OCR Text |
Show GREAT VIRILITY 18 SHOWN BY NEW YORK STOCK MARKET Bethlehem Steel Advances a Full Dozen Points and Other Securities m Proportion By BROADAN WALL By Internationa New a Service NEW YORK March 9 Today s Btoc i market showed great vir 1 ty Fluctua tlons were 1 ely speculation shifting sudden y to d ffe ent Issues and develop ing a higher range of prices with each move Bethlehem Steel ended w th a clean ga n of a dozen points after a series of sharp advances which would ha e upset any but a stable marl et What -nou d Steel common be worth If lt was earn ng 20 per cent on the com non? que led an active broker Probab y par was t e bea tat ng an swer from a fe ow trader who so d all h s stocks on the morning bu ge Beth lehem earned 30 per cent on the common last year w th indications that 1915 will doub e those figures Therefore I con elude that par would be cheap Unfortunate y many have fought tl e advance and were aught short the r eage ness to cover acce e at ng today s sharp advances Street op n on appea s to ag ee that nearly everyo e acqua nted w t the management lacked faith enough to be bul s on the r own stock and the , outs ders have the shares today and some huge paper profits Auto Issues Lively Automobl e issues were aga n taken n , hand Studebaker gained mo e than 3 po nta on reports of heavy contracts se , cured from the French government dur : ng the past ten das General Motors rose nearly 7 po nts and the Maxwell issues were heal y traded in with gains , of f om 2 to 4 points Copper shares were strong on predlc : t ons of further ad ances In the price of the meta Ltah on good buy ng rose to o62 Guggenhe m Explo at on a hold Ing ompany of cons de able prom se mo ed up 2 po nts Smel ers was active around 68) An Increase in the dividend rate on th s btock is antic pated in the fa 1 Po k Is and in a rea old fashioned bu 1 sw r cavorted from 193 to 26 and th s happened n the last hour There has been a latent bu I shness on this stock for some t me The market value is figured by some experts as somewhere between 60 and o There was also a short In terest that added considerab e to the li e 1 ness of t e trad ng Union Pacific Steady Canadian Pacific was stron Lnion Pa c flc steadv and Great Northern firm. The latter is be ng accumu ated by son e of t e best In estment houses Perm sylvan a ga ned a po nt and a further ad vance Is ant c pated American Can rose to 0 This stoc c has been neglected and may be expe ted to make a good show ng n the on ng mar et Al s Chalmers preferred was strong on reports of increas ng earnings due to large contracts for overflow bus ness f om the Beth ehem Steel tompany Bonds were in very good demand the vo ume of t ad ng large with many sub stant a advances The rap d r se n Bet ehem Steel at the open ng frightened many into dis pos ng of their specu ative hold ngs on the theory that a react on would fo low in tl e general 1 st This proved a fil lacy for the stock market gained strength and breadth with the result that those nearest the floor are sold out bu Is. The market is old fash oned In th 3 re spect it is eas er to get out w t a profit I than to find a react on on wh ch to buy |