South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-02-20
LITTLE BUSINESS
DONE ON Street
Steel is the Most Active Stock,
But Trades Amounted to
Only 10000 ShareS-COp-
per Stocks Are Quiet.
Bv Broadan Wall.

Nv DfOdtlAM wall.
NEW YORK, Feb. 2O.-Dealings in
Fridays stock market were IN small
vO.Gme with a turn over Of less than
10000 shares. Prices were fairly
steady until the late afternoon, when
traders attempted 10 cut their com
mitments carrying quotations 10 the
low level OF the day. Closing prices
were soft
Steel was the most active stock and
this was not saying much, for trades
only amounted TO $4,000 shares and
the price was steady. Floor traders
were discouraged from taking the
short side as the character Of the buy
ing was for the best. In spite Of de-
malls the rumOr persists that the pO-
slJiOn OF the steel corporation on the
government suit has improved mater
tally.
Tennessee Copper dropped to 81 IA
with a rally 10 IS. The president OF
the company has become tired of de-
nying that he still retains the cOntroll-
ing interest. other copper shares
were quiet with fractional declines,
the largest loss being recorded in
Amalgamated with a drop of nearly
a point. Shelters showed early
strength but lost all its gain, closing at
the low point.
Mexican Petroleum was active and
selling from Ga IL to 60 Il. This
heavy, National Biscuit losing two
points and LoOse-Wiles scoring a fur
Their decline. This is one section of
the market that clearly reflects the
high price of wheat.
Interborough-M Metropolitan prefer
red fell two points on the refusal Of
President ShOnts TO agree to the pro-
pOsal OF the public service commission
that the marlborough should assume
the additional costs Of $1000,000 on
the eastern Parkway section of the
new subway. Third Avenue declined
alphabetically.
New Haven bumped along on the
official minimum Of AZ and Baltimore
and Ohio was active at the low fig
ure OF 67. Preferred fell a point on
foreign selling. International issues
were not pressed for sale for foreign
account 10 any extent although the
Lusitania's mail is expected TO arrive
Saturday.
Coal stocks were heavy Lehigh Val
ley dropped below 131, Pittsburgh
Coal preferred lost three points and
Reading declined from 143 IA to
141 rs.
Canadian Pacific was steady to the
disgust of several traders who were
short on the stock. Maxwell Motor
issues scored gains and Studebaker
and Goodrich advanced fractfonally.
IN the equipment stocks American Car
Foundry fell IL and American LO-
connective shares were offered by Am
81 erdam brokers. Pressed Steel Car
was comparatively firm. This issue
viii probably be one OF the first to
ADVANCE when the railroads begin to
Lay equipment.
New York Central debenture 6s
when issued made their first apear-
ance on the floor. Transactions were
comparatively light, around 1O1 1-2
The new Chicago and Northwestern
general SIS were transferred from the
curb but business in this issue was
small.
United States steel 5's were sold
heavily for foreign account. Central
Pacific As and Southern Pacific con-
vertiblo 5's with Northern Pacific As
were all offered by brokers represent
ing German banks. Mail from Hoi-
land is expected early next week with
heavy shipments OF bonds sold for
German account during the past
two weeks.
Optimism cannot be registered by
prevailing prices, discretion keeping
many bulls out OF the stock market
over the holidays. Many of the pro-
fessionai traders have closed their
open contracts and are prepared to
come back into Tuesdays market
without three days submarine risk.