New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-20
Broad, Active Rise in the
Acknowledgements Join
the Advance.
a MILLION AND A
QUARTER SHARE DAY
Carriers Furnish a Big Part OF
the Trading Reading Again
in the Lead.

The rise in railroads was carried oS
further yesterday on an even larger
scale. Business expanded until 1t
reached over a million and quarter
shares, the third million-share day Of
this year and the largest since the
elimination Of the war stock boom
last fall The railroads assumed lead
ership in volume Of trading as they
had not done since the war turned
speculative attention 20 the indus
trials. The advance of the day before
was resumed soon after the opening
and in the morning the carriers, again
led by Reading, went higher in very
active trading. Around noon the pace
slackened and some Of the coppers
were brought forward with few In
dustrials that could be classed as
peace stocks. Former fsvorites IN the
war group were comparatively qulet
and generally lower.
Less was heard about particular
benefits that might come 10 Reading
stockholders and more Of the posi-
bilities of the big rising markets, led
by the railroads. The German sub
marine question has hung over the
market, standing in the way OF cam
paigns TO bring back the public inter-
est, which so largely disappeared when
the war stocks broke. Now hope has
srisen that we will have no further
difficulty with Berlin. So. with new
leaders more suited to the possible
approach Of peace, the feeling has
grown that idle funds throughout the
country may be brought back TO spec
ulation in securities again.
Reading, with the chance that from
its surplus assets may come some time
a spectacular melon, offers capacity
for leadership in a speculative advance
such as probably no other Of the car
riers can furnish. II was dealt IN
yesterday TO total of around quar-
ter of a million shares, opening
fraction higher at par and rising be
fore noon to 1868, another record.
After that profit taking caused consld-
cradle reaction, but at no time during
the day did IL change hands as low
as Thursdays close and il ended more
than 3 points higher
Next in volume of business came
Erie, with around 100000 shares.
II. too, has its speculative appeal, as
after the long years of poverty expert
enced by the road il is at last show
ing good earnings on all classes Of
stock. At its best Erie was up more
than points and it closed with a
gain of a little better than l. Balti-
more & Ohio and New York Central,
large holders of Reading, were also
strong. though Central lost most of
It's gain before the close. Union Pa
cifc, Lehigh Valley-in fact, practically
all the standard carrers-gOt up at
least a point.
When attention was directed TO the
coppers Anaconda and Kennecutt were
particularly favored. Kenneeutt was
dealt i'm 10 the extent Of more than
100000 shares United States Steel
rose over point in active dealings
and ended with fractional gain. The
war group was weak again. not even
the fuse order obtained by the American
Locomotive Company, understood to
amount to around 100000. bringing
this section of the list back into favor.
Locomotive closed at its lowest, nearly
a point down, and the other mUnition
stocks, automobile issues and the zinc
shares declined.
The breadth of the dealings in the
international list was such that a
considerable amount Of liquidation
for London account could easily have
been accomplished without attracting
much notice. Sterling exchange got up
above 476 for demand again and ex-
change on Paris was frmer.