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Show STEEL CLIMBS TO HIGHEST POINT TOUCHED LAST TEAR Wall Street Operators Encouraged Over Belief That There Is to Be No Railroad Strike, as Threatened. By BROAD AN WALL. By International News Service. NEW YORK, Aug. 15. Steel sold today at which is the high price touched in the boom of last year, and when Maxwell Motors rose, in spite of the decline in the dividend. Big leaders have been accumulating accumu-lating stock all summer. The public has been waiting for higher prices, apparently not believing that the reports of earnings were true. Now the oft-repeated opinion of bank-i ers that the boom in business is to continue con-tinue for an indefinite period and that there is to be no railroad strike seems certain of fulfilment. Part of today's strength was due to the expectation that the British loan would be announced within a few days and possibly tomorrow. That will please Wall street, because there will be no danger dan-ger of repudiation, and a default of the borrower will be more satisfactorv than payment of the loan. In view of the collateral col-lateral that would fall into the hands of the lenders. That President Wilson Is determined to have no strike was to Wall street's satisfaction. sat-isfaction. Uncertainty regarding tho strike has been depressing In the Mexican Mexi-can stocks. Union Pacific and Reading were among the leaders today, chiefly because the Insiders In-siders of these companies finally realized there would be no strike. The running in of shorts in the motor stock continues. Maxwell and Studeba-ker Studeba-ker were the ones selected for today's operations and both did well in the market. mar-ket. Motors were helped by Mr. Dnrand's statements that be bad no idea of surrendering sur-rendering control of Chevrolet. Marine common sold at 2$V4. which is the highest price ever touched. it has not a dollar of physical assets. If the war should end suddenly, however. Marine common would suffer sharply. Every person buying It should realize that fact. Coppers were quiet, but as soon as the British loan Is announced it is understood that heavy purchases will be made for the allies and then the coppers will have their day in the market. |