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Show STOCK MARKET OPENED " i WITH GREAT ACTIVITY: Speculative Issues Are Features of Advance; Professionals Pro-fessionals and Public Are Interested. NET ror.K. 0--I. 10. Od a further atrurau-la;!jn atrurau-la;!jn of baying orders from professional and public hoorctu, today's stock market opened with a fresh demonstration of actlTlty and strength, speculative Issues again featuring the advance. Mexican Petroleum one more claimed attention atten-tion by reason of irs spectacular course, rising t2 points to the new high record of 194, but suddenly reacting to 175 in the heavy selling of the last fifteen mlnutea of the session. Many other prominent Blocks, especially American Amer-ican Smelting, rail- and shippings, among which arly gains extended from 2 to 6 points, also yielded much or all of their itdvanee. I'niced States Steel was a notable instance, declining sharply from its top quotation of 114 to 110&. and closing at a loss of 29i points. There were no surface developments In explanation ex-planation of the market's abrupt reversal, and in the absence of more plausible reason the break was attributed to "Washington's rejection of Austria's plea for an armistice. In nil probability the market for certain stocks had become somewhat vulnerable and traders, availing theielvea of this condition, sold freely, with resultant uncovering .or many "atop loss" orders. Total Bales for the two hours amounted to almost 000,000 shares, exceeding In volume uay other two hours of Hie week's busy sessions. An increase of $04,000,000 in actual net deposits de-posits and a $22,500,000 contraction in excess reserves were the feutures of the weekly bank statement. Bonds, including Liberties, were steady lo firm on enlarged operations. Sales, par value, were $8,300,000. felted States boads old issues) were unaltered unal-tered on call during the week. Adjusting itself further to the extraordinary changes in the international situation the securities se-curities nyirket this week Indulged in another excess of speculative enthusiasm, the daily overturn over-turn of more than one million share being accompanied by many substantial gains. To what extent the public figured In the movement remains a matter of conjecture, but from the activity of commission houses with interior connections it may be assumed that iuveators formed a large proportion. There were also reports of a marked accession of foreign participation, chiefly from Londnti and Holland. t'lnaueinl Interests In the latter country are known to have acquired large holdings of low-priced railroad stocks in the last few months, while London, it is believed, sent over orders for rails of the higher class. Borne of the gains of the week were accompanied accompa-nied by a volume of trading and violent fluctuations fluctu-ations which bordered upon the sensational. Mexican Petroleum, for example, rose from 130 to 194, closing at a net gain of 45 points. Other oils, coppers and the rails recorded extreme advances of 5 to 20 points, but some of these were materially reduced in the constant con-stant profit taking ' and more particularly the violent reaction at the close of today's session. The more distinctive war stocks, notably those fulfilling contracts for munitions and ordnance, also tobaccos, leathers and related specialties, were regular or heavy a t times. United States Steel registered an extreme advance of almost 9 points, forfeiting about half at the end on pressure ascribed to professional trading. |