The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-14
BETHLEHEM UP
TO 155---THEN
DROPS TO 1913
FluctuatiOn Furnishes the
Greatest Stock Sensa-
ton in Years.
BIG PROFITS MADE:
WILD EXCITEME NT

Another display 81 pyrotechnics In
Bethlehem Steel yesterday sent the price
to new high record mark OF 1855 and
furnished the stock market with the
most sensational days trading in that
stock since the great rise began last fall
around 80. From the top of the day
there was slump of 1873, amid wild
excitment Just before the close.
No such violent fluctuations have been
witnessed on the Stock Exchange In
many years. According to some authori-
ties, II il necessary to 30 back to the
DAYS OF the great speculation IN Ameri-
can Sugar in 1899, when that stock
day. to find anything to match the re-
cent market IN Bethlehem.
Yesterdays rise in Bethlehem was
tne more amazing because 1t came on top
Of an extreme advance OF 16 points ON
Monday. which Ia turn followed the vio-
lent upturn last week. II caught a
newly formed short interest and drove
1t to cover with heavy losses.
swept u 10 W. ny NOON.
From the very start 1t was evident
that the market for Bethlehem was again
IN for fireworks. The first sale was
900 shares at 1854, up 81, points
from the close OF the previous day. The
price dropped back temporarily to 1872 y
and then swept up perpendicularly
until It touched li2 by noon. For "a time
the market auietcd down, but in the
afternoon the scarcity % stock was again
emphasized by atother Wild scramble TO
buy, which shot the price up to l55
Al the top, the demand slackened sud-
denly and what was really the most spec
tacular developn ent of the day occurred.
namely. an almost straightaway Dir, y
TO 1913. This was the largest and most
rapid reaction that has taken plac"
throus hout the rise and was retarded as
indicating that the market for the stock
was beginning to reflect the absence Of
The short interest. which has hitherto
supplied much II the buying power.
The peculiar market conditions which
brought the great advance about wer"
again present. There was the same
prom )unced scarcity o. stock and the
same constaiN demand every point up
The advance VS. ucCcie!a.ed 10y the
operations OF the floor traders. who
were In ard on. the market all day
boAe on both sides Of the trading.
some Made Big Profits.
Some Of them made big profits one
we'll known trader bough, at l25 ~ the
opening. sold II $50, and tt-u bought
his stock back again just before the
close. But speculation outside The ex-
change WAS less widely INDUCED ia.
A good MANI = the conservative tsIu-
mission houses refused to allow their
customers TO do anything nj the stock
except On u cash bass.
The punishment given the shorts has
been an object ,esspn to persvns who
have been inclined 20 anticipate g col
lapse IN the price and the wild huc-
iuations seen yesterday frightened all
except the very boldest spectators
Commission houses again maintained
yesterday that there VS. no important
position IN e.thcr side II tire market in
Bethlehem. The hcigh "a which tho
II 81; has risen have been spiiiciept
discourage hu. ers. IT tho outsider has
SHOWN any disp. .ltlon to do anything
10 has been 80 attempt {, and tho ton
with shor, sales, TnIs accounts for the
constantly renewed short interest. 1t
: not believed that there is any short
Interest of q concentrated chalac or.
Although the stock has been pretty
much left alone by the general public
IiteN some people have been hurt by
the injudicious speculation The officials
Or the stock Exchange have during tn.
iast day or received a number of
anonymous letters going so tar as to
accuse them of criminal negligence in
pei hitting N" 'sCanddluus uan.pula-
tbn' IN Bethlehem S,eel 10 go on.