The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-09
SCRAMBLE FOR
BETHLEHEM AS
IT JUMPS TO III
Continued from FIRST Page.


ton OF immediate delivery.
The loan market has also presente
evidence of an unusual demand Tor the
stock. Last night lenders were called
in stock all over the Street. All d'v
long the loan rate was nat. After
o'clock we'll known floor trader w1o
has been doing lot of the buy'ts.
walked into the loan crowd and an
nounced that he would lend as much as
500 shares Of the stock to any ,ne
who had to have IL for IA premium o'
! per cent. Nobody pleaded guilty to
such dire necessity.
Theoretically sealed.
4 trader who was active on the floor
of the exchange said in relation TO the
Bethlehem Steel market: You have
heard all the various rumors in regard
to the rise In the stock just as We have
on the floor Among other things II Is
said that SChwab IL short and also that
a group headed by him OF some one else
has given unlimited orders to buy at any
price for accumulation purposes. We
circulate these rumors among ourselves
on the floor. but none of us really know
anything to go on.
THE fact is that the real inside
workings OF the Bethlehem steel
market are splendidly covered up
In that respect the incident IL like none
other OF the kind I ever saw. Usually
in circumstances like these there Is a
telephone boy. a stenographer or con-
tidential clerk who wants new suit
OF clothes, or a dozen suits or an auto
mobile to supply the inevitable leak.
This time there has been no leak at all,
although there are any number Of people
down here who would give much money
Just TO know who the real principals In
the market are and nothing else. THIS
feature Is remarkable in itself"
4 market similar to that in Bethle'
hem steel In lesser degree has affected
a half dozen other stocks. As these
stocks were Of companies which have
benefited tremendously from the wal
they have become known rs the wal
stocks" one popularity about them Is
that several OF the most prominent arc
non-dividend payers.
Bethlehem steel common last fall solo
as low 40 2a,.. \ month ago II Wa
selling at So. General Motors, another
non.dividend payer. which sold as low
as IS last year and at So in January
Jumped yesterday from 1874 to 1857
Despite the big advances in General Mo
tors and other shares the market II
them has not betrayed the existence u
any short account.
Their, war no doubt about the enc
~ the Bethlehem steel incident upon th'
| mind Of the tinancia community Ever
| early in IN, day the signs Of an M
healthy situation IN tho ma rkct for tina
! stock ver. recognized. At least on
| house in tho morning announced to IL
! customers that Il would henceforth per
Z init no trading in Bethlehem steel o>cep
on cash basis. In other words thus
/ who wanted to sell would have to sppca
with IN, stock IN hand and those VIII
/ wanted TO buy would have TO present tn
whole amount Of the money involved Il
tho purchase
A. regards the market itself price
/ held up We'll m the face OF the antics q
Bethlehem. this seeming To be due TO IN
vide recognition ~ the special reason
| for strength in this stock Just hefor
the close. however. he uneasincss he
came apparent Tho general opinic
vas expressed that unless the situate
vsS cleared up ~ some way or ano;ho
cautious policy would ho advisa bic