Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-05-25
one TO THREE POINT
LOSSES SHOWN AT END
Republic Iron and Steel Shares
Dropped When No Action
Was Taken on Dividend.

>,ry YORK. May 25.-The volume OF
,t,iInqs on the Stock Exchange today
p,oyred a marked falling off, and there
- very little interest taken in any
,,s,e Cables from London reported
NC same state OF affairs existed
,sere and before the opening of
.... market London sent over a list of
,u,r.r prices The Exchange there was
~ TODAY for the first time since last
vr,day when 1t closed for the Whitsun-
Ia holidays. In view of the fact that
,Ssre was very little news Of import, the
s,r,st fell back on the belief that very
,,,,Ie would be done until the German
rsniv is received. Reports had 1t that
nc answer from the kaiser's Govern
nent would be received along the latter
nart of the week.
mo opening, and transactions generally
r.ro Mt the cost OF prices. Speculative
,.,stest was almost entirely absent
Valves were, as o rule, a slight fraction
under the Anal of yesterday, while In
some cases the losses were greater. On
the other hand. several of the minor
inaustrials made substantial gains. In
,SIs group was Republic Iron and Steel
which rose more than 1i5, Some strength
-sa also impaired to the equipment
Il ,bares From the low there was slight
,aily in some issues, but II amounted
~ very little, and the market remained
Anil throughout the morning session.
trading continued to lag in the after
moon session. There was no increase
in demand, and the same waiting attl-
,,ide Of the morning remained In force
and the list was irregular. News that
the directors of the Republic Iron and
Eleel Company had taken no action on
the preferred dividend, as had been
rumored, caused break In the pre-
forred stock of points from the high.
and the common declined in sympathy,
showing loss OF more than 2h before
2 o'clock
After the meeting of the directors It
was announced that the dividend had not
eyen been considered and that there was
no basis for the rumor that one would
be declared today. The Street had II that
payments would be restored at the rate
Of iX per cent. No dividend has been
Maid by the company since shortly after
the European war began. The earnings
OF the company have been making a
good showing since February, and II Is
understood that the income is more than
sufficient to pay the regular rate on the
preferred.
The market closed weak, everything
on the list, with few exceptions, showing
losses as compared with the final yester-
day Losses ranged from one to three
points.
Delaware, Lackawanna and Western
sold for 4O4, decline of 10 points from
+. the last previous sale.
In the batch of news which came out
during the day the most important was
the announcement by Secretary Redfeld
that the foreign trade balance in favor
Of the United States from the first or
last August until tomorrow would ex-
ceed 5000 ZOO, 900, an amount never before
heard Of in our foreign trade, and this
Il being constantly added to, although II
3 ls realized that the entrance OF Italy
into the war will cut down our exports
= 10 the Teutonic and scandinavian ma
ions. II is pointed out that the demands
which Italy will make on the United
states from now on will make up for all
losses on this point. The belief Is that
the trade balance will finally reach the
hilhop-dollar point.
The Baltimore and Ohio earnings for
April, which is the second large Eastern
system to report its income for that
month, the Lehigh Valley being the first.
did not make a very good showing, and,
but for the fact that operating expenses
we're judiciously pared down, the road
would have shown a decrease in net, as
the gross earnings for the month fell
sN5sSlS behind the same period of last
year BY cutting expenses the road was
enabled to show an increase or Sl92,i4o IN
net. The ten months gross was sS,594, 1872
{ behind the preceding year, while the net
was 1853, 43s larger. The company's stock
was little below yesterdays close.
The Southern Railway showed a de-
crease of S5S9,S61 in gain for April but
there was an increase of $l04,l24 in net
The 10 months showing was poor, how
ever there being a decrease In both gross
and net, the former dropping S7,35S,739 and
the latter s3,65s,S05
The outlook for the Missouri Pacific is
more rosy than 1t has been for quite
while. 1t is now believed that the road
viii succeed i'm escaping receivership. Be-
tween S130OO,0OO and S15OO0,0OO out of $2S,-
oo0O0o of the notes which mature on June
have been deposited with the Union
Trust Company, under the roads recent
offer TO noteholders to extend the notes
for another year at commission or
half Of / per cent. OF the total al
READY deposited are the 100000 holdings
q the Gould estate and those of John d,
Rockefeller.
It does not. however, include those
owned and represented by Speyer & Co.
This amount is believed to be between
100000 and SiOOO,OOO AS yet the Arm
has given no intlmatlon as to what 1t
Will do, The officials of the company be-
nsye that deposits will now come in rap
div