Norwich bulletin., 1911-05-17
FINANCIAL and COMMERCIAL.
STOCKS ADVANCE WITH RUSH.
Standard Oil Decision Proves a Strong
BuIlish Factor.


New York, May 1e---Wan streets i'm
mediate response to the decision of the
supreme court in the Standard Oil case
yas a strong and insistsnt demand for
Securities such as had not been wit
messed since the dissolution of the
Pearson -Farquhar syndicate last July.
The decision was interpreted as a most
important buaish factor. and stocks
were advanced with a rush. the i'm
poptant issues gaining from two to
four points
The great increase in the volume
of business was perhaps as import
ant feature of the market as the
advance in prices In the first hour
three times az Iaueh business was
done as in yesterdays entire session.
Trading thereafter was not on so large
a. scale. but the market remained ac-
tive. The days total was 1909, 500
shares. Among the important gains
were Union Pacific and General EIec-
iris four; Reading Ia southern
house Eleoertic and Utah Copper 3;
and Atchison. Lehigh Valley, New
York Cent&Hl, AmalgamAted Copper,
American Smelling and a number of
other active stocks, two or more
Standard on f1uctuated back and forth
on the curb selling at one time five
points above yesterdays close, but
losing more than fifteen points on the
day. American Tobacco was sim
ilarly upset, closing with a five point
gain after having advanced twenty
points.
The demand for stocks was more
than local. It 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 Operations for the Euro
pean account may safely be put at not
less than $4,000 shares. larger part
of which was later sold here. The
domestic demand. aside from local
buying. came mainly from such cen
tiers as Boston, Philadelphia, Pitts
burg and Chicago, and commission
houses reported q considerable amount
of absorption by investors.
Relief that the uncertainty which
had restricted business for SO long was
ended at last was perhaps as much of
q market factor as the nature Of the
decision itself. The immediate effect
of the courts ruling was lost sight
OF in view Of the broad principle which
it enunciated, which Wall street view
ed as Enthusiastically favorable to cor
porations that fall into the class of
the o-ca1lsd trusts"
The effect of this view upon opera
tions in the stock market is seen in
the fact that many of the largest
advances were made in corporations
which are at present lHVolVed IN pro-
ceedings instituted by the government
or have been in the past, ON account
of the nature of their activities. I'm
ion Pacific. which is involved in the
Hartman merger suit, now pending in
the courts, made the largest gain of
any of the active stocks. General E1ec-
trio, which is chiefly concerned in the
suit recently brought by the govern
ment against various electrical COM
panies, was one of the strongest
stocks, as was United States Steel, al
though a resolution for the appoint
ment of a. committee to investigate the
steel corporation was passed by the
lower branch of congress today. Bank
ers, brokers and spectators were dis
posed to view the result of this and
similar cases with equanimity. AL
though a general improvement in the
economic situation is now hoped fol-
the outcome cannot be foretold at the
present time.
The increase in the activity in stocks
resulted in heavier demands for funds
and the money market was firmer.
/ Trading in bonds increased with
that in stocks and the bond market
was active and strong. Total sales
par value. $5,267, geo.
United States bonds were unchanged
on call.