Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-07-06
yTOCK PRICES FELL
AFTER STRONG START
pressure Against Railroads IN
settled Market Late in Day.
War Specialties Up.

ntv Work.. July 8-Generai improve
" -, ahown all around In the stock
n,o, AZ the opening today, the result
ps,,n,.ersbie developments over the holi-
q ~ arc most important of which was
5scision OF the District Court favor
nc Reading in the Governments coal
- suit, while reports OF turther large
ssr orders also played prominent part
,ha upllft OF prices, as did the fact
" ", Mr Morgan's wounds were not seri-
tla of the war orders Westinghouse
ou. .onorted to have closed a contract
..,. ~ Russian Government for an ad-
Nasnsi 1 100000 rifles. All in all, the
e,tssi looked for another week In which
~ war specialties would lead the
market -. ,n,oro,. 10. h...
,.a.,sd recently, a large part on Satur-
~ n tbe attack on Mr.. Morgan, and
.,,jnr by these interests was also an
,..sfaht factor in the betterment,
s-ssn too! there was a better demand
-. stoakk and commission houses APP
ss.,sd 10 have quite a few buying orders
:, ~ beginning of trading. The Street
ssearded the delay in the reply of the
arrman Government to out note as favor
sble IN the main, In that reports had It
tbat II would be conciliatory and that
more time was needed In order to reach
a final agreement thaI "Ouiu pe S"tis-
factory to both sides.
ITror, washington came the news that a
summary of the German views to be in
oosnorated in the reply to the United
s1atsa mad been received from Ambassa-
Az Gerard. substantially 1t was said,
these views agree with recent reports
srorn Germany Indicating that the reply
would be satisfactory.
poadinr. because of its second victory
over the Government in coal trust suits,
was easily the feature in the early deal
Ings, mounting points. The advance In
,hIs issue also helped the rest of the rail-
mad group, but interest soon switched
M the war specialties, and gains from I
n AZ points were recorded before mid
dsv the largest advance being i'm Bethle-
Mem Steel, while Baldwin, the motor
siocks and others moved up in sympathy.
Not only did the Reading decision help
that stock, but 1t also had n favorable
effect on Steel, which was also strong,
tho argument of the Street being that
the courts were no longer favoring the
drastic lnforcement of the antitrust law
General Chemical again came into
prominence by leaping 80 points before
noon and Sears Roebuck gained 8 points
IN the same period.
Trading was not as active during the
afterhoon session, the early demand on
commission houses apparently being salts
hed. These was some realizing at the
higher level and prices went off a little
nom the high but as general rule d
5000 margin was maintained over the
close OF Saturday. Pressure was shown
AGAINST Northern Pacific and at one time
Il was off full point,
Late in the day the railroad share were
placed under pressure, many going below
The close of Saturday, notably st. Paul, in
which there was a fresh break of "a
f5F. the day and 31s down from Saturdays
anal Canadian Pacific also became weak.
The war specialties, while they sagged
aomewhat from the high, all showed good
galns for the day.