Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-10
EL UNED SHOWED NCREAsE OF o22 ToNs
siIlCKS MOVED UP;
MARKET OVERSOLD
specialties and Coppers
a on Swing to Higher Ter
t0ry

voRK. June 1O-Disregarding
~" orosnt at least the strained
stlonal relations the trading eie'
.oaav gave more attention to the
nta tfo ,,,,damental condition of the
h''h ,he prospects OF a record-break-
aaa s9pus ,ro, a billion dollar foreign
et 81 ,.soo for the fiscal year and the
. cog and abundance of money-wlth
y. .' ,s.ut that prices were marked up all
!, nd during the early session on the
=. IN exchange today
" 49,. contributing factor to the ad-
nrices was the small hoating
lns ,, II stocks, indicating very plainiy
in. nFytAe market was in an extremely
ltf Wv abniral position and able to
"a ff hard knocks. That unfavorable
4 Tod si doyplopments have, in a
H. rHNW 80, discounted was shown
iNss,.inIv in the trading yesterday
iNl w resipnation Of Secretary Bryan
ssa "a merely temporary sttOack' re-
1la soe more from the cieanlnB OUT Oh
IL tlv tlv,1 accounts than selling ny scared
fiaA All in all the market today was
= iialffs s.,.arsold condition, buying orders
hr Z " y, ,i,,se being much larger than the
A i. q ail y. NH rims when an order was put
Hgpg INV there was active bidding and
~. we're showed UP easily.
~ P9.s bseome the custom of late on
J nar,ard movement for the war spe-
eiss 10 lead the way to the higher
,s,y and this was not deviated from
W si,boush the copper shares put in
: hi, w, h,d for attention, and between the
IN p ~ sro,,ns the trading was centred that
= w ~ isrger part Of II, while the stand
- ...,ss were again inactive. The old
Y 4. issues. however, principally the
= 5s,,dsnd payers such as the big rail-
= -,ds, we're pegged up In sympathy with
I s. ~ rest Of the market. Gains around
n, ,1asv ranged from 1 to nearly points,
.s w e.rsrsl Electric scoring the largest ad
v - while Bethlehem Steel came sec
a strength In the coppers was large
\, h,e TO the further advance in the
!, s,ss of metal to 20ls cents. Copper pro-
a 4 s. sacsrs are only making quotations for
rrompt acceptance ana the demand for
N = ~ metal is understood to be large.
- IL was generally expected, the report of
!. : y Ana orders of the United States Steel
N cornoration on the books at the end of
II - lay was larger than the previous month,
~ ~ Increase amounting to 102.354 tons.
~ IN total OF untitled orders on May 81
qsvl as iIgl.59S tons, against 4.162.24 on
sk lnrl1 In anticipation of this favorable
sbowing and the expectation that the
r.r quarterly report of earnings VIII
II, show an Increase, the common stock
ius 4 The corporation was strong, going
+ sihln A fraction of two points higher
lslure the end of the first two hours.
Al present the incoming business of the
piporatlon is at the rate of about 10000
tsas day. This is the best since the
Improvement started. Incoming business
ia he previous four months of the calen-
dsl year averaged between 10000 and
400 tons The full productive capacity
Is 500 tons day; therefore orders now
are but a few thousand behind full.
0ptratons are at the rate of so per cent
When the favorable statement had been
lssmlated in the afternoon the market
b general moved a fraction or 80 higher,
Steel itself succeeding in collecting a
tile more. showing gain of two points.
There was some little liquidating all
rdund but not to any great extent.
Socks were very well taken and what
little losses were made were decidedly
fnalL Trading was not as large as
during the morning session. The market
t1sed strong.
Adding to the general situation was the
belief that the note to Germany was by
% means an ultimatum, which was borne
aui by statement purporting to come |
rom high official sources. Therefore, the |
Erect as whole, still believed that |
as differences between the two Govern |
nsnts could yet be amicably settled. |
zone people went so far as to venture |
g predict that Germany might yield to |
= lI demands, on some points at least.