Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-23
RlSE IN RAILROADS;
WAR SHARES SAGGED
nsferrlng of Panhandle Divi-
dends Offset by Usual Decla-
rations by Other Companies.

Srw YORK, June BIT was agar
- ~ the railroad shares to furnish tn,
~ trading on the Stock Exchang,
,.isv, while the industrials, or the so
P,,4 aUar stocks" were relegated tc
s.okqround. for the moment at least
,,ents IN the railroad group, aside
~. canadian Pacific, which was agar
ll.ssed selling at the lowest point
l.s n was put on a 10 per cent. dividend
. down 2h points at 1i7%, were all
ttrbar levels. The war stocks. %
sh they we're the most active. were
us,asd 10 seek lower prices Therefore,
Y. sstion of the railroad issues held tho
esrtet from a general reaction.
.ghas been the custom here of late,
.,.saily during the last week. the mar
y, started off with a show of strength
n .round and trading was active This
Y. not Of a lasting quality. however.
VA hefore the session was very old quite
,,res amount of selling appeared. This
y. rsadliy absorbed for time, but It
s'.- had the effect Of dropping values
.hs fail of Lemberg into the hands of
a.. Austro- German armies may or may
Y, bavo been responsible for the selling
,.,vement but the chances are that IL
~, moi 10 any great extent as the can
~ AZ the town had been expected, and
esr.fore II was discounted in large
rsssure. To offset the defeat of the Rus
ssns at Demberg the French announced
As capture Of Sondernach, which is CON
aiered rather important In the present
srlvn Of the French. It would seem
IRE probable that the liquidating move
aent was brought about by the selling
American securities from abroad
srlucpally by English holders, both for
n, purpose of strengthening the for
I'm exchange market and with the OBJ
tct Of taking up some of the new war
can Foreign selling has been drlb-
ling into quite a large amount in the
H few days.
70 mention some of the movements of
hcts, Reading, Lehigh Valley and Della
gare Lackawanna and Western. or the
callers. were the most prominent. Lack
,Fanna, which advanced s points in yes
t1dRy's trading, scored further gain
Il points today. There now seems to
Y well-defined opinion in the rank and
No Of traders that in the separation of
he coal company from the railroad COM
piny as ordered by the United States Su-
pcme Court, substantial melon will be
uL This argument was also used on
Reading, against which Government
tcal trust suit Is now pending, the opin-
hn being expressed that in the event of
4 victory for the Government the chances
we're bright for a good-sized melon for
he Reading stockholders, Reading was
W II and Lehigh Valley ~ before mid
hE
As mentioned before, the war stocks"
we're weak, the largest decline being reg
lliered by Baldwin, which sagged nearly
hree points during the first two hours.
General Motors furnished an exception,
E,ning nearly 1h. Securities of the Min.
n,apolls and st. Louis attracted atten-
ton The company's common stock rose
~ the preferred 4 and the 4 per cent.
bonds more than 0 points before noon.
peferring of dividends by the Pan
handle subsidiary of the Pennsylvania
Railroad hardly caused ripple, as 1t was
'lset by the regular declaration by the |
aren't company. Pennsylvania Com
lany, all the stock of which is owned |
" the Pennsylvania Railroad, and NIichi- |
nn Central increased their payments.
virtually all Of the railroad shares |
rmained strong throughout the aft |
moon, because of favorable dividend |
idons, while the war stocks" de- |
sned further. General Motors, which |
"a been strong, turned heavy, as did the |
herb0rough- metropolitan shares. Heavi- |
lsas Of the latter seemed to result from
acertainty as to whether stocks of the
tR company would be listed Immediately.
lgnolk and Western and New York Cen
"A declared the regular quarterly divi-
saas Panhandle stock did not sell to-
ay The market closed irregular. with
ne railroads strong, while the coppers
90 war stocks" were Off