The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-06-03
PRICES SOAR At
MARKETS CLOSE
VIOLENT S. P GAIN
Steel, Preferred and Common,
at New Figures-Whole
List Buoyant.

NEW YORK, June 3.-The opening
dealings In stocks today were very
active and a ~sprinkling OF losses, in
Guiding some important stocks. did not
impair the strong appearance of the
market. The upward rush in United
States Steel involved simultaneous pur-
chases of $500 shares at prices varying
from s7s to s7% compared with SIN
last night. The preferred stock also
rose IN. Southern Pacific was notably
strong. with q rise Of IN. Great North
ern Ore Certificates gained /. and st.
Paul and American Cotton Oil large
fractions.
IL o'clock-The strength in u. S. Steel
and other specialties afforded an
tunity for heavy realizing in the rail-
road stocks, which was awaited OF for a
time. causing Reading to fall a point
below yesterdays closing and Union
Pacific and others a fraction. U. s.
Steel then weakened and lost almost all
of its rise of rs. The consequent alb
sorption Of Southern Pacific ultimately
pulled up the market again, but the
rally was uneven. Southern Pacific
jumped 3A, the preferred 2, Great
Northern Ore certificates 2#, American
Steel Foundries 2, American Agricul-
turai Chemical ~, Union Pacific Ih,
American Cotton Oh and American
Linseed preferred 1%, Western Mary
Ian IN and International Harvester /.
Noon-Furious buying of Southern
Pacific carried that stock up SIS points
to 129 n was a sustaining influence
on the general list. The preferred stock
and American Steel Foundries rose 4
and United States Steel preferred "a
United States Steel touched $751; and
Rock Island preferred and I~nterna-
tional Paper preferred made gains of
Us. Outside of these the gains were
measured at a point, fbut many impor-
tant stocks were in the list, including
the principal trunk line railroads,
Reading, st. Paul, Northwestern, Rock
Island, Wabash preferred, Louisville
and Nashville, Atlantic Coast Line,
Amalgamated Copper. American Lin
seed, American Car preferred, Ameri-
can Mating preferred and others. st.
Louis Southwestern preferred and Uni
ted States Realty declined /, Pacific
Coast IS and Crex Carpet Az. Bonds
were Arm.
1 o'clock-The market centred around
the Hartman and United States Steel
stocks, all of which were higher.
Southern Pacific's rise reached 5%, Uni
ted States Steel preferred 81, Union
Pacific 2% and Reading and Denver
and Rio Grande 2. Lackawanna sold
at an advance of 10. The trading con-
tinued very active and the tons was
strong, but gains were not conspicuous
outside Of the stocks in which the prin.
cipal activity centred. -
2 o'clock-A reaction Of a point In
Southern Pacific sent the general mar
ket downwards, but the advance was
renewed when United States Steel and
Union Pacific began to move upward.
United States Steel touched 6sh and
Union Pacific 1881. or 21s and 3 points,
respectively, above yesterdays closing.
United States Steel preferred got up
81 to 1884 and Minneapolis, st. Paul
and Sault Sainte Marie 3. Western
Union declined IN.
8 o~'clock-The market closed exceed
ingly buoyant and active. Reading was
forced back 1% by heavy realizing and
some other stocks a point. Prices came
up again with the development of some
new points of strength.
Amalgamated Copper was lifted 2ls
American Smelling 2& and Pennsyl-
vania tx. There were gains Of 2A to ;
In Canadian Pacific, American Smelling
preferred. Bethlehem Steel, Interna-
tional Harvester preferred, U. s. Rubber
first preferred and Lake Erie and West
ern preferred. Southern Pacific crossed
40.