New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-22
MARKET NEWS
AND COMMENT
More War Industrials 90
Higher-Advances of
Spectacular Extent,
LIST. AS A WHOLE,
STILL HOLDS BACK
Profit Taking in Active Issues at
the Close Sterling Ex-
change Weaker.

In The war group yesterday there
were more issues that shared IN ad-
vances. and the extent Of some OF The
0ains were Of spectacular proportions.
The market 81 a whole e,ill failed 20
make any general resTo.e. 60 strength
IN = limited number OF Hecialt.cs and
toward the close ,her- Was some Teac-
tIon Trading IN over q million shares
made a total more than 100000 above
-ha; o. the day befo-c.
a, the opening Bethlehem Steel
changed hands az $50. Il points above
the close o. the night before. erd his
gain was extended 20 over - points
when during the first hovr tho stock
touched $685. Stp1ehalcr. which ths
week before had been dealt 'r n low
IS l69. vert Up over - points vester-
day 20 i94iz. Stvdohaker was .oined
in the fret hour b. others CT he auto.
mobile stocks. The minor steel and
equipment Issues we're put up when
United States Steel In the latter pnrt
o. the forenoon reached new high on
the movement at STU Some o. tho
chemical companies made extensive
gains.
Such q speculative excess. while In
some quarters greeted as 'he forcrun-
ner Of another broad market advance,
IN more conservative houses was taken
ss cause for warning customers 10 take
profits and strengthen their position.
n the last hour realiiZog was fairly
general among the active issues, and
those stocks most favored earlier
closed below their beat Great North
ern Orc was at his tiros brought FOR.
ward and advanced, while the re Of
the market was ro4ed'ng Reports that
II was 70 be taken into n sire merger
were discredited II responsible Guar
tors.
United States Steel changed hands
to tho ertent OF around 100000 'hares,
IN the afternoon reaching sIs4, 2
points above Wednesdays close, but
ending a point below It's best. rho
course Of Steel on the Stock Exchange,
the rumors Of directors action and the
earnings statement on the coming
tuesday are being closely followed by
traders.
The railroad stocks as a rule were
neglected. ST. Paul and New Haven
dropped back more than point. Rock
Island was under some pressure, clos
ing points lower, and the debenture
IS also declined. The copper stocks
failed 70 respond TO talk OF expected
increase IN foreign orders. lnspira-
ton was again heavily dealt in, but
closed a fraction down.
A further decline in sterling eX-
change brought demand 10 4.66le one
cent In the pound under the close OF
the day before and The lowest since
the middle Of last month. Grain bills
are coming into the market in heavy
supply. Exports last month, accord
Ing 10 the government Hgures pub
lished yesterday, were the largest ever
recorded except for those Of last Feb
ruary. The total was over 1927 100000,
and though imports were larger than
for the month before the favorable
trade balance reached more than
$4,000, 900 This export excess, only
once exceeded, shows why even tho
great credit transaction now being put
through here does not remove the pre-
MUM in the warning countries on
American dollars.
More gold from England, about $3.50
900, was deposited at the Assay Once:
here. During the week the Bank Of
England has lost upward Of s5,00O,000
in gold. Government deposits were cut
down so the reserve proportion rose to
nearly 81 per cent, comparatively
high figure a. reports this year Rave
gone.