The Washington herald., 1915-01-22
INVESTORS TAKE
BIT IN Teeth
Run Away With Quotations
in a Broadening
Market.
HEAVY TRADING IN ERIE
New Leaders Come 10 Front--Bond
Dealings Large-More Interest
IN Speculative Issues.
HEAVY TRADING IN ERIE

Ncw York Jan, 2l.-InvestOrs took the
with quotations in a broadening market
that savored "f an uld-fashion"d hL,I!
movement. London sold fully loo
shares. but this had no more effect than
:. ;caspOoTfG3 OF wafer on a dry sponge.
New leaders have como 10 the front.
Pennsylvania one OF the most widely
held Of the railroad issues. gained -:
Union Pacific rose NOR" than point and
Great Northern preferred and Northern
Pacific were aEgressivcly strong. In the
prcserc. cf this activity Reading was
almost overlooked in its two-point Id-
vance.
ono Of tha surprises Of the day was
tn" heavy trading in Erie. the stock ad-
Nancing from . 80 , 81 in spite OF heavy
selling by the foreign houses.
The strength in the common stock has
o:1wn attentions 10 the first pref. ;I"d.
selling around p aud worth prona'I-
- to 30 point more Ihsn the common
shares.
Missouri Pncihc Drops.
Tre cream is off the jug i'm Missouri
Pacific and tho stock dropped a point on
the announcement that th, Gould inter
ests wou.d retire. ,UUdiliruIl.y Vest
Crn MARYLAND issues advanced sharply
the common gaining points and the pr
fcrrcd This is known as a Rockefeller
Trope rty. and. as forecast in this column
III" rOn!pary'S finances no doubt viii Hr
organized without injury to the stock
holders
Copper stocks were active ON an ad-
Vance in tn metal to II IL cents and
IrmOrs that the Russian government was
seeking {" purchase an additional -
&" 100 pounds ltaF TOs" L" - and Sm"l-
I,r- gained 4 point
Pittsburgh interests were heavy buyers
In United States steel common. carrying
1r.. price above - Orders are under
:'"od To hn coming i'm rapidly for rails
and equipment. In the oil stocks NeNi-
can Petroleum made further gain to %
aud California Petroleum sold as high as
!" -. Pittsburgh coal common and pre-
f"rred were strong. These ISSUES are act
Iu= well and promise further improve
mont. American Sugar rose two points
;Hd Bethlehem St"oI preferred continued
it, advance. closing at 1O4 -.
American can common aCain touched
- Is. :; this n-ur" the stock appears
10 be in abundant supply. Investors have |
been absorbing the preft rr-d shares /
steadily. and the price advanced n point |
today. This stock still carries ST per |
c"ut back dividends
Kansas city Southern earned over - Z.
T"l cent last wear. AMI business is i'm |
proving with the opening or the Panama |
canal. Tho shares rose to - today
Bond DEALINGS Large.
Transactions i'm bonds to1ul"d nearly !
SI.."o0ND. with increasing interest i'm the /
more speculative issues. Di~iilIc~S' - /
jumped from Il - to -. and Wabash re- |
funding As continued th"i, recovery. !
rrossing - Th" ruviuu in this issue is /
distinctly good. Wabash. PITTSBURGH .
Terminal first IS advanced 10 .. and (
Chesapeake and Ohio conv"rtihI" l-.s .
rose from - ~ tu ~. Third Avenue /
adjustment -. an attractive issue, rose /
from 7N 81 to - -. and Now York Cit% |
Railway adjustment - gained a point
Bond brokers report greedy demand |
for second grade issues that six weeks /
aEo were almost without hid Specula- ,
tion has made greater advances in this |
section Of tho maI kot than is apparent in .
IN" dealings in shares
Wall Streets last bull market ran from /
lSa7 10 1872 Thor" was an aftermath in |
'%n6. but few Of tho present generation .
have witnessed ID really big market. |
Speculation i'm professional circles is
heavily restricted by lack of funds and |
nerve. The public and the bankers have .
taken the market away from tn" brokers I
and the advance NAV h,' expected to Z
continue until the carving Of securities /
"u marshal account wcakems the terh-