Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-04-13
BETHLEHEM BROKE
SHARPLY FROM HIGH
rtock Lost 80 Points on Profit
Taking After Selling at 154.
Realizing Sales Heavy.

.,rv YORK, April 13-Violent fiuctua-
49, IN Bethlehem Steel furnished the
...,,rs in the stock market today, and
!. the early trading the activity and
s..,snd for this stock unsettled the rest
,ho market prices remaining either
,.,,orarv or at a level slightly below
~. anal of yesterday. After the first
sour the market appeared to get its
...r,rps and went along with Bethlehem
the upward movement, stocks in
.,rsral becoming strong. Bethlehem
s..chsd the highest point it has ever
"a ts5. lust 81 points above the final Of
.,.,srday, and leap of AZ points in two
asvs Al the close tho price reacted on
tsroet.talting sales, 30 points being lost to
,9s Realizing sales were large.
The demand for Bethlehem was large
and the movements, UP and down, were
,apld. and operations in it seemed to be
=, the will of the interests in back of
,ha stock There was no especial news
On the stock to account for the rise, but
,r,ora were ever plentiful. A Street
news service published long article on
the company's position, in which 1t was
noInted out that the price may go to 200
hafore the present upward drive Is ended.
Then too there was the report that 80
nsr cent. is now being earned on the
common stock Conservative traders were
Inclined to credit the rise to the urgent
covering by shorts, as it is known that
there is a large short interest in the
stock, and many traders operating on the
short side were driven to cover.
There was also report in the Street
that the company would shortly double
lis capital. in keeping with the large
amount of business being done at the
present time,
That there was a large outside interest
In the market was evident in the after
noon session. demand being large, with
virtually everything i'm the list at higher
levels. Advances of one point were quite
common, while many issues showed gains
Of more than this and even as much as
two and three points. 1t was a bull mar
ket pure and simple, with the public in
the saddle and driving prices upward at |
will. The floating supply of stocks did |
not seem to be large and any demand |
caused an advance in the stock bid for
More than usual interest was attached |
10 the upward movement in Maxwell |
Motors common, which was second 10
Bethlehem Steel in seeking higher ter |
ritory, advancing nearly 10 points for the
day. No news was forthcoming to ac-
buted to good earnings and large orders.
General Motors also rose more than
points for the same reason.
In point of activity United States Steel
common was the leader of the market,
while Reading also came in for some at
tention The former before noon had
advanced more than two points, after
being at level below the final of yes
terday. The steel trade is gradually look
m n Iggf. N.,.1r .
bounced that the more important steel
makers of steel shafting have advanced
the price two points on n dollar "A ton.
Some little demand for Reading carried
that stock more than point higher.
The market closed irregular, many
Issues showing substantial gains for the
day, while others were off. The higher
Price Of copper metal, electrolytic being
quoted at l6la cents and Lake Copper
y cent higher, had the effect of showing
Amalgamated Copper and Utah Copper
up more than A points.