| Show OIL ifil BUSINESS SHOWS GAINS DAINS Reactionary Tendencies In Iii Stock Market Still Continuo Continue NEW TOR YORK May ByThe 19 13 By The Associated 1 Press Pres- tendencies continued to predominate predominate predominate nate In today's today stock market with business confined almost entirely entire to professional traders rank Banks called about 1 In loans but plenty of or French fund funds were ere available a call money being avail avail- available available cent nt In able as low as 3 per c the Iho ho The days day's business news new was as Irely constructive In character wc weekly lly steel trade reviews that the tho demand id for th the first half of or May was man manthe the period last month and tl Hi th the Industry In h general was as operating at nearly so 80 per cent of ot capacity t with a moderate reduction in mill opera opera- operations operation tion expected however hoe next United States Stales Steel corn com common cornmon com common mon touched a new low on the current movement at but had rallied nearly a point from the thelow thelow th low by early farly afternoon Further testimony to the tho pro pros pros- pros prosperity petit perit of o the oil Industry was 3 fur tur- fur furbished by Chairman Harry N Sin Sin- Sinclair Sinclair Sin Sinclair clair at the annual meeting of his hi company which reported net earnings of in the first four our months of ot this year as ns com coin compared com compared pared with In the same period a year ago aco ag Total gasoline production in te to first four Cour months was gallons gallon against last list year Oil shares displayed a firm undertone with ran Pan Handle Handl p producers and refiners ers and La Go touching new lush high I els Motors offered much better betler re- re re resistance to selling pressure Hud Hudson son rallying over two points and Mack lack Trucks one Rails nails made a oUght alIght response to u the announce announce- announcement announcement loadings s for the week ment that ca car r week ended May ay S 8 were nearly above e the same ame week last ear Weakness was most apparent In the specialties which had Ye- Ye recorded re recorded corded sensational gains under pool manipulation In the bIg bull movement mo last winter Foundation company broke broko seven se to 85 S and American Cu Foundry 6 to both new lows tor for the year American Tele- Tele Telephone Tele Telephone phone sold oft off over two t points on onUle the Ule announcement of ot a new issue of oC The closing was Irre irregular ular In of ot the valuable Inc log Ing to American Telephone stock stockholders holders these shares later Inter recovered recovered recovered ered their earlier loss los and and a good demand developed eloped for tor various arlous oil tobacco traction and motor moto shares In the late trading Otis Oils Elevator fell back three points poInt to P p new low at and additional reces rece- recessions Stone took place In lu American An Smelting American Sugar Sus-ar and other colher representative Industrials Sale Sales approximated shares |
