The Birmingham age-herald., 1912-06-07
UPWARD MOVEMENT
 IN STOCK CONTINUES
Dealings in Early Part of the Session Large and
 Diversified

New York, June 6.-The upward move ment in stocks was continued today, mak- ing the third consecutive session of high
 CT prices. Dealings in the early part of the session were uncommonly large and diversified, although much of the ac- tivity was in the industrial division, to
 the comparatively neglect of the railway
 issues. Another advance in the price of copper here and abroad served to stimu-
 | late the metal stocks, Amalgamated ris- ing to Ss. it's highest prices in over two years, with a general hardening of allied shares. United States Steel was pushed forward on extensive operations to it's best price over a fortnight and American Smelling seemingly was in good demand. The early advance ran to a point or bet ter in Reading, Lehigh Valley, Louisville and Nashville, Erie second preferred and
 Denver and Rio Grande preferred among the transportation stocks, while a score of industrials with smattering of utili- ties gained from to points. In one in- stance, that of American Snuff, an ad- vance of more than 10 points was record ed before midday
 Much of the early activity died down in the afternoon with some Irregularities of prices, few of the more prominent is sues declining to a fraction under yes terday's close.
 From this level fresh buying started another advance, the Copper shares at taining their best quotations, with isolated movements elsewhere, as for instance. ir Pennsylvania, which announced some new financing by the sale of $6000.OO0 of per cent equipment certificates, running from one to ten years. Norfolk and Western which is under Pennsylvania control also became moderately active at a sub stantial advance, presumably in response to it's excellent April ess'nings. In the
 final hour much of the early animation was resumed with higher prices al around, the leaders being such old time favorites as Union Pacific and Steel. The closing was noteable for another spurt in the metal stocks and more mis- celaneous issues, while the coalers re- fieeted sub-surface selling.
 ACrop news was plentiful and mostly fa- vorable. The experts of the St. Paul sub- mit1ed reports which indicated general betterment of that system, while rains in Kansas and Nebraska were highly benc- ficial to crops in those states. Only lr southern Illinois was the outlook distinct ly adverse.
 Beginning of the federal inquiry into the so-called ''money trust" was watched with some interest and the announcement l of the investigators that the proceedings are to be limited in scope for the present so as not to add to the excitement of the political campaign, was regarded witt favor. The offerings of S26, 900 New XAr Cf1f ll. E<.. made at Albany today. Up to the close of the market bids were still being ra ceived. indicating that the entire lot would be subscribed for, but the average price was hardly calculated to inspire : confidence in investment circles.
 The feature of the London market
 | where money was in fair supply and dis counts steady, was the big rise in cop.
 pers. The metal -wss-quoted at an ad
 vance equivalent to over $50 per ton from the previous days close. The Bank ot | England showed a gain of $6,O00, 900 in gold
 and like gain in public deposits and
 note reserves. Proportionate reserve lia- bilities rose from 4676 to 4S.44 per cent
 | The Bank of France decreased it's dis counts by over S55,0O0000, its general de-
 posits by s33,00o00O, and gained about
 $2. 100000 gold.
 Bonds as a whole were firm, except for
 . weakness in Denver and Rio Grande 4s
 China copper 6s rose points Total ] sales. par value, aggregated s2,13,O00.
 United States As registered were IA pei
 cent higher on call.