The sun., 1916-09-23
FINANCIAL NEWS
AND COMMENT
Sales Total 1,450,3OO Shares
on 14th Consecutive Seven
Figure Full Day.
STEEL TOUCHES III So
New MaXimums Made, With
No Indication Of Overtrad-
ing in Market.
STEEL TOUCHES III So

T~hrousbout ycstcrday.s session I'm tbs
Stock exchange trading was in heavy
volume on n movcment NJ nriccs tina,
carried the average above tho cI,.inu of
the preceding Jay. with many sharn ad.
yances and new biph roco-ds ac,op,i,,ny-
ing the operations. which totaljed i.45o-
900 shares. II was the fourteenth rom
secutIye million share fuli session and
the twentieth for the ycar.
The public annette for stocks vac
enormous. especiaiiv for United states
Steel and the coppcrs. in which orders
came from all parts of tho country. stool
was taken in hinge volume In Tho I,.t
hour. when its price moved 10 iIia., "A
ma advance Of moro ib,n A no,n,s
as compared with Thursdays mai and a
not gain Of Az noiuts ,i,c h,yin, In.
Guiding covering by traders Who earlier
In tho ,lay ,,.L ,,ut an, shnr, limos In No
cpnHden, expectation that Tho Strength,
in tho general mnrkc, In IN, u,nrniu 4,
would bc followed by rcaciiops In tho
afternoon. Reactions did not figure I'm
the ,narkc, Ia anv cxtcnt NJ any ti,nc In
tho day.
Although realizing sales wore heavy
offerings s,cro easily ahsorhcd ho,b by
~vul, stree, aud ,Lo nu,,li,, All al
,hou,h =, f.r, ~, ,ho monument ism,
nroyidcd n i.rgo pronor,inn oY tho total
Icaiinrs ipteres, In ,hc .nccu,atiou uos
not consned tn .nv ono ,ispnr,mcn,.
many .,ocks ysn.,Iv inactive sharing IN
,ho ,,oysmcn, u,i,T c.neci.i |.rtiyiiv In
.ons ~ Tho so',,,,od c,,can nrir,J sec,ri.
40.
Sr..,,a,,,, ,r.,, ~ a, tho ,,,,,,,
oo,n, L,, q, -. ,sI.r,,. ,aycrh.i.ss
rhnr. ,,a, ro ,rai,a,inn ~ ,ochnIc,i
v,..Lr.s. 40 ,,Ii,,,inr ~ o~ycr,r.diry
,nI ~ S,rcn.,,nn In ,hc character M Tic
i.o,nns ,i,o,s.ha na,a,,o ha1 r,n -.
rour.n,. ,ha, =, ,,o, n,,, 90 ,n ;r,.r-
1919 " - 49, 80.
r,a,sri., 80, ian NJ nrnfossJ.,,,
,rad.rs h,uov.r ,ero Lo,rish mcr.i,
..... ~ ,L. a.
,ia,i,. - ,ho 80, ,nor .nJ r,n,,,,
49,. 81 .n .nn,. Nopp n..h'u,.,
90. 49, '....",oe.. prI"
$500 oen ~" "oo's Nv '"' po'"'' ~
" .eeo,ueu.
NeeoiuIns .o.ne '.por.s Ivvei.cu 'I'nn
eon'''i'ssio" houses 'he SINAI, 'raueF "
~ u@ " l"..oi III wv 'u'ie"'
Ma.ne, oper".lohs represent VI q
SEA. aesree ,he Dig men WHO'S resources
are srea' anu VINO are nu!ihs stoeNs on
'he OASIS VI the rerhaIhap'c factors III inc
wpr,d Oh business ahd nfShce' Ihey are
ou.'nk ou'risW Ut on heaN! margins
anu 'ncy cNioe"'iy pei'e'e 'hat WIN the
steei ana copper INDUSTRY making new
"lsh recorus IN lne natter or Productloh
ana earnings WIN IN" raiiroaus nai'uiii's
an immense tre'sht tonnage Win prac-
'icaiiy all the big DIVIDEND paying cor
poratiohe earning well IN excess OF diNi-
ueno requirements ana with the suppl.
OF goiu III the country being increased
almost daily through receipts Of gold
from abroad there IL no good reason
why their expectations of higher prices
Tor American securities should not lie
fu!nlled. And many of these buyers arc
buying back stocks which they sold at
lower levels.
Wall street is revising It's ideas on
what constitutes high prices. When
steel common sold At % par was talked
or as a reasonable top point. and when
par was crossed 10 was named ~ the