Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-22
EIIROPEAN SELLING
End PROFIT-TAKING
MARKET FEATURES
'I.r.ey Central Stock Leaped
40 Points - St. Paul
Bonds Active-Bethlehem
Steel Lower.

.sU YORK, Jan. 22--The stock market
yas strong and weak in spots.
.o,need strength developed in the
y. hour, after quiet opening, but later
.,,,on occurred, caused by Increased
...lsn selling and some profit taking.
4, reaction did not take in the whole
.nd some of the standard issues re-
.lasd arm in the face of II. This showed
s.lrlv that the street did not look with
,.,.vor on the reaction, and 1t was
IA nv those committed to the bull side
Il, reaction at this time was natural,
ssw OF the sharp upward movement
i M last several days. Among the is
y. which sought lower levels were
sadIng, Bethlehem Steel common and
,malsamated Copper.
II fhe last IL minutes there was a
t.yn reaction which carried prices of
ssny leading issues to the lowest point
u ,ha day. Declines ranged around IA
..srt and over. There was vigorous
,1Inr from abroad and taking of profits.
vaw York central stock was strong
bstnre advancing 1& to 1924. The rise
/ - based on the probable success of the
I'M recently disclosed to issue about S1l5,- =
400 bonds under the new blanket mort
asa TO take up outstanding notes and to
sfoyide for other requirements.
United States Steel, after being "a above
IA close yesterday at 5S3s. fell to 5G
IA decline was thought to he based on
IA report that the net earnings of the
fo,poratlon in the last quarter of 1914
ssabllshed new low record. The pre-
,.ous low record made in the first quar-
M OF 1904, was $l3,445,00O. 1t was argued
hat II such is the case a large deficit
IN be revealed. The directors of the
uporation meet next Tuesday when
IA earnings will be announced.
On pressure of realizing sales Bethlehem
seel common struck the lowest point
ante It's large advance. The price de-
tlned to 4gA just before midday, com
pred with 5lh at the close yesterday.
The preferred. on the other hand. gained
half by selling at 1O5.
Despite the poor earning statement of
/ he Lehgh Valley for December and six
Hanths, the stock was strong in the early
aeaiinss advancing IA to 1895 In the
hisr trading, however, the price declined
below the final yesterday.
Missouri Pacific was not as active as
th previous days. The opening was un-
banged at IA. Later ia was lost Mis-
foari, Kansas and Texas gained. The
fss was accounted for by the ex-
Fstation that timely provision would be
rade for the maturity of Sl9 100000 notes
nN May.
Jersey Central sold at 325, an advance of
2 points from last previous sale made
January s. when 50 shares sold at 29j.
Features of strength were Southern Pa
tlho, which touched SS5a for an advance
O K: Atlantic Coast Line up 2 at l07,
General Motor up ga at 91lh. Mercantile
aafina common changed hands at ga UP
aud the preferred was up points
st73..
St Paul convertible 5s when issued were
feature in the bond market and were
p at 1O3. Before o'clock the total
nount OF the bonds sold was S1,Ol5.OOO.
sliginla 6s, Brown Brothers, jumped IS
ie @ In the afternoon.
ne reported movements of currency
ha week Indicate a gain in cash by
aaks Of S,O67. 600 Banks received from
nlsnor 600 and shipped to interior
hAAe1 Including fI,O27OO0 national bank
~ sent to Washington for redemption,
en rom interior was IS, 1873, 900. Gain
2 sanfeasury operations proper was
ss4lW This made total gain by
rs Of s7,O67, OOO
money during the greater part of
= gay loaned at per cent, but in the
saahoon 1t declined to 1&.