Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-06-03
SOUTHERN PACIFIC
F|:uR|OUSL.Y BOUGHT


New s DIRK, June Furious buyin Of
Southern Pacific railroad stock was y thes
leading feature of a sudden revival Of
Speculation In the stock market today
s1nterest was scongested in 4 few promi-j7E
snent stocks notably the Hartman "a y
gcitic and Gn1te,l States Steel. IA sudden
upward rush Of nenilv 6 points hi South
9ern Pacific had IAN impressive effect on
by amy news, hut rnnors o L an Intended
increase: inSdividsnds ,.nd Of 81 propossi-s3
ton to rctire the preferred stock figured
iii the GOSSIP, induced by the spcc taeular5
movement. The buying w ;,etA'edtt ted
stosiusidc sources and showed no evidence
stteomi,e from a. public, dems!,lsi.
" United states Steel $sto.k-tontinued. It's
Remarkable advance ana touched new
high levels within Il fraction Of 90. frel,-
tons for the tansfer q tins stock
for.its strength. The whole, market was
strong and active but nothing like the
extent Of these lead!n. speculative fav-i
fortess s.
1.-THE opening dealings In stocks to-day
we're very 3cuve and 4 sprlnklinR OF
losses including some important stocks
did not limpuir6 the strong appcntance5 or
the market. The upward rush III. United
States Steel involved simultaneous pul-
Ecliasesi of 600 shares at prices sNarXl,its
ast nEh II sfeek W also s
~. Southern Pacific was 5notably strong
with 4 rise Of H. Great Northern Ore
Z Certificates. gained 4 and st, Paul aud
American Cotton. OH .lniise fractions
Il The strength lin United States steel
and other specialties afforded an oppor-,
stunity for heavy alizinE In the erailroad
causing Reading TO fall a. point below itIW
Yesterdays closing and Union j Pacific
and, others a fraction, United States s
OF its rise OF rs. curious buyils of
Southern Pacific ultimately carried that
stock ,lps55sa points to 100 and WAS y
The preferred stock and I. American Steel
fFcundrics rose and United States steel
preferred 2. United States Steel touched
Gs1sSand Rock Island preferred aud IN 4
of Ia. Outside of these the gains We're
measuredSttsil point hut many 5imnorta an
stocks were In The list inslnd ! !, me
st. Paul, Sorthwestcrn, Rock Stand
Wabash preferred, Louisville Nash 81,
Vile. Atlantic Coast Line, Amaigamaated
Car preferred. American Mailing pre-
Eferred and others. ST Louis-Southwes
ern preferred and United States Realty
declined i, andS Pacific Coast D.
q Bonds were firm.
The malket$centered around the IIairii..5
man and United States Steel stock =. 70 "
8Pacitic's rise reached 5s4, United States
Steel preferred ga. Union Pacific 81 and
Reading and Denver 81 Rio Girandes2
ELackawanna sold at air advance Of lt.
Trading continued Very active and the
tone WIS strong but gains were not con-
spicucus outside OF THE stocks in which
the principal activity ¢ered.
a reaction Of point III Southern Pa
Ecitic sent the general market downWards
but the advance was renewed when Units
cd States Steel touched 69A and Onion
Pacific 1898 2lla5and 2 points rcspeetise, e,
~ above Yesterdays closing. United
States Steel preferred got up 81 to 1851
and MINNEAPOLIS, st. Paul Saulte Ste
Marie g. Western Union declined q
Tho market closed exceedingly buoyanti
and active. Reading was forced back
13 by heavy realizing and some other
stocks a point, Prices came UP again
with, the DEVELOPMENT Of some new
points Of strength. Amalgsmated Cop
per was lifted 2is. American Smelling
2ss and Pennsylvania, There We're
gains OF 22tA to in Southern Pacific.
American Smelling preferred, Bethlehem
Steel /. International Harvester pre-
fcrred, u. s. Rubber first preferred and
Lake Erie and. Western preferred, South
3crn Pacific crossed $50. 81