Evening star., 1915-06-12
IS ACTIVE AND STRONG,
BUT CLOSES IRREGULAR
Stock Market Rise Is So Largely
With Specialties as to Lack
Conviction.
Leaders Are Inclined to Yield Under
Pressure. But Metals Advance in
Varying Degrees.

NEW YORK. June 12.-To-day,s stock
market wa- active and strong. but the
rise was so largely restricted to spe-
cialties as to lack conviction.
Issues comprising the Gusgenheim
group were the early features. Federal
Mining common and preferred making
maximum gains of 20 and = points. re
spectively, from which they soon re-
acted
American Smelling and Gnsgenheim
Exploration also added to recent gains
on reported sales of copper at ."'2
cents and lead at cents
Bonds Are Steady.
Other metal shares rose in varying
degrees War issues. notably Rethle-
hem Steel and New York Air Brake.
advanced = to ) points, later falling
back.
American Can and Central Leather
became active and strong in the hnal
hour. Speculative leaders were in
clincd to yield under pressure. The
closing was irregular.
Bonds were steady.
Active Trading at Start.
Active trading in stocks AT higher
today's short session. war issues again
leading, with gains of l to points.
Bethlehem Steel. which advanced to
within fraction of its record quota
tion: New York Air Brake and the
coppers were in especial demand ex-
tending their advantage materially be-
fore the end of the first hour.
Investment shares in the railway
group also scored substantial ad-
yanceS.
United States steel on an opening
sale of 500 shares rose q.
Coppers and Metals Lead Week.
The week in the stock market was
replete with interesting developments.
Secretary Bryan's resignation and the
Presidents latest note to Germany
being the outstanding features Mr.
Bryan's withdrawal caused some un-
settlement at first, but prices We're
more than adjusted later, Yesterday s
final quotations being the highest since
last Friday! when the federal court
absolved the United States Steel Cor
poration from all illegal acts.
AS group coppers and metal shares
in general made greater gains than
any other issues, their continued ad-
vance being predicated on the enor-
NOUS demand for these products. which
enter so extensively into the manufac-
ture of war supplies. Refined copper
sold at 2ol4 cents. it's top price in eight
years, and lead. at 81. to I cents. rose
to its highest price in three decades.
Bethlehem's New Record.
Among war specialties Bethlehem
steel achieved the new record of 1897
and General Electric, Westinghouse
and surdry othe. industrial and equip
ment issues made handsome gains, to
the accompaniment of reports of fur
ther large contracts. L. S. Steel also
was helped by the publication of it's
May statement. showing an increase in
unified tonnage. against the preced-
ing months decrease
Railroad stocks as whole were
strengthened by the highly satisfac-
tory crop report, which pointed to un-
precedented yields of the more nee IS
sary grains. Railway earnings were
mixed, however, with a preponderance
of gross gains.
Foreign exchange was again stabiI-
lied by additional large imports from
Canada. with intimations that consid-
erahle more of the precious metal is
10 How in from that source and Japau
Was again drawn upon for more gold
Enlarged bank cleariDgs at important
domestic centers suggested a quicken
ing of general hnSjDpES