New-York tribune., 1915-08-13
FINANCIAL RECORD
HERE AND ABROAD
Pool Specialties Active in
Irregular Market-Un-
settled Close.

Between proft-taking and 4 return
Of active speculative interest 70 the
war issues from the railroad shares
yesterdays market was highly irregu-
lar. Reactions were frequent, but they
were generally followed by sharp rail-
lies. At the close the tone was uncer-
tain, and while gains predominated In
the active list, prices were generally
farther away from their high level of
the day than from their low. Profess
sional dealings played large part in
the days business, and there was much
evidence of pool activity in such issues
as Allis-Chalmers, American Car and
Foundry and the Rumely shares. There
seemed to be more proft-taking in the
course of the morning than has been
observable lately. In the afternoon
there was a good deal of talk on the
floor of the exchange about the MeXi-
can situation.
The reported request of the Secretary
Of War for information about the num-
Der of troops available for immediate
transportation to the Mexican border
was regarded as evidence that the
Washington administration was con-
cCrned over recent developments, IN
cluding Carranza's notification TO the
United States and the Latin-American
republics that Mexico would not tol-
crate interference in her affairs.
In the early dealings the railroads
& 4 ha tnA ~ "a q
presented a mixed appearance, large
gains going side by side with impor-
tant declines. Southern Pacific, Ca
madam Pacific and Pennsylvania were
inclined 70 be heavy, while Kansas City
Southern was conspicuously strong. 1t
was not long before attention was
largely diverted to the industrials and
particularly TO Allis-Chalmers, which
had scored a big advance in the closing
dealings on Wednesday. There was an
excited opening in the stock, 4,bOO
shares being grouped at prices from
2% to ~ points below the previous
close, and within n short time the price
had risen 4A points 70 new high rec
ord. In the end il sold off rapidly, and
AT the close il had lost "s of point on
the day. The preferred stock was also
active, making an extreme gain of near
lv 5 points, of which it retained not
quite 8. A good part of the dealings
in both issues obviously originated not
more than a block from the Stock tx
change. Pool activity, in fact, was
never more patent than in yesterdays
market. Even such securities as the
Rumely stocks were pressed into ser
vice as war issues. On heavy trading
the common nearly doubled its prlce
of Wednesday and the preferred Ike
wise made q large gain. In the late
reaction their advances were cut down
TO 3A and 2l2 points, respectively.
A continuance of the advance in
bethlehem Steel preferred attracted
a great deal Of attention. On compara-
lively small dealings the stock rose to
$50. where it showed a gain Of about
% points, reacting later 10 l65. There
was nothing new in rumor or report to
account for the rise TO such price OF
an issue whose share in the company's
profits is limited TO its annual Z per
cent dividend. which IS cumulative.
Among the other incdstrials TO show
large gains were American Car and
Foundry. which closed at the top, with
an advance Of 65s points, after be-
lated rise; ys-Overland, which
added Is points to its large gam OF
Wednesday; Cuban-American Sugar,
which gained points, and Virginia
Iron, Coal and Coke, which gained 914.
Steel common, which was heavily dealt
in, was reactionary in the early trad
ing, and though it later made an ex-
treme gain of "a of a point, ended the
day with a fractional loss.
The foreign exchange market was
demoralized, with sterling checks down
to 4.73 and cables at 4.73%. Franc bills
also made new low records, at 5.83 for
checks and 582 for cables.