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Show HEAVY DEMAND FOR ST0O8 ON THE NEW YORK EXCHANGE Total Turnover for the Day Amounts to 1,400,000 Shares, Greatest Since September 27, 1911. By BROAD AN WALL. By International News Service. NEW YORK, Sept. 27. The demand for Btocks today was so urgent that the total to-tal turnover of about 1,400,000 shares for the five-hour session was the greatest since September 27, 1911, Just four years ago. Success of the allies on the western I battle front did much to accelerate the demand for stocks and the shares made sensational advances to new high figures, Baldwin Locomotive being the favorite, with a gain of nineteen points, which placed it at the high figure of 1148. Crucible Cruci-ble Steel" and Bethlehem Steel also made new tops, the former at 103 and tlie latter at 366. While a good inquiry prevailed for the standard rails and industrials, they failed to show any material rains, the specialties special-ties absorbing attention. Steel common at one time was slightly more than a point above Saturday's closing, but lost most of the gain before the end of trading. trad-ing. Brokers said that the buying of this issue seemed today for the first time to be for interests closely identified with the company. Although there was muoh profit taking in the afternoon, the general list closed strong. Inquiry for Bonds. An increased inquiry for bonds was reported re-ported and fully reflected In the heavy dealings In this department, which aggregated ag-gregated about $5,000,000. Baldwin's advance was accompanied by rumors that the Dupont interests were buying stock control in the open market. mar-ket. Gossip also had It that the concern had about $140,000,000 of war orders on which a profit of about 25 per cent would be earned. There was also much buying on the report that Baldwin shareholders would get stock of a new company which is handling the Baldwin munition orders. This new stock was said to be worth about $175 a share. "Vigorous buying of the independent steel shares occurred during the forenoon fore-noon trading. Republic Iron & Steol and Lackawanna Steel touching new tops, the latter being expected to be included in the large independent steel company merger which Is now attracting much attention. at-tention. Republic was purchased on reports re-ports that earnings are now larger than at any previous time and the plants working at capacity. Expectation Is that the 12 per cent of back dividends on the preferred will be paid off in quarterly installments in-stallments and that surplus earnings available for dividends on the common are now at the rate of from 10 to 15 per cent. The company is also understood to be making substantial profits out of the sale of benzol. "Katy" Receivership. Announcement of a receivership for the Missouri, Kansas & Texas caused little surprise. The common and preferred shares, while declining only one point, each touched new low figures. The news came so shortly before the close of the market that it did not have time to show Its full effect on the shares. Eleventh-hour Eleventh-hour liquidation is expected tomorrow. The writer learned that the receivership proceedings were decided upon at a meeting meet-ing of directors held Saturday morning and were precipitated by noteholders who would not extend their notes last May and who, upon learning that new bankers were considering going into the property, thought the time opportune to enforce the,ir claims. As the special committee appointed to consider readjustment of the company's finances decided at the outset to put the company in receivership rather than permit the undeposltlng noteholders to get any advantage over the depositing noteholders, today's action followed. |