Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-07-21
THLEHE STEEL EsTABHED AN0TER EoR An
IAP IN WESTINGHOUSE
AND CRUCIBLE STEEL
n.mAnd for Former Was Heavy
Final Dealings Expect
an to Get Big Order.

s YORK July 81 with the opening
elock Exchange today the upward
nt IA sidcks wac resumed with
,te var speciaities leading on the
"A higher levels. After the start
lad little fwaverinR and prices
little This condition did not
i3ng. however. and stocks soon
tsn aaAin. The strength In the
,dss was communicated to the
ssfd railroad issues, and. around noon
n.ra ranged from n point 10 nearly
s8ls The failure of the Remington
sirIke was ascrlbed aa the reason
1000 demand for the specialtles.
sssson OF the fact that II reached
o6u-prsdioted igure OF 900. new
nethiahem steel was easily the
efs In the early hours, while a re-
IN Crucible Steel Of nearly nve
Attracted attention American
made new top at 5SA. a gain 81 ~
.s noon The strength IN Can and
nthouse, which was ZIP nearly four
wae said TO be due to the fact
Is. rtn il expected to close war con-
fhis week amounting to about
io0 and that Westinghouse will get
bssantial part.
"a adyance Of two points in Baldwin
g accompanied by the report that
s,l tompnny would also get some Of the
"a tontraots.
rssanned Improvement IN the steel
..sA was given as the reaaon for the
.aess OF United States Steel Almost
ns now dispatches come from differ
q. nsrts of the country of more steel
lai. resumlng and OF additional fur
s.ss being blown in, and the opinion is
s.oming more general that the trade
g Al last turned the corner for the
mere was a relaxation in the after
.5n from the rapid pace OF the morn
md stocks eased off all around from
fs hieh. A large part OF the short
,fasl had been eliminated and the
shhlcM position of the market was
e.lsby weakened to some extent. During
N morning shorts had covered freely.
,f.dtis began to look around for weak
sn and found one IN Canadian Pacific.
|aA Issue was placed under pronounced
sure and at one time was off nearly
q points. II did not have general
isoNsslng effect on the remainder of
q. market. however, only a few Of the
.K line rails going off sympathetically,
shIle the speoialtles continued at the
ssh level, Bethlehem running UP its
fn to 204 Just six points above the
til Of yesterday. Some of this was lost
hltr The market closed irregular The
6aure Of the afternoon was a sharp ad
sshoe In Crucibie Steel OF S1h points
i spurt in Westinghouse at the close
arried the stock up 0l5 points from the
hal Of yesterday Demand for the stock
tis large.
stock Of the ST. Louis ann San Fran
asco was slightly depressed because of
az pending assessment. While no off,
all announcement is expected, for an
bher month, It is we'll understood that
he REORGANIZATION plan will call for an
.ssessment of $50 a share. The plan has
zone to the printers. Upon the payment
q $50 the stockholders will receive a a
psr cent bond. which in lien, will be
placed ahead OF the per cent. bonds
that the old refunding Is will receive in
exchange for their bonds The. plan con-
templates giving the old first and refund
ing 4 per cent bondholders 70 per cent
OF the par value of their security in new
4 per cent bonds and 25 per cent. in new
Adjustment income cumulative 6 per cent.
taidg W. ~ f