Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-05
RISE OF STEEL COMMON
IS FEATURE OF MARKET
Shares Go to Toss, Highest Price
They Have Touched
Since 1912
HUGE BLOCKS CHANGE HANDS
Railroads and Coppcrs Arc in Less
Demand. hut War Stocks Keep Up
Their Mctcoric Carccr-Bcthlchcm
Steel Makes New High.
by nRo,DAN ALL.

Their Nlctcoric Carccr-Bcthlehcm
Steel Makes New High.
by nROADtN WALL.
NEW YORK. August i.-Ba:Tlnc the
activity ana strength of the war stocks
which is becoming u daily affair. the
rise OF steel common to ." a-S the
highest price since l@l2, was the feat
uic Of to-dHy's StoCk market. huge
blocks OF the stock changed hands from
40 Up, one block OF iupuu shares chang
inE hands at 20.
Railroads ana copper shares were
less active than Yesterday, hut the war
stock continued in demand with beih-
l.hem Steel advancing - points to the
new nigh price of 2"u. where II closed
Under leadership OF steel and the war
shares the whole market displayed
strong tone. with advances OF from
10 points n III, most active issues
The market had resting spell from
midday until about the beginning of
the last hour; when IIS Sieei began beg us
a new high for this movement just be-
fore the close. The undertouc was
strong al the close with indications of
a continuance OF the upward swing for
tomorrow.
strength OF equipment shares at
ractea mitch attention Amerinan CAR
and Foundry being the faNorite and
ADVANCING nearly points, due 10 re-
ports ar $&5.uuo. 600 war order. Fart
Of this gain. however VAS lost on
profit-,akiug Pressed Steel Car and
hallway steel springs were also high
az Pressed Steel Car strength is due
to orders for $2o,0oooo0 Of cars receiv-
ed from Russia.
COPPER SHARES
ARE LESS ACTIVE
Copper shares group were less
active Tennessee however, was more
active than FOR many weeks. ana went
through 80. an advance nearly OF :
points There was A fractional recess
sion from the best in the last hour,
owing to proht-takns sales. Tonnes.
see. however, continues to sell out or
proportion 10 the rest OF the high class
coppers. and has not shared in the adj
vance as much as the other coppers,
notwithstanding that. irrespective OF
Sulphuric acid. the company earns the
present dividend of 81 a share per an
mum with copper selling at Ice a
pound.
OH shares continued III demand. Mex
lean Petroleum and California Petro-
leum making substantial advances;
Within the last few days the failure
of American Can 10 share with the other
war stocks the substantial advances
being recorded. has caused many brok-
crs 20 begin wondering whether distri-
eral reports in the street nave been
that dividends on the common stock
would be started at tho rate of per
cent year following the payment OF
the S "a per cent back dividends on
the preferred. Ii these dividends are
started at per cent the stock is now
4 distribution TO shareholders.
NOT ALI. PROFIT-MAKERS
WILD-EiED SPECTATORS
General supposition in the financial
district is that only the wIld-eyed spec
ulators make large profits out OF the
sensational rise in the MAR stocks The
writer, however, learned to-day that
quite i few OF the former owners of
United States steel sinking Fund Us
were induced by Il far sighted enter
prisIrE stock Exchange house with
in q stones throw OF the exchange 10
dispose OF these bonds and take Beth
lehen steel Corporation Reminding 5s.
This firm. together with others, the
frst few days III May. took a very large
block OF United states steel 'sinkers,
and exchanged them for Bethlehem
Steers on a basis which cannot be made
public for private reasons. On May
The firm issued a circular calling attcn-
ton 10 the advantage OF selling the
steel 'sinkers" and buying the Beth
lehenIs. both paying the same interest
year. the latter, however, .onering a
huge opportunity for proht. The sink
ers'' were then selling around Io2 and
the Be,hlehem's at %, Al this point
one woman who owned $500, 900 par of
Be,hleheu's. Since then the Bethle-
hens have moved up TO l02. the price
AT which the "slnkers' arc still! selling.
AS result Of making The change the
woman has profit Of between $4,000
and $4,000. and can now cash in and
get her Stee! 'sinkers" back at the
price AZ which she Solo them.
again ndvnneet shafts today, but rail-.
the broad demand foF the railroads OF the
preceding session and the market lacked
the balance and widely distributed strength
OF that DAY The slugc!shness ~ the rail-
roads. however did no; interfere with the
veor ot the movement among the indus
trials particularly the steel Issues
United States Steel was the leader. he
Ing traded In heavily throughout the day.
Il rose -. 10 I"',. a higher price than II
attained \; any time during isli or 1918
s,ee! made another remarkable advance O.
?. points to gao Its previous high record
was - The close IN most cases was
near rhe days hest
II n" railroad list St Paul and Cana
dian !'ac,nr were heavy bu, the average
chang Nae slight. Professional traders
neglected the railroads ana outside interest
was ocnt"reG IN tn" :avo-itc industrials
TRADE -"Dor's. particularly from the steel
and INDUSTRY. were optimistic enough TO
explain the heavy buying 81 ,hose shares
There were reports ot several new order.
to- large amounts OF Vhr munitions. hut
they were no, confirmed. Copper producers.
reported !H'se Inquiries from domestic
foreign demand The bona market was
firm United States government hnnis
were unchanged on call
NEW YORK. Ausu., s-M.,can,.ro
E.age,rc. a'>ga': s',,.'..ns s.;,y-dny Gills
nar Give KS, MeTIcan a%iIars ''' az.
Government bonds. steady Railroad hondg.
err. Tine loans firm sixty Gays ~. n,
- ntn"iE GAYS =. six months 81. n