Evening star., 1916-09-17
WALL STREET ENDS
EkFEyER|SHLY
Sales Amount to Nearly 800,-
600 Shares in Halliday
Session.
''WAR BRIDES ARE NOT
CONSPICUOUS IN TRADING
Interest centers Largely Around the
Railroad Issues, Which Show
Consistent Gains.

NEW YORK. September 1e.-The
week In the stock market terminated in
much the same way that 1t opened-a
ferment Of speculation-saies in the
tvo-hour session amounting to nearly
100000 shares, equivalent to q full day
Of 100000.
There was . marked change In the
character Of the operations. however.
interest converging almost entirely
about the railway DIVISION in which
extreme gains Of to almost 3 points
were fairly numerous. Except for
United States Steel. which continued Its
upward career to the new record OF 1os,
industrials. equipments and munitions
were in comparatively light demand.
although Drigss-Seabury gained an ad-
ditional Z points.
A distinctly irregular undertone was
denoted by the favorites Of the early
week and 1t was suggested that the
sues was being used as a cloak to un-
load the more mercurial stocks.
specialties Make Gains.
There were moderate reversals in
Mercantile Marines, American Smelling,
the Mexicans, Studebaker and Baldwin
points. Reading was the only impor-
tant railway issue to hang back. but
that stock had a smart gain earlier In
the week. when It made its new record.
Aside from. industrial conditions as
indicated by the threatened expansion
of labor troubles, weekend news was
mostly favorable. the mercantile agen-
cies reporting an increase in distribu-
tion of merchandise and large advance
sales.
The bank statement came up to general
expectation. with a substantial gain in
cash and an increase of slightly more
than $1S,000.000 in excess reserves that
item. however being very much under
the total Of a month ago.
The only feature to the bond market,
which ruled from irregular to firm. was
the greater diversification of offerings.
Today's total sales (par value) were
S3,420.oo0. United States coupon As were
Y per cent lower on call during the week.
Week Of Big Trading.
The extent Of the weeks feverish specu-
lation may be judged from the fact that
operations. including today's two-hour
session. amounted to not less than 7,500,-
900 shares. This is exclusive Of many
transactions in odd lots which are not
reported by the stock tickers.
Public or outside interest was the larg-
est and most extensive in years. this be-
ing evidenced by the activity in the Of
ices of commission houses and by the
countless orders received by telegraph and
telephone The advance was far more
impressive than last years meteoric
movements. which were mainly confined
to the so-called war brides"
This weeks business included issues Of
hut IN, y2f cyxy
limited degree. In no important instance
did the war shares come within hailing
distance Of last years meximums. Steel
At the new record of los, amounting to
fully 1.10o,o 900 shares.
Unprecedented Steel Prosperity.
Allied industrials were equally
strong, presumably on the known state
of the steel industry. which is proceed
ing at a point of unprecedented pros
perity. This was demonstrated by the
new or increased dividends declared by
these issues, including Lackawanna
Steel
Coppers and metals in general were
active and higher. their advance being
accelerated by the statements of the
pany and similar concerns. which re-
ported enormous gains in earnings.
Equipment shares followed the lead Of
industrials, but munitions and motors
We're under pressure, although General
Motors oyershadowed all other stocks
on its rise of 17S points to 75e.
New records also were made by rails,
Reading rising to 114h, while Union
Pacific touched 14sk, its top price since
1914 in the brisk and general advance
which featured the weeks final deal
inzs.
There was a better inquiry for bonds
and other investment issues at direct
q Hailod 70