Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1911-05-31
'FEVER|SH DAY
ON EXCHANGE
Supreme Courts Antitrust
Decision in Tobacco Case
Plays Havoc.
PRICES FLUC1UATED GREATLY
Wheat Market Was Controlled
by Bulls. Final Day For
May Delivery.

(By Special Leased Wire to New Msxican)
New York, n. Y, May 31.-Th'
American tobacco decision and the re
duction of prices of steel combined to
upset the stock market this afternoon
and prices fluctuated violently. Fol.
lowing the general rise in London, the
market here opened with substantial
gains in almost all of the prominent
stocks, with the exception of United
State steel and amalgamated copper.
BY the time trading was well under
way, however, the market began to
show the effect of heavy selling. The
pressure which was Alrected particu-
larly against United States steel quick
IT, resulted in general set back The
most spectacular losses occurred on
the curb where American tobacco
dropped Is points during the morning,
to 425. The losses were extended dur
ing the second hour Union Pacific
fell IL and Reading 8 1-2 below their
opening prices, and United States steel
dropped to three points below Mon
days closing. Bonds We're easy.
Further Drop in Tobacco.
New York, n. Y, May 3l.-A furth-
er decline in American tobacco to AIS
placed it so points under Mondays
closing and l02 points below it's rec
ord price of last week. The market
closed strong. The short interest GOV.
cred extensively in the closing hour.
Bulls Controlled Wheat Market.
Chicago, ILL.,, May 3l.-Although this
was the final day for the delivery of
wheat on May contracts, and there had
been much talk of corner" the ex-
citement looked for on change" did
not develop during the early part of
the session.
Ae few transactions in May showed
that the bulls had control of the mar.
ket but were apparently not in a mood
to squeeze prices in the sensationa.
fashion that many dealers had been
led to expect.
May touched 104 as compared with
103 on Monday night, but steadied
around 103 "a. July opened at SS SIS
to So 7-SMS9, varying from is lower to
1904 higher sold at SO, varying from
is lower-to Ia higher, sold at SO and
then receded to IS 1-2 tn5-S.
The close was firm for May at a net
gain of / 3d. July finished easy 3-S
up at SO is.
? Corn eased off because of fine
weather and big receipts July opened
unchanged to l-Sm1-4 lower at SO 3-4
to 81 rs ass, touched SO and declined
to SO 5-S.
Corn closed steady SO 1-4M3-S fol-
July, net advance of 3-S.
Buying orders rallied oats from inl.
tial weakness due to fine crop reports.
July started Is to Ia down at So
3-S to 50 3-4 and recovered to 35 3-S.
A liberal run of hogs pulled down pro-
vision prices. First sales were 2 1-2@
5 cents to II IL cents Off with July at
14.70 for pork; S07 IL to $40 for lard
and 7. 80 for ribs.
Attempted Corner Causes Sensation.
Chicago, ILL.,, May 31.-The leaders
OF the present May wheat deal have,
it is said, bought between twelve and
fifteen million bushels of wheat for
May delivery, and it is not believed
this amount can be turned over by to-
night, although during the last few
days heroic efforts have been made to
get the wheat here. Some rather dras
tic investigations may follow the wind
up of the latest sensation of the specu
lative grain trace.