Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-06-01
STOCKS AND BONDS.
Review of Operations on stock Ex-
change During the Day.

change During the Day.
NEW YORK. May S1.-Decided strength
was shown by the railroad stocks at the
opening of the market today. The metal
shares exhibited marked weakness follow
ing the cut in prices of steel products.
American Tobacco As rose Sh and the pre-
gained 2, Union Pacific Ia, st. Paul. Erie
first preferred and Northern Pacific IA
and Reading l. Amalgamated Copper and
United States Steel lost 1.
Prices broke badly soon after the initial
dealings, the market going off under
deluge Of selling orders, induced by profit
taking sales, fears of further Investigations
of industrial corporations and the uneasi-
ness caused by the violent fluctuations in
American Tobacco issues. Opening ad
Vances were converted IN most instances
into substantial losses Amalgamated Cop
per and westinghouse Electric sold points
under Mondays closing; United States
Steel and Reading and q score or more
of other stocks from l to 215. Large deal
ings in American Tobacco firsts sent them
up from SOS, Mondays close, to 931s, with
a reaction to below 80. The Is broke points
to 1903 Consolidated Tobacco As jumped
points to 80. American Snuff preferred gave
away points and American Tobacco pre-
Traders attached considerable Importance
to the persistent selling of United States
Steel, which touched 1855. The extreme
weakness of this stock, which is now about
points below it's high level of Monday a
week ago, encouraged the bear faction to
put out considerable stock. A further de-
So points under Mondays closing and 102
points below its record price of last week.
Business was very quiet during the early
afternoon and prices only trtfle above
the lowest.
The American Tobacco decision and the
reduction of prices of steel products de-
pressed the stock market this morning and
prices fluctuated violently. Following the
general rise in London the market here
opened with substantial gains in almost all
of the prominent stocks, with the exception
of United States Steel and Amalgamated
Copper. By the time trading was well
under way, however, the market began to
show the effect of heavy selling The pres
sure, which was directed particu arly
against United States Steel, quickly re-
suited in a general setback. The most
spectacular losses occurred on the curb
where American Tobacco dropped rs points
during the morning to 425.
The losses were extended during the sec
ond hour. Union Pacific fell Sh and Read
ing 81 below their opening prices and
United States Steel dropped to 3 points be-
low Mondays closing.
Bonds were easy,
With a recovery in American Tobacco to
4S0 the entire market gathered strength
and there was a sharp rally, reaching to
point in Union Pacific.
Further weakness continued in the after
noon. All the standard stocks were heavy.
IL was reckoned that at AIS the deprecia-
tion in American Tobacco shares showed q
shrinkage of values of 500, 900 000 Up to
noon bond sales totaled $2.750000, largely
tobacco issues and stock sales were then
| 600 shares.
The market closed strong The short
interest covered extensively in the clos
| ing hour and there was also large buying
| for the long account, which advanced the
| from to points, with business on as
large scale as during the early selling
movement.
Number of sales and leading quotations
i