Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-07-08
TOCKS AGAIN WEAK;
SHORT INTEREST BIG
Kansas and Texas and
Missouri Pacific Under Pres
.ure.-Leap in Gen. Chemical.

-, voRK. July s.-Unsettlement
Now l., the stock market today, with
. fnlnss fn.,ess of a purely professional char
NJ definite trend was developed
. srs ,be early hours and prices see
5nn while the news Of the fire on
seen.nobaba was without direct Inn
.asa still II was feature which
g,1's y the uneasiness and caused some
ssaso WEE of stocks in the early session a
a. ansr OF issues sustaining losses
n,,d point, with the standard rall-
~ shares again the leaders on the down
.,r Following reports that tne nre
iara steamer was not serious there
q ,dsorous covering movement by
va snd the market rallied well. 1t
snors'. rsn,ain at the higher level long
ea ~ ana soon dropped back to the
hoNe'sr rno abort interest at present Is
"a "a be very large ,.,.
sas ~. .nlv Issues to show any strength
lhe s.u, obscure specialtles, such as
F.,e.n Coal Products, which gained
AHn,s aud General Chemical went UP
an,e amount. There was renewed
W s,,nnshs in Southern railroad shares.
nHaisnv in Louisville and Nashville,
.s,ob dropped 3is, due largely 70 iorelgn
s.iiinq and Atlantic Coast Line, the
tsili.es e7s.,nv off nearly points. Missouri
ieltys We Sam full point. The holders of
iacino ili,.. ,any's securities have now had
.i.' .ne a. carefully digest the reorganiza-
i,n .lne ,ior hut what action they Will take
@ tivli ba learned Federal Mining and
sasai,,ng eased off 5 points.
e", Saosor yVhich added to the weakness
a., .siiroad issues was the tornado in
q, o. ~" Nrdd,a west, which swept through
az states. hardly any of the railroads
n tbe territory through which 1t passed
escaping some damage.
usavIness continued in the afternoon
.ssslon with declines and rallies following
.s,h otber. Pressure against the South
western roads, Missouri, kansas anu
rsvss which lost more than 2 points,
sclnr 10 a new low record, while the pre-
,.yssd sageed SIh. and Missouri Pacific
rv,her unsettled the market, particularly
"a railroads, and the street again gave
sor,s attention to the financial position
n .he two properties. If the bankers,
,pbo are In back of Mop' are successful
n putting through the reorganization
Man, II is thought, that 1t Will help
aKaty' sentlmentally. A reason for the
weskness in katy was the fact that
N attachment had been secured against
iha property by noteholder. General
chemical extended it's morning gain to
Is polnts before o'clock. The market
closed weak and active. No attention
was paid to the favorable crop report,
indicating record-breaking crop
Il was said that foreign selling In the
market was not as large as 1t has been
IA the last few days. and II the number
Of forward sales in bonds on the tape are
Al Indication of this condition. 1t was true
The question has again been raised of the
floating of big English loan here with
american securities as collateral. 1t is
declared that this loan will be between
100000 and $500 100000. Among the sales
q bonds for delivery in 20 or 30 days
here were quite a few sales of Japanese
Bss bearing German stamps. From this
d was thought that much Of the foreign
iquldation, supposed to have originated
n London. really came from Berlin.
The Bank of England issued the best
tatement today that has been given out
4 the last month. Whereas there has
ben a weekly decrease in the gold hold
AS for the last three weeks, there was
n increase Of 91.173,0O0 (S5,S65.O0O) while
reserves also advanced, the gain being
aISsoO0 Cs3, $780, ,00O). The proportion of re-
ley7e TO liabilities was 17.GO per cent,
ngalnSt $50 per cent. the previous week.