Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-10-18
BROAD. STOCK Market
AT IRREGULAR PRICES

Ju IIIVIOVLJMu iuV6V
NEW YORK, October IS. While
the stock market was quite ac-
tive again today and not lacking
in sensational advances, it was not as
steady as might have been expected.
for the profits have become very
tempting and some longs cannot besist
the desire to cash in.
If there were anything special 10
the action of today's market other
than the sensational rise in Mexican
Petroleum, it was the better feellns
developed in the rails, due to the be-
lief that they must and will do better
when peace shall come, and even the
skeptical do not believe it is far
away. The gains in the rails were
not SO important but they were held
in large percentage throughout the
early hours of the session and really
showed a considerably better tone.
Public interest has materially IN
creased in stocks. but for the time
being the public speculative interest is
not directed toward safe and cor
servative securities. but toward the
big advances that have tempted them
from rails and industrials generaiiy
into the specialties with oils as the
greatest Magnet peace ana war;
an all-time proposition.
Mexican Petroleum, 1691a.
Those that bought Mexican Petroleum
Yesterday were made twice glad by
bulge of II points, but at the same time
they were put in q quandary as 10
whether to take the profit or not.
Texas Oil, another favorite, crossed
the 200 mark for the first time, stopping
at 2O21a, S1A-point advance, but its
reaction wiped out the gain. while Mexi-
can Pete lost but 2 points OF the gam
Royal Dutch did not show on the ticker
in the first hour of trading, but 1t goes
without saying that as the royal MEMBER
of the oil group it would have given
good account of itself had the price been
sufficiently tempting to induce sale
In the second hour it moved up Is
points.
Coppers gave good account of them
selves in the active trading. as did Smelt-
ing and American Locomotive, but most
Of the equipment and Independent steel
shares suffered losses. as did Mercantile
Marine, a disappointed clientele selling
the latter for loss of points with fair
recovery on the theory that the sale
would be consummated one of these
days.
Some Notable Gains.
Gains of x point were made in Can
common, J. on Colorado Fuel, " on
kennicott Copper. a point on Ana
conda and Utah coppers. and 1 Is on
American Locomotive.
General Motors gained points;
Studebaker lost p and other motors
were soft, except Chalmers. which
rose 2A points and reacted point.
In the rail group. Delaware and
Hudson rose points. Canadian Pa
cific 3 points, Norfolk and Western,
IL; New Haven, *; Atchison. ":
Baltimore and Ohio. "; Reading. IN:
Southern Pacific. 2ss. and Union Pa
cific points. the full betterment not
being held.
The stock market is evidently dis
counting the success of the fourth lib
erty loan, despite much discouraging
talk.
The sales for the first hour were
47S.00O shares and for the first two
hours 10000 shares. 1t looked at
noon like 1.40O,000 share day.
In the early afternoon Mexican Pc
troleum made a new high at 1914
and the whole list, with few excep-
lions. came back to near the best
prices of the session.
Activity Diminishes.
Activity diminished in the after
noon, but gains in speculative issues
were substantially Increased. Mexi-
can Petroleum continued it's advance
to % points, and Royal Dutch in
creased it's to 10. War stocks also i'm
proved. notably Baldwin Locomotive
and tobaccos and feathers.
Prices were in nowiSe impaired by
the comparative dizziness, leaders, with
the exception of rails, experimenting
their gains of the morning.
Oils and coppers continued as the
outstanding features, both Mexican
Petroleum and Royal Dutch gaining
about 20 points each. A rise in cop
pers vas led by Utah, at an extreme
advance of S points, other metals
gaining to 31a.
War shares finally caught the bull
ish contagion, Baldwin Locomotive
gaining almost points, and there was
marked improvement in tobaccos and
feathers.