Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-05-17
Three''Maa1r1 K;
NEW YORK STOCK MARKET.
features OF lNe Days Dealings In All
I'll, sading Stocks.

New York. May 16.-Wall Streets i'm
mediate response to the decision of the
supreme court in the STANDARD Oil case
was a strong and insistent demand for
securities such as had not been witnessed
since the dissolution of the Pearson
fafquarhar syndicate last July. The de
cislon was interpreted as a most impor-
tant bullish factor. and stocks We're add
Vanced with rush the important issues
gaining from two to -four points
The great increase in the volume of
business was perhaps S important a
feature of the market as the advance in
prices In the first hour three times as
much business was done as in yesterday S
entire session Trading thereafter was
not on SO large a scale but the market
remained active The days business was
100, 500 shares.
! Union Pacific and General Electric. 4.
| Reading, 3-S southern Pacific. United
States steel Westinghouse Electric and
| Utah Copper, 3, and Atchison, Lehgh
| Valley. New York Central Amalgamated
Copper. American Smelling and a mum
| her of other active stocks two or more.
| on the curb selling at one time five
points above Yesterdays close, but los
| ing more than Is points OH the day.
American Tobacco was similarly upset,
| closing with a 5-point gain after having
advanced 20 points
The demand for stocks was mere than
local, 1t began last night in the many
orders sent from this center To London
and was supplemented at the latter place
| by home and continental purchases. OPP
efations for the European account NAV
safely be put at not less than 5000
shares. The domestic demand. aside from
| local buying. came mainly from such
eenters as Boston Philadelphia Pitts
burg and Chicago. and commission houses
reported considerable amount of ah-
sorpton by investors.
Belief that the uncertainty which had
| restricted business for SO long WAS end
ed at last was perhaps as much of a
market factor the nature OF the HbHlS-
| ion itself The immediate effect Of the
courts ruling was lost sight of in view
| of the broad principle which ii enunciat-
| ed which Wall Street viewed as unmis-
| takabIy favorable to corporations that
| fall into the class of the so-called trust
The effect Of this view upon operations
| in the stock market is seen in the fact
| that many of the largest advances were
made by stocks of corporations when
were at present involved in proceedings
instituted by the government or have
| been in the past on account OF the nature
/ of their activities. Union Pacihe, when
| is involved in the Hartman merger SUIT,
| now pending in the courts. made the
| largest gain of any of the active stocks.
General Electric, which IS chiefly. con
cerned in the suit recently brought by
the government against various electric
companies was one of the strongest
stocks, as was United states Steel al
though a resolution for the appointment
of committee to investigate the steel
! corporation was passed by the lower
| branch of Congress today. Bankers,
brokers and spectators were disposed to
view the result of this and similar cases
| with equanimity.
suited i'll heavier demands for funds. and
the money market was firmer.
Trading in bonds in connection with
| that in stocks and the bond market was
active and strong Total sales, par val
| ne s.. 267. 600 United States bonds were
unchanged on call.