Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-09-15
STOCKS VERY ACTIVE
At IRREGULAR PRICES
Over Million-Share Day-Many Ad-
vances Partially Held-Few
Sensational Gains.
Railroads Develop Sharp Advances
Under Good Buying by Many
| Conservative Investors.

NEW YORK. September 15.-Brakes
were put down this morning-not in
serious declines. not in lessened activ-
ity. but in the steady and cratic jump
ing of values.
AS usual on eliminating rises, no
less than on sensational gains such as
the market has sustained, a time comes
when halts are made every little while
to digest conditions, to see where
traders are. to take profits: and these
halts of the traders usually develop
into soft spots. Probably the market
may resume its course to higher levels.
day will develop selling periods for the
evening up of accounts. and greater
irreeularity will result.
Such condition is apparent to an
impartial onlooker right now.
Opening Strong.
Following the weak turn in the final
half hour of yesterday, the market to-
day opened with spurts all through
the list; but the figures were gener-
ally the highest of the hour, although
in instances fractional further i'm
provement was scored: then. again. the
advance was shaded.
Later on Steel common bounded for
ward to 107. briggs a NUM-
ton stock, gained points: Industrial
Alcohol made it points, Colorado Fuel
scored like gain, but the real changes
were not especially important.
This comment relates entirely to the
industrials
Another Story in Rails.
With the action in the rails, it was
another story. There wasn't the rush
and wild action that was shown in the
industrials. but there was a decided
Improvement, and it had the backing
of the conservative traders. profession
al and layman.
The industrials are all near-at least
not far from-the highest prices in
their records. with a few exceptions,
while the rails are far. far below where
they were selling in the piping times
were much lower than they are at this
time.
Hence. investors like them. despite
the eight-hour law. which many do not
believe will stand the acid test. There
are few rails like Union Pacific and
Reading that are not near their low
marks, but Hill roads are 80 to 40
points below normal, and many others
at low prices.
Gains in the rails averaged about a
point in Reading. Union Pacific, St.
Paul, Northern Pacific. New Haven,
Norfolk and Western, Illinois Central,
Erie and b. & o. Atchison was frac-
tionally higher and Canadian Pacific
was slightly easier.
Few Important Changes.
In the early hours of the afternoon
the market moved along at high speed,
but the net results of the price move
ment were of small Importance.
Steel common dropped back from
107 to 1861; Maxwell Motors was a
little frmer: Industrial Alcohol moved
up to 1872 and dropped again to 100.
while Crucib!e Steel extended its i'm
provement to "a points net
Sales to noon. sol. 500 shares.
The rails held their gains well, but
made no further Improvement.
The closing hour was attended by
continued liberal trading. the rails at
tracing much more attention. Some
new highs for the session were estab-
lished in both the rails and industrials.
The Coppers were somewhat easier.
Other stocks showed relatively little
change.
Union Pacific made its net gain 2ss
and New York Central touched l07&,
nearly 4. points improvement.
In the industrials Crucible Steel ex-
tended its advance points above yes
rs: Mexican Petroleum. Y. while Steel
held steadily around lo61.
Motor shares were less firm in the
late trading