Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1911-05-16
Dealers Act as Though
They Had InkIing of
Outcome.
PRICES ARE STRONGER
Even Standard Shows Gain and
Tobacco Heads List With
10-Point Jump.

New York. May 16.-Trading on
the stockmarket slackened this after
noon, but the level of prices was fully
maintained. A significant feature was
the heavy direct buying of bonds and
high grade stocks. Leading banking
milder in tone than they had expected,
and argued that a new and more
elastic Interpretation had been reach
ed of conditions under which corpora
tons may exist
HEAVIEST SINCE JULY.
The early demand for securities was
more comprehensive than at any time
since last July, sales during the first
hour being over a hundred thousand
shares. BY noon these figures had
swollen to over eight hundred twenty
five thousand.
GREAT CROWD AT OPENING.
New York. May 16.-The crowd OF
traders on the stock exchange at the
opening was the largest in many weeks.
and business contrasted sharply with
the caution and apathy which existed
the Standard Oil decision. The sound
of the opening gong was followed by a
hoarse roar as the brokers gathered
around the principal trading posts.
OIL Loss TEMPORARY.
The market opened strong and prices
rushed upwards, and the market was
very active. Standard OIL opened on
the curbs at 676, a loss of AZ points,
bnt. -6aW-mtnntes later had more than
recovered tint loss, selling at $50.
TOBACCO UP 10 POINTS.
The most sensational gain was Amer
lean Tobacco stock, which opened at
475, gain of 10 points over the clos
ing yesterday.
u. s. Steel opened at II to rs with
maximum gain of rs. Reading and
Union Pacific gained two points; Inter
national Harvester 21s; General Fled
trio and Consolidated Gas IA; Atchi-
son rs; Northern Pacific 1.
WATCHES LONDON.
New York. May 16.-Early this
morning found Wall street waiting
for news of the effect OF the Stan
dard Oil decision on the European
here the London market had settled
down to a firm and active tone, after
it had opened half to a full point
below yesterdays New York closing.
RESULT ANTICIPATED.
London, May 16.-The supreme
court decision in the Standard Oil
case created surprisingly little in
terest or furry in financial circles
here, as the result had been general
ly anticipated. Dealing in stocks foG
some time past have been on the
bear side and in the hands OF con-
tinental and Wall street houses
Brokers, therefore did not remain
in the financial district over night as
in time Of crises. Many brokers.
however, came to the city earlier
than usual, and trading in American
securities began an hour and half
before the stock exchange opened.
PRICES RISE.
Initial prices were from half to
a full point below parity, but buy
ing orders from New York soon
strengthened values, and with the
local traders covering, the market at
II o'clock ruled firm and fairly ac-
tive and from one TO two points
above the lowest and one to one and
One-half over yesterdays New York
closing.
LONDON EXCITED.
London, May 16.-In the after
noon the stock market became excit-
ed on receipt of the strong opening
in New York. Prices Of leading
American shares jumped a point.
with the tone strong. The general
opinion of the afternoon papers is
that the decision Is a Theatrical
but probably a fruitless victory for
the opponents of the money power"