The Washington times., 1915-04-11

Paving little apparent heed to Europe,
save as 4 market for American
nroducts. the United states during the
past week gave the first definite indicaI
tions of the advent of business revival
which las been predicted for several
months.
For the past two weeks the New York
Stock Market, generally considered
barometer of financial and commercial!
conditions had shown a disposition to
seek higher levels. but the activity de-
ve!oped was confined principally to
war specialties''-the stocks Of corpo-
ratons engaged in producing materials
being sought by the European uelliger,
ents-or TO the low-priced railroad
issues. n
on Friday, however, the investing
public which has been nibbIng gingeriy
at the bait for some time plunged head
| long into the trading, and gave impetus
to one of the greatest boom markets
that the country has witnessed since
the speculative days Of 1901 and 1907
The new money did not turn into ;he
speciality channels. but instead sought
high priced, dividend paying rails and
United states Steel an established mar
ket leader.
Fridays sales outstripped any day
since The panicky July 80. when the
shares, and. with that exception, Trad
ing was more active than az any time
since 1911. Prices advanced by leaps
and bounds, the changes ranging from
for the conservative issues, while sew
eral of the specialties measured their
gains in two figures.
One of the features of the stock mar
ket for more than two weeks has been
the activity of bethlehem Steel COM
mon. This stock. which hovered around
the thirties before the war, had been
advs ncing by several points at time
op the strength of reported war orders
placed with the corporation.
| In the middle of the week, having ad-
vanced to 9414. Notwithstanding that the
issue is nondividend paying, the stock
I suddenly slumped as the result Of an
announcement at the annual meeting
that before dividends could be consid-
cred $50, 900 600 or more must be deducted
| from earnings to provide for develop
ment OF ore properties.
| This was naturally expected to check
the activity in the stock. On the CON
! trarN, Thursday witnessed the sAnsa-
tional rise in price to III There were
numerous rumors on the floor to aC-
count for the advance. such as the pur-
chase or control of the company by
Henry c.. Frick and efforts by German
interests to gain control, with n view to
precludng the further. shipment of war
materials to the allies, none of which.
however. appeared worthy of scrious
cons LIBERATION.
Yesterday Berlin dispatches limited at
a more sensible explanation. 1t was
said that the Bethlehem Company has
obtained orders from the allies which
approximate Sl00,000,00o. This vast sum.
if it be nearly correct. would quickly
IL. 4 1.
| Sary, and bring the dividends much
closer than the announcements of Mr..
SChwab and his associates would indi-
cate.
The developments to be carried on by
the company, it is said, include not only
the ore properties in Chile. but the
erection of numerous mills, such as wire
| plants, that will enable Bethlehem to
engage on more equal footing with
the other great steel producing concerns
m competition for general commercial
business.
In the minds Of many there was con-
lecture as to the stability of this mar
ket. 1t was feared that sharp reac-
ton might Immediately follow. Yes
terday morning. however, when the
gong sounded On the New York ex-
change it was found that brokers had
been flooded with overnight buying or
ders' from all sections of the country,
and further advances were recorded.
The volume of trading was said to be
heavier than on any Saturday since
that following the failure Of A. o.
Brown & Co. members of the ex-
change, who suspended business In Au-
ELst, 1905, with liabilities approaching
IS COO
Numerous reasons haze been ad-
Nanced for this sudden squirt IN stock
activity, and probably each has had a
Cciuibuting influence. Some attribute
1t to the peace talk, and, while little
Credence is generally given to the ru.
mcrs of Germany's suit for termina tior
J OF hostilitieS, there Is no doubt that the
frequent recent reports Of peace neeo.
tiations have been accepted by the pub
lie as q hopeful sign.
| Furthermore, the railroads OF the
= fcountry have been issuing for severa
months more promising statements OF
GarnlI gs, the trade journals have an.
nounCed Improvement in mercantile
! liI es and almost inconCeivable sumI
' have been accredited to corporations OF
z lths country engaged in hiling war or,
ders Coupled With these announce