Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-14
FIVE-POTNT JUMP IN
AMERICAN LOCOMOTIVE
Stock Rose on Report That
Contract With Russia Had
Been Closed.

NEW YORK, April 14.-There was no
iet-up IN the upward swing of the stock
market today, and operations once more
were on n large scale, indications during
the morning session being that the day
would be another milion-share affair as
nalca m the first hour were at that rate.
That the public was again at the helm
was evident by the large number of or
dcrs which commission houses had from
outsiders. Floor traders also put out
orders, and there was a general rush to
recover stocks by those who were scared
out by the sharp break in Bethlehem
Steel n few minutes before the close yes
terday a great deal Of excitement ac-
companied trading and traders in many
cases had some difficulty in executing
orders.
The copper stocks were the leaders and
demand for all of these shares was large.
Amalgamated Copper was the strongest
IN this group, at one time being nearly
3 points above the final of yesterday. In
connection with the rise in this Issue,
there was reiteratlon of the rumor OF
dissolution OF the company and a dis
tribution representing some other assets
In addition to the company's holdings of
Anaconda stock. Chino, Utah and Amerl-
can Smelling were all UP around two
points.
When the position of the copper metal
market Is taken into consideration, It is
not hard to find the reason for the
strength In the copper shares. A general
revival In business throughout the coun-
try will add materially to the domestic
demand for the metal. There is more
talk being heard of 17-cent copper In the
near future, and in Germany the price
has touched A cents. Then, too. people
outside the trade as well as those inside
are beginning to realize more and more
that the Allies need the metal and prob
ably will be willing to pay a good price
for It.
Around noon there was considerable
realizing by outsiders. and room traders
and sales were quite heavy. Stocks were
well taken on the decline, and the adj
vancing movement was resumed. Sur
prise was expressed at the absorptive
capacity Of the market Interest in the
afternoon session switched to the indus
trials and specialties, and good ad-
yances were shown in many of this class
of securities.
A prominent issue was American Loco
motive common, which moved up 5
points. The rise in this stock was accom-
panied by reports that the big order from
the Russian Government for shrapnel
and other supplies had been closed
Movements in Bethlehem Steel again
attracted attention the price moving up
20 points on comparatively few sales to
l4o, and then sagging Off on succeeding
enies- rroH tne Hlgh' as mas been
the case right along, there was no news
to account for the strength of the
stock. 1t is understood that the governors
: OF the exchange have quietly launched
another investigation into the movements
OF the stock. There was the usual list
OF rumors, with new one added. This
was that an English syndicate Is in the
Held to get the controlling interest. In the
afternoon session a drive was started
against the stock on profit taking sales
and the drop in the price was as rapld
as the mornings advance. going within
three points of the close of yesterday
The feature of the foreign exchange
market today was the weakness in
retchmarks, which declined at one stage
TO Slss. the lowest point in history. There
was no demand for this exchange, and
this resulted in the decline.