Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-07-15
IANK OF ENGLAND'S RESERVES INCREASED Whit
lIE RALLY LED BY
INITED STATES STEEL
~ Reorganization Plan
|e.lls for $50 Assessment on
ssrse Glasses of Stock.

vofk. July 15,-stlmulated by
fbN actlvitv in the steel trade,
rs'sse for products and rumors
.,aisnai large war orders, the stocN
starisd Off strong today with the
''.s. .o,ouht Of business in the war
.a.,,s and other industrial Issues, In
~. biggest gains were scored
,n advances stood from l to
The strength was not gem
4 p..ver. and some Issues showed
h nv tendency, making the market
general inclination to work
f Ihas ',,,,o IN ali parts of the room, but
n Q...ra NOT very successful, as stocks
rit 'n taken as soon as they were
fts pscause of the fact that the
if'g .rSsi has covered to a consider
IeA ..,t the market on the whole is
" stfong a position as it has been,
tr'l ls thought that any bad news
"a well withstood.
n..t,bem steel assumed its place as
i.sser among the war stocks, advance
4 NJ nolnts before noon TO new high
Cruclble Steel came next with
.,sts BALDWIN, too, made a new high.
4Irghouse was up nearly points.
.,ts IN the Street had 1t that the
-,rrs Of Westinghouse for its June
.ssr--the hrst three months Of the
~, vsar--were at a rate sufficient to
.,,.s net earnings of between Is and
4. Y, cent for the common stock for
lhs year.
r.,.5 nroits, IL is said are without
49, ,,io consideration the income from
Z. NJ Russian rifle order. u. S. Steel
z, notably strong spot, although its
.'- was BY no means comparable to
n, n the other industrials. For the
IA suarter It was expected that Steel
"a show net earnings between $50, 00O,-
y IA fJ9,000,000, and for the present
amer about S4O,0000OO.
lirsnce Information on the reorganiza-
n pIan OF the st. Louis and San Fran
81 which calls for an assessment Of
Z VI share on the common, first pre-
~ and second preferred stocks,
~tht about weakness in these shares,
bsng around III points before noon.
/ 3 expected that the plan will be an
|mnttd next week. The assessment
r1d raise about S25.OOO, ,O0O-s14 1876, lou
e,m M common, s., ZOO from the first
u,ssd and S7,999,973 from the second
preferred.
intzaarlty ruled in the afternoon ses-
in some of the railroad shares tending
t'gtd lower levels, while the specialties
nn,ned strong but eased off slightly
t5n the high. Willys-Overland gained
lrnts by selling up to 1884,, a new high
dividend in the near future. Southern
l. 60 hs
tgely for foreign account. A few min
ia before the close big demand ap-
1rsd for Steel and it showed a gain
I moro than points for the day. The
dsance in this issue stimulated the rest
the market and there was rally all
round. the finish being steady. Favor
ha comment was heard of Germany's
jologies for the attack on the Nebraskan.
Reports received from all sections of the
dntry indicate that steel plants are fast
airing capacity operation. The Steel
for instance, is this week
irklng about 90 per cent. of ingot capaC-
interesting today was the
view OF the Iron Trade Review, which
"a, "The straining of output of the
ngslt steel companies of the country
nas s being attained rapidly under the
pnhlsulpted heavy flow of tonnage to
he nlIs. This week, the Steel Corpora
ion { running at slightly over 80 per
Fni Of steel works capacity, which is
'Han or 3 per cent. of practically full
upat So severe has been the demand
I ne finishing mills for crude steel that
ls Steel Corporation has continued to
'pplement the make Of its own works by
alng further purchases of blllets in
a' open market Such buying now has
'Alsa'well over $1,000 tons"