New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-11-05
MARKET NEWS
AND COMMENT
Advance Continued After
Some Uncertainty In
the Forenoon.
INDUSTRIALS SHARE
IN LATE ADVANCE
Copper Stocks Improve-GOld
10 Go TO Amsterdam
Sterling Firmer.

The markets advance was continued
yesterday in another exceptionally
broad list of stocks, on a volume OF
business that again exceeded q million
shares. There was, during the fore
noon, some uncertainty as industrial
specialties showed signs of further
weakness, but in the late afternoon the
rise was resumed. A bond market OF
over 100000, one Of tho largest OF
the year, was an indication that buy
Ing Of securities was now looking moro
TO investment
For a while II appeared that the i'm
provement in railroads, which had been
so steady, had come to halt. but some
Of the seasoned carriers got above the
best of the day before, Atchison, which
closed over a point higher. being con-
spicuous. At the end Of the day rail-
road gains were generally Of fractions.
Preliminary reports of last month S
traffic are fulfilling expectations OF great
recovery from the poor gross receipts
lines set a new record for the month.
The copper stocks, which had Jagged
In previous sessions this week In spite
of reports of better market for the
metal and optimistic interviews as TO
prospects Of the trade, rose yesterday.
Anaconda, on dealings Of around 10000
shares, ended points higher, ruling
particularly strong in the late trading.
American Smelling and Refining and
Chino made net gains Of point or
more.
Local traction issues started with
continuation Of the flrmness that had
marked their course on Wednesday, but
did not make much progress. Western
Union got up over 8 points to its best
for years, and American Telephone and
Telegraph, on a considerable volume of
business, improved over point. Amer
lean Sugar and Beet Sugar went higher.
Early in the session Crucible Steel
continued the decline of the day before.
but the stock made up all its loss before
the close. Westinghouse, at the end Of
the day, advanced on announcement OF
more war orders American Steel Foun-
dry fell back, news Of foreign contracts
coming at the same time with an uneX-
pectedly poor earnings statement. Bald
win Locomotive made considerable gain.
Bethlehem Steel recovered 10 points,
and Can and Car and Foundry ad
vanced. United States Steel got up to
IS, but ended below its best with net
gain Of not quite point. Word that
the corporation was TO add TO its facili-
ties by erecting new wire and rod
mill at Cleveland was not received un-
Ill after the close.
Sterling exchange was steady at a
slight advance. The arrangements
companies will extend credit to the
Joint stock banks of London are being
put into definite form and will, it is
understood, be elastic enough TO give
as much accommodation to our GUS
toners on the other side as they can
properly expect. As London Is not the
free market for gold that she was in
ante-bellum days, there was witnessed
yesterday the peculiar transaction OF
preparation for shipment of 100000 Of
the precious metal from this city TO
Amsterdam, where, in ordinary times,
we would pay through the British cap
ital. Holland has sent us a consider
able amount of mercantile shipments,
notably of precious stones, and has sold
securities in our market for German
account as well as her own.
The Bank of England sent $4,000, 900
in gold to this country and parted with
further sums of the precious metal for
Egypt, South America, Spain and Can
ada. During the week, according iTo
Yesterdays statement. the banks bull
ion holdings increased some 100000,
the first gain since early in September.
There was some expansion of circula-
ton and deposit liabilities were heav-
Ter, which resulted in loss of about
" of per cent in the reserve proper
ton.