Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-30
STOCKS RECOVERED;
TRADING WAS LIGHT
New York Central Strong in
Expectation of Good Earn
ings-"K katy" Weak.

vrW YORK, June 30, Strength devei-
.ssf IN the stock market after an irregu-
tag opsninr, which was followed by SELF
- movement bringing about q moderate
ssoIine in virtually everything on the list.
aood support appeared at the lower level
sad prioes moved UP easily, with the cop
~ shares the features a. far as quiet
.d steadv strength was concerned, but
elth some of tho war speclalties making
ibe largest gains, and at noon prices were
up from to points.
Considerable attention was attracted by
esading on the uplift, and there was per-
astant buying Of that issue. II Ia said
thst there is quite a large short interest
u that stock largely the result Of the
sscllne yesterday. Canadian Pacific.
rhlch has been very weak In the last few
ssys, especially yesterday 1rmed up.
rhe volume of business was not large at
s1y time during the morning, and public
interest was still absent. 1t was the be-
isf IN many quarters that outsiders would
not come In TO any great extent at least
natli the international situation Ia cleared
n Reports reaching the Street were
rsfy optlmistic of an adjustment between
his country and Germany.
in the afternoon the market was quiet,
mi the business was about as large as
toild be expected in view of the ap-
poaohlng holidays, the general opinion
being that there would be three-day re-
cess. Business what there was of 1t, was
nearly all professional. Prices eased off
4 little from the high on profit taking.
hut as a rule the market held Arm, New
York Central was strong, at one time
being UP 1h. Traders we're OF the opinion
that II showed strength in anticipation
Of favorable earnings statement for
May steel was fairly firm throughout
ihe day on more optimistic reports on
ths trade. The Steel Corporation today
announced that three new blast furnaces
had been blown IN during the week.
An unsettling influence that cropped up
m the afternoon was the weakness in
Missouri, Kansas and Texas, that issue
dropping moro than q point. The closing
was irregular. Before the end of the
session there was fresh selling and prices
sagged all around.
While the average price of 101272 real
lied for the new New York City bonds
was somewhat disappointing to the
Street. yet the fact that tho issue was
more than four times oversubscribed was
fayorably commented on in banking cir
cles. Therefore, the sale, taking II all
Ii ell, was regarded as satisfactory on
the whole, especially in view OF the un-
settled conditions throughout the world.
II was considered very significant that
there were so many bids for large
amounts.
There was continuation of foreign
selling today, both of stocks and bonds.
Quite few sales appeared on the tape
ss Sellers 20" and sellers 90," meaning
that the securities were to be delivered
in either 20 or 30 days. The latter pre-
dominated today. The majority OF this
liquidation came from London, as has
been the case for some time past Only
small part OF the foreign liquidation Is
represented by sales of the Exchange in
bonds, as great deal of business is being
done privately.