Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-19
sHORTS COVERED
ASPRICES ROSE IN
AN ACTIVE MARKET
r.,s,aI List Showed Good
advances Ira d in g
|, pfoadest Since Exchange
Reopened.

- Work., Jan. 19.-The stock mar
~ ,.a.v was the most active and broad
.,res the resumption of trading
ENG of shorts was the principal fac
a.,ermining price movements, and
s..,le.lly the entire list made gains of
~. 10 more than two points. and in
p'' .,,oItiee a larger gain was made,
wig spssrried the range of quotations TO
shch 1ast S, level reached since the eN-
" onened. The short covering was
einse eoro,,nced in Reading than in any
nols .ssue The stock moved up to l5l.
~. =, rom the closing yesterday, and the
- noipt on the present movement.
hwS been noted for some time past
:. Y I, ',"arzIstent accumulation of Reading
~ syldent and today this buying eX-
s.,sd whatever supply was In sight
Ind recently prevailing prices Prom
80 Philadelphia houses mad large Duy-
gsN iasrs In IL all through the fore
nl MI only a small part of these
leop, eouId be executed because the
ICY, ssss, price quickly passed the buying
Ill., assn..our, Pacific attracted a great deal
n.,.ntion by advancing 2l5 points to
Y y ssor, the closing yesterday. 1t is
~ .aoarded in some quarters that the
prany,a ~ finances will be successfully
ys.sI~htsned out and 1t is expected that
Nhsnee in management will occur at
- annual meeting of tho stockholders OF
=. rompany on March 3, when 1t is eX-
..,,sd that Kuhn, Loeb & Co. Will take
,be Gould interests. A meeting of
..i ~ ~ members of the committee repre-
.s,,irg the bond and stockholders of the
..s,nsnv was held yesterday, but no an
...rcanent was made as to whether any
a. was decided upon. A statement
"a. in 81. Louis today was to the effect
~. Could holdings Of the roads stock
4, less than 241 shares.
n.scussIon of the short interest at
,..s,ed attention to the position OF
,,sl,.d States Steel common. The short
,s,sr,st in 1t is said to be of huge dimen-
Sors but the bear operators committed
/. AZ short side have been confident of
M.,r positIon, because of an expectation
Al, tha statement to be issued next
s,ssday will cause liquidation and fur
IN ample opportunities for covering.
rotton prices today continued their ad-
upelng movement in the early trading,
IN fell off around midday, while the
Nice OF wheat at Chicago declined on
siher heavy selling.
The December trade statement, Whlcn
,Aosed an excess of exports over imports
II nearly SlS2, 100000, had very good ef-
i,d on sentiment. The statement was
iruly a remarkable one, when it is con-
riiered that our foreign trade has passed
through an unprecedented period. 1t
,hows also the effects of the big orders
Hhich have been received by our man
,aeturers since the European war began.
Call money loaned at per cent. and
ID foreign exchange market was steady.
On the announcement of an increase in
he preferred dividend on Bethlehem Steel
ns stock advanced points to 10l. The
cannon in sympathy, rose 4 to 5Sh,
% Y from the closing yesterday.
Canadian Pacific touched 1878, up 3h
points This stock was strong in the
aarkst yesterday on the announcement
that the company will pay off its out
Standing bonded indebtedness. There Is
general feeling that the road will be
Llowsd to increase its freight rates.
Men Haven moved up 2h to 81. Le-
hgh Valley gained the same amount by
going TO 1857
H. Rumely stock was not noticeably
iHected by the application for a receiver
for the company, The stock was quoted
tx, off u from the close yesterday.