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Show BUYING MOVEMtNT STARTS WALL STREETJ3ALL ROLLING General Advance Along the Line; Copper Securities Securi-ties Strong, Utah Going Up to 48 5-8. By BROADAN WALL. Ey International News Service. NEW YORK, Dec. 28. Prices opened dull and firm. Within a few minutes a buying movement developed and advances ad-vances ranged from one co two points. Dullness without weakness followed, succeeded hy renewed activity and a continuation con-tinuation of the upward movement that closed stocks at about tho top. Buying- orders from Pittsburg for Steel. Reading a nd other- leaders startled the Hmali shorts and gave the first impetus to the advance. There was a feeling- of relief as stocks drew away t'rom the "peg" prices- Tho ; itcLion of Steel common was wm tched ! closely, as a key to the present indus-I indus-I trial situation. This stock moved easily i from 4S to 4! and, after a slight hesitation, hesita-tion, advanced to Union Pacific rose two points on small transactions. Southern South-ern Pacific moved more slowly, while Pennsylvania recovered to 104$. Reading Prominent. Speculative Interest shifts all around the room, but Reading always manages to retain prominence in the day's work. It was the leader todav In point of activity, ac-tivity, with a gain of 2J. Lehigh Valley jumped two points on the turn of 10u0 shares'. Tho speculative supply of this stock has been much reduced and quotations quota-tions were about two points apart between be-tween the bid and asked. Copper stocks were strong, with an advance in TTtah to 4$g. Recent reports state that this company has reduced the cost of production considerably. Amalgamated Amal-gamated Copper rose from 504 to 5U. Alaska Gold advanced from 25 to 27 in the late dealings on a revival of the rumor that rlghU will shortly be given stockholders. Beet Sugar advanced to Ii3i. Drop in "Katy " Missouri, Kansas & Texas dropped to Sh, a new low on the closing out of stock held as collateral in a loan. This enforced selling broke the price, in spite of good recent earnings. For the third week in December gross earning increased in-creased 548,000. Odd-lot brokers found it difficult to fill orders at anything like fair prices. On signs of strength there is a general can-cella can-cella tlon of selling orders, and traders refuse to supply bids, as Is the custom in more active markets. Bonds were strong, with the volume of business good. "Business is very near a turn for the better in Wait street," remarked one of the older members of the stock exchange, to the writer today. "At least a dozen members have signified their Intention of retiring from the brokerage business at the first opportunity, as they see no hope of a revival of speculative interest." inter-est." This state of mind on the floor usually marks the turn. The writer has Observed Ob-served it on two other occasions. |