Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-18
6GNADIAN PACIFIC
STOCK FEATURE IN
NEW YORK TRADING
Out of Business
Continued Today - Some
Foreign Selling in Evi-
dence-Price of Cotton
ljp Again.

,,yy YORK. Jan. ts.-The broadening
!, the trading on the stock Exchange,
In besan last week. continued today
i. day was the most active since the
s.,hsnee was reopened after the long
,slon. Several issues which had not
.,a,ues,y been dealt In, or not to any
extent. were brought out. The bet
z, dsmand was based on the favorable
a, statement on Saturday and the re-
80 m improved trade conditions.
iitsr showing strength at the opening
r,acuonary tone set I'm around mid
J snd IN the late afternoon another un-
w o,sd display of strength occurred.
~. ,ndustrials were the most active.
lnong the more active issues In the
~ business was Canadian Pacific
~s,ch gained IA points by going to l6i&.
~ rise was based on the fact that the
"a viii pay Off all of its outstanding
t..ded indebtedness and the fact that
!, ~ applied for an increase in freight
~, Traders held that the stock was
rood huy. inasmuch as when the bonds
=. naId off it will be free from all debt
n the early trading there was some
..,,,ro Of foreign-held American securi-
~ AT the higher prices, but the supply
N stocks was not great. When an up
lrrn followed the early reaction, the
orders TO sell for foreign holders dis
appeared.
other issues which were active and
h,sber we're Maxwell Motors first pre-
g,pred. I'D 3SA points at 57h, and the sec
ohd preferred up 1% to 1885. California
pelroleum rose 3h to 1875, and the pre-
fsrred advanced to 50s4, up 394 points.
reading sold up to 149, up 1% from the
dose on Saturday.
Bethlehem Steel directors meet tomor-
tow and it is understood that they will
Increase the dividend rate on the pre-
l.rred stock to per cent. No one here
has definite idea about the prospects OF
ne common stock, but buying today was
seeompanied by assertions that earninGs
u 1911 we're equal to 10 per cent on the
common stock.
Some of the large selling agencies have
moved up their selling price for electro
tyre copper to "a cents and some large
crders are said to be under negotiation
Al that price. The demand comes from
sainerous sources, but most interest Ia
attached to heavy buying by Japan.
which is supposed to be for account of
Russia. It is estimated that the pur-
ehases by Japan of copper metal since
last Friday total 25,OOO,OOO pounds. This
tdyance IN the price OF the metal caused
strength In the copper shares.
Missouri Pacific made new high record
by going to II, up 2Ss from the close on
saturday on the report that Rockefeller
interests had bought control of the road
4 IN the open market. In any event. it
: d generally regarded In the Street that
ne outlook of the company financially is
Fighter.
The greater amount of activity In the
stock market extended to bonds. Trans
actions In banks outside of the exchange
Ne also on a larger scale. One promi-
nent house on a single day last week
told 100000 in bonds, or over three times
as much as were traded in on that day
On the New York Stock Exchange.
Call money loaned at per cent. The
ioreign exchange market was higher, de-
mand sterling being quoted at 4Sil4.
Directors of the Amalgamated Copper
Company will meet on Thursday, and it
b expected that they will declare a
dividend OF so cents a share. the same
y The preceding quarter.
Another upturn in the price of cotton
occurred, sending quotations from 12 to
cents higher.
Delaware Lackawanna and Western
stock sold at 425. up 10 points from the
AZ previous sale, and then reacted 5
points.