Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-15
INTEREST CENTRED IN
LOCOMOTIVE SHARES
Good Advances Made by Ameri-
can and Baldwin - Public
Demand Still Large.

NEW YORK, April Million-shart
days are becoming quite common on tho
Stock Exchange, and today more thar
this amount changed hands, with tn,
public again the largest taker, demand
from outside sources being large. Dur.
ing the morning session there was some
hesitation and quite a little realizing
but offerings were well taken and the
market showed good absorptive power
Some concern was felt in the street over
reports that japan had established a
naval base in Lower California on Tur-
tie Bay, but when this was denied from
Washington and from the Japanese En-
bassy at the capital, the market rallied
sharply and demand became large. good
sized advances being made throughout
the list. 1t was denied by the japanese
Embassy that japan had any intention
of securing naval base on the Mexican
coast
Total sales were; Stocks, N.27S,6OO;
bonds, A.O0O,OO0
As an explanation of the hesitation of
the market in the morning session the
street offered the advance in the prices
of grain in the Chicago pit. saying that
this probably meant the prolonging OF
the war.
Chief interest today centred in the
shares of the American Locomotive Com
pany and the Baldwin Locomotive Com
pany. the former advancing more than
eight points and the latter more than
seven points. The rise i'm American was
based on the report that the company had
closed big contract with the Russian
Government for war materials. There
were also reports that Baldwin would re-
ceive some of the contracts being given
out by the European Powers, but this
was denied by an official
Railroad stocks were inclined 10 heavl-
ness, but maintained a level above the
close OF yesterday No sales of Penn
sylvania were recorded on the tape in
the morning session and did not open
until the afternoon session.
Strength was shown in the lnterborough
Metropolitan issues, the common at one
time being up a full point and the
preferred more than liz. The explana-
ton of the strength was the old report
that dividends were to be resumed on
the preferred stock The report had it
that there would be n stipulation that
the preferred shareholders would aban-
don the dividends that have been piling
up during the last few years. An cary
announcement of II plan was expected.
United States steel showed heaviness
during the morning. but around midday
advanced UP to the final of yesterday.
Bethlehem Steel again devoted the day to
jumping around in an irregular fashion.
After being points above it fell be-
low yesterdays final. The market closed
irregular.
The quarterly report of the Lacka-
wanna Steel Company for the period end
ing March 81 was a dscouraginG docu-
ment as far as the income account was
concerned. but it did show substantial
Increase in orders on the books. The in
come was but s27.432 against st54,9 996 in the
same period last year, while the total in
come for the period was S96.9l0, against
s23G,0H There was n deficit of S5G5,I59,
compared with si45.2O7 last year.
, Unified orders were 33,OS2 gross tons
larger. that item standing at 9,01O gross
tons, which indicates that the steel trade
II gradually becoming better.