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Show Financial Currents of the Week MONDAY The action of the supreme court In assigning for rcargument the famous cases of the Standard Oil and the American Tobacco company, which Insured a postponement of a final decision de-cision until fall, stimulated activity in speculation and caused a marked advance ad-vance In prices. While opinions varied as to what tho result would bo, thero wa3 general belief that tho big corporations corpora-tions have thus secured another period of Immunity from attack by government prosecution. Bonds were stronger and more active. TUESDAY Tho action of the stock market was watched with curiosity and somo anxiety for Indications of the wider effects of yesterday's action of the supreme su-preme court and the effect it will have In delaying the final settlement of tho trust cases. It was evident that tho violent rise in prices yesterday had brought into the market large selling orders, or-ders, both for home and foreign account. Side by side with those was an influx of further buying orders. Tho latter were bel'cvcd to bo largely for short account, the bears having become alarmed over the sudden rise of prices. The toning down of the first effects of the supreme court's action was duo to tlio more conservative con-servative view taken of Its effect by the financial and business community at largo than by tho stock market element. It Is believed every large corporation will fool Itself proscribed In Us plane and In the scopo of its activities until the question at Issue in the unit-trust cases shall bo defined and settled. An early decision would have been preferred therefore, to tho Indcnnlic postponement Involved In I tho rehearing of the cases. WEDNESDAY The rise of prices of stocks which occurred was without any change in conditions to explain beyond a rather marked concurrenco of speculative specula-tive sentiment In its favor. Thero was a general conviction abouL the Btock exchange ex-change that tho advance had the assent. If not the active co-operation of tho financial groups most Influential in market mar-ket movements. The movement In United States Steel was the most effective effec-tive factor In conveying this lmprosslon. Bankers and corporation representatives expressed themselves hopefully of the prospects for business and of the good effects of the putting over of tho decision de-cision of the anti-trust coses. It was notlceablo that tho copper stocks shared in the advance, although It had been takon for granted that the contemplated merger would be held in abevancc until the anti-trust cases define tho permissible permis-sible Held for such a merger. THURSDAY The stock market gave further evidence of tho ordered and svs-tematlc svs-tematlc proceedings of the large operatives opera-tives supposed to be responsible for the advanco of the day. Stocks which were strongest yesterday wore subjected to a process of profit-taking at dlfforent times today to take advantage of the new demand de-mand attracted rom outside sources by the demonstratlpn of yesterday. Tho new tjemand was roportcd to be considerable, as shown by tho buying orders received by commission houses. The market's greatest show of strength developed In new quarters. The aggressive measures employed for carrying on tlio movement and tho proof given In their scope of tho possession of largo resources gave confidence to a speculative following and Intimidated the professional opposition. The retreat of the opposition by covering cover-ing of shorts was a material factor in the market's strength. FRIDAY Operations for tho rise In stocks encountered somo obstacles, which caused a hesitating and Irregular movemont. The causes of tho market's action were largely technical, and actual newa still played small pari In tho dealings. deal-ings. Tho advance In prices this week has resulted in attractive profits for those who held stocks from the beginning. Consequently Avhen thoso who are fostering foster-ing the rise hid up prices further at iho outset today, there was a considerable volume of selling orders on the advance from those desirous of realising their profits. The offerings proved heavier than the bulls cared lo accept, and prices ranged lower, with a subsidence of offerings. of-ferings. SATURDAY Opening prices of stocks showed mixed changes and the trading was quite brisk. The low range of quotations quo-tations in London pulled down somo of tho International stocks a fraction. International In-ternational Paper preferred declined 1. Federal Mining preferred roso 1. American Ameri-can Steel Foundry, 3. Dealings livened for a while on active buying of the copper cop-per stocks, but when that demand was satisfied trading again became lifeless. Tho market closed irregular, Tho aggressive ag-gressive advance In tho copper stocks was of light ' effect. Rumors wero current cur-rent of heavy sales of copper motal as n result of tho week's cut In prices. Speculation Spec-ulation in general wna inclined to await next week's showing of the extent to which public Interest in stocks haa been aroused by this week's rlso. |