The sun., 1916-10-05
FINANCIAL NEWS
And COMMENT
Railroad Shares Arc Eagerly
Bought Oh Favorable Re-
ports Of Earnings.
NORFOLK At A NEW HIGH
Indications Of Resumption of
Bull Movement Seen in
Markets Action.
NORFOLK At A NEW HIGH

! Many operators in stocks apparently
found excellent roasons In the position
or business and finance, in the belief ir
Wal street circles. Of the elimination OF
the present Washington Administrators
through the November election and IL
the general condition OF the securities
markets TO establish themselves on thu
long side Of speculation In yesterday
operations. And there wcro many CD.
orators also who entered tho actual IN.
Ncstnent market. particularly for tho
railroad stocks and bonds, IN which deal.
invS were relatively active t~hroughou,
the day on Il generally advancing move.
iient OF prices for the group. Although
there were periods OF co.npa rati,e weak.
ness Ia the general LIZ, aud small lie.
declines IN Il fair sized number Of stocks
the market presented great UNDERLYING
strength at all times and great capacity
10 absorb offerings, Nbtlo IL appeared to
reflect active preparations under way for
the resumption Of the bull movement or
"A progressive scale.
New York Central sold at a better
price than any recorded for II in tho las,
" years. Norfolk ard Western moved
u an absolute new high, rcnnsylyaria
al tA,t ~ 80 "Nr ~ INC year
traction OF its Gigh for 1915. ST Paul
Baltimore II Ohio, I.ehigh Valley
Union Pacific, Southern Pacific and
ieading were in better demand. The
low priced rails were strong also. Den.
YER and Rio Grande preferred. for IN.
s'anue' moving up : points. II was pri.
marily n railroad market.
hetnarKablc earnings now coming &c
ln NN Co.. 1900
manu- tor recent weeks and months and
nS' ItnoraDic annual reports provided
at,nuI'Ion Ior pnIiish arguments on the
Itii transportation shares. tho report OF
inc Union Pacific with rs earnings OF
more than 10 per cont. n, tho ron,,,n,
STOCK cxerting especial effect both upon
S,.ees ana sentiment. Evidently Wal
otee' anu tlc pubic are revising their
,uoas on TINS CLASS OF stocks because oi
W. ,drn'ns power and the expectation
snat IN .,e future 'urdensoine legislation
.sranlS' '"e companies VIII not be under
r,..rnpt s.'ies VITO es9 IN evidence as
,.scn a. 49, nu' NY were wo'
fn,,n', ..S.o"s' WHO INC s'eels
rccoyc ries vii, I.n,., W., u'r.ncs ana
mon leadi,v 4, he rno,a. I'M.
than 100. 900 share. or &C. not.
| changed hands ,nd q, - '"".ou
/ HIoItSSlO1Al nras2tre nuai,.s 10 ...r -..,
| lz,nr liouiJa,ion Ly 80. :, "" rear
its price held remarkably s,sad, 80 =,
small fractional net advance far tho 40
The situation In the steel and iron ,ra,is
naturally encourages new buyinr of ihs
steel Stock, and the idea which is
strongly held In many circles that IN.
United states Stee, Corporation Will show
earnings Tor tho quarter Just closed n,
we rae OF upward OF $50 for the com.
nnon snates ana VIII distribute another
sAs.a u.vluehd is responsible for the cur
I'M nea.y absorption OF that issue and
nn, an ' 'aIK mat rs quotation will
80. n"' is Top until $50 has been re-
Vs.
$500 reports from steel and Iron
" merely n repetition OF
,n"ou' onerihss 10 the companies OF
ous heavier tnan they can handle
Ss,ivsr,an OF buyers In obtaining
.e''e'les. greater demands from homs
" Ilk iron IMAM anN