Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-09-26
SPECIAL STOCKS
HELDATTENT|ON
Speculative Community Main
tanned Its Waiting Attitude
Toward the Market
PRICE TREND WAS UPWARD
stock sales today on the New York
exchange. as compiled by the Evening
Sun. totaIed 959. 400 shares.

New York. Sept. 26-The New York
Evening Suns closing financial review
today says:
Again today the securities market
registered the same quiet confidence dis
played all week. With the great steel
strike still deadlocked and continuing
the dominant influence governing the
stock market, today's trading was sim
liar to that in Immediately preceding
sessions. Transactions. while in fair
volume. were under the usual average
and speculative interest was kept alive
by the operations in handful of spe-
ciatios.
The speculative community main
tanned its waiting attitude toward the
market and at the same time followed
closely the course of the Senate investi-
CATION into the steel strike.
Nothing developed in this quarter
during market hours to throw any light
on the probable method of terminating
the labor controversy. 1t seems to Wall
street that with the passing of each
day the companies are gaining strength
in their position, not only because of
the gradual return of workers to the
mills, but through a wider public appre-
citation of the principles involved. An
nouncement that a strike had been
called for Bethlehem Steel workers next
| Monday was met by an advance in
the price of this stock today.
Among the chief speculative attrac-
tionS were General Motors. American
4 Can, Crucible Steel. Baldwin and the
tobacco shares. While such properties
/ as these were monopolizing trading in =
/ terest the general list did very little.
! although the tendency of the whole
market was toward higher figures dur
! ing the greater part of the session.
General Motors was one of the lead =
ers. getting up around its previous
| high record for an advance of more
than 10 points The move here awak-
ened some interest in other motor
shares. The chances are that General
Motors will earn in the neighborhood
of 500 a share in the current year on
! its common stock.
Crucible Steel scored another re =
markabe advance which carried it to a
new high price. The advance this time
was not credited so much to a squeeze
OF shorts as it was to figures seeming
to show that the stock was entitled to
II higher market valuation.
Buying of American Can. resulting
in an advance in the stock to within
few points of its high for the year.
was again noticeable. The sugar stocks
all added to their recent gains. Cuba
Cane touching 40. Copper shares. par
tiCularly those in line to benefit from
the rise in silver prices. were somewhat
more animated. Silver was quoted to-
day at around S1.19la an ounce. POND
Creek Coal. National Aniline. Interna
tional Paper and United States FOOD
Products were other issues which gave
a good account of themselves.
No bullish demonstrations were at
tempted in the steel stocks, but these
all averaged moderately higher. UniteC
States Steel held close to l04 most o
the time, Railroad shares, as usual
were all but neglected.
Trading sentiment was mildly Op.
timistic in its long range view of tn,
market, although nothing more than I
trading affair was expected during thu
present uncertainties.
. The stand was generally taken tha
the market is waiting upon settlpmen
! of the labor controversies and the rati
j fCatiOn of the peace treaty. With tn
5 latter obstacle removed and the cOnse
quent concentration of banking atten
= tion to the International exchange prob
: lem, Wall street would feel greatly re
! licved. .. f~..
: The best prices of the day were mad
in the last hour, the sharp advance
in few of the speculative issues at
: tracting new buying. Crucible Stee
: crossed 200 and American Can sold u
; to 81. just before the close there was
; jump in the call money rate to s pc
cent. and prices eased of slightly.