Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-17
MARKET CLOSES STRONG,
! WAR SHARES LEADING
Former Speculative Favorites Are
Swept Aside by Trading
in Specialties.
New Record-Breaking Prices Reach
ed by Steel Stocks, But Rail
Leaders Are Heavy.

NEW Aoftk, July 1t" itn INC CA
ception of l.. s. Steel, which rose to
g.. the best price of the year, all for
mer speculative favorites were swept
aside again today while the various
war specialties were pushed forward
to new record breaking quotations.
Chief among these was Crucible Steel
which made an early gain of over
points, with ' points for the preferred
= Gains of to points were registered
by Bethlehem Steel. Sloss- Sheffield
Steel. Republic Steel. General Motors
and some of the more obscure indus
trials. including Aliis-Chalmers COM
mon and preferred.
Meantime some heaviness was OBJ
served in Southern Pacific, Union Pa
cific and Amalgamated Copper.
Recession From High Level.
Recessons of to points from the
was strong.
Bonds were steady.
New high records were scored by a
number of war shares almost a the
outset of totlays trading
Crucible Steel was again the foremost
feature. advancing over points in the
first half hour. with a gain of 5 points
for the preferred.
New maximums were also made by
Bethlehem steel. Republic Steel COM
mon and preferred. Baldwin Locomo-
tive and General Motors.
Highest Price in Years.
Pacific Mail. which is not classed
among the war issues. sold at its high
est price in years on reports pointing
at the advantageous disposal of that
property.
= United States Steel was the only ac-
tive leader, opening with a sale of 5000
shares at Il trifing gain. Other promi-
nent stocks, including railways, were
irregular.
War Stocks Dominate.
War stocks dominated this weeks stock
market almost to the exclusion of more
seasoned investment issues.
Many new records were made by the
munitions group, notably Bethlehem
steel. at 1878: Crucible Steel, common
and preferred. at Az and 80, respec-
lively: American Can, at 521s; Bald
win Locomotive. at 73H: Willys-Over-
land. at 1897, and General Motors, at
1881. Other shares in this class as
cended TO their highest price in years.
Viewed With Misgivins.
Apart from the movement in these
issues, which was viewed with some
misgivings by the conservative ele-
ment. United States Steel was the most
prominent leader, selling at 63N, it's
top quotation since the favorable court
decision in June. Steers rise was based
principally on the widely recognized
Improvement in that industry to-
gether with the favorable June ton
mage exhibit issued after the close of
last weeks market.
Railroad stocks were under pressure
most of the time. liquidation in South
ern Pacific and st. Paul, supplemented
with weakness in low-grade shares,
like Missouri Pacific. Missouri, Kansas
and Texas and Rock Island, all of which
made new low prices. serving that end
Financial Strength Grows.
St Louis and San Francisco issues
also weakened in connection with the
proposed reorganization plan, which is
bound to impose heavy assessments on
the underlying issues.
This country's continued supremacy
in finances is heightened by the nego-
tiations now under way for a French
credit and the probability of another
loan to British interests.
Flotation of the new war loan in
London contributed largely to the
. weeks liquidation of our securities
from across the water.