Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-08-03
SNDCKS ROSE SHARPLY,
pIT CLOSED UNSETTLED
s,.so Gains in War Specialties.
y, st,debaker w e a k Spot.
sInion Pacific Report.

,,optk Aug. 3.-wide advances
fbN ~ ,nanv Of the Industrial is
ssatfee, ,,,an ~ street thie morning. led by
Y steel with a n-point jump
eaavaIlng Its high record. Allis
~ .rs aiso made a high record and
,,sd steel made a new top LOT the
tniNu charm rise in Railway Steel
geaf. 80 accompanied by the ia
prins war Of war order The
niilal ,avoived was said to be SiO,0OO,OOO.
ssnoph. ~ ~ Bethlehem, 1t was stated
~ IessN ornoratlon was now earning
that thv 80 ~ about S25,OOO,GOO year,
At VIZ thts would be largely increased
~ the close Of the year
LA strong with few exceptions
fIlOes ansi hour. Studebaker was a
hh1l, sot however, declining more than
weak spV ~ tbe other hand, United States
u...s pVlu rose points or more, while
.sa, Petroleum extended its carrier
W. 4 nearly points. In the CLOSING
saf,gs profit-taklng sales began to make
,os..,sslves felt and earlier advances were
ansnrod in many instances and In some
sssss cancelled. The close was unsettled
American Can, Cruclble steer ana baiu-
en- Al reacted sharply at the end.
W.. w az rsne al the close that the Stude-
80 Company had declared a ~ per
~, aivIdend on the common stock. The
staras dropped ~ points in all today
ro,aworthy broadening of commission
s.a,,sn buyIna was taken as an indlcauon
4 y torgelv increased interest on the part
u The general public.
4 american Smelling, American Tobacco,
,st,sornla Petroleum, Crucible Steel, Pa
.slee Mail and Mexican Petroleum were
~ buoyant. The railroad group, While
Herr, did not Join in the pyrotechnlcal
ssisniav of the Industrial contingent
sTheIr turn will come later, say close
sbsarvers. when the movement of crops
seeius Prosperity In industrials, particu-
iarIv Steel, is here The month OF Au-
ntst opens without the customary closing
Town of mills for the summer, owing TO
she rush of new business. Buyers of
49,, nroducts anticipate further rise
n prices, and are, therefore, taxing ad-
Vantage of present quotations.
with the appearance of the Union Pa
tiHc June report of earnings showing
mali Increase In gross and gain of $780,
q, IN net the railway issues became more
Ilyely. Reading, Union Pacific, Southern
Railway. Baltimore and Ohio, Rock Islahd,
New York Central and others all moved
hp. Incidentally the Union Pacific an
bounced that in the year ended June 80
sasS per cent was earned on the common
took. against 1910 per cent the previous
rear The, surplus was $6626,9O5, de-
arease of s2,7O447O. 1t was explained that
hhd 1t not been for the distribution of It's
Baltimore and Ohio holdings the surplus
would have been about the same as last
year
4 Bankers are watching closely the action
bf the so-called war stocks, and heavy
margins are being required. Even with
lhese restrictive measures however, there
keems to be no checking of the bull
manipulation Some aver that the public
has taken the bit in its teeth and is
making the market rather than the pro-
fesslonal traders. With the great ac-
Humiliation of money in the banks it is
comparatively easy to finance market
1eals at low rates of interest SO that the
unusually large margins asked are not so
nuch of deterrent to speculation as in
Hines Of monetary stringency An added
Btimulaht to a stock market boom was the
announced Willingness OF the Federal Re-
erve banks TO finance the crop movement.
I the plans suggested work out the
country may get through the customary
autumn money furry without the pro-
bounced hardening of rates which usually
occurs.