OCR Text |
Show MORE NEW HIGH RECORDS ARE MADE IN WALL STREET Traders Have Quit Figures and Are Paying Attention Atten-tion to Human Interest Side of the Market. By BROAD AN WALL. By International News Service. NEW YORK. Sept. 12. Professional traders went to Wall street to.iay with the idea or discounting the good news from Maine, according to the t hue-honored rule of the street. Thev were surprised sur-prised to find that most people, in Wall street were mote anxious to buy than to soil. The result, was another long list of new high records. General Motors, which sold at plain 37a at the beginning of the war, advanced ad-vanced today r.2 points to the new high record of 64. Bethlehem Steel, which sold at 29',2 when the war began, added 24' points today and sold at 524'. More modest gains were made in other directions. direc-tions. United States Steel established a new high record at 105V Atlantic, Gulf & West Indies at SS'.i- and United Verde, which sold at $2.50 a share only last year, crossed $45. Earnings reports were issued by various vari-ous companies that justified all that was done and more. Wall street is getting tired of figures and beginning to pay attention to the human-interest side of the market. Getting Well Started. Although today was the twelfth million-share million-share day. persons in close touch with what is going on in the street believe the market is just getting well started. Of the reports that Interfered with the reaction those of the American Smelting company were the most provoking, for they seemed to show that the company is earning- at the rate of more than 30 per cent annually. The stock went to 10S. This is the highest figure for many months. Copper shares were not active. but traders who sold found fnt o buvinc orders in the market T he allies are still difkerinp for a big block oi tin. metal and they must have it soon. i ne oor.nera can earn whatever they please this winter, tor it is just a matter of, cons-'iem-e what they charge for the metal wanted bv Europe. Of the earnings rumored, but not reported, re-ported, those of Mirtvale Steel were most alluring. C. M. Schwab, head Brthle-liem. Brthle-liem. and W. E. Corey, head of Midwiie, are boih t'arnecio boys. The street Meais that Schwab is turning over to Mldvaie some verv important orders that he is unable un-able to handle at Bethlehem. Probably Has Interest. The report does not specify whether Schwab has any interest in Midvale. but he probablv lias, furthermore, it Is reported re-ported that Republic Iron & Steel and Railway Steel Springs are wanted to round out the Midvale concern. No ot-ficial ot-ficial information is forthcoming in regard re-gard to these rumors, but they are believed be-lieved in good quarters and the buying of the various stocks suggests something more than mere manipulative news. Judge Garv's trip to Japan iR looked upon as highly important to the steel corporation. He is credited with being the agent of high finance, empowered to make a business deal with too mgn finance of the east in regard to steel mills. Since the Japs persist in being such wonderful experts, the idea is probably prob-ably conceived of letting American stockholders stock-holders get some profits out of then skill. With the two countries mutually profitable to one another, there may be less talk of war and less reason for it. |