New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-08
MARKET NEWS
AND COMMENT
Sustained Recovery. with
Trading Distributed in
Better Fashion.
WAR STOCKS ADVANCE
FROM THE OPENING
In Broad List Another Total OF
Around Million and Half
Shares Is Reached.

Trading broadened Yesterday and
the war stocks accounted for a smaller
proportion Of the dealings. Reaction
In these issues, however. had run it
course. The effect OF the pressure ap-
piled TO lessen reckless speculation had
been overestimated. New buying ap-
peared. prices were strong from the
opening and the short interest created
in the decline covered a good part or
its commitments. Not until around the
close was there any important setback,
and that was Of no great extent Specu-
lative industrials got up 20 around
their high prices Of the day before. and
ended with gains Of from to Z points
OF so.
The railroads and copper stocks re
ceived more attention than Of late, and
though the rails had 20 absorb consid-
cradle selling al higher prices reached
thew ended with some advance. Busi-
ness was in excess Of 100000 shares,
not much below the total of the day
before. in one Of the broadest lists OF
the year United States Steel led in
activity. Westinghouse and some Of the
low priced coppers coming next IN
favor
The opening carried on q rally with
which Wednesday had closed, announce
ment Of plans for merger of ordnance
companies and rumors Of further com
bination bringing into prominence Is
sues that last week had been excited
on similar reports. American Beet
Sugar. on assurance from Washington
that the duty on sugar would remain In
force as revenue measure, was up
more than points 81 the outset. Kali
roads started fractionally higher. In
the first hour more business was done
In some OF the standard railroads than
recently had been provided by a full
session.
Around the noon hour business slack,
ened. but prices held fairly steady, and
when, in the final trading. proht taxing
on the advance brought on irregularlty
and some marked declines, buying by
strong interests sent many issues close
70 their best Of the day At the close
Crucjble. Westinghouse, Air Brake,
Colorado Fuel and Baldwin Locomotive
had gains of from 70 points or
more Advances of from ! TO points
were common.
Bethlehem Steel went up az points 70
400, ending a fraction lower. Reports
that the company was TO acquire add
tional facilities which would enable 1t
10 do a greater amount OF ordnance
work were current, but the expected
announcement did not come in business
hours. This rise in Bethlehem, on no
great amount Of trading. did much to
renew speculation in other war order
stocks.
The governments announcement or
It's October estimates on our immense
grain crops received little more mar
ket attention than did reports Of the
remarkable activity in the steel and
iron industries on Wednesday. Official
forecasts now put the total harvest OF
wheat at upward Of l,000,000,00O bush.
els. IL 900 900 greater than the record
crop of 1914 The yield Of corn, which
il was thought had deteriorated last
month, was put at over 3,O0O.0OO,OOO
bushels, a 100000 above the Septem-
Der estimate and the second largest
crop in the history of the country.
The money market continued favor
able 10 borrowers so far as rates went
though there was some frmness in
time accommodation. Sterling exchange
fell of on moderate offerings and
closed at under 40 for demand. I'm
portation Of S2.250, 900 in gold, brought
in from London as an exchange trans
action, shows that in spite of impedi-
ments TO transfer caused by the war
sterling is below the import point.