Evening star., 1915-06-26
STOCKS CLOSE STRONG;
BONDS ARE IRREGULAR
Reading Is the Feature Of Short
Session Market, Advancing
Three Points.
Rubber's Further Decline Is Partly
offsetting Infuence-Rails in
Fair Demand.

NEW YORK, June 2o.-headas was
the feature of today's market, aoFahc-
ing points No definite news accom-
panied the rise. but the familiar rutnor
Of a possible distribution of assets' re-
sulting from the recent supreme
Courts coal decision. was again cur
rent.
Lehigh Valley. Union Pacific and "a
madam Pacific were in fair demand at
gains of a point or better
Steel. Amalgamated and American
Smelling. with few war and motor
shares, improved correspondingly.
Rubber Loses ID Points for Week.
These gains were partly offset by
further decline of 3 points in Rubner'
making loss of IA points for the week,
and recurrent weakness in Missouri
Pacific and Rock Island.
The closing was strong.
Bonds were irregular.
Aside from further weakness in MIS-
souri, Pacific, which declined point
to within fraction of it's low record
but soon recovered, trading in stocks
at today's opening was virtually fea-
tureless.
Dealings Are Contracted.
Dealings were contracted. with slight
gains in the better-known issues, in
Guiding United States Steel, Amalga-
mated Copper and some of the more
speculative industrials.
United States Rubber opened at a
moderate advance. but soon reacted on
fairly large offerings.
Elsewhere further improvement was
recorded. Reading and Canadian Pa
cific rising point each.
Weeks Movements Uncertain.
The movement of stocks this week
was mostly uncertain, with undercur
rents of heaviness in the later deal
ings This was particularly true Of
the securities comprising the south
western group of railways. notably
Missouri Pacific. Rock Island. Missouri,
Kansas and Texas, and Denver and Rio
Grande All these issues registered
severe declines due mainly to uncer-
tainty regarding their future.
Other securities, including high
grade investment issues, were under
frequent pressure as result Of fur
ther foreign offerings caused by the
issuance of the huge new British war
loan. Domestic war specialties were
comparatively heavy and inactive, and
coppers lost more of their recent ad-
vance on continued shading of prices
for the refined product.
United States Steel and allied shares
were hrmer than other industrials on
the steady improvement in the trade.
The mills of the large companies are
working nearer to full capacity than
at any time in recent years, and indi-
cations point to a substantial increase
in earnings of the steel corporation
for the quarter now expiring
Foreign Exchange Factor Again.
Foreign exchange was again a factor
of importance, all European remit
tances disclosing greater weakness.
with some belated recovery in London
bills on additional gold imports from
Canada French and Italian exchanges
were at record-breaking discounts. the
decline in the Paris rate being the
more confusing from the fact that the
new French loan made by our bankers
was supposed to neutralize sales of bills
Of Paris.
Crop news was variable with signs
OF more deterioration in the southwest.
Railroad earnings were mixed, with no
marked gain in tonnage at leading
traffic centers. Monetary conditions
show greater ease--a logical outcome
of the enormous supplies of cash held
by reserve institutions in all sections
of the country.