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Show SUBSTANTIAL GAINS ARE RECORDED EST R. R, SHARES Although Industrials Are Disappointment Speculative Specu-lative Wall Street Is Gratified With Strength of Rail Stocks. By BROADAN WALL. By International News Service NEW YORK. Sept. 3. Althougn the Industrial shares moved In a disappointing disappoint-ing manner today, speculative Wall street was gratified with the strength and activity of the railroad shares, substantial sub-stantial advances being recorded for the first time in weeks. The betterment in the rails came almost eimultaneolisly with announcement that the interstate commerce com-merce commission had decided to postpone post-pone the date on which the lower anthracite anthra-cite rates were to go Into effect from October 1 to December 1. A flirna undertone was in evidence at the beginning of t lading today, but after the first few minutes the market again ran into foreign selling, which wiped out the fractional gains and recorded slight losses. Advances Are Made. The rails were taken in hand during the noon hour and advances of from 2 to 3 points were quickly made. Their strength Imparted sympathetic Improvement Improve-ment to the Industrials, but the rally was only short lived, stocks being In supply sup-ply on the bulges In the last hour. Closing Clos-ing prices were around the lowest and there was much curiosity as to whether the reported sinking of an American lumber lum-ber boat by a German submarine would result in a weak opening tomorrow. Electric Storage Batten, continued to work higher, at one time showing a gain of -I points. Interests familiar with the affairs of the Electric Boat deny that the company "is purchasing its batteries from the Electric Storage Battery company and that a merger of the two Is contemplated, contem-plated, hut past performances have shown that the insiders of the war stocks know little about reasons for advances in their stocks until the shares are at record prices. , , lit Missouri, Kansas & Texas dlsplajs little lit-tle activity, notwithstanding that 8UD-stantial 8UD-stantial progress looking to the formation forma-tion of a plan for remedying Its financial finan-cial problems has been made and mat new interests mav take hold of the property. prop-erty. Requirements of the Missouri. Kansas Kan-sas & Texas for taking care of present indebtedness asgrcgate about $2o,n00.000. but it would seem useless to finance OIU these needs without providing for Lie future, so that the new plan Is expected to call for the raising of a sum in excess ex-cess of $25. 000.000. The new money will probably be raised through a levy on shareholders. Anaconda Disappoints. The failure of Anaconda to make good the recent tips is causing some disappointment, disap-pointment, but the pool in the stock Is understood to be extremely wealthy. The Amalgamated Copper company has been dissolved and its shares stricken from the stock exchange list. In doubling doub-ling the par value of the Anaconda stock from $2o to $S0, the directors, in addition addi-tion to providing an easy medium for the exchange of Amalgamated shares for Anaconda In the Amalgamated's treasury, treas-ury, also prevented the market for Anaconda Ana-conda from helng swamped by the release re-lease of the Anaconda shares. In the face of the good news recently announced regarding copper, the absence of strength and activity in Anaconda seems unnatural. Anaconda Is understood under-stood to produce at 9 cents a pound, so that, with the metal selling at IS cents a pound and the company producing at the rate of 300,000,000 pounds annually, as proposed by the management, statisticians statis-ticians figure that it should be earning about $25,000,000 a year, or more than $10 a share. |