Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-03
HOLIDAYS APPROACH
DOES NOT STAY MART
BuIIish Conditions Continue on
New York Exchange-Ac-
tivity Unabated

New York. July g. TIL" New York
Evening Suns financial rcvi"w tins
afternoon is as follows:
Although the stock exchange and most
oil of the fnanria markets will be
closed for tho next three days. there
was no lct-up in bulliSh activities to-
day. The market wor" aything but II
pre- holiday appearance-that is. 1t wd>
active and strong most of tn" session.
rather than soft. under profit taking
and the evening Of commitments, as had
been ANTICIPATED by many traders.
From the commencement Of trading
until we'll into the afternoon an insis-
tent demand. which, shifted from ono
group to another. caused steadily rising
prices In some instances gains We're
very abruptly made. as in the case Of
keystone Tire and Crucible. the former
starting off some G poir IS higher. while
I Cruciblr went to 10I a.. a few sales.
With call money back to something
like normal figures. the trading Gle
ment was unable to see single OBJ
stacle on the financial horizon which
was likely to interfere with n continue
tiou of bull markets. Crop prospects.
trade reviews. revival of steel and cop
per buying. foreign trade figures and
business activity of all sorts were made
the basis for bullish gossip and predic-
tions on the share list.
And so far as today's prices. were
concerned the constructive attitude was
well taken. for virtually every important
stock on the list advanced. \ large
number of stocks went into new high
Il
which so distinguished themselves were
American Locomotive. Keystone Tire.
Crucible Steel. American Sugar, United
Cigar Stores, Corn Products. Advance
Rumely and Freeport Texas.
+ The strength displayed by standard
steels and rails was very impressive.
The steel shares were the leaders in the
forenoon, net gains in this group
amounting to as much as : points in
the case of Crucibe and Bethlehem
Steel and Republic. Still more notabI"
gains were recorded throughout a long
list of miscellaneous stocks. American
Tobacco at one time was up II points
d Cigar Stores 4 points; Corn Products.
] 35s points: Advance Rumely, points.
5 and FrcepOrt Texas, > points. Trading
was active on the advance. close to a
million shares having been dealt III
within the first three hours.
Traders who had been holding back
buving orders in the belief they couic
got the stocks just as cheap after the
holidoys came into the market late r
the dav, but had to pay we'll for
DELAY. The best prices We're mG ~ n
a.. ,nTl-n of
- progressive strength. Gains Of from
1 TO 10 points were fairly common. Cru
chile Steel sold above United State
Steel for a gain Of more than points
All the tobacco shares showed rcmarka
hIe advances. Call money loaned at
per cent late in the day.
Taken altogether, the market gavt
another remarkable exhibition of grea
strength. Stocks advanced just as cas-
iIy today as they did two months ago
when they were anywhere from 70 t.
| 80 points cheaper. The action of stock
Il in the last two sessions has been Vey
| similar to that witnessed prior to tn
high money rates which brought tn
| advance to a temporary halt fey
weeks ago.
Confident buying continued through
out the day. with apparent Indifferent
to prices paid. In the case of man
properties, the main idea seemed to b
to get all the stock possible at any price
II United States Stte broke through il
:! former high record Of the year of 1l17
in the late afternoon. Buying of III
/ best sort has been noted in this stoc
for some time and the street has bee
confidently predicting that the stOC
would soon establish new price recort
The fereign exchange market WI
weak. with the exception of Scand
navian rates Francs led the declin
falling 10 centimes to ego. Sterlir
D. was off nearly . points, while lii
yielded points.