Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-05-21
RECORDS DEMAND BONDS
SpF(TALTIES MADE
SHARP ADVANCES
II, Evaporation Again De-
S'ss "a Rumors of War Orders
%otaIing ,l,g $1OO,OOO,OOO.

opK May 2i.-The tone of the
NEW Na,ket today was very mueh I'M I'M,
setk u .Ithough there was some carry
peven. this soon gave way 10
infgnl.s vhen il was found mat the
llfsnsu supply of stocks was not laIge'
fesuns particularly true in the special
THE VI ne so-called war STOCKS, the
rs u .shich is being lengthened almost
n .i,bsr by rumors OF Dig war o%tueI % 5
5siy, sacts that contracts LOT large
q ~ ~ AZ materials have neen slsreu,
emoun a general rule, tnat is as Lar as
w a.ins move up III pii'e''
eg' =, 4 good as facts. uooa goi,s To-
~ 20 specialties maze Boou eaina ~
Thee ~ them very wide, Crucible
e ~ for instance, adVancihs neaIig "
wy wv. N A new high record. american
l1l ls,otive gained over S1s' BaluWln
1eolgpSI: M: bethlehem Steel, not TO oe out
~, crossed 143 for gain OF more than
so.s, ss,nts. Westinghouse also auaeu ~
XXX XII 10 its price. All these advances
Fs- ~. made before midday.
@s.tever answer the German Govern
w makes TO the note of the United
ne s,.,.. and whatever action ioiloWs'
.s.r, eng sald that the position of the war
ls. ~. would in all probability sun pc
.y ..sS as materials would continue 10 De
\ demand. ., t,,o r,,rl,ot be,d
Z velL Trading, however was not
...ys and, as was the case during the
A.,rlnF. business was confined TO the
as..slslties, although some OF the stand
"a sbares showed gains. Very little news
y. y. forthcoming and the Street indulged
!. q. fayorite pastlme of circulating a
-. rar-order rumors, and in TINS con-
'r,,on ~ the Steel Corporation was mem
...sS The same old report that orders
u'" y M amount of s1OO,000,0OO had been re-
y ..,s.d were brought out and were again
siacially denied.
V,rs, ~ corporation's officials said that
..ssrs for either the Allies or Germany
"a MT been turned out and it is not the
s..ssrt intention of the corporation to
sarsee in the manufacture of ammuni-
IN Al least not for the present 1t was
m,se known, however, that the corpora
Nm IA receiving benefits from orders for
.,.sl used in the manufacture of ammu-
sItICn and is shipping large quantities of
commercial steel to Europe, through the
stsel Products Company, which handles
NJ export end of the business.
The closing was strong. Several shares
made new high records for the day in
he last few minutes
Tho entrance of Italy into the Euro
rsan conflict was regarded as bulltsh
actor. as 1t would tend to bring the war
10 d close much sooner
1 Talk of n heavy assessment on the
sock Of the Chicago, Rock Island and
Pacific was sufficient to drive the price
tn tY,t r
ronement of the dividend on Chesapeake
end Ohio aid not affect the stock in early
dealings and it advanced mere than a
volnt but this was lost later Missouri
Pacific came up slightly on the belief
thst the Gould estate would agree to
the extension for one year of the SIS, 900, 900
rotss, which fall due on June l. AS the
estats holds S6,000.000 of the notes it
would mean a lot for the road If they are
finally deposited 1t would lead other
holders to agree to the extension, it is
thought, and permit a reorganization Of
tha property, and n recelvership avoided.
The new Pennsylvania general mort
gage " per cent. bonds were dealt in on
The Exchange for the first time today,
The first sale was at 97B. Dealings in
this Issue were very light.
Much concern is oeing shown over the
Weakness OF foreign exchange. Today the
iale for demand sterling went to 4.7Sis,
TIE low point reached last March, while
francs were quoted at 5.42. This is the
lowest that exchange on Paris has ever
sold
In the afternoon demand sterling made
new low record by selling down to
Wis liz between bankers. This was sue
eeeded by a better tone and rates ad-
yaneed trihe from the low. There was
very little demand for exchange on any
country The report that a prominent
banking house had bought $10.OOO,0 900 of
Sterling exchange was not confirmed.
the continued weakness in the ex-
eaange market has again given rise to
tanors of large credits to be ablished
here by European nations to offset our
afge exports, BY the end of the fiscal
Isar the balance of trade in our favor
WI be easily s7OO, 100000. and bankers
isalze that something must be done, and
hal soon, to offset this huge amount