OCR Text |
Show SPECULATION ON STOCK EXCHANGE . IS ACTIVE DUE TO OPERATIONS OF IMPORTANT IMPORT-ANT FINANCIAL INTERESTS. Heavy Realizing for Profits in the Steel Stocks Is Reported Highest High-est Price Is Obtained. 1 New York. June Speculative , activitv was again strongly in evidence at the 'opening of trading ou the stock exchange today. Opinion in Wall street today was that the present out-burs.tof out-burs.tof speculative enthusiasm is not due so much to buying of the general public, an it is to the operations" of important financial Interests and a group of heavy operators, some of whom were until recently ou the bear Hide or the market. The continued ease of money is of course a largo factor in the present speculative movement, move-ment, as were also the most uniform reports of industrial conditions and a general belief in the excellence of crop prospects. Another important factor Is the Introduction In-troduction ofAmerican securities on the Paris bourse. Tradiug, In the first half hour today, to-day, was probablv well lu excess of 200.000 shares with the Harriman and Hill Issues, Atchison and tho Steel stocks tho. most conspicuous features. Heavy realizing for profits in the steel stocks was reported and this selling was reflected in the presuro upon these particular issues on tho stock exchange. It was rumored that a private settlement or some 70.000 shares of United States Steel common com-mon was effected for a largo short interest in-terest at a price higher than tho stock has yet. sold In the open market.. Trading In the first hour exceeded 500.000 shares. While the market was broad, the great bulk of tho business was in tho Harriman and Hill stocks, Atchison and United States Stool. The banks, and other financial institutions, institu-tions, are lending freely of their reserves, re-serves, which have been strengthened by a heavy Influx of cash from tho West. Cnll money opened at 2 per cent today, and was only in moderate demand. Announcement wag made of another increase in the price of copper. |