New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-26
MARKET NEWS
AND COMMENT
War Stocks Break Early
on Profit Taking-An
Uneven Recovery.
MORE TRADING IN
THE RAILROAD LIST
Erie Strong In Active Dealings
Sterling Slumps Further, to
4.61la for Demand.

Heavy profit taking sales caused con
siderable losses in the war stocks soor
after the opening and the subsequent
recovery was uneTen. with price move
ment, particularly in the late after
noon, irregular. The railroads for {
while were favored with early gains o.
a point or more and the Erie issue;
were centres Of considerable specula
ton throughout the day. Toward the
close the few issues that were advanced
were not such as 20 inspire much con
fideuce in the rest Of the market. Deal
+ ings, amounting 20 over 100000 shares
were larger than on any day OF last
week, but bonds were not quite so &C
tive
The Erie stocks. with turnover OF
over $4,000 in the common and OF
/ around $4,000 i'm the first preferred
showed that at least one Of the car
riers had been found 10 furnish prom
lslnC medium for market operations
Reports Of great congestion among lines
running TO this city furnished a full
argument for Erie, which has increased
+ It's facilities since the last former pc
/ Rod of heavy traffic. The common end
| ed with a gain Of more than points
and the first and second preferred were
also higher.
Reading and Lehigh Valley were
strong in the forenoon, Reading at its
best changing hands more than 2 points
above Saturdays close. Southern Pacific
made slight response 20 report that
showed 10 per cent earned on the
common in the year ended June 30
against rs the year before. United
States Steel lost point on the day
and predictions Of to-day's quarterly
earnings statement were not quite SC
enthusiastic.
Equipment stocks were particularly
weak in the morning decline and gener-
ally were lower on the day. Baldwin
Locomotive opened with a gain of 4
points, changed hands more than be-
low its best and ended after some re-
covery with loss of less than ? points.
Colorado Fuel was advanced around the
middle Of the day and Corn Products
was favored in the late trading.
The Maxwell Motor issues made re-
markable gains. the common ending
only little below its best, more than
10 points above Saturdays close, and
the second preferred advancing over Z
points. StOdeDaher lell DdCh polhIS'
but the other automobile issues were
firm, with a good deal Of talk about the
immense export business that was add
ing TO their earnings.
The foreign exchange market was
moro orderly than on Saturday, but
offerings Of sterling and francs were
still cons derably in excess OF purchas-
ing. Demand sterling went to ne"
low on the movement at 4.6l32, ] &c
below Saturdays extreme decline.
Paris checks sold at 5.95 for a dollar.
The members of the Anglo-French
Commission who sailed for London
have arrived in England, and some def
mite news as to commercial credits
here is expected after conference
have been held among the London joint
stock banks.
Gold, il is understood, will come to
us in a fairly steady stream and some
securities will daily be taken by our
market. With great daily exports
such as the S2l 200 made public in
this district yesterday gold and securi-
ties are not enough to keep exchange
steady.