Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-05-14
COAL ISSUES STRONG
Buying of Stocks Prominent in
Opening Trading.
MAKES new HIGH RECORD
Canadian Pacific Scores Overnight
Gain Of Point and Half.
OTHER SUBSTANTIAL GAINS
Specialties and Industrials Partici-
pate in General Move
ment Upward.
new HIGH RECORD
OTHER SUBSTANTIAL GAINS

NEW YORK. May 14-Buyink of the
anthracite coal stocks was the prominent
feature at the opening of today's stock
market. Lehigh Valley soon rose IA,
with a substantial fractional gain for
Reading Canadian Pacific made new
high record with an overnight gain of 11s-
American Sugar was tho strongest Of the
industrials. advancing III. United States
Steel and the other metal stocks showed
underlying strength. There was some
weakness in International Harvester, Re-
public Iron and Steel and Rock Island
preferred.
Profit-taking met the rise in the coal
road stocks but neither Lehigh Valley
nor Reading yielded materially, while
many of the other standard shares made
further gains. United States Steel was
the chief feature of this group, advanc-
ing two points on extensive offerings.
Canadian Pacific soon added to its record
price of the opening, and was followed
by a smart rise in Minneapolis. st. Paul
and Sault Saint Marie, one of It's con-
trolled companies.
Sears-Roebuck Rises Over 5 Points.
Sears Roebuck rose more than five
points, attaining its best figure since last
years capital readjustment. Great North
ern Ore certificates, Wheeling and Lake
Erie first preferred Louisville and Nash
willie, National Biscuit and Union Bag and
Paper issues all rose substantially, but
the better known railway issues as a
whole participated only slightly in the
movement.
United States Steel led the market dur
ing the morning session both as regards
strength and activity. The rise partook
largely of drive against the short in
terest. which had grown in the last few
days by reason OF the governments in
quiry against that corporation. The fact
that prices Of many manufactured prod
ucts in steel and iron have recently been
advanced was helpful factor.
Realizing Of Profits
There was further realizing in Lee
high Valley and Reading. with reactions
in American Can common and preferred,
whose speculative connections with the
coal stocks are generally understood.
American Tobacco and International
Harvester also displayed some heaviness
while the lesser known specialties were
prominent. with gains that ranged from
I to more than 2 points. Trading d.
unfinished toward noon, with hesitant
undertone.
The bond market was Irregular, except
for a rise Of almost 4 points in the Du
Point Powder "A bonds.
Steel Makes Good Advance.
Further buying Of United States Steel
sent the price up to 71A during the noon
hour, with some recessions later, while
the more active stocks of the early ses-
sion were subjected to some pressure.
There was a. demand for New York
Central and Union Pacific. which ad-
vanced them a point or more. Missouri
Pacific also developed some strength,
and the undertone grew more irregular.
An abrupt rise of almost five points in
International Harvester gave color to the
old report of probable settlement OF
the suit instituted by the government, but
of this there was no confirmation. An
nouncement Of another advance in the
price of copper metal failed to strengthen
the copper shares to an appreciate ex-
tent Sears-Roebuck added substantially
TO its previous rise. and Rock Island pre-
ferred, National Biscuit and International
Paper common and preferred all went to
better prices than in the early session.