The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-04-09
BETHLEHEM FURNISHES
SENSATION OF DAY
Avfnara In Spectacular Fashion Cos-
Ing NJ Net Gain For Day of
Seventeen Points.
sEEK THE REASON FOR RACKET
Somc Believe Bcthlchcm's Gyrntions
Arc Caused by Attempt of Certain
Large Interests to Procure Control
cf Company.

New York. April s--Any stock
market. which, after rapid rise OF
considerable extent. can stand such
tests of heavy selling and excited
speculation for the rise as have been
applied lately. has good deal OF
vitality and essential strength. The
further response which the share list
makes TO the latest trial OF it's en-
drrance. the violent ascent of Beth
iehem Steel late today, VIII &C
cordingiy be not only interesting. but
may be instructive.
Powerful factors have been at work
to influence Improvement in quoted
values OF corporate shares and even
though the spring rise has not lacked
signs tina; IL was making an extrava-
giant appeal to purely gambling i'm
pulses that movement has In the main
seemed to reflective observers to be
justified by conditions. Nothing else
could explain the way In which seli-
ing pressure has been resisted and
overcome and advance was continued
against episodes in the marse. Itself
would ordinarily tend to discourage
constructive efforts
Bethlehem Avtates.
The test To which the market was
subjected today principally by the
course OF Bethlehem Steel seemed
likely TO develop its position quite
adequately. The stock started up
ward In the early dealings and by
indigestion had risen more than four"
teen points from the opening This
was In addition to an advance OF
about fifty points since the reopen
ing OF the Stock Exchange. Late
in the afternoo the shares took an
other rapid flight and sold t1ore than
fourteen points above the mldsession
figure q total rise for the day OF
twenty-nine points Subsequently
there was sharp break. but the
close was made at net gain Of sew
enteen points for the session. 1t
goes without saying that the rest OF
the market was unsettled Ivy the per
Torrance Of Bethlehem Steel, and
prices sold off rather sharply all
around In the late dealings. but al
though the tone OF the market was
nervous at the close, the list still dis
played underlying nrmness which
was more or less impressive evidence
of its fundamental strength.
Indulge In Speculation.
Various stories, none Of them new,
were circulated TO account for the
Bethlehem Steel racket. They ranged
all the way from all interests Of
some interests to acquire control for
the purpose Of merging the Bethle-
hem Steel Corporation with another
concern, 70 plan for the declaration
OF substantial stock dividend
against the equities which have been
accruing to shareholders from the
large amount of earnings put back
into the property in the last few
years
Whatever was the cause of the
demonstration in Bethlehem Steel IL
is worth observing that In various
Wall Street quarters tonight the
question was asked II seif-interest as
well as the public interest did not
cali for Stock Exchange action to
assure "a more orderly movement OF
prices when stock or when stocks
disclose a situation which might be
getting beyond tho control of the au-
tomato processes by which the mar
ket Is customartly regulated.