Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-02-17
PRICES OF STOCKS SAG;
EXCHANGE MART FIRM
u,n,omatic Complications Still
dominant Feature = Several'
Issues Reach Minimums.

-, work.. Feb. t7.--The uppermost
v, tha stock market today was the
nalln,ss.,stlc developments between the
dipols,H s,stes. Germany and Great
tnitsn ond what action will be taken by
bfisar, bf.. r,ritaIn should Germany carry out
y y esnnounced intention OF blockade
l.,rd Great Britain. This caused
s,,sss,scilnation among traders to- DO any
ss,nr until there are some oennite oe-
Judgments. ~ -. .-.,.-.,,,.
~. ~ throuRhout the list. The market re-
ses.,rsd weak during the remainder Of the
p.,.r and stocks were off around
.o,rt from the close yesterday. In
- 80 cases prices were off even more
Tssss appeared to be a larger supply of
..e,rs on the downward turn, but there
was no demand.
4 few minutes before the close fresh
..Ilina movement started which carried
~ nrices of many shares to the low
sar,s OF the day. Mexican Petroleum
Sawed a net loss Of 5ls points at the end
u he day, the stock having been weak
,e,onqhout the day. Minneapolis and St
\ snis preferred lost 5Ss just before the
Nsw Haven. Southern Railway pre-
t.rres I,oose-Wlles Biscuit and Baltl-
r,.rs and Ohio sank to their new mini
astlFr
slsI committee of the exchange yes
,.rday. New Haven was off points at
-. openInR at a.. The weakness was
.ssIly explained by the report of the
company for the quarter ending De-
ssrnber 81, which showed q deficit of
sa5a675 after charges, as compared with
deficit of 1885, in the last quarter of
ipia The stock In the later trading re-
covered slightly, Southern Railway pre-
ierred lost 2 points at 4s, as did Loose
.Wiles Biscuit at 16 and Baltimore and
Ohio at 81.
About the most active issues were Read
ing and United States Steel common, both
ronR below the close yesterday.
The foreign exchange market was
Armer today. Demand cables started at
ti1sA and shortly after strengthened TO
A7sAfII.sO The strength was thought to
BE- partly due to the talk of the forma-
ton of slOO,Ooo,O0O syndicate to extend
credit to Great Britain in the United
states No official announcement has
been made on the subject. In some quar-
ters It was held that the initiative should
be taken in London.
Some of the selling in the market today
was thought to be for foreign account in
an effort to put exchange rates back on
normal basis. There were sales OF
bonds by Amsterdam for German ac-
counts Dul IL was Sdlu lltl lIt dlllOuIlS
we're not large.
II decided upturn does not occur In
the exchange market within the next
few. days 1t would not be surprising II
the Bank of England released more OF
It's gold reserves from the Bank of OF
tawa for shipment to New York At
present there is upwards of $4,000, 900 OF
American gold in Ottawa, which was
sent there last spring and summer when
the export gold movement was at Its
height, and. therefore, 1t would not be
surprising now If some of 1t were re-
turned
On heavy liquidation the wheat market
sold off today. Fear of shipping COM
pllcations abroad was one of the main
Influences. Cotton prices also declined.
There was some talk in the bond mar.
ket about some possible new financing by
the Government in the near future. This
financing, It is said, would be done to
place some additional funds at the dis
posal of the Treasury Department.