South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-06-30
MARKET FACTORS
ARE ALL BEARISH
German Successes and Calls
For Foreign Account Liqui-
datiOnS SIaCkenS Trade
Export Trade Big.
By Broadan Wall.

NEW YORK. June 3O.-The bears
had their fling in Tuesdays stock mar
ket; not that short selling predom-
mated, but that the preponderance of
news and other factors was bearish
Germany's recent successes on the
battle fields and q moderate renewal
OF liquidation for foreign account
were the early unfavorable elements
In the afternoon trading slackened
perceptibly to await reports on the
city's big bond sale and closing prices
were near the lowest when IL was
learned the price received for the cor
porate 4 1-2's would not be far over
1O1 IA.
Reading, Canadian Pacific. Ameri-
can Can and Goodrich led in activity
In the first issue. interests close to the
company are understood to be accu-
mulating a good line. resting up now
and then until the price is forced low
er and then Teappearing TO purchase.
The stock closed off nearly ? IL
points. Canadian Pacific sold at 141
"a, the lowest in seven years on a
very poor earnings report for May.
The stock recovered over "A point, clos
ing at 143, some three points under
the previous close. American Can
was strong presumably on war order
prospects. while Goodrich advanced
I A TO 80 SIS on reports that the con-
Germ Will be successful on its entry into
the rubber boot and shoe business.
thereby becoming q competitor or the
United Staes Rubber company, which
heretofore has had a virtual monop-
oily of this industry.
Some specials like American Coal
Products and General Motors rose
sharply.
If theories repeat. the first few
weeks in July should witness a wave
of solid bullishness accompanied by
great activity and improved prices,
since the July crop condition report
issued by the government around the
10th of the month has in previous
wears proved a line of demarkation.
ON present promises last years bum
per Yields should reappear.
Coppers opened buoyantly with
Amalgamated and Utah up fraction
alIy .>ut later they SuCcum bed 10 the
lists general weakness.
The financial district luminaries
will soon be off on the annual fur
Tough: Judge Gary Of the L. s. Steel
Kahn on July 8. Both fight shy of a
trip abroad. Mr.. Kahn leaving Tor
Maine and Judge Gary for q seeing
America" tour with the Panama-Pa-
CifiC exposition as an objective. MT.
Kahn will be gone a month and Mr..
Gary all summer.
Reports of poor traffic on the Ca
madam Pacific system are verified by
the Nav returns. Gross was fully
S25OO.OOO below a year ago and So
ESQ 600 under two years ago. The loss
in net was kept TO only 100000 by a
slash OF over S2.OOO.0OO in operating
expenses. Revenues for 1 1 months are
S2S.OOO.OOO less than last year and
net 100000 No official state
ments on the forthcoming 2-1-2 per
cent quarterly payment on the COM
mon are yet at hand.
Tomorrow the fiscal year. 1913. Will
end and the United States has rolled
up in the y months an export excess
of some S1.O5J.O0O,O0O. Until Sep
tember exports should diminish per
Ceptibly-cOmparsd with the last SIX
mOnths-unless the shipments ABROAD
of war munitions and manufactured
products surpass expectations. rms,
since Europe is now harvesting her
grain crops and therefore will remain
out OF the grain market temporarily.
Practically all the cotton that will be
sent abroad for two months has al
ready been shipped. But wage earners
need not fear for their pay envelopes,
since the metal trades here are swing
inc Iustilv toward capacity production.
the textile trades are flourishing and
home consumption CT the south's sta
Mo is ON a scale never before equaled.
In tho meantime in addition TO the
conflict on hand. Europe viii have TO
worry some over the way in which she
,,-;1l nav her big bills here.