Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-07
TRADE IS ANIMATED
IN SECURITY MARKET
News Developments Have Scant
Influence on list-Under-
tone Strong
Stock sales today on the New York
Exchange totaIed $50, 300 shares.

New York, June THE New York
Evening Suns financial review this aft
ernoon is as follows:
Trading was animated in today's
short session of the stock market, and
there was strong undertone to prices,
although surface movements indicated
cross currents and conflicting tendencies
and purposes among the traders them
selves. News developments had but
scant influence on the list one way or
the other.
Hints from at least two widely sep
arated quarters that the government
had miscalCulated its monSy require
ments on account of the war expenses
and would accordingly be obliged to
make public loan offerings to avoid ex-
cessive short term financing gave rise
to no little speculation as to what the
future might hold.
Needless to say, the street, as we'll
as everybody else, had given itself up
to the comfortable thought that war
loans were a thing of the past. But
at the same time that such rumors were
circulating, Washington advices stated
that Congress was eXerting every eff
fort to cut appropriations, more espe-
cially for the army, in order that some
obnoxious taxation could be done away
with.
1t is still bit early to form a clear
idea of these possibilities with respect
to their effect>on the securities market.
Prices today moved backward and for =
ward within rather narrow range,
with some few exceptions, such as the
Marines, which were strong, particu-
larly the common stock, which agair
crossed 80. The preferred wa less
conspicuously strong. but both were OBJ
viously under the influence of the diff
culties which are being met with ap-
parently in getting anything like unan
unity for the sale of the British ton =
mage.
The copper shares were in 'excellcn
form in the first hour. The sugar
were strong and individual issues lik
American Cotton Oil, Corn Product
Refining, National Enameling, Amer
lean Linseed, International Paper ant
so on were buoyant.
The rails were neglected and barrel,
steady. Little encouragement wa
found in that section in the directo
generals s estimate of a sos 900 900 def
cit for April, making the total dcfci
for the four months around $3.50, 900,
900.
Strength, in the morning, was com
municateG to the other shipping shares
in the second hour and notable advance
were made by American international
Atlantic Gulf and United Fruit Their,
was also a brisk demand for local trac
tions, Brooklyn Rapid Transit and In
terborough Consolidated preferred, eacl
gaining more than a point. Traction
bonds we're likewise higher. Specuativ
interests, however, centered very large
ly in the specialties. Liberty Bond
were inclined to heaviness.
Commercial exchange was firm t.
strong. Sterling was quoted at 81 G2
francs and lire checks touched $50 an
, 500, respectively.
The trade journals state that whole
| sale and retail trade and industrial con
1 ditiOns in general have become MOI
uniformly favorable than at any pre-
vious period of the current year. De
mand is increasing and in the proce,
is, incidentally, revealing the extren
conservatism observed in the past in r.
stocking, resulting now in shortages
Q merchandise in many lines, particular
= retail.