New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-18
STOCKS KEEP ON RISING
Profit Taking Fails to Prevent
Net Gains Throughout List.
NEARLY MILLION SHARE DAY
Big Jumps in Standard Oil and
American Tobacco steel
Leads in Activity.

The course OF the stock market yester-
dav continued 70 reflect the common opinion
that the decision Of the Supreme Court m
the Standard Oil case had greatly nenen'eu
the business situation. The market was
again strong and active. with net advances
throughout the list. in spite OF heavy pro"'
,okino and on the curb Standard Oil ana
American Tobacco common made large
gains I'm price.
There were further conferences among
;he Standard oil interests. but late III INC
dav II was announced that no statement
regarding the company's Ideas as 10 ,"e
way IN which the Supreme Courts oruer
for dissolution might he carried into erect
uo,,Id hs made before Saturday at the
earliest
Total transactions on the Stock Exchahee
we're s2S. 100 shares. comparing with l'c'l'"'
shares on Tuesday; but the market was
an even broader one than on the preceo-
ing dav. with trading in 176 different Is
sues. against 1865 on Tuesday
The opening was active, with niue
change I'm prices, and for the first few MN
utes the tendency was downward OH
heavy realization selling. As soon as 'hls
selling was ended the market began an up
ward movement. which continued DURING
the greater part Of the session, and when
was materially assisted nv covering by
shorts. who had become convinced that
feeling Of real confidence had been creator
by the decision.
Offices of commission houses were well
filled with customers, welcome ana iohe
hoped-for spectacle. and their orders helped
10 swell the volume OF purchases, and low
ard tho close tho volume Of sales, for proht-
taking WAS resumed on large scale in the
late afternoon, with the result that mos'
Of the issues closed under the highest
although at levels above the preceding
afternoon.
As usual. the largest trading was IN
United States Steel common nearly 2ZOV'
shares, the price advancing 10 Sl2, and inc
| close being at 81. a net gain Of lis points
! heading. which made maximum advance
! q; II. points. closed with a net gain OF =.
/ point and Union Pacific. on sales Of more
/ than 5000 shares. sold up points to ls5''
! and closed at 1875. net advance OF II
/ points. the same gain as that MADE py
/ Southern Pacific. Chicago & Northwestern
| and American Car and Foundry common.
/ Atlantic Coast Line rose { points and
among other net advances were point
| each I'm AmalGamated Copper. Missouri "a
/ cifC and Pennsylvania in Lehigh valley
s. each i'm Northern Pacific, Great North
/ ern and Erie. Ia in American. Smelling
asd Refining and ga in Westinghouse. lr
the bond department the sales aggregated
| nearly s. 100 900 mar value, at rising prices
| the transactions covering an unusually
| large number of issues.
| The feature Of the curb market ~as the
heavy trading and sharp advance in Amer
| lean Tobacco common stock. Sales were
/ Loo shares and the stock, which on Tues
( day had risen 10 points 10 i75 opened a
! point down and then advanced 70 800, which
/ Is only 10 points under its high record
| touched in 1905 The close was at 492. or i
points higher than Tuesday's-an advance
/ OF o. points since the Standard oil decision
| was announced. The low record FOR To
/ bacco was in the panic Of 1907 when Il
! sold at i7na In that year 1t paid % pei
/ cent IN dividends. against 40 per cent ir
! 1910
/ STANDARD oil was less active than To
| bacco. WITH sales of about 40 shares
which, however. constitutes an extraordi
narily heavy days business for that stock
| Opening at ss5. unchanged from Tuesdays
| final price. It rose 70 $50 md closed at $40
! having made recovery 10 within q Of A
| point OF IT'S price on the eve OF the decision
ordering the dissolution Of The Standard oil
/ combination.