OCR Text |
Show LARGE ADVANCES -FEATURE OF MARKET NEW YORK, June 2. Large, ad-vane ad-vane were mad at th opening of the tork market today under the Influence Influ-ence of the most spirited buying movement move-ment for aome time. The first transaction transac-tion In United States Steel waa a block of 7600 aharea at 7919701. as contrasted with Saturday a final figure of 7t. Transactions of several thousand sharee at a time were frequent In the early trading. Union Pacific and Southern Pa-cinc Pa-cinc advanced li. Utah Copper 1 and Reading. Bt. Paul. Northern Paclrlo. Great Northern preferred. New York Central and several Industrial sharee gained large fractions. Canadian Pacific was weak, losing 1 point on the first sale. The over Sunday demand from outside sources Inspired by Saturday'a demonstration demon-stration of strength on the Harrlman decisions, wss filled by the professional contingent and prices receded. News from the crop districts of heavy ralne failed to check the reaction, which wiped out the rise In the favorite stocks and sent many issues below last week'a cloa-Ing. cloa-Ing. Reading. Union Pacltlc. Oreat Northern preferred and Ts'orthweatern fell back a point or more. Underwood Typewriter Type-writer and May department atores lumped 4i and 61 respectively. Movements of stocks were wide during the morning and trade waa active. The Impel us which waa given on Saturday by the Harrlman merger decision resulted ln a heavy buying movement at the opening which wss Influenced by weather reporta of rain over large sections of the I west. After displaying pronounced I strength, however, the market became weak, due to realising by professionals. The sudden mounting up of Norfolk A Western to Hot had only a momentary effect In checking the decline and renewed re-newed selling sent prices to a .till lower level. By noon manV stocks were ruling large fractions below Sajurday'a dosing. Bonds were Irregular. t Some recoveries were made In the early afternoon. Southern Pacific riaing to the beat. Rallies In other stocks were less pronounced and were not fully maintained main-tained persistent aecumulatlon of southern Pacific which touched 1261 compared with 1231 Saturday's rHose. had a steadying effect en the market and prlcea hardened. Union Pacific, however, failed to get back to Its earlier -high point and the general list did little more than make up Its The' market oloeed weak. Speculation became Irregular and the copper, electric and fertiliser stocks were under pressure. Railroad taaues showed some lnrllnstktn tn harden tn sympathy with the bulge In Soul hern Pacific, which waa affected by dividend rumors. In tra. late trading the whple market developed, sagging ten. dt-ncy again and some of the- lowest price were msde. Stock List Oteee. Amshramated Copper. to; American Beet Sugar. 64; American Car and Koun. dry. 67; Amerlacn Cotton Oil. 62; Amerl-. can Locomotive. 42: American Smelting and Refining, 601: American Smelting-and Refining pfd.. I07: American Sugar Re. fining. 129; Anaconda Mining Co., 404; Atrhlaon. 1141: Atlantic Coast Line, ir.t. Paltlmore a Ohio, log; Brooklyn Rapid Transit. ol: Canadian Pacific. 241t; Cheaaneakr A Ohio. 4; Chicago A. Northwestern. North-western. 1471; -Chicago. Milwaukee AVSt. Paul. 1271: Colorado Fuel and Iron. 1IJ Colorado A Southern, 64: leelasrare A Hudson. 171: Denver A Rio Urande. 21: Denver A Rio (imnile nM.. 671: F.tie. ll: Oreat Northern pfd.. Great North ern Ore c'tfa.. ;'!; llllnola tntral. 1411; Int. Met.. 17: Int. Met. rrd.. tut: Loule-vllle Loule-vllle A Narlivlllc. S: Missouri. Kansas A Trine. 171; National Ulecult. 136: National Lead. 51: New York Central. 110: Nor-I Nor-I folk A Weatern. 10!)l; Northern Pacific. 116; Pf nnavlvanla. 1241: People's Oas. 101: Pellman Palace Car. ll : Reading, lsoj; Rock llaud Co.. SH: Rock laland Co. pfd.. 4l; Southern Pacific. l;5i; Southern Railway. 311: Union Pacific. !!l; United Steles Steel. 71: United State Steel pfd.. Ilsi: Wabash. 17: Wabash Wa-bash pfd.. 37; Weatern lton. Standard oil. I2: Lehigh Vnlt-r. 1S0J- |