Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-16
pFADTNG AND LEHIGH
VALLEY LED UPSWING
n.olaration of Regular Divi-
asnds by Both Companies
Helped Whole Market.

-y Work.. June 1e.-Stock market
fnM ,s today were influenced wholly
opels. nnprecedented situation in the
BY ~ evchanRe market, the rates for
fofelsis sterling yesterday falling TO the
1en., mint in history, A,I69s. There was
loNess+ai disposition to restrict dealings
M some definite step has been taken
VI rsstore steadiness TO exchange on
~ Therefore prices moved In an
hou..i.r rut with a little proiit-taking
lfesuns,d there. All through the Street
heie vas a general feeling to await
theIs de1nite news, principally of the
sVn .tIonai affairs, which were intensi-
s.edov for the moment at least, by
hea araner reports that the envoy which
nescsrnan Ambassador sent to Germany
lae ~ reality a spy masquerading under
.ssther name but his own; Inc street
a',,sd news from Washington as to
sWeh hyt aside from saying that 1t was
e Ned nothing was forthcoming.
ags ass,ss IN the foreign exchange market
s,eadier today. and demand sterl-
~ moved up a fraction. There was no
ma ias however. The chief concern OF
e,reet was what will be done to
W ~. rates back on a normal basis again.
gessrouoh as large imports of gold-the
.ao,nt received since the first of the
80 totalng s10S,915,0OO from all sources,
naTf
ys had no effect, except a temporary
~ bankers are again talking Of the
Enlistment of large credits by the
s,nropean powers here. Nothing along
t. a. line has been done as yet, and the
Ns.sral opinion here is that the inita.
.,eo should be taken from abroad. Late
4 fbe day demand dropped back to it's
law. A.76Ss, and then to new low of
tis 5-l6
Wi,h our trade balance increasing con-
,.ntly. with the outlook for a billion
aollar balance by the end of the fixed
ssar ending June 30 1t is realized that
smething must be done to offset this
Isdebtedness In fact, 1t might be
ststed that bankers here would well
sorne considerable liquidation of foreign
heid American securities.
IN the stock market during the MORN
ns session United states Industrial Alco-
hoi was the feature, advancing 5JR points.
Baying of this stock was said to be by
pooI and that the company would change
control. The advance in prices of GER
tain products by the Steel Corporation
helped that stock early in the day. and 1t
rose good-sized fraction, dropping off
hter II was said that some very favor
able news would be forthcoming on the
steel Corporation in the near future, but
what II was no one seemed to know.
Trading continued quiet in the after
noon although there was Improvement
in prices, and the market was more
steady than during the morning. Beth.
lshem Steel was the weakest issue, losing
I points, while Canadian Pacific moved
pp1h
Responding to the declaration of the
regular dividends by the Reading Com
pany and the Lehigh Valley, the market
became strong in the late afternoon and
recoveries were in order throughout the
list Reading and Lehigh Valley were
each lifted Ia and orher shares, w.,h
few exceptions. went along. Prices did
not generally hold at the top, but never
heess the ending was strong. In some
quarters anxiety had been expressed over
the Reading dividend.