Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-01
TEN-POINT JUMP IN
BETHLEHEM STEEL
s8 Per Cent. of Missouri Pacific
Notes, Maturing Today, De-
+ posited for Extension.

NEW YORK, June las was to be
.vnac,ed. in view Of the over-holdiday
developments, the principal thing being the
c.rman reply to the note of President
wilson. which was regarded as distinctly
unsatisfactory and evaslve, the stock
,nsrket opened lower today There was
40 pressure to sell and the liquidation
chat appeared was very orderly, and
on in the market acted very calmly. The
initial losses were not large and with
few exceptions were confined to fractions,
and they we're small as rule.
Tho street had not expected very
coneilatory reply from Germany, and
40 was not surprised by the nature of it,
7, had not been expected, however that
the answer would be an evasive one, and
because of It's nature some quarters re-
rarded the international situation as very
acute. There was an underground feel
i,p however, that the differences be-
tween the two Governments would fin-
sliy he adjusted without anything serious
ACQUIRING. That a vigorous reply should
he sent to the Kaiser's Government
seemed to be the general sentiment
Tho market throughout the early ses-
terest was centered on Washington for
the result of the Cabinet meeting, which
ali members attended and where two
+bInRs-the German note and the Mexican
sittation-were probably the two princi-
nal topics of discussion. The note to
Mexico has been prepared, 1t Is said and
will probably be given out for publication
In the newspapers tomorrow.
After the Cabinet meeting II was an
nounoed that the reply of President Will
son to the German note had been ap-
proved. as had the note to Mexico, and
that the latter would be given out at
10 o'clock tomorrow morning
More than S2o,7500Oo, or SO per cent. of
the S25,OOOOOO 6 per cent. notes of the
Missourl-Pacihc, have been deposited for
extension for one year. The company's
directors were in session for the greater
part of the day, waiting. for the re-
mainder of the notes to come in, so that
they could declare the plan operative,
and pay the coupons or commission. The
company's stock was strong during the
morning, but lost some Of the gain at
the end of the day.
After the early declines there was a
good demand for stocks and the market
became steady, but dull at the lower
levels. Most of the buying orders had
been placed at price limits under Satur-
days close and sellers were compelled
10 reach their bids. Nearly all of the
supply came from the room traders. At
one time Steel common was III down,
but It regained some of It's loss. Union
Pacific, selling exdividend, was off
full point. Bethlehem Steel lost be-
fore midday.
Throughout the afternoon there was no
change in the dull conditions which ruled
during the latter part of the morning ses-
sion, although the market developed
somewhat hrmer tendency. News that
the Interborough Metropolitan plan had
been declared effective caused strength in
both classes of the company's stock,
There was a vigorous bidding up OF
Bethlehem Steel in the last few minutes
and that stock rose 10 points from the
low. CrucIble Steel also moved up over
point, while several other shares regained
their days losses
In the line of routine news the report
of the Government on the condition OF
cotton was the most important. On May
% 1t was so per cent, of FORMAL. just 81
per cent. above the same date last year.
It was also 90 above the 1O-year average.
Crop reports were In the main. favorable,
Shows estimate, for instance. placing the
winter wheat crop at 669OO0,OO0 bushels,
against 100000 a year ago; spring
wheat, 2S1 100000 bushels, an increase of
sl,iO0O0O; oats indicated crop, 1911, ,0O0O 900
bushels.