Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-02
BUSINESS LIGHT
ON ABSENCE OF
BUYING ORDERS
Better Feeling Shown in
Wall Street on First Trad
ing Day Of New Year.
Wait London Opening.

.,tv YORK, Jan. 2.--There was no
,...sovement In business on the Stock
r,obange today. but everywhere there
,s more cheerful feeling for betterment
a .hn near future. Price changes at the
onsnlng were insignificant, but later the
.,rst gained strength, only to react
-, before the close. Attendance both
,no floor and in brokers' offices was
.,1,y pEht The sales for the first hour
,,ors ii 300 shares 45OO more than the
c.s, hour last saturday Total sales for
~ dav were 23,3OO shares bonds, S562,OOO
,a.s mo most part dealings were In spe-
.,.i,ieq There were no buying orders I'm
o,idence. Traders showed a disposition
y await tho opening of the London Stock
txcbanee on Monday for restricted
trading. y
na,,ued good, and in the Pittsburgh
s,.,.,c, n was said that orders are being
booked greatly in excess of recent months
AIDED TO this is the advance in structural
.tssl OF 81 a ton. which went into ef-
fart ON midnight Thursday. On the be-
,1,, mat the railroads will, within the
,.xt month, put out inquiries for new
,ontnment car makers are understood
tohaye been buying large amounts of pig
iron
& The general belief throughout the street
1. that tile chances OF further cuts in
railroad dividends are becoming smaller
day by day, duo to the more careful
& corsderation of the per cent. freight
rste decision Railroad officials have
& cone 10 realize that the decision was
4 really big victory Tor the besterh car
4 The Bank of England has sold another
8 consignment of foreign gold This is
g hi, second time since the war began.
The, amount was s5,OT0,0O0. 1t was re-
ported that the gold was not for export,
But that 1t was n transaction on behalf
OF the Bank of England's branch at OF
q tawa for the account of New York.
PENNSYLVANIA lost u at 1915 in the first
hour on the poor earnings statement for
+ November, but before the close reganed
1.-The loss at 1915. The earnings of the
system were the poorest of any month
4 this year The grosb sagged off S4,T2S,-
Ss3 from the same month of last year,
while the net declined S945, ,040. The gross
Of the Pennsylvania itself fell off 81, 153
Ni and net S4S4,964 The statement of
sthe Panhandle was also unfavorable.
The most important change in prices
was the loss of " in Missouri. Kansas
and Texas common which sold at 8.
This decline follows In line with the
Yielding market in Missouri Pacific and
Western Maryland Attention was nat
utally attracted by the weakness of the
inaheiall position of the company and
thore was good deal of conjecture about
measures which may be taken in con-
ilection with the maturing $40, 900 notes
which are due on May /. Western Mary
land showed further loss this morning
of X, selling at 9h, a new low record for
tho stock. There appeared to be some
scattered liquidation in the latter on the
failure OF the company 10 pay the jan
uary interest on notes, pending a finan-
cia feadjustment
On the sale of 100 shares of st. Paul
me price advanced a 4 to 81. 1t was
reported that the stock will be i'm the
market for funds in the near future. No
ufnnlte negotiations have yet been en-
tered INTO with bankers, but If a sale is
made u is likely that from SIS, 900, 900 to
s-'VVaVVS OF the general and refunding
nortgage bonds will be placed upon the
Msfket' ST. Paul could use more money
lH.hs general Improvement program
VI l9e largest of which is the electrihcation
me systems lines in Montana. There
a.e also parts of the old St Paul upor
npfh improvement work will be con,
tlnued next spring, st. Paul has no ma.
suiing securities i'm 1916, except the s5 900
." per cent. one-year notes, falling due
" January Is, 1t Is believed that ar.
easements have already been made fol
providing for these