Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-02-15
STOCES TURN WEAK;
LONDON EXCHANGE Low
s.terest Centred in Action of
wheat Market--New York
Central Bonds Lower.

..ru, YORK. Feb. 15.--After opening
~ ,odav on the covering of shorts
tpe-s hotter demand for securities. the
su .. market reacted sharply at the end
- arst hour, followed by a slight
ssnv around midday. On the downward
Ing all issues, with Few excepuons,
VS. nave been withstanding pressure
W. ~ .,.rse time. went along. Speculative
,.,.rost was confined almost wholly TO
..nsi.d states steel common, Mexican
esfroleum and Reading.
r.,st,g the afternoon session the mar
,rss below the final on Saturday,
y, shade above the low point reached
q The early trading.
sfors attention appeared TO be centred
!. tba wheat market at Chicago than In
~ s.ock market. May wheat after
w ,,r higher at the opening, reacted
.s.rofv and this was followed by a
r. inward turn around midday,
ssoh carried the stock market with II.
sf1sara argued that II wheat advanced,
.e.,s was good reason TO believe that no
...uhie would be experienced In export
re cereal. as the result Of the action
u me German Kaiser declaring a war
~ around Great Britain. The confer
~ which is TO be held between the
v.1.sr and the American Ambassador
= M note of the United States to Ger
.-srv was n disturbing feature through
~ the day.
re German Ambassador today de-
.,..-od a note to the State Department.
4 the nature of reply to the recent
1r,srlcan protest filed at Berlin, stating
shst germany is willing to abandon at
,seka,o on British merchant vessels II Great
britain viii remove its ban on food ship
ments consigned to Germany.
IN addition to this traders made
- H. Ina ir1 NIn
ss,v & per cent bonds OF the New York
rsntraI, which declined to 10fB on the
enrb. or two points below the price at
~h,eh they were brought out In that
,.sriret. However, the railroad n az
slIred Of Its money as the issue has been
.hndeTwTitten.
Minneapolis and st. Louis securities
were again the feature OF strength to-
dav. the company'B common stock NOV
,nr M ~ points to 1875. and the pre-
fsrsd up l% points to 4slS, on reiteration
Il ths runored deal whereby either the
Canadian Northern or the Minneapolis,
n Paul and Sault Ste. Marie would take
over the road. The per cent bonds of
the company were also higher, as were
the refunding 4 per cent. bonds of the
iowa Central, a connecting road
Canadian Pacific was one of the strong
natures which withstood the downward
course Of the rest of the market and was
above the last sale on Saturday. Build
Wln Locomotive common gained a full
pojnt by selling at 301s.
Mexican Petroleum, in which there has
been unexplained pool buying for some
time, developed weak tendency, losing !
1 points at 72ts. This was a recovery, |
however. from the low of the day of T1&.
Norfolk & Western stock lost a full |
point before the close, selling down to
iM
y The foreign exchange market was un- |
certain at the opening today, and quota |
tons showed new low records. Demand 4
sterling went to ASIA and cables to 4s2.
Italian lire sold at $50, the lowest on
record. In the afternoon demand ster- |
ling went to 4a, which Is the lowest |
point reached in generation.
The weakness is attributed to the large 1
exports, which Is causing q heavy pres
sdre OF bills. The demand for remittance
IS not sufficient to take care of these
bills at former rates. Grain bills espe-
eiaily are in active supply. and there has
also become available a steady supply
ef cotton bills.
: There were also rumors that gold ship
lpents in addition to those already made
g New York, viii soon be made.