The Washington herald., 1916-09-14
800 FOR BETHLEHEM;
GENERAL MOTORS, 6g7
Midvale Reaches 7lIz-Other Highs
Recorded.

(By the international News servlee)
New York Sept. 13.-Stocks were pur-
chased with enthusiasm again in Wall
street today. New high records were made,
and in such stocks as to excite public
uying.
T Bethlehem Steel sold at $50; General
fDtors at 6g7. The new General Motors
* did even better, relatively. for it
/ at $50 Midvale at Tlz was a new
ord for many months. Atlantic. Gulf
4 West Indies made a new record by
1ssing a. The motors and munitions
red the steels, and even in the railroads
re was some activity. Reading and
lion Pacific were the strong features
n rere
OF news there was none really new. but
there were new versions of old stories.
One Of the most interesting had to do
with marine shares Of all kinds. 1t was
said to begin with the Atlantic, Gulf and
West Indies, earning $50 a share on its
common stock. Then it was whispered a
great combination is being worked out
whereby in few months all the marines
will be gathered into the American Inter
national fold. That company owns a
large interest in all of them now. The
rumor goes that it will offer its stock in
exchange for payment for stock OF Pa
Cihc Mail. CASTOR Williams and Wigmore,
International Mercantile Marine and At
lantic. Gulf and West Indies.
No confirmation could be had of this re-
potr, but the Street received it kindly. be-
cause such a development would be log
ical and good business.
Motors all woke Up when General Mo-
tors went to its new record. Maxwell
rose more than five points. Studebaker,
which the bears have been hammering for
par. was so strdhg it looked as II a thirty
point movement might be starting. There
Is evidence Of a desire of the motor man
ayers to put through a deal, in spite of
the unfortunate market accidents attend
ing previous attempts.
Plan to Treble Output.
The deal in which Kelly Springfield was
supposed to be concerned now turns out
to be merely a plan to treble it's output
and move from Akron to Cumberland.
As the company cannot fill more than a
third Of its orders now, multiplied earn
ings are assured in the near future. 1t
is believed 1t will take less than a year
TO get the new plant IN operation, and
in the meantime work will continue at
full pressure at the present plants. As
the company is earning more than 80
share on its stock the outlook Is pleas
p : to its shareholders.
An advance OF four points in Industrial
alcohol was a natural result OF the new
contract for powder taken by the du
. Points. All the output of the Alcohol
companies will now be required-and
more.
Sugars were firm as the result OF
another advance of raw and refined pro-
ducts. Beet sugar is earning at the rate
or more than $50 a share on its common
stock with actual cash in its treasury
greater than the par Of preferred out
standings.
Steels were all under the same influence
Il was said that MidvaIe might begin
dividends next month with an initial pay
J 1ent OF $ a share.
Extras on United States Steel are ex-
pected as a matter of course but the big
thing Is its growing account.
While Reading and Union Pacific need
no explanation, it was said the politi-
. clans emboldoue7 by the Maine election
were planning abolition Of all State rail-
road commissions. This would give the