Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-20
STOCK PRICES RISE
ON PEACE REPORTS
Confidence of Wall Street in
Outcome of International Po-
IiticaI Situation Evidenced


New York. June 20 The New York
Evening Suns financial review this
afternoon is as follows:
Confidence in the final outcome of
the international political situation was
reflected in stock market operations to-
day. Trading commenced with the
speculative fraternity in highly unccr
tain frame Of mind. which, in turn in
duccd Irregular price changes. As the
session progressed. prices slowly
gathered strength. and by early after
noon net advances Of from one to thre"
points were common.
This headway was made on relatively
small turnover of stocks. New com
mitments We're entered into cautiously
and aside from Il few specialties, no
inclination existed to move prices far
in either direction. pending the accep-
tancc or rejection of the peace treaty
by Germany. This question for the
time being became the principal market
, factor. Accordingly. the Street was
/ prey to every report and rumor purp0rt-
, ing to shed light on Germany's next
move
Early in the session uncOnfirmed dis
patches claimed that the Scheidemann
cabinet had fallen. suggesting the tor
nation of new government which
would sign. Unreliable reports were
also circulated that the German gov
ernment had decided to accept the peace
terms. Early strength in the market
conceded with these reports. Consider
able buying developed on the theory that
the formal signing of the traty will be
the signal for new bullish demonstra
ton in stocks, but prices were not fol-
lowed up with any great eagerness.
Leading commission houses were
rather reluctant to adopt positive
position on the market, advising con
S"rratlSm while at the same time they
expressed faith in higher prices some
time in the future. The resignation
OF tn" Italian cabinet attracted unfav
"rable attention to the political stu
alton III that quarter, but was hardly
I" b" regarded as market influence.
The buying of food stocks. which as
sumcd rather large proportions yester =
day. was continued today on the theory
that the conclusion of peace and the
opening of the worlds markets will
o
Germs. Such properties as Corn Prod e
ucts. American Linseed. United States
Food Products and American Cotton
Oil rose from . to points. The Can
stocks We're strong in sympathy.
Texas and Pacific drew considerable
attention TO itself by reason of a
further advance of about 6 points to a
new high figure. generally ascribed TO
pool operations.
The oils did better under the lead of
Mexican and Pan American Petroleum.
Missouri Pacific was strong in con e.
nection with the rise in Texas and
Pacific. but otherwise the railroad de .
partment was devoid of feature
In the last hour of trading, Texas and
Pacific extended its advance to 80 on
the concentrated buying. and was the
strongest feature in the market. Royal
Dutch came forward at the same time
rising to 1.15 for point gain. Ameri
can International sold above 1O7
Trading became more animated as the
session drew to a close, but there was
not much change in the price level
The money market gave no cause fol
further uneasinesS. call loans hOldin,
at the 6 per cent level.
The London stock market was Que
and firm. with trading restricted pend
ing the settlement of the peace ques
ton.
| Trading in the local market wa
also on a reduced scale, although sale
l apprOximated 900 900 shares.
Standard issues held within a rela
lively narrow range. Prott takini
came into the market on bulges ant
there was not sufficient buying incentiv
to move quotations up very far. AS
group. the metal stocks were in favor
but gains here were limited. Unite
States Steel common fuctuated with
a narrow range, but some Of the cop
pers and independent steels were quit
strong an times.
The foreign exchange markets wer
quiet. Francs advanced slightly, Will
sterling and lire eaSed off.