Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-04
VIDE OPENING GAINS
WERE NOT MAINTAINED
steel Common Increased $780,
100000 in Value Over Night.
Buying Orders Heavy.

,.rvv YORK, June 4.-Thc stock mar
=, rssponded vigorously at the openlnr
"a. morning on the sweeping victory o.
Z. United states St-el Corporation ovei
4. coverpment in the Sherman antitrust
"a, There was big demand for stock,
Nm found none offered around pre-
.ionsIv prevailing levels, and brokers hav.
- biying orders to execute were eager
y lake stocks at whatever prices they
se.rs offered, resulting in very excited
tradlng and the most active market In
s,,raI weeks Overnight gains ranged
ss,r, one to four points on the average
AHA IN some Issues the advances were
sven greater.
prices on the opening bulge were not
.,sinlained. however, and before midday
anotatIona were down from the early
stsh They we're generally upheld at
tsvel above yesterdays final, but in
anne few cases they went below. On the
gnllft everything on the list came in for
~ advance International Harvester,
1msrican Can and Corn Products, against
-ehlcb Government antitrust actions are
sanding, rushed up sharply on the belief
,hat the outlook for these companies for
favorable decision is helped materially
A., The victory of the Steel Corporation
Harvester jumped II points, American
Can over and Corn Products nearly 3h
Tbese advances were not maintained
however
Tbs arst transactions in Steel were 2s,-
oO0 shares at from GA to 62, the former
asure being over AZ points above yes
,srdav. The larger part of this gain was
ost before midday. At the high pulse
M "a the shares showed an increased
value of $50, 900, 900 over night.
Around noon proft-talSlng made its APP
pearance and prices sold off. The reaction
was short-lived, however, and in the late
afternoon the upward movement was re-
sumed. with the copper shares as the
feature. This was largely due to higher
prices for the metal, electrolytlc selling
Al 1914 cents and the demand was also
better. Another selling movement oc-
Cured before the close, and the majority
Of stocks went to the low of the day.
the coppers being about the only ones
TO hold up
Missouri Pacific Jagged the whole day
Deposits of the companY's notes for the
extension now total S21, 10000. Attach
ments by holders who have not agreed to
the extension are not expected to Compli-
cate plans for reorganization. 1t is con-
templated in reorganization to consolidate
the Missouri Pacific proper, and the st.
Louis, Iron Mountain and Southern roads
into one company and the probable elm
nation of the Iron Mountain stock virtu-
ally all of which is owned by the Missouri
Pacific Railway.
For the moment the victory of the
eteel Corporation was successful in rele-
eating the acute international situation
to tho background. The Street pointed
out that the vast Importance of the de-
clsion as regards American corporations
was obvious, and while 1t was generally
expected that the Government would take
an appeal, the fact that the Government
was beaten in the first encounter by a
unanimous opinion left a favorable i'm,
preston. The Street looked upon the
decision as big step forward for busi-
ness throughout the country.