very heavy buy ms nf lsiitci states Steel
undoubtelly betrayed au Intelligent au-
ticipation OF the highly gratifying tom
nagc statement which the corporation
published after the close. This slowed
"a september gain II i0?. 1853 tons. which
was fully tNic" the highest average OF
OptimistiJ prediction IN advance. aud
~ tl'i Allll az 'F1NltittNl llt'l NC VI
taking new business ~ fu'ly l3,o00 tons
a day in excess of II production Whiyh
10 very nearly at capacity. I've for
ward buying of steel is all being done
at rising prices u it can no longer
be doubted that important dom site de-
mand has AZ last developed.
The Steel Corporations increase is not
only IL" largest of the year but II ar
ries its forward orders 10 i.3tT.nn0 tons.
which IL more than Loo. 0un tens above
the volume OF business on the books u
year ago. TheI.. is evidence here that
the recovery OF general business IS
broadcnAg rapidly. and ia res ,ouSc tu
the constructive influences which have
b"cn furnished ,ate,y. as in thu very
satisfactory success of the Anglo French
loan. the expansion Of bu~inesS activity
should become more and more pro-
nounced in the near future.
Among the matters pointing t. an lc-
CELEBRATED impetus for the business move
mont has been the brilliant progress Of
inc crop season, ANA Just what a gplru-
did result has been achieved WA, clearly
proved by TN" Government crop report
published ON THURSDAY. The Yield of
wheat breaks all records with a total
harvest estimated al more than one
billion bushels So does oats with more
'ss'i 's'''.'''r''' il~iif IT, ann corn,
with 5000. GOO. GOA bushels. is only a lit
tic short Of Il record. That business
and banking 'oniidrucc has gained
ground remarkably Of late has been
cvinced To Wall street by the spread uf
buying int" 'ho railroads and other
standard quarters of the stock market
and by the signs Of "A stirring of new on
tcrprisc which appear IN the new corr
porate combination To he known ~ thu
Midvale Steel and Ordnance Company.
The weekly bank statement exhibited
a very large increase in The loan to-
count, the gain being sii,000, 600. Loan
expansion at this time is altogether Il
healthy token, because it is "A measure
~ reviving financial activity. Sterling
exchange was distinctly weak yesterday,
demand being quoted as low as iGsi..
The stabilizing effects Of the Anglo
French loan are not yet NANTES. and
NAV not be erceDt ar "A lower leXsl