Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-05-20
I.EAP IN BETHLEHEM;
MISSOURI PACIFIC UP
c,reet Understood That Gould
trustees, at Meeting Today,
Agreed to Extension of Notes

.,,,v YORK, May 2O.-Contlnued i'm
o,,, was shown in the stock marke
IN, both in the volume of trading am
n,r,ber move up in prices. Will,
,.1ss was not on what might be called
scale. IL was distinctly bettel
IN on the last two days, especially yes
s.v which was more like midsum
-ssslon than a May day. This better.
to-day occurred In the face OF fore
-ssi5at the German reply TO the note
s,ro United states would be unfavor.
~. r,t the belief that Italy would soor
N. ,be war on the side OF the Allies
enw IN the mind of the Street, bringing
snuS, aeict 10 a much speedier ternlna-
lhe as suffclent reason for better
Hs' ctor of no mean Importance today
. hort covering, while the order
sloh ,he Bethlehem Steel Corporation
.aoiyed from Great Britain for 5000 can
80 and a check for S16,0OO,OOO, exerted a
ma influence in the war stocks In
ss,oh the largest gains were registered.
na1Slehem. for instance, moved up G
"lrts before midday, while American
ononotlye rose 2th; Baldwin, 31a, and
ay.s,lnphouse over g. Other war stocks
Leo make substantial gains.
'ontstanding weak features were Chi
80 Rock Island and Pacific and Chesa-
saste and Ohio. The latter dropped two
rro,nts on the expectation that the divi-
ssnJ would be passed by the directors,
rho meet to take action today Rock
,.iand declined over two points. In con-
rsction with Rock Island, which is now
.halrman of the minority stockholders
snmmittee had advanced proposal that
sSo OOnOO0 of collateral trust bonds be is
MAI TO avoid an assessment on the stock.
Much concern attached itself to Mis-
so,,ri Pacific because the road has
100000 of notes which mature on June
/ and for which an extension is sought
and the Street anxiously awaited the ac-
finn of the trustees of the Gould estate
Il deciding to deposit the S6000,000 of the
I notes which the estate holds for the eX-
tension for another year, or whether pay
nsnt of the principal would be demanded.
The trustees met today Up to the pres
ent time few of the notes have been de-
posited by holders. The stock was off in
he morning, but strengthened in the
afternoon going up points III very
short time.
The Gould trustees held an extended
session and adjourned without making
any announcement. 1t was expected in
the Street that the result of the confer
tnce would be made known to the Mis-
. souri- Pacific directors and the decision
OF the Gould trustees would be announced
from that quarter. 1t was understood
that the trustees had agreed to deposit
the notes.
Very little was done in the market
around midday, but in the afternoon re-
newed strength developed and several
stocks rose above the high of the morn
Ing The further Improvement followed
the news from Rome that the italian
Parliament, by a vote of 365 to 81, had
passed the bill giving the Government
full power to act. The market closed n
little below the high.
The most important event of the day
was further weakness in foreign exchange
Tates Demand sterling dropped to within
sof the previous low record of ASA.
which was reached in March. New low
records were made by francs, and lires
dropped to their previous low points.
This decline occurred in the face of fur
her gold imports, announcement being
made that 100000 had been engaged for
Shipment from Yokohama, making
100000 in two days.
United States Steel made no response to
ihe announcement of an order for 9i0O tons
Of steel bars from the American Locomo-
tive 10 cost 100000. The stock held only
fraction above the final of Yesterday