The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-19
FINANCIAL NEWS
AND COMMENT
Renewed Strength shown by
Miscellaneous Stocks, In
cluding Rails.
L. :. STEEL Is 4 FEATUR RE

Although a good many stocks con-
,inucd under the influence OF realizing
sales and displayed sl~uggishness when
there was much activity and strength in
the list. the market yesterday seemed TO
Indicate that last weeks rcactionary
movement; had lost much of its impetus.
There were observers who thought on
Saturday that this was the case, but
while the opening session OF the week
was not altogether conclusive. it's chief
feature were provided by Developments
In the direction OF renewed advance.
Over the week end recess there was
no news calculated to excite reckless con-
fdencc. war dispatches emphasized
recent deductions that the struggle had
entered upon a more desperate stage.
Repetition Of cautionary advices 70 specu-
la,ors had the further effect OF restrain
ing Wall street ventures for the rise and
the stock market for the day was char
actcrized for the most part 10y more
orderly performances In tho purchase OF
stocks than in some of the recent periods
,I fNlallNANt ot'Nl iNl'l'Ns '''tN
remained a iittlc below the million share
level. and until the last hour. when
United states Steel asserted "A forceful
leadership. the trading Was not particu-
larry excited. At the same time the as
poet of the market suggested That the
underlying disposition of the Wall street
community was toward an optimistic an
ticipa.iun of the persistence of a bullish
market. although will a more sensible
regard for r~eactionary qualifications
than was entertained until very lately.
Interest was fairly well diversified.
for business ranged over a miscellaneous
catalogue of stocks. Several of the more
important railroad shares rose very
sha rply around the middle OF the session.
coppcrs were under some pressure. hut
exhibited irmness. Bethlehem Steel az
tanned u new high record price ana
pointed the way FOR an extensive assort-
ment ~ way stocks. American Steel
Foundries was included in tie number
when il was announced that II had "A
definite prospect of substantial war con-
tract profits and the report had the cf-
feet Of stimulating speculative cXpccta-
ton relative to other contracts which
have been rumorcd as under negotiation
by several corporations.
Nidvale Steel shares in the outside
market rose almost violently and In the
late afternoon United States steel
reached the highest price at which II
has sold in years. The way in which
this stock was bought implied an en-
ergetic scramble on the part OF a bear
ish interest to cover its commitments
but the movement had friends enough I,
attract new buying FOR the rise because
OF the tokens that In the las; six months
of the present year and the first half or
lex; year the corporations earnings
are likely to make by far the largest
total for any twelve months in It's his
tory.
Conjecture as TO the showing OF the
September quarter established itself
around sal Gee. 90" net as \ minimum.
which would bc close to the best re-
suits evel achieved In the correspondents
quarter. with AL signs pointing to a rec
ord breaN!n. December quarter. Incl
dentally. 1t appears that not far FROM a
half million shares OF Steel COMMON
lave been l|iQpldIiel by Europe in the
six months 10 september 80, -" mos
than "A third OF the amount Of the stock
owned abroad last March. The absorb
ton II this selling at the advance whi"h
has taken place t. striking evidence o'
the strength of domestic conditions.
Foreign exchange continued to gain n
frmuess. The marked Improvement IN
Italian remittance was a direct conse-
quence of the $4,000. 900 loan under
negotiation for Italy. and the be;terment
OF lire was reflected in The exchanges
of the other allied countries.