Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-05-28
ROCK ISLAND ROSE
MORE THAN 2.POINTS
Strength Caused by Favorable
News on Earnings-65 Per
Cent. of MOP" Notes in.

NEW YORK. May 2S - Pre- holiday
Z conditions ruled on the Stock Exchange
today. Aside from little activity at the
opening, due to the selling by some trad
srs who did not care to hold their
commitments over the holidays, there
was very little done throughout the
early session. The early selling caused
some fractional declines. but they were
not great The market then held around
the lower level and Mt times became
stagnant.
About the most active were the cop
pers and their action was exactly the
reverse of yesterday, they being weak
And this occurred despite the fact that
I cables from London quoted higher prices
for the metal there. Business here at
the present time, however, is reported
to be small, although the outlook for the
future Is held to be bright
News in the afternoon that several of
i the copper companies had increased their
dividends had very little If any effect on
the copper shares. The larger disburse-
ments had been discounted to n large ex-
tent because of the recent advance in the
price OF the metal which is now quoted at
level of 10 cents.
During the afternoon session there was
very little change in conditions and trad
ing continued to lag. 1t was announced
from Canada, and II was understood
that this was brought in by ]. p. Morgan
& Co. In banking circles 1t was the opn-
ion that this shipment was the forerun-
ner of one of the largest movements of
the yellow metal into New York for some
time, estimates being made that the
final total would reach $l00O0.oOO Tho
import today makes s45Oo,OOO in two days,
100000 having been received yesterday
from France. The stock market closed
quiet and irregular.
There was no particular overnight news.
Reports had 1t that the German reply had
been received at Washington, but, as has
been the case for the last few days, 1t
was not confirmed, and in view of this
the disposition continued to be one of
marking time. Public interest Is still
absent. Though cables from London
quoted the captain of the Nebraskan as
having said that he believed the vessel
was torpedoed. the Street still held to the
opinion that this was not the case, and
there was generally better feeling on
this new factor which has been injected
into the international situation. Many
were of the belief that negotiations with
Germany would be long drawn out.
Strength was impaired to the Chicago,
Rock Island and Pacific on figures com"
piled by the roads receivers, which in
dlcated that there would be a surplus
over all fixed charges, on the basis of
present earnings, on December 81 of
this year of not less than 1893, 900 over
hxed charges. The statement of the re-
ceivers went on to point out that tho
company will be able to meet all its OBJ
legations up to next January At that
time interest of s50O.0O0 falls due on tho
roads debenture bonds. The company has
S500.000 two-Year notes maturing on Feb
ruary 10 next. The stock closed show
ing a gain of more than points.
Uncertainty over success of the
extension of the S25, 100000 notes
of the Missouri Pacific kept that
stock slightly below yesterdays close
There has now been deposited SIG, 100000 of
the notes for the extension, or 65 per cent,
row when the additional ID per cent. must
row when the additional II per cent. must
be secured to make the plan, which calls
for the deposit of so per cent, effective.
Routine news included another batch of
railroad earnings for April. Among the
more important ones were Ontario and
Western. Chesapeake and Ohio and Bos-
ton and Maine. Ontario showed an In
crease of Si9,725 in gross for the month
and net was S9,36l larger. While the
gross for 10 months was S144,245 smaller
the road succeeded in showing an in
crease of $l5O,Sl3 in net. The gross OF
Chesapeake and Ohio was $325,3l7 larger
for the month and the net S245,S9l above
last year; 10 months gross, 81, 1921
larger and net advanced S334.010 Boston
and Maine made an unfavorable showing,
gross being down Sl07,O9S and there was a
deficit after charges of $3SO95, a decrease
of $1S7l4