Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-22
1TTENTON SWITCHED
10 RAILROAD SHARES
o.i.imore and Ohio Led on
swing to Higher Levels; Leap
IN I,ackawanna.

voRK. June %. - While price
NEW tbe opening Of the Stock EN-
thaas .bjs morning were not large, they
faahs1 itb few exceptions. higher and
pfe s,itet in the very early session
'5 signs of making further improve
fag iii around. The volume OF business
larger than yesterday and the sup
stock seemed to be small
fy Vsi.irg sales put in their appearance
tea tIe dav and most of the early
iisl n,sre wiped out, and quite a few
fifs dropped below Yesterdays final.
lss became smaller around mid
~ demand not being as large as
Day hoon after the opening. Public in
y lss vas stin lacking and the market
fie's s,stinotiv a professional one. Trad
- nrettv evenly divided, and there
lHs ore Of an inclination to take hold
~ standard issues. There was no
Y. ,r,nortant overnight news, and sem
go seemed to be optimistic.
prehoeinR reports that the incoming
a.ss of the Steel Corporation is at
y. ate OF between 10000 and 5000 tons
ssy. that stock became strong and
I've but selling pressure forced 1t
Z later. along with everything else.
!, ,he steel business there has been a
n'.,ssr expansion in mill operations, and
e-ts have It that during the present
.,p thew will be on a larger scale than
- tns since the improvement began.
t-.r youngstown, o., came the report
n. avery open hearth steel plant in that
s.rlet is rushed with new business. Pig
IN manufacturers are deluged with in
sirles for basic iron.
favorable item of news which came
m IN the morning was the earnings
sslsment of the Baltimore and Ohio for
isv 1t showed that gross advanced
ciie6 over the same month of last
,,sr while the net was even better, the
I'm being S1,247,2S6. For the II
ronths. however, the gross was SS,050, ,566
maier. and the net was turned into an
hcrease by judicious pairing down of
s@ratlng expenses, that item showing a
decrease Of 50, 461, 29O, resulting in an in
eease Of S1,41O,724 in net earnings. This
ths first month during the company's
sfasent fiscal year that gross earnings
we're above the corresponding month Of
ihe previous year. The stock rose over
no points after the earning were an
nounced.
shares of the big railroads followed tho
lad Of Baltimore and Ohio in the after
toon session, and all attention was turned
On this group, where gains running up -
nearly three points were recOrGeu,
tanadian Pacific was depressed, at one
tme being off more than three points.
THIS stock was affected by rumors ema-
uang In London that the dividend may
s. reduced. The traffic of the road has
shown no Improvement, but sentiment
d Canada is very much better. Trading
vas not heavy in the market as a whole.
Railfoads closed strong, while coppers
we're d little off New Haven was a tea
lure being up 2A.
Announcement from London of the sue
cess Of the new British war loan or
egs60 600 Isl. .25O, 600, ,OOO) was a very help
il influence. Cables said there was a
Fefy heavy demand for the bonds and
specially from small investors. The new
lnan will bear interest at the rate of Az
rr cent. The loan made in November
bore only 31a per cent
That large interests are not disturbed
b the decision against the Lackawanna
h the Government suit was plainly
'hown by the action of the stock today
L advanced eight points. Everything in
The market with very few exceptions,
approved along with the railroads.
Anaconda was unaffected by the increase
"a the dividend, announced in tke after
loon and held n fra ptiOn lower