OCR Text |
Show STOCKS FIRM IN DULLMARKET Out of Town Advices to N. Y. Exchange Regarded as Unfavorable NEW YORK, May 14. Stocks were fairly well supported in today's very dull market- although money rates stiffened and out of town advices bearing upon general conditions were again regarded as unfavorable. Sales approximated 550.000 shares. The- stock market -was active and firm at tho outset of today's session, although overnight news bearing upon industrial and financial conditions was again unfavorable interpreted. Shippings, Ship-pings, equipments, steel and oils were higher by substantial fractions to one: and one-half points under lead of J Atlantic-Gulf. Baldwin. Crucible, Van- j adlum and Heploglc. also Mexican and Pan-American petroleums. There was little demand for rails and food shares! were diposed to react moderately wiih specialties In the leather, textile and tobacco groups. Dealings wero unusually light during dur-ing tho morning on today's stock market mar-ket but most gains wero retained and; in' several instances they were mater-1 lally extended. Bethlehem Steel was regarded as vulnerable, however, be-j cause or its' new financing aixd lost 11-2 poims, but kindred issues de-j noted further support. Oils and motors mo-tors also strengthened appreciably and standard as well as minor rails rose 1 to 11-2 points. Call money was liberally supplied at per cent but was speedily absorbed in anticipation of .higher rates over the wek-end. j The strength of German remittances featured tho foreign exchange market, niarke rising to 2.10. their highest quotations. Liquidation of Liberty bonds and Victory notes continued at now low records. In the final hour when call loans rose to the week's highest level of 12! per cent, prices reacted slightly in the industrial and special Issues. Tho closing was steady. I |