Evening star., 1915-04-11
Bethlehem Steel Falls.


one point loss. on dealings in excess
of 100000 shares.
Bethlehem Steel Falls.
Bethlehem Steel was the sole excep-
ton to the general tendency. falling
back . points in the early dealings and
increasing this loss to points. At nc
time did it figure Importantly in the
days operations. Motor shares, while
strong, also lost some of their recent
prominence.
Harrimans. the anthracites, Atchison
Canadian Pacific, Pennsylvania and
New York Central rose l to 22 points
but failed to hold. Rock Islands fever
ish course reflected next weeks meet
ing of the shareholders by rising al
most 4 points, all of which 1t SubSe-
quently lost.
The March statement of the United
States Steel Corporation, showing a de,
crease of 1882 tons in untitled
month, came out as the market
was closing. The figures upset most
calculations. a slight increase hav-
ing been expected. Other general
news included the weekly review of
trade conditions, in which distinct inn
provement was noted.
Total sales of stocks amounted to
$3.50 shares.
Bonds were strong, but failed to
keep pace with the movement in
stocks. Total sales (par value) ag-
gregated S2,761 900.
Panama coupon and registered IS de-
clined " per cent on call during the
week.
Sensational Market Week.
Causes more or less well defined
made this week one of the most sen
sational stock market weeks of recent
years not only as to activity, but in
the rise of quoted values as we'll. The
dominant features were the continued
advance in Bethlehem Steel to its new
record price of III, even after the di-
rectors failed to act on the dividend
and the sudden move in United States
Steel, which carried the balance of the
list with it.
At it's top price OF 5s. scored in the
course of today's furious activity.
United States Steel showed gain of
points over it's quotation on the day
the dividend was suspended and ex-
actly 90 points over the final minimum
imposed by the stock exchange au-
thorities after that episode Convinc-
ing explanations for the rise, aside
from betterment in the steel industry.
are still lacking; but powerful lever
was found in the large short interest
stock Undoubtedly much Of Bethle-
hem Steels rise was due to a similar
cause, the short interest there being
much more vulnerable because OF the
small supply of stock available for
speculative purposes.
General Outlook Cheering.
| however, 1t was evident that public
II
awakened in various quarters. Plethora
of funds in all parts Of the country,
the phenomenal growth of the coun-
try's foreign trade and general i'm
provement in the domestic situation as
reported by the government officials
were factors too strong to be ignored
Crop prospects, as disclosed in the
| latest tabulations from Washington,
added to the growing feeling Of op-
| timiSm.
Railroads submitted additional fa-
vorabIe reports for the preceding
| months. both as to gross and net re-
turns, even though some of these were
effected at the expense of maintenance
| Demand for equipment remains disap-
| pointing, but financing now under con-
sideration will, it is thought, result in
| the placing of orders on a large scale
| The failure of large department store
| in this city was regarded as an echo
| of last years commercial depression
| rather than symptom of prevailing
| conditions.
Large Steel Export Orders.
| Large export contracts for rolled
| steel this week again compensated do
mestic mills for a further loss in do
| nestle orders and higher prices were
| obtained on foreign sales Since Apri
! export orders, outside of war muni-
tions. have aggregated close to 100000
| tons. War orders alone have called
for 1875 900 tons Of bars In March ex.
port contracts averaged about 40 pei
cent of total sales: with the steel cor.
poration the average was higher. II
| normal times export sales do not ex.
| ceed Is per cent of total bookings.
The output OF pig iron since January
has increased A. per cent, production
or rolled steel has gained 38h per cent
| In March the steel corporation ship
day while sales averaged 10000 ton.
per day. resulting in a decrease Of 50,
622 tons in untitled orders.
The Southern Railroad Company or.
dered 300 tons of rails. the Buffalo
Rochester & Pittsburg bought 1906
tons standard sections, and industria
roads took 5000 tons light section.
from domestic mills. Two western
ROADS ordered 5000 tons each from tn.
Algoma mill. Nova Scotia plant will
roll 10000 tons for the Union road o.
south Africa. and the Buffalo mill viii
| furnish 10000 tons for France More
large export contracts are pending
Car and locomotive orders were insig
| nificant
Steel building work was slow. TIL,
fabricating shops took orders for 100,
tons steel shapes. The Pennsylvania
railroad ordered 900 tons and the lie
high Valley 400 tons OF bridge work
The Nickel Plate took bids on 200,
tons. Tenders were submitted on tn,
construction section four Of routes fou
and thirty-six OF the 7th avenue
i subway. calling for 1000 tons of struc