The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-09-19
.BEAR|SH ACTIVITY ON
THE STOCK MARKET
New Sales Record Established with q.
S. Steel Leading the Van-o1s Take
Squirt.

NEW YORK. Sept. 1S-Although trad
ing in today's broad market again ex-
ceeded a million shares for the tenth
successive full session with United
the new record Of sL0&% there were
many indications Of substantial realiz-
ing sales and a renewal OF bearing &C
tivity.
equipments followed the rise OF one 10
two points in rails during the forenoon.
with greater gains in trucIble Steel,
! General Electric. Peoples Gas and less
prominent Specialties.
! miscellaneous issues. shipping shares
and majors were subject TO considerable
hackinr %llinE, losing ground in the
final II which time rails also felt
! III >/of selling pressure. These
us were partly neutralized va
.en squirt In oils. Texas Company
= si.l7I.. while Mexican petroleum
trase almost points.
| Early gains in the moro mercurial
stocks. including the ~ paint rise in
| while such market leaders rs Union Pa
| cific. Reading and the metals closed at
| variable net losses. even steel succumb-
| ing to the general trend. Total sales
amounting to 1.1S5,000 shares. of which
steel contributed no less than Is per-
| cent.
Financial News bulletin says: Floor
Operators say that they are still holding
lines acquired al considerably lower
| prices in the belief that when the puo-
/ lie takes hold of the general list in full
! volume the profits to be obtained will
be much larger than offered Dat at current rSt
5r" New G hEh prees bS rnt@d
States Steel is tho niainsrrinG for pub
lie participation. according TO testimony
i from wire houses
Of nF
est Steel companies says sales agents
! and the mills are the ones to worry un
! der present conditions. Sales agents
| have nothing to do and mills are trying
! TO figure out how they are going to
| make deliveries.
Demand for all classes OF Steel is
| brisk While foreign demand is pnuSu-
ally large home consumption is breaking
new high records every month. One man
| ufacturer says Prices could be advanc-
cd IS a ton without checking, avalanche
! nf orders. Railroad buying Is increas-
| ing and this will probably still further
aggregate the plate market which al
ready has all it can do TO supply needs
OF customers.
New York Central has placed order
for Gao engines of which one half were
| placed with American Locomotive Co. /
| and remainder with Lima Locomotive |
! Co. Most of these engines arc of a. large
size. Locomotives are for delivery next
! There has hccn deposited at ASSAY Of !
| fices $2.5On,ON0 gold received from Can !
! ada by j. =. Morgan and Co. THIS makes
| a total Of sea-, 100000 gold imported on
this movement since May II. lao p. m.
A large additional amount of gold I.
| como into this country before thn end
| Of the year. according to private advices !
! from London. Bankers in that center
! have communicated their views private /,
| L. 10 important investment institutions
| hcrc. saying that 5000, 00o.000 nj least |
! no Skinned
United States before January.
| Financial News Bulletin says: Ralt- !
more and Ohio and New Haven stocks |
! are reported to be very heavily oyer
| sold, more so than any othcr railroad
1.iSsucs. Bear stor orders have been
| caught on tho rise in large numbers, !
and. according n specialist advicrs
there are many moro just ahor" current
| levels. Selling of both stocks recently !
has hcnn based on tho idea that they
were in poor condition 10 pay higher
| wages ordered.