Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-04-24
MARKET CLOSES
STRONG; PRICES
MOVE UPWARD
Large Demand for Reading, Uni
ted States Steel and Anal
gamated Copper.

NEW YORK, April 24.-The stock
market was active and firm at the
opening today. U. S. Steel was the
most active issue, but although 10000
shares were sold in the frst few min
utes, he price receded only Il from
Saturdays closing. Most of the other
stocks advanced small fractions with
the exception Of Erie and Southern
Pacific, which receded slightly.
II a. m.-Heavy offerings Of L. s.
Steel and distrust over trade conditions
sent il down a point to 72% and weak
ened the whole list sharply. Union
Pacific, st. Paul. Reading. Pennsyi-
vania and American Smelling receded
a point from their best prices. ana
Chesapeake and Ohio, American Co.-on
Oil, Virginia-C Carolina Chemical add
several other specialties sold / TO liz
below last weeks closing. Support ,g
orders and covering by shorts caused
a good fractional rally, but the market
became stupid at the recoveries.
Noon.-Discouragement over the in
dustrial outlook, especially In the iron
and steel trades. seemed to be chiefly
responsible for the selling of stocks
this morning which weakened the mar
. aithAoa6h IL WIS LAC oQpfCtlG
Courts decision day, less apprehension
than usual was shown as to possibility
of decisions in the antitrust cases,
trading being considerably more active
than on recent Monday mornings.
Liquidation of a large bull pool was
said to be In progress and the weak
tone of the market was attributed part
~ to this cause. Following the rally
Inf 4h1 a.1% 1919 4Io.- IA
cline, which was due to heavy selling
of Reading, which fell IL to 14sA. its
lowest level of the year. Lehigh VAL
ley and Northern Pacific also gave way
Ia, and there were large losses in an
extended list of less active stocks. At
midday the market was steady. at a
slight recovery. Bonds were irregular,
with New York City new Ans touching
another high record at 1929.
1 p. m.-When the recovery had
reached a point in Reading and a
considerable fraction in other stocks
the downward movement was resumed.
Heavy selling OF United States Steel
was a feature, one block of 1000 shares
changing hands at 70. 1t afterwards
sold at 72A. n Union Pacific, Read
ing n Amalgamated Copper also
returned to their low prices of the
forenoon. The announcement from
Washington that the Supreme Court
would not render any of the antitrust
decisions today created a feeling of
disappointment. and there was some
selling of stocks. The market hard
ened again before 1 O'Clock, but be-
came very quiet on the rise. Republic
Steel preferred broke 4Ss.
2 p. m.-Later in the day the market
was galvanized into action again by a
bullish demonstration, which sent
prices up rapidly to the best figures of
the session. Reading and Union Pacific
were pushed a point above Saturdays
closing n many other stocks a large
fraction. Speculation quieted down
again very suddenly and there was a
fractional reaction. The entire move
ment seemed to be a concerted demon
stration against the short interest,
which is supposed to have been in
creased heavily recently by the re-
puted unfavorable character of the
steel industry.
3 p. m.-The market closed strong
and active. Prices moved up strongly
in the late trading, with an especially
large demand for Amalgamated Cop
per. Union Pacific, Reading and Z. S.
Steel, which had been the early weak
features. The general level was pushed
we'll above last weeks close.