New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-11-04
MARKET NEWS
AND COMMENT
| further Weakness i'll the
War Group Unsettles
Prices Generally.
LOCAL FRACTIONS
HAVE AN UPTURN
Railroads, After an Early Rise,
Fall Back-BrOad List of
Stocks Traded In.

Further extensive losses among the
war stocks did more yesterday toward
disturbing the rest Of the list. In the
afternoon railroads, some Of which had
gone 20 new high prices on the move
ment. hesitated and fell back and the
trading slackened. Local traction is
sues and some public utility stocks
were brought forward and made con
siderable advances. The net result Of
the days changes was irregular, rail
roads for the most part ending frac-
tionally higher.
Trading in the forenoon was in very
heavy volume, and during the day some
100000 shares changed hands in the
broadest list yet seen. The bond mar
ket, which involved dealings in upward
Of S6,OC0,0OO was the largest for
months. Here prices. particularly for
underlying railroad issues. continued
firm and over the counter investment
buying continued heavy.
Business was resumed after the holi-
day with little apparent change in the
attitude Of traders. Opening prices
were for the most part fraction above
those Of Mondays close. with a few
OF the war stocks showing special
strength. These gains were not held,
and industrial favorites fell back, while
the railroads advanced. Gains from a
good fraction 10 point or more were
common in the railroad list and Read
ing got up more than points. In the
afternoon the market turned dull and
closed uncertain. the war stocks end
ing above their lowest.
The annual report Of the Crucible
Steel Company, which closely followed
the estimates Of war business and
profits made by the official of the COM
pany who was so disbelieved last sum-
mer, sent the stock of that company
more than points lower. Bethlehem
Steel changed hands as low as 425, 36
points down, and made up only points
Of its loss at the close. Realization
that actual result of foreign contracts
may prove far from sufficient to &C
prices of stocks Of companies concerned
in the trade checked new buying IN
these issues and fastened profit TAX
ing. Extreme losses of 2 points and
more were common. Baldwin changed
hands at its lowest, 6 points down, and
Maxwell Motors more than 4.
Announcement of an extra dividend
of | per cent on Studebaker proved
disappointing TO spectators VINO mad
been looking for some large immediate
distribution Of profits. The stock,
which had advanced points shortly
after the opening, fell back 3 from ITS
highest, making up part OF this loss
later. Central Leather directors de-
clared a dividend on the common upon
4 per cent basis, and some reaction
followed this announcement.
Among the fractions Brooklyn Rapid
Transit came early into prominence and
advanced in the late trading, ending
with a gain of over points. Third
Avenue and the marlborough Consoli-
dated issues also improved. Consoli-
dated Gas at its best was up over 3
points. American Telephone and Tele-
graph went higher, more than six times
as many shares being dealt in as
changed hands in all Of last week.
Western Union continued lts ADVANCE.
United States Steel fell gack frac-
ton, though trade publications were
still most enthusiastic as 70 the state
of the industry. Production Of pig iron
last month was at the rate OF more
than 100000 tons q day for the first
time in the country's history. and fur
Their improvement is noted in prices OF
iron and of finished steel.
ures showed exports last week $4,000
600 less than the record shipments OF
the week before and imports $4,000, 900
greater. The export balance over
SAP .OOO. OO0-was still one of the largest
presented With all this amount of
goods going ont, sterling rates were
frmcr for a while, some definite ar
rangcment for large commercial credits
for London being expected IN addition
10 the furthc~ accommodation Of prob
ably S30.oo00o0 GDuo1Dccd for France.