Evening star., 1916-01-21
WALL STREET MARKET
STRONG AND HIGHER
Stocks Start Slowly, But With Fair
Advances Over Thursdays Clos
ing, Specialties Leading.
Bears Becoming Alarmed by the Ap-
parent Strength, Cover Freely,
Forcing a Sharp Rally.

NEW YORK January 21.-While
there was no great activity in the stock
market, a better feeling was In evil
dence and higher prices were establish
ed on nearly all industrials and many
rails. The most marked gains were on
stocks that were Influenced by more
favorable reports on the Mexican s1tua-
ton, notably Smelter, Smelling, Mexi-
can Petroleum and a few other stocks.
Naturally the advances made In these
speculative leaders started the long line
of shorts to covering here and there
throughout the list and gave character
and tone to the entire list
War shares were given new I'M
petus by the general firmness, espe-
cially Crucible Steel and Industrial Al
cohol, while Westinghouse developed
good tone and General Electric also.
With the gains fairly under way. the
bears took another try and found the
market yielding, but after fractional
recessions the decline was stopped ana
many recoveries to the high of the
morning were scored.
Crucible One of the Strongest.
Smelling gained s.; Mexican Petro-
leum, "a Industrial Alcohol, "a: Mer-
camille Marine preferred. 2h; common.
rs; Texas Oil, points: Goodrich, a
point: Studebaker, ~, and many in
dustrials 4 to q of a point.
United States Steel common made a
u gain and held the better part of the
advance into the afternoon. Crucible
Steel was one of the strongest stocks
on the list, advancing from close last
A hr16 limo
firm.
Bethlehem Steel opened around 40, a
loss of points, from which it recov-
cred to AIS.
The rails were all firmer. but they
did not move even with the activity
shown in the industrials, and as the
session advanced they became very
dull, holding to the better part of their
gains.
best gains. q of point.
Other advances were y in Canadian
Pacific, y in Chesapeake and Ohio and
small fractions elsewhere.
Market Gains Strength.
AS the session advanced the market
slowly gained headway. and with the
first hour of the afternoon a general
advance started that scared the great
army of shorts and sent them in a
great rush to covering, with the result
that morning prices were soon made
to look cheap. and further gains were
established all along the line.
Smelter sold to 104S, Steel Common
made ! 4 net gain, Baldwin Locomo-
tive advanced points. Crucible Steel
Az, Mexican Petroleum gained nearly
4 points. being high at 113, and Max
we'll Motors added 8 points.
The whole list swung into line for
substantial advances.
Some Specialties Go Higher.
In the last hour the market slowed
down materially. While there were
many recessions from the high. much
of the early gain was held, while some
specialties made remarkable advances.
In this list was Industrial Alcohol,
which scored a net gain of IL points;
Bethlehem Steel which came back from
40 TO 4s4, net gain of points; Amer
lean Coal Products, with points i'm
provement, and Crucib1e Steel, which
was Az points higher. Maxwell Motors
sold 31s higher.
Steel common did not hold it's ad-
vance, going back to So u, as compared
with a closing at S3as yesterday.
Trading was not on an active scale in
the last half hour of the session.