South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-09-14
NEW HIGH RECORDS
IN STOCK PRICES
Hope for AmiCabIe Settlement
of Trouble With Germany
Shown in Wall St.
BY Broadan Wall.

NEW YORK. Seut. 14-WaU street
expressed hope Monday OF an ami
cable solution Of the German-Amer-
lean situation by a higher range Of
prices for stocks, several rev high
records being made. With the eXcep-
ton OF Erie shares, the rails showed
little vitality and continued in the rut
in which they have been for months.
The market opened strong with
Crucible steel and Bethlehem steel
in front with large overnight gains.
General Motors also showed a large
gain over the holiday.
Brokers reported good volume OF
buying orders and as the session pro-
crossed, prices advanced until the last
hour when there was a slight recess
sion on prOfit-taking The movement
upward, however, was again resumed
in the last ; minutes so that the close
was strong and around the best.
The financial district is absorbed in
the British loan. which. according 20
bankers. probably will run from
$500 100000 to 100000. In
vestment bankers express the belief
that the hOtatiOn will be a distinct
success owing 10 the plethoran of idle
money in the banks. Some invest
ment bankers said today that they
contemplated borrowing money at
per cent and reinvesting II in the new
British loan which they believe will
WELD at least 5 per cent Large bust
ness concerns together with merchants
with idle funds are expected to set
them TO work in the new loan. as
there is a certainty that there Will be
a broad and ready market for the Sc
curities.
Before the Anglo-French commits
sion arrived in this country the gen.
eral opinion was that the loan would
cost them at least per cent but
since their arrival and declaration
that they could send us gold if Ameri-
cans wanted st. the rate that is ex-
pected to be demanded has dropped
one per cent. Quite few people in
the financial district. however. believe
that the concentration of such a large
amount Of money Notwithstanding
that il will remain in this country.
will cause a tightening up of the
money market with an appreciation
in rates
Contamination Of the loan is ex-
pected 10 have a depressing effect on
the market for American railway
bonds. according 10 investment bank
ers who believe that many investors
owning high grade railroad bonds
yielding 4 1-2 per cent will sell and
reinVest the proceeds i'm a security
backed by the allies. For this rea-
son. together with steady liquidation
by foreigners. no buoyancy is expect
Cd i'm the bond market for some time
10 come.
Conclusion Of the large loan. how
ever. is expected 70 have a favorable
influence on stocks as it is calculated
20 remedy the foreign exchange situa-
ton which has induced foreign sen-
ing Of stocks The loan Will also
supply the allies with funds with
which TO make additional purchases
Of American products which will be
mirrored in more tonnage for the
railroads
Bethlehem Steel sold at 335. the
highest price in its history and an
advance Of - points for the day.
Brokers say that the tenacity with
which Odd-lot investors. who pur-
chased a few shares Of the stock I'm
der par, are holding their shares is
surprising I'm view of the large paper
profits.
General Motors continued upward.
although the meeting of the fine zee
committee W hich has been considering
dividend action was postponed until
Thursday when the annual report and
announcement regarding the dividend
is expected.
United States Express advanced
nearly four points on announcement
that a partial liquidating dividend Of
S25 share would be paid in Mo-
v0mhpr