Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-09
WIDE UPWARD SWING
THROUGHOUT
!, q steel Common Leaped on
vl OUnLrOl VI SETH
lehem.

-, YORK. April s.-stock market
NhW today we're on the largest scale
opefa'ivn sesumption OF trading on the
since W ~. last December. Demand Tor
txchahse large and this demand came
stoch y. from floor traders, but from
not vpS r. In some places realizing was
speeulhut speus INT this was thought to be by
no'iseol,. ol,.oc,,lators who feared reaction.
tnle sp s,.sre quickly taken as they were
s!oes5 and the advance continued -, -.
cgelsi sales for the day were l'5esSVo
thafes. .,,o. vore rapid and al
..s inward and for the greater part
w. up more than point 10 sever polIlts, pil.ss
were .n,ces w of three and four points
ana s,,t,o common Truly, Il was an old
ve,s w dved-in-the-wool bull market
fssnone ~ Das crowded and much excite
ment prevailed ga rooso, for
Sssnstb of the market today. 1t
we s.,,ributed almost entirely to the
Nss :, trom Washington that Germany
fepOi, i,ss,irnated to the United States Gov
haa mat peace proposals from the
l,l' rsouId be considered. Quite lit
eliss .,ght was also attached to the fact
w w ,.bor unions throughout the civilized
ina, ~ 40 considering a general strike
N9iN ,he continuation of the war.
assn''s w 'ssrcouraRing bit of news OF the
~ ,,htch also helped the upward
,s uaI vas tho announcement by sec
',ary Redneld, that the foreign trace
,.Isrce Of the United States now stanus
" about SeOo, 100000. He also said that
rnrone will still owe us money atter tne
Conclusion Of the war, whlch VIII oe tne
~. lima in history. This but serves to
n1,S, N.Y. ra,o the wonderful financial posi-
NV. ~ This country, and the market was
oulck to grasp It ~ +. A..
a. ~ the most active stocks In the
.,srTst was United States Steel common,
..sanS in that issue being heavy, de-
.,sra coming from many sources. The
.eaor sold up within fraction of seven
roIrts above the final of yesterday and
~ highest 1t has sold on the present
movement.
P.thlehem Steel was not forgotten in
m. inward scuffle The first sale was
M shares Mt 10 to 107 against 1O5 at the
elose yesterday. The price later fell TO
ia and eaped back to lis, and devoted
ths rest of the day to jumping around in
an Irregular fashion, but staying above
i,st nights close. In view of the 29l2
mint lump yesterday, considerable in
tsrest attached itself to the stock, but
many houses showed disposition to let
It alone,
In connection with the advance in
United States Steel common and Bethle-
hem steel, it was rumored before the
close that the United States Steel Cor
poratlon had bought control of Bethle-
hem In the open market. This was re-
Farded In the street as quite possible.
Il was held by many that Bethlehem
would be pressed to the utmost to deliver
war orders, and that the Steel Corpora
lion, which is understood to be running
At about 60 per cent. of capacity, is in
very good position with its immense
facilities TO turn out the orders.
Added to the already long list of rumors
10 account for the strength in Bethlehem
came another in the afternoon, and that
was that Frick interests had obtained
control Of the property. The story in
many quarters was not credited, but
then It served as something to talk about
as the cause of the rise. Then there was
the old story of a squeeze of shorts, and
that there is a large short interest was
shown In the fact that one-Quarter was
paid for the use of that stock. The pos
slbllity of a corner was also heard.