Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-06-04
WALL STREET BREAKS
AWAY FROM APATHY
Begins Buying in Hope That German
Situation Will Eventually Work
Out AmiCably.
PRICES RECEDE IN LAST HOUR
Upward Movement Is Given Addi-
tional Momentum by Reports That
Steel Corporation Wins Its Suit.
Excited Opening Expected To-Day.
ny nnOADAN NALL.

DY BROADAN WALL.
NEW YORK. June 3.-Wall Street
to-day broke away from the apathy
that has been influencing stock prices
recently and began buying. in the hope
that the German situation would event
ually work out amicably. in the last
hour, when prices rcceded slightly on
proht-making, the upward movement
was given additional momentum by re-
ports from Chicago and Philadelphia
that the Steel Corporation had won the
suit brought against it by the gov
eminent. Buying increased In Steel.
and. n few minutes before tho close
IT touched 59l-2, which was -
points above tho previous final quota
ton.
GUS rise in Steel impaired strength to
the other standard industrials and
railroads. with the result that closing
prices were around the best of the
nearly points in the standard issues
with advances of . TO points IN the
specialties
l; was only the closing of the mar
ket that prevented a further rise. for,
less than half an hour after trading
had ceased. Wall Street received the
positive news, that the government
suit against the Steel Corporation had
been decided in favor OF tho company
An excited opening in Steel is oxneci-
cd tomorrow morning.
The Steel decision is by far. tue most
favorable development stock market
wise in many months. Financiers and
important stock market operators said
st reflected the change in the puhlcs
The favorable Steel decision is ex-
strength IN American Can and corn
companies have made good presenta-
lions OF their contentious so that they
S are expected TO win In the suits
the Corn Products recently declared
that they expected 10 win The suit.
copner shares were prominent in to.
Amaleamated Copper being tho lead
ers. Utah and Inspiration led the por-
phEry Eroun Strength. of the coprers
metal and sale Of the metal in London
to-day above 10 cents pound
Tho buying OF Inspiration was con-
sidered of tho best Kind. and big
things are expected from this COM
pary.
There was good investment buying
OF Union Pacific. st Paul, A,chiscn and
the other first class railroad issues.
Mexican Petroleum and American
Smelling were in strong demand
throurhout. the session owing TO tho
the United States.
General Motors rose 10 points on an
ticipation OF dividend action to he talk
en- by the directors in tho near future
The bond market continues dull
NEW YORK June Sin it's consis,en,
strength and increasing breadth. to-day's
stock market served n striking reminder,
of the daily sessions which accompanied
the memorable advance OF last March and
Eprtl. Trading did not attain the large
proportions NJ that pcriod. but was OF sufn-
Gent extent TO make The movement note.
worthy.
United States Steel led the advance. deal.
ings In that stock acErcEatinE 10000 shares
or Is per cent OF tho whole. Coppers were
ncxt In favor, with average gains Of to 3
points. War specialtics were comparatively
incons7icuous. although advances in that
group were OF a substantial character Cen
eral Motors made tho greatest gain ~ any
specially. advancing loH! points The ad-
vance In ateel 5aI2 is best quotation
since the beginning OF the strain in rcla-
lions between this country and Germany
was made tho occasion OF much gossin
and conjecture. y is known that the cor
rorait"0.S "flfput hfs increased Not unril
the close OF the market Il learned that
the steel Corporation had won tho suit
brought against II by Tho Federal govern.
ment. The further rise in tho copper groip
was tracenhle TO number OF snectfr
causes. Including the greater demand for
the metal AZ high prices.
BONDS were strong with good demand
United States coupon Is declined = poin,
on call