Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-24
SHARP UPWARD Squirt
IN STOCKS AT CLOSE
steeI Common Led on Report of
Favorable Decision in Trust
Suit.

Nry YORK, April 4.-The market did
~, develop any definite trend today until
,,u minutes before the close, when 1t
s,,adsnIv became strong when large
..,oprt of buying orders were put out.
Throushout the morning stocks were ir-
-.au,ar the standard list showing mod
.r,,s losses while some Of the specialties
made good gains There was no
,-,,,rtion in the attendance in commits
.,on house attendance today Business,
Aoreyer was not as large as 1t has been,
,,.t,sd states steel led in the upward
srurt at the end of the session, showing
cain Of more than two points the re.
rsinder Of the list for the most part
tauorinr suit The covering of shorts
~ steel Vas chiefly responsible for its
~ T. and rumors we're current that the
i,ii,,or I'm the trust suit would he I'm the
ueo,nanv's favor There were also rumors
~, the steel Corporation would receive
large European orders
Peports that an assessment OF % per
..rt would be levied on Missouri Pacific
.e,sod a good deal of liquidation in that
,..no and at one time during the morn
,sr The stock was full point down. At
ne low level support was met and the
'.s,r repained all its earlier loss and
eeornd up the day with a slight advance.
y, ,yas reported In the street that in a
tsr,ative outline of reorganization OF the
uronertv 1t was proposed to give first pre-
tsrrsd stock in exchange for collateral
,r,st Is and the convertible 5s ana second
rrsferred stock for assessment to be paid
x, the uresent stockholders.
'e,reneth in the copper group was due
a. tbe advance in the price of the metal.
:, was polnted out the companies have
ths business and the earnings, and that
sorditIons for them should improve right
.innu In Inspiration Copper, which was
rotably strong, II was said that the COM
nanv expects to begin operations in June.
when the company operates full 1t Will
hs able to turn out at the rate of lOO,-
No 900 pounds annually, at cost Of
cents pound. Inc company JULIUS
we're also strong.
American Locomotive gained 4 points
.nd its strength was attributed to an ar
tele published by a Street news bureau
drawing attention to the company earn
inrs from the war orders 1t has received.
In this article 1t was pointed out that
the net profits from war orders are suf-
Aclent to practically guarantee the clean.
ny UP of the floating debt, This debt,
an June 70, the end of the last fiscal year,
was $5,474.0O0, made UP of coupon serial
notes This debt was incurred by the
company when it started the manufacture
Of automobiles, and these war orders
are likely to enable IL TO retire the notes
and assume the maintenance of the regu-
lar per cent dividend on the S25,OOO0OO
preferred stock.
That business Is gradually revIving is
shown very conclusively in the weekly
returns of bank cearings throughout the
United States During the last week
there was an increase of Sli9,O69, III over
the corresponding week last year, all Of
the large cities from which returns are
received showing gains over last year
with the exception of two Boston and
Baltimore. In the former the decrease
was 34 per cent, and in the latter Sc
per cent,
Weekly trade reports, too, are rosy
and 1t seems to he generally agreed that
the corner has been turned. very opti-
mlstic tone Is struck by Bradstrcet's this
week, and here Is what they say: Trade
continues to expand, progress is of a GU
muative character and even Concedcdly
slow lines are evincing a more lively dis
position. In fact the general situation.
trade and industrial, seems TO he moving
into new and higher ground, Faith in the
future is more firmly rooted and reports
as to growing crops are nattering South
ern cotton growers are not so strong on
raising less cotton foreigners are buying
new crop wheat freely; collections are
better; seasonable weather stimulates
uade Wholesale, jobblng and retail; ac-
uVlty In the stock market continues. al
noush 1t Is marked by reactions in some
Oh the so-called war order leaders"