Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-04-11
TEEL LEADS REACTION
ON STOCK EXCHANGE
oiume of Trading in Excess of
ANYTHING Seen Recently, Reach
ing Over Million Shares.
RAIDERS GREATLY PUZZLED
'iierican International Securities
start Uphcaval When Announce
ncht Is Made That Issue Will BE
InNcd SO.
ny unoApAN WALL.

NEW YORK. April lO.-Aftcr sew
al violent and spasnIodic advances
IN. stock market today, in which
hited states Steel played the leading
irt' ,here was Il sharp reaction in the
81 hour thn, cut off mos; Of the early
AIMS. The volume OF trading was In
Scess of anything seen recently.
aching nearly million and ha!t
iarcs. In spite OF the sharp decline,
the midst Of which the market
oscd, the undertone was strong. so
uch short selling was indnlged in
lat tho technical condition OF the mas.
II was restored.
Traders were puzzled a. the reac-
on because nothing justifying it de-
slopcd In the news
Perhaps the true explanation Of tho
action is found In tn. official an
unceihent that American lnterna-
onhi stock is 10 be assessed SO q
edla;ely on mis- announcement tina;
"ck broke about 50 "a share
Steel shares Are Bid Ip.
IL recovered quickly. but the shock
AIRED selling throughout the list.
. '"tvu states Stecl vas bid up Sharply
! tEc hope Of checking tn" decline
y suspicious professionals said II was
j. ~ up to cover selling in other pc
here 1T started. Tie market reduction
as overdue on technical grounds, ana
had all the appearance OF per
I'ctiy healthy one. such as always oc-
IRIS in the beginning OF a great cam
t2n OF optimism.
Early in the session Associated Dry
Gods reacted sharply from IL new high
vel following publication o! the an
uaI report showing nnal surplus
iual to sl.S2 share compared with
% the previous year.
American Ice was marked up more
IAN three, points with a few sales.
Ut reacted with the rest OF the mar
short interests I'm Pittsburgh.
Early In the day. even before United
Gates Steel showed any signs OF
he report from Pittsburgh of AN un-
icidly short interest In the stock in
nat city.
Report that william II Renick is
oct! EXCHANGE is received with great
|ltisfnction by tho financial world.
Notion ri the motor stocks today was
~ line with expectations General
rough negotiations for tho Fora Com
any arc not completed. slut woke
u and moved sharplr into a new nigh
|sVcl as the result OF Increased demand
Or its car. Pierce Arrow was strong,
nd the buying was coupled up WITH
uying OF Waite stock.
Ice Tire Shares Arc Active.
Ice Tire Joined with Kelly spring
ED. which made another new high
ecord. On the curb kcyston" attained
he sion share forccasted for II sew
raj weeks ago. United states Rub-
or and Goodrich were quiet. Cbani :
.r started out with an advance Of
50. points. but lost all but y OF u.
he reaction in Chandler chilled the
trcets enthusiasm for motors.
Cerro De Pasco proved strong
took even during the reaction. hold :
ng practically All Of It's gain.
Oklahoma Producing anu refining
urpriscd tho street. showing great VI
altty.
new YoRK Aprtl in.-Mercant!le Pauor.
&. q 50. Sterling siNtY-Iay bills t..!. Com-
lcrcI&l ,ni, day blIls en- banks. .teci+ +:
ommerci. aixty-dsS hills. $50. dcmanf.
ti.si cables. tthSi. cali rnonc. strong .
ullng IAtc. I. Bank acccatanccs. ~.