Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-26

WEAKNESS AT CLOSE
ON REALIZING SALES
steel Common Led on the
Downward Swing in Wall
Street.

xEw YORK, April 25.-Most interest
IN the stock market today was attached
a ,hs copper shares, which advanced as
,hs result Of the further marking up oil
IN. nrlce Of the metal, one large agency
,uotIng 1si, cents a pound for domestic
s.uvery. A list of higher prices was also
-, over from London. The business Of
~. conner companies was reported to be
..n,dIy Improving, as the demand for the
IIsppdrSt Is becoming larger Upswings in
isis branch of the market were on an
average Of III points.
Antivitv was on a fairly large scale,
..suitInR from an accumulating of buying
a,ders over Sunday, and the market
started with pronounced strength The
Ssmand brought out quite large amount
AZ stock, and the list became Irregular
gn,,ns the latter part OF the morning
ssssior The ability Of the market to
sh.orb the stocks offered was favorably
commented on. The technical position, It
was thought had been very much i'm
r,oysd in the last few days, as the stocks
sold we're finding their way into stronger
hands
After midday there was a dlmunltion
IN the volume OF activity, and selling
nrders were larger than the demand, re-
suItlng in very irregular market
weakness of Missouri Pacific and Mis-
souri. Kansas and Texas, both declining
more than a point. served to unsettle the
market. particularly the railroad group,
and also restrained trading to consd-
erable extent. The decline of these
shares was attributed to uncertainty
ovsr the future of the roads.
odlcials OF the Missouri, Kansas and
Tsras and prominent bankers held a
Meeting today. and at it's conclusion 1t
was said that an announcement regard
ing the tl9 100000 of notes due on May I
would be made later In the day. 1t was
believed that the time for depositing the
notes with the Central Trust Company
will be extended to May 1. The opinion
was expressed that about 70 per cent. "
the notes will have been deposited by the
close OF business today.
In the face of heavy realizing sales, the
market closed weak. Even the copper
shares sold off in sympathy with the rest
OF the list, and many shares closed below
the ANAL Of Saturday, United States Steel
common led the decline.
Movements in Reading. which sold eX-
dividend, attracted some attention, NOV
ing up nearly IL before noon. The rise
was thought to be largely due to the
covering of shorts put out on Saturday.
United States Steel also moved UP
,llEhtly Reports have 1t that the de-
cision OF the ANTITRUST SUIT VIII be laVOr-
able TO the corporation and that it will
be handed down during the present week.
Steel was freely supplied at the higher
level and it sagged below the final Of
Saturday.
Improvement was shown in Chicago,
Rock Island and Pacific being helped by
the statement of Samuel Untermyer that
be was ready to cooperate in finding
money for the road, with the purpose
Of taking II out of the hands of receivers.
This did not succeed in holding the stock
At the higher point and in the afternoon
session Il sold off
In the batch of news of the day were
the March earning statement of the
Atchison and Northern Pacific. The
former showed a decrease in net for the
month and increase in gross, while the
latter had an increase in net and a de-
crease in gross, the larger net earnings
probably being largely due to the judi
eious pairing down of expenses.