OCR Text |
Show if Pally Market Report I NEW YORK, Dec. 5 Stocks were j strong, almost to the point of buoy-lOncy buoy-lOncy at tlie opening of today's sersiou on the news thai the department of I justice had decided not to appeal the Southern Pacific oil land cases recent-"ly recent-"ly decided against the government I Southern Pacific, which closed yesterday yester-day at 95V6, opened with a lote of 20,-j000 20,-j000 shares at 104 to 108. followed by-numerous by-numerous lots of 100 to 500 shares at 101 to 109. Subsequent sales were made at 106 to 107. Southern Pacific eon' ertible 5 per cent bonds opened at 107. soon advancing to IO8V61 against yesterday's final price of 100. The general list, especially oils, motors, steels and equipments, rose 1 to 2 points with a general extension of gains within the first half houi. Southern Pacific dominated the mar !ket throughout the morning, although reat ting to 1 M 1 2- Transactions 111 mis I stock were larger than the combined .dealings In several other leaders Associated As-sociated Oil. which is controlled bv 'Southern Pacific, made an extreme ad-r ad-r Vance of 13 point. Other strong rails and oils included transcontiner.tals, (Reading. Texas company and CalUor-i CalUor-i nia Petroleum gains of ?, to points-Irregular points-Irregular strength was also shown by I motors and their subsidiaries are; several sev-eral of the steels and equipments Med I erate unsettlement ensued before noon when pressure against General Motors, j Crucible Steel and Mexican Petroleum land a low record In sterling exchange ! invited profit taking. Call money 'opened at 6 per cent. |