Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-08-27
AMERICAN LnNSEED
WAS SENT UPWARD
Activity in Common and Prefer
red Furnished Late Feature.
Exchange Market Weak

xEW YORK, Aug. T.-Strength again
.eafseterized trading on the Stock Ex-
shsrre generally today, only few issues
s.lne inclined TO lag behind the upward
,,,ove Business was not rs large as il
sae been and 4 was, for the most part.
ronaned to the war speCialties, although
~. coppers came In fer more attention.
~. 40 the better demand for the metal
sed higher prices In London. In this
80, Yesterday, for instance between
=, 100 600 70 25,OOOOOO pounds Of copper
hanged hands. and It Is understood that
,nouiries are out for 5O,0000O0 pounds Of
sns metal The price of electrolytic
conner advanced to 1Sit cents today, the
hiehest on the present. movement.
Attention was drawn away from the
.tock market today TO quite a large eX-
,onf by the renewed, or continued, weak
ness i'm the foreign exchange market,
hotb demand sterling and cables regis
,sring new low records i'm the early trad
Inc Because of this weakness more gold
,nports are looked for, and a large ship
,nent is expected during the next fort
nlrht. according to word received by
bankers here from London, and before
~ movement is over the new imports
iii probably reach SiO,OOO,OO0 Looking
,oward his heavy movement the Bank
AZ France mas begun to transfer $1,000 =
an IN GOLD across the Channel. The un-
,sttlement In the exchange market eX-
nlains. to a large extent, the inactivity
n the railroad shares. Traders fear that
unless soemthing is done to put rates
hack on a normal basis there Will be
more liquidation Of European-held Amer
lean securities.
Movements i'm prices were not as wide
.s they have been I'm the last few days,
except in some issues, notably Tennessee
copper. This issue moved in the oppo-
.ita direction from the rest of the metal
group and at one time was down a
points, some of which was later recov-
ered. the loss around midday standing
AZ about FIVE points. On the other hand,
the other coppers were strong, the ma
iortty being up nearly two points. The
break in Tennessee was thought to be
largely due to the failure of the com.
pany's directors to make any announce
ment as to war orders after their meet
ing yesterday
After some early weakness on the re-
organization plan, kumely common and
i preferred became strong. The plan pro
yides for the formation of n new com.
many to take over the existing business
and provide working capital.
Pronounced strength in Federal Mining
and Smelling issues was the feature oi
the afternoon. The common rose 10 and
the preferred points No news accom-
panied the advance. While there was
some proft-taking after midday, stocks
were we'll taken, and the market, on tn,
whole, remained firm, but trading was
not active. United States Steel firmed
Nd and went within a fraction of it!
high mark for the year. The rails con.
tinued inactive. Right before the clos,
American Linseed was taken in hand and
boosted, the common going up 2% point!
and the preferred points. Bethlehem
Steel gained 5. The market closed strong
on more optimistic reports from Wash
ington on the outcome of the interna
tlonal situation.