Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-05-12
9lvE OF SELLING
CAUSED WEAKNESS
y. Reacted Sharly Before
'g c,ass After S tire n g t h
throughout Day.

voR<. May i2.-Dehnite action
Ssr ~ things-our stand toward Ger
the Lusitania tragedy and
~ ~ not italy will enter the Euro
sf''"s on the side of the Allies-kept
"A. 49,, ~ in waiting mood today. From
.,.,,on came the news that the
,.s, has determined his course of
fi'' 49,, what this is no intimation
zion In regards to Italy, reports
- mat the concessions made by
..,,ta had been rejected anu t'7' ''e
As.si.s polnt was near.
ksaNa,s as.rket at the opening was irreEu-
lns adlna issues making fractional
M a. any signs of further advance
lAns, gsre quickly supplied and there
focM ,.ndencv to sell off The effect,
~ vas comparatively small, and
l'Hss,,i,,y Of the market to absorb offer
las eD.'' "a, 'oood Buyers and shorts got in
NJ .t,gbt decline and the market be-
I, y. " .,rong before midday.
nns 's,ysnath was maintained in the
ion Nv session. II was believed that
w .S.snce was at the expense OF the
y. ,ntsrest. The Government weekly
ils 'a.ss rsport which was issued after
w vps an encouraging document. 1t
lsN ',s continued Improvement In the
w wheat outlook. Good rains fell
'.a.,,uy over nearly all districts.
saye Of selling orders appeared in
4. ,,,s trading, and generally the gains
.,.d during the day were wiped out,
n, N Il not few cases prices even went
Nav ~ the final of yesterday or touched
y. stosnR Losses ranged from a frac-
~ n over points, the largest de-
~. bsing in the specialties, which had
s4., 'savr the greatest strength. For few
a,.r,ss there was some signs of recovery.
T., .hls aid not last as the proiit-takinE
N. we're larger by far than the demand
~ the market closed weak.
Ths late selling was attributed 10 an
..e6narned report, current in Washing
M hat the state Department had re-
sa,s,ed Ambassador Gerard, at Berlin, to
s,tlfv Americans to get out of Germany
1, soon as possible.
stsel common got back into form be-
,ore the end OF the second hour. and as
aimed leadership, rising over point
ma advance was no doubt largely due
10 better reports from the steel trade.
rhjch we're to the effect that spectiCa-
tcus against contracts for steel products
paced on both domestic and foreign ac-
aunt have increased somewhat since the
INT OF the present month, and that
M steel companies have increased their
reduction Of both ingots and finished
Material. A further advance was made
81 Steel In the afternoon, and gossip
IA II that there would he some favor
sDs news in the near future, Many
Jumped at conclusions and decided that
ihls must mean decision for the cor
pMaton in the antitrust suit.
largest gains were made by the special
uts which have become known as the war
rocks, and in this connection came the
,stimate that war orders now placed in
this country total $780, 100000, and con-
lfacts to the amount of $3.50 900 are
ysndng. The Westinghouse, for instance,
1, expected to close a big order for rifles
before the end of the week, and the stock
moved up over . points. Bethlehem Steel
Of the second hour. Bethlehem Steel
came along with gain of over points.
Reports from Boston that there are
Inquiries for between 5O,0D0,OO0 and G0,OOO,-
~ pounds OF electrolytiC copper were suf-
hrlsnt to turn some interest to the cop
ptf group. Russia has the principal in
Vury out, being for l5.OO0 tons, in add-
ton to 10000 tons of spelter and 5000 tons
q aluminium.
As has been expected for some few
days more gold was received from
france today the amount being s., OOO, 900,
Ehlch is the largest shipment for some
time
Bankers are of the opinion that more
d the yellow metal will come in in the
hsar future