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Show I UST CONTINUES UPWARDCOURSE tHlgh Priced Industrial Shares Make Largest Gains of Session N'BW YORK. Dec. 7 Prices on-Itlnucd on-Itlnucd thc-lr mov- to hjflTher proend in the morn pxtcnslvo dealings In today's jlck market. iliRh priced Industrial Fhares mado the largest gains, the rails again lagging behind the general list. Secretary Melton's report was construed in the financial dlstrit as a bullish fator. &cntiment also being Influened by the favorable- domestic trade conditions, as Influenced by increased in-creased car landings and the latest earning reports, and a more hopeful outlook abroad. Sales approximated l.ono.000 shares. A buoyant tone developed in stock prices at the opening, with food, oil, independent steel, merchandising and equipment shares In good demand. Early gains ranged from one to three points. Corn Products and Cocoa t Cola led the advance In food shares while Mexican Petroleum, up three I l points, und Standard ull of Ni w Jer- sey, lip i'Vi points .headed the Indus trial M'Oiip. Vanadium Steel improved improv-ed approximately one and a' quarter ' points and gains of a point or more also were noted in Studchak r. ;. ..-oral ..-oral Klectrle, American .'ar, Scars I Roebuck, Manhattan Shirt, Van Raalte I Silk, American Ship and Commerce, Tobacco Products "A" and UniUil States Alcohol May Department stores was pushed up 3'.-2 points. Rails' lagged behind the rest of the list, hut fractional Improvement was noted In i Reading, ChlcagpiNorthWMtern and New York Central, but Northern Pa- I clfic and St. Louis Southwestern wero I reactionary, uthcr conspicuous weait spots wero California Petroleum and Continental Can. each off more than I I1 pomi, rurciga exenange upcueu strong. Trading expanded as the morning progressed, the rising tendency of prices extending to groupa in which, previously there had been compara- ' tively little activity. Realizing sales j resulted in rather heavy offerings on i aomo of the leaders, notably Pan-American Pan-American and Studebaker, but those I were all absorbed by the i r-sli buying power which came Into the market. The further rise In sterling exchange. more hopeful developments at the Lausanne peace conference, the Increased In-creased output of pig Iron, which was regarded In some quarters its foreshadowing fore-shadowing an expansion In general business, and publication of more tav- j orable earnings reports, practically all by industrial companies, all had a cheerful effect on sentiment, lligh-prlced lligh-prlced dividend paying stocks wen especially strong; but there were also a number of Increases of two to three , points in the less desirable Invi nv nl Issues. Mackay companies was push-ad push-ad by 6 V4, points to a new IhkIi record rec-ord for the year and Mexican Petroleum Petrol-eum climbed six polnw above W .t-nesday .t-nesday night's close, while May Department De-partment stores. Van Raalte Silk, General Gen-eral Electric. Standard Oil of N Jersey and U S. Alcohol, nil their earlier gains. Call money opened open-ed at 6 per cent. The market in the afternoon continued con-tinued to bo stimulated by the favor- I1 able Interpretation placed on tarv Meljon's remarks and most stocks ruled considerably higher than in the morning. Studebaker turn, i f'i m; and there was also h-av l-uyii "i Baldwin, Gtneral Asphalt and ti-Shippings. ti-Shippings. Northern Pa 11 Great Northern pr fern were weak. Among the notable pains Teco'rdcd was May Department Stores, I 1 up 14, to a new high l VCl, Tid Oil 6. SUndard Oil of Now Jersey 4, j American Ice 44 &nd Woolworth, up rhe closing was Irregular. Realizing sales in some Quarters caused material recessions in a number num-ber of the leaders, particularly Studebaker, Stude-baker, in the later afternoon dealings. deal-ings. "Bullish operations, however, were continued In other parts of the list, strength in Com Products audi Coshen Oil being the late feature Kelsey Wheel, People's Q id California Cali-fornia Petroleum wer ' ' Icu-ous Icu-ous weak spots, all yielding 2 u 41 points on the day. |