Evening star., 1916-08-17
MARINES AND STEEL
LEADERS IN MARKET
Very Heavy Trading, With Sharp
Advances Well Maintained in
the Specialties Mentioned.
Profit-Taking Causes General Shad.
ing of Price-Improvem in
Industrials-Rails Are Slow.

NEW YORK. August lin the first
hour of todav's trading the sales eX
ceeded 100000 shares. with Steel COM
mon featuring. making new high
record on this movement. not far from
the previous high. while many other
stocks in the industrial list followed
the pace with good advances.
Mercantile Marines were next to
Steel common in activity, the common
lstock especially showing great strength
and advancing to 3SA. as compared
with a closing yesterday of BAN. All
the minor steels showed reflected
to points. with moderate activity in
everything. Lackawanna Steel gained
l 4 and Colorado Fuel and Iron like
amount. Bethlehem Steel was under
reacted and dropped s points. with
recovery before the end of the second
hour of the session of ) points.
After the first advance, which was
list. with few exceptions. the market
eased off again on the disposition of
some traders to take profits. but before
the second hour had been reached the
upturn was again in full swing. this
time extending to the motor shares.
Steel Commons New High.
The first sales Of Steel common COM
prised 1000 shares all around the steel
post at s11s to s1%, from where 1t
gradually worked up to 921a, the high
point of the morning hours. reacting to
92h.
Munitions were slightly better, but
the other industrials surpassed the old
favorites in the advancing trend. Bald
win Locomotive gained y. Locomotive
y, Crucible Steel but a fraction, the
street being again disappointed by the
small payment on deferred preferred
dividends.
Maxwell Motors moved up 11s. Stude-
baker point and Willys-Overland =.
Rails Are Neglected.
The rails were neglected and no i'm
portant changes were shown in prices.
what changes there were in the morn
ing hours being in the line OF frac-
tional recessions. The street still
awaits the outcome of negotiations in
the efforts to avoid a strike OF the
brotherhoods Of railroad employees.
Proft-Taking Brings Reaction.
In the two hours following midday
there was more OF less profit-taking In
evidence, the continued advancing trend
in certain stocks giving operators prof.
it's which they were anxious to cash.
The natural result was slowing down
of trading and recessions in values.
which wiped out some of the earlier ad-
vances entirely and reduced others ma
terially.
In the midst of the shading of values
Steel commoI and the Mercantile Ma
rine stocks stood out with decided
strength. the former at 92h to SIN.
and Mercantile Marine common making
a new high. 13ss-better than 4-point
gain-while the preferred was sh
higher net, at 98Z.
Studebaker lost all of its gain and
actually sustained II point loss. Max
well Motor held a point advance. Bald
win Locomotive and Cruicible Steel
were slow at yesterdays hnal figures.
Quiet in Final Hour.
The market continued slow in the nnal
hour of the session. Mercantile Marine
added a fraction to the earlier improve
ment, Linseed Oil was stronger and
Mexican Petroleum showed two-point
gain
Business was decidedly slow. 100000
shares an hour, with more or less anxiety
concerning the labor situation.