The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-04-11
INSIDE SPECTATORS
REAP RICH HARVEST
Steel Common Hits New High Level
and Public Showed Great
Bnying tNpaC1ty.
BETHLEHEM tyRoKE Is oNER
Schwsh'S Pet Takes Back seat While
steel Trust Securities DO tho HS-
~aftnE--Riss~ Causes fAquidafinps-

New York, april in--fbc day
on the Stock Exchange began
with repetition OF the almost
hysscyfcaI buying movement that
Sens pritss sky rosjScting In the
last half of tho session on ltf-
day. There was huge atT'umu-
tation of hu,lne orders ON hand
at the oyentng. and in the hr>t
tigyccn minutes of trading new
high prices were made all along
he line. steel common rosr to
new high price of -. Activity
was uu an even larger scale than
ttit. day before. Bur a check {"
the advance was soon admins
tered hy Il flood Of profit taking
sale from all source.
steel dropped back fwo and
half points. and io~~Ns aSGfaG-
ing from enc ~ tno points "cf'
made Ia The other leaders. Dur
ing the remainder of the session
tic trading wa hjGhi, confused
With trte1 tslar cbanec- in prices.
TT the market failed go make
braa4tas against ia, -rliiuk. ~
leasg there was ~uFt trut new
hmysu- "a prevent tftE appear
snec cd positive weakness
EMe H. .r HEase IN tile ina lHei N&S
IS staaa broadening teTdergY- Inc
spe ese< 81 nich figured so prom d
gently in Jae ear P5Tt - the wees
sooG p baeE srat Bethlehem steel
aas s4.te 5aact-se- It vas steel
MARIE S. sizes Is. afser all the
real leader Nu1ll-sr steel st3Vs
.fyed #n irara reasonable w4y than
Il dsa on FRIDAY. "a ben it, rhrnoHe~
aR.iv s,e.ff rise tended - excite mis-
80
Iaule News Of Market Tearing,
There Vas lttte news during The
.iay with market bearing benia :
f~ens Washington and eise7 aere ef
he peace rBuors and also az Inc
story tnat the Government sa}L
against the American Can company
lad been dissolved both Of winch os-
sensibly had something So do WITH
fhe rise en- FRIDAY. eNefted no visible
effect So "a the steel tonnage state
ment issued after The elose 81 The
market showing decrease - s@-
s22 tors prov okea conparatsHtly lit
tle discussion TIE financial district
mad been mere ~ less prepared faf
-S3tperf,icial1Y less favorable steel
aguree.
As regards the immediate future
course If The stoeK market u}4doupt-
.edlv rae technical position has been
weakened hy big increase ia me
floating supply following the steSliihs
rise la prEees There has been 81
partial exiting aishmeut OF the short
interest The market has risen 10
level where 81 il found 70 induce
profit taking on huge scale by
SPECTATORS ana investors who got
I'M at the bottom feN weeks ago.
Already the rise has caused n 4qui-
dalton OF the old speculative position
open In London when the ~at broke
cut. and which has since been frozen
~ Eut selling from this source VIII
not continue iudefniteiN How large
total of these accounts remains
canf5af be estimated, hut tho position
was probably ont ver} big ono II
tho beginning Nevertheless, the pub
.ic's willingness or capacity 10 follow
prices ip will he the real determin-
Ynr factor It's response next week
il expected 10 shed Light on this
score.
oNcrshadows All Else.
Events IN the stock market over
shadowed ali other financial constd'
.rations last week The news viii
ii financial application was uniformly
favorable.
In the stock market what now
appears To have been the culminatIor
of an extraordinary movement rep
resentlng buying up OF Bethlehem
steel stock was the real sensation