Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-08-28
MAREiET EASED OFF
A TRIFLE AT CLOSE
Rock Island and Tennessee Cop
per Turned Weak - Pitts
burgh Coal Issues Feature

xrw YORK, Aug 2S.-stocks were not
- active In the trading on the Stock Ex-
'hange I'm the short session today. While
nticc movements we're not as wide as has
been the case IN the last few days, they
.erc. with few exceptions, upward, in
,efest still being confined to the war
sfecialties. and the prospect of additional
,sar orders was a considerable item i'm
tcepIng these issues In the limelight AS
tae been the case for some time now, the
railroad shares Jagged. A large amount
Of trading was Of an evening up sort over
ne Weekend. as is generally the custom
~, saturdays.
Pittsburgh Coal issues furnished the out
handing feature of the day, both the
eommon and preferred being strong, the
former moving up over 3 and the latter
Az points before the end of the first
hour From time to time, in the last sew
eral weeks especially. there has been talk
Of some favorable developments for the
company. While the copper shares, with
the exception of Tennessee Copper, were
strong on the higher price for the metal
ana the better demand, both here and
abroad, they did not show large ad-
vances. Tennessee Copper was weak
spot, at one time being off 3Jk points
Texas Company developed some strength
and rose over points.
Late I'm the day there was some profit
taking and the market sold off from the
davis best, Prices, as a rule, were up
for the day, however, but there was con-
sIderable more irregularity than for the
last four days. Rock Island was weak
as was Tennessee copper. The foreign ex-
change market was heavy. rates going
down to, the previous low point for ster-
ling, reached yesterday.
No better illustration that business con-
ditons throughout the country are on
the mend, and steadily, too, Is needed
than the weekly statement of the volume
OF bank clearings of the country. In
the last several weeks the increase over
the corresponding period of the previous
year has been tremendous, and this week,
for instance, there is an expansion of 52.2
per cent, all of the large cities coming
in for advances with the exception of
Baltimore, which showed decrease of
slightly more than II per cent.
Another very favorable factor to the
general situation is the abundance and
cheapness of money. so with the COM
plications of the international situation
out of the way, and the assurances are
that they will soon be a thing of the
past judging from the optimistic reports
which are being received, there should
be no reason why business should not
have a long and uninterrupted upward
turn. .
Aside from the international situation
there is another thing which must be
adjusted, and that is the foreign exchange
market 1t is realized that something
must be done to put rates back on a
normal basis, and that will probably be
accomplished when the British and
French bankers confer here on the ex-
change situation.
The fact that the United States for
the FIRST time in history is the leading
country as an exporter creates no little
amount of optimism as to the country's
future. In the fiscal year ending June
~ according to figures just given out.
our experts showed an increase of II per
cent, whereas for the United Kingdom.
which has always led heretofore, there
was a decrease ofsi3O per cent. due. of
COURSE In large measure. TO the war.