Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-15
CRAMP SHARES CLIMB;
CAMBRIA IRREGULAR
Early Advance Encountered
Profit-taking Sales-Trac-
tions Inclined to Improve

A feature OF the late dealings in the
local market this afternoon was a sudden
outburst of buying orders in Cramp Ship
building stock, which lifted It by leaps
and bounds from the last nights closing
price OF 81 to s7%. Considering the extent
OF the rise, orders were not large, 1t only
requiring the purchase OF some 1900 shares
to accomplish the advance. No particular
news was Forthcoming except hopes OF
large additional orders for ships. The
buying was said to have originated IN
New York. The gain was not fully main
tained at the close.
Electric Storage Battery eased of
trine, doubtless because of disappoint-
ment over the declaration OF the regular
quarterly per cent dividend. Some, had
hoped that the rate might be raised when
the stock recently ebcame buoyant.
Except for fair amount of activity In
Cambria Steel, light trading and narrow
fluctuations were the rule on the Phila-
delphia stock Exchange today. Cambria
was well taken and moved up moderately
on buying said to be chiefly for New
York account. The Street naturally re-
CARDS the stock favorably In view of eX-
listing conditions in the steel trade and
the announcement of the anticipation OF
the 1917 note issue
Nevertheless, there has been a good
deal OF investment selling of the stock
by those who have held 1t for years after
purchasing 1t in the twenties, and reel
that the record level it has now attained
must discount almost any favorable de-
vclopmcnt.
At going quotations the stock yields
less than many high-grade bonds. Reali-
cation of THE may have caused the SELL
ing movement which developed in the
afternoon and not only cancelled all the
earlier gain, but caused the decline to
extend about point below last night at
the close. on the other hand, Pennsyl-
vania Steel preferred, Baldwin and Brill
displayed a tendency to harden.
The local traction issues again showed
a disposition to improve. 1t Is thought
earnings from now on will be on the
uptrend. The elimination Of jitney COM
petition and the gradual increase in In
dustrial activity hereabouts are the stim-
ulating factors. This was borne out to
a moderate extent by the August earn
ings, given out today. although the full
benefit of the jitney elimination will not
be reflected until this months earnings
appear a gross decrease of about $4,000
was converted through reduced expenses
into a net gain OF about $4,000. There was,
however, a deficit for the month of
1892. In August, 1914. the deficit was
$6Sn. For the two months, though, a
surplus was shown of S22, 692, compared
with deficit of S26ll in 1914.
Philadelphia Electric was not affected
by the announcemnt that City Solicitor
Ryan was prepared to represent the city
in opposing the application of the Phila-
delphia Electric Company and the Key
stone Telephone Company for ratification
by the Public Service Commission of an
agreement between them for the renting
of the surplus conduit space to the Trac-
t!on Company.
The hearing is to take place next Tues
day. and the question has been raised as
to the right of the Department Of Pub
lie Works to intervene in this action with
out authorization of Councils.