The Washington herald., 1917-01-10
STEEL and COPPERS
Lead STOCK MARKET
Realty. Atchison. New Haven. and
General Motors Show Weakness.
CBy tn. Inter..tion.l New. service.)

CBy the International News Serviee.)
New York, Nov. s-There was no mis-
taking the movements OF stocks in Wail
Street today. All the little people were
besrish and all the big people are SIN
cerely bullish again. Their motives Tor
being bullish won't bear examination.
but they are trying to coax the public
back steel was, of course, the leader
again. Pools dominated by important in
terests were active on the constructive
side. The only weak spots were In a
few specialties and rails where there
had been unJustihable optimism
The close of the market was almost
buoysnt- Most of the days gains were
made in the last hour of trading. Cop
pers Joined with Steel in giving strength
to the list and the oils were strong In
all departments, both on the inside and
on the curb.
Among the weak spots were Realty,
Atchison, New Haven and General Mo-
tors
Realty has lost considerable money
through Its subway contract-so much
as to counterbalance the large gains
from its real estate business. Therefore
SOM Of the stockholders want new
management and a fight viii probably be
made to secure II at the next meeting.
One large interest having this in view is
said to be selling out.
Atchison suffered because Wall Street
apparently forgets that Ripley is still
president OF the company. Anyone who
would imagine that he could increase the
dividend after the way he has been talk
ing about earnings would almost deserve
TO lose money in the stock. When the
regular dividend was declared today
Atch.Son broke about points. It is one
of the best and safest investment stocks
In Wall Street but Is not one to pick for
spectacular advance while the wage war
Is on
New Haven went down in response to
the bad earning statement Wall Street
argued that since it is not earning as
much as Southern Railway 1t has no
business. selling any higher. particularly
as the New England problem has noI
been solved yet by the railroad men.
Collapse OF General Motors was the
natural result Of the niggardly dividend
declared. With United States Steel pay
ing and earning 80 per cent, Wall Street
feels that motor paying 4 per cent, no
matter how great its earnings is not
entitled to sell any higher than Steel
Some people think even Steel Is too high
American Ice refused to display any en-
thusiasn over the new financing which
vas announced. The company whose
stock Is dealt in on the exchange is to
be Equidated. For each 100 shares OF
u theTe VIII De given forty-elSht shares
of new per cent nOncumulative pre-
ferred and twenty-five shares of new
Acommon. There will also be the right
TO subscribe at 66 to 80 shares OF the new
preferred, with which forty shares OF
the new common will go as a bonus.
Advance of Pennsylvania Crude Oil to
s-O5 barrel puts oil at the highest price
It has been in forty years and really a
the highest price on record for the pric
of $40 recorded for 1871 was in n tim>
when the whole country produced less
than half a million barrels a year Not
only did Mexican Petroleum, Texas Oil
on the exchange advance. but all the
curb shares were firm