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Show STOCKS BREAK SHARPLY IN EARLY EXCHANGE DEALINGS Undertone Is Strong, However, and There Is General Gen-eral Improvement Before Close of the Day. By BROADAN WALL. By International Nl-ws Sendee. NEW Yi irk, Jan. 7. Early -sharp 1 breaks in several specialties failed to un- j settle the general list today, thus giving! distinct evidence of tho underlying strength which assorted itself in the afternoon. aft-ernoon. J udgo Gary's (statement advising caution cau-tion apparently has disappeared as a market intluence. tor tho general improvement, im-provement, in the standard issues was I most pronouived in Steel common. An-; nouncement of the wage Increase by th; Steel corporation had a stimulating Influ- ' ence on Independent Steel company stock. Tho expect a l ion is that there will be a general increase in wages by these companies, com-panies, thus stilling the growing agita- j tion reported among steel employees In . favor of strikes. Oil shares were strong, and recovered a substant ial part of tire recent decline from the high level. Mexican Petroleum led this group and rose o points. California Califor-nia Petroleum was also substantially higher. Coppers Firm. j Railroads displayed a good undertone, i but their galna were confined to frac- j tions. Coppers were firm. War stocks , were irregular. Crucible Steel showing-heaviness, showing-heaviness, while Baldwin Locomotive rose more than 2 points. i Recovery of the oil shares was attrlb- 1 tiled to reports that Edward L. Doheny has returned from the Pacific coast and that announcement of the details relative , to the oil merger would be announced 1 shortly, lu-juin". however, at the of:"ices of the Meic.ui Vetroloum company lo-iaV recfiveo. ihe answer that ho had not returned. re-turned. Speculath e feeling continued act ive in Mercantile Marino shares. Tiu: c(mmon stuck rose more than one point and tiie 1 preferred nearly three on report thai a ! second reorgmhy.Htlon idan is being considered con-sidered under which the preferred stu.-k is to receno for everv od share one share of new common and the full hack ! dividends in new common. Some Buriwd Fingers. Tiie tire 1 hat has been smoldering in the Tennessee Copper and International Agricultural Chemical camps for weeks hroke out in llames. today and tnanj speculators who were flirting with ihe shares were burned. "Weakness of the two was pronounced throughout. Interna Inter-na t ionul preferred d ropped more U 1a.11 ! points to till, while Tennessee declined i"a points to oSlx. The weakness was due to publication of a statement that tho Tennessee acid plant may have to be closed on account of necessary repairs. Activity in Wool worth common and an advance of more than 3 points to a new high figure was said to be based on expectation ex-pectation that the dividend will be increased in-creased from 7 to 8 per cent, at the directors' di-rectors' meeting next Wednesday. learnings learn-ings during the holiday season are, said to have been unusually large. In the bond market New York Cei'uVal convertible debentures sold around t he It-high It-high record price. Anglo-French buir were strong. |