Evening star., 1915-12-16
WALL STREET MARKET
IS SOFT AND QUIET
Specialties Make Advances Early,
But Lose Most of Gains Later
in the Day.
Some More or Less Severe Slumps.
Rails Act Badly on a Very
Limited Business.

NEW YORK, December 16.-The New
York stock market was active only in
| spots. especially In certain specialties,
formerly leaders in the war stocks.
while coppers. oils and the rails gem
orally were easier. Many minor in
dustria1s did not break into the sales
list.
There was a decided lessening of in
terest in the Anglo-French bond busi-
ness, as compared with the large trans
actions of yesterday, nor was there
any further recessions in price. An
nouncement was made that the great
est distribution of the bonds was to
wealthy individuals connected with the
United States Steel Corporation, Bethle-
hem Steel and du Pont Powder Company.
Bear raids were made early in the
session on Mexican Petroleum, Bald
win and Studebaker in the initial trad
ing, while the taking of profits on
Mexican Petroleum also helped the
slump in that stock.
For more than a year many investors
have been carrying this stock with the
hope of getting even, and many traders
have been following the advance to
par. and decided to liquidate, the re-
suit being a 2kpoint break, with slight
recovery.
Baldwin Locomotive Firm.
Baldwin Locomotive soon developed
special f1rmness. The bears stopped
selling and started to cover, being has
tened in this movement by a persistent
rumor that the stock was to be put on
10 per cent basis. The action there
after was more positive. From 1854
the stock rose to 121z, as compar ed
with 1854 at the close yesterday. From
the high there was a moderate reaction
to 119 and a recovery to 1l9h.
Crucible Steel was the second strong
est industrial favorite, rising to 75a
from closing yesterday at 72k.
Maxwell Motors made a gain. but did
not hold it's advance. Westinghouse
sold to 70h, or IN higher.
General Motors abruptly broke from
$50 to Sig to SIS as compared with
yesterdays final of SAG.
Steel common was q lower early and
recovered the decline. blocks of the
stock coming out in the first hour, but
thereafter with no special activity
Studebaker weakened to 171k in the
first trading, then recovered to III. but
again dropped to low.
Rails Mostly Lower.
In the rails Louisville and Nashville
made a IN point rise. but other stocks
were 4 to a point lower. Canadian
Pacific sustaining the maximum with
Union Pacific wear and u net lower,
although at one time 1t was nearly
point off.
In the early hours of the afternoon
the entire market dragged with recess
sions in values quite general Bears
were pressing for the advantage, with
the Austrian situation giving them
some announcement
Baldwin Locomotive turned soft with
the others. and held but a scant u of
point net gain; Maxwell Motors
shares steady at II, v advance. Steel
common eased to S6. slight loss, while
Crucible Steel held points of its ad-
vance.
In the rails further recessions were
noted. Canadian Pacific going to 1894
and Union Pacific to 1863.
In the final hour of the session there
day. Studebaker and Steel common
leading in the decline. The former
broke to 1871. a net loss Of 5&, while
Steel common sold to 85%, a point
decline
Maxwell. Westinghouse, Baldwin and
Crucible Steel did not go OFF with the
other industrials, but were relatively
steady at early afternoon prices
ty-two point decline for the day. Can
common was decidedly soft
Further recessions were shown in the
rails. but the losses were not extended
as severely as in some OF the industriala
The closing was better than the low.