New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-06-04
Rise in Motor Shares the
Big Show in the
Market.
87-POINT JUMP IN
GENERAL MOTORS
Other Issues of Group Make
Large Gains AlsO-Odd Lot
Buying on the Increase.

Interest in the market yesterd.,
converged upon a comparatively mai
group Of shares. In the words Of an.
trader. except for Marine preferr.S
Norfolk & Western and the nao,,.
worthy Of the name" This nys,
~ well described the days psr.
Torrance. Marine preferred. wfies
had been one Of the first stocE,
to break on Friday after the news n
the British naval defeat reached ~
street, came back strongly, advaneiro
20 98b and closing IA up a. 81. Tss
lone feature Of the railway shares va.
Norfolk E. Western. which continued
its upturn begun Thursday. and ros.
Lriskly 10 a new top Of l34iz. But Il
was in the motor stocks that the real
fireworks took place. General Motors
furnished the big sensation b. iump.
ing 81 points on turnover Of l.O00
shares TO a new high Of $40, more tba1
making up the 57%4 point break Of lat
Monday. In the interval there had beer
no transactions in the stock Willys
Overland rose 20 points 20 3l4, also I.
new top; Chandler Motors went IN
liz 10 1908, while Studebaker az ia
showed a gain of 5 points. The moys
in the motors on the big board had A
counterpart on the curb, where United
Motors and Chevrolet achieved new
highs.
An Opinion Revised.
IL was quite evident from the action
of the market yesterday that the Street
had revised its hastily formed opinion
of Friday regarding the result Of the
naval engagement IN the North Sea
While no attempt was made 10 belittle
the victory Of the German feet, il was
felt that Great Britain still retained
supremacy Of the seas by a safe margin.
and that the result of the naval en-.
counter would in no way affect the I'll.
innate outcome of the struggle. On the
other hand, many persons held that the
British reverse would prolong the war
in that il would stimulate the Allied
forces 70 greater efforts. while az the
same time, by virtue Of her victory.
Berlin would not be so anxious to TAX
peace. This, it was argued, should
furnish a bull argument on the war
stocks.
Big Week for Motors.
The move in the motor stocks during
the last week, eliminating in yester.
days wild fight, has been one Of the
most spectacular demonstrations since
last autumn's riotous speculation in the
war stocks. Practically the shares Of
everything that runs on wheels and
smells of gasolene" have been given a
whirl upward, and a considerable fol.
lowing has been built among profes-
sional traders who like 70 play the
stocks that agord a wide range Of &C.
ton. In this respect the movement IN
the motors has digered from the
last bull campaign in the war
issues which at its height showed
very large public participation.
Yesterday there was a disposition
in conservative quarters in the
Street TO deprecate the boom in the
motors on the ground that il was bad
thing for the general market, and
might eventually react unfayorably up
on the rest Of the list. Many Stock
Exchange houses are now asking a
margin of 80 per cent and more Ga
speculative purchases Of the more vol
atile of the motor group. so that a good
deal of real money is required 20 play
the game. This. and the fact that
many of the motors have reached a
point wher they are out Of reach Of
the ordinary sized pocketbook, is tend
ing 20 keep the public out.