Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-05-12
TRADE IS ANIMATED
IN SECURITY MARKET
Price List Strong Despite Alb,
sence Of Excitement-OiIs
Are Indifferent

New York. May 12.-Thc New York
Evening Suns financial review this
afternoon is aS follows:
Tho oil shares. which of late have
been tn" leaders in the moro Spcctacu-
lar phase Of tho bull movement, were
E"avy and Indifferent today. aud this
CAV" tn" stock market the appearance
"l being less aggrc>Sivcly bullish than
II really was. As n matter of fact
trading was animated and the price list
was strong. despite the absence of OK
"It"m"nt. NOR" than million shares
changing hands in the first three hours
In that interval the StceIs ran up one
I" two points or so. the coppers were
strong and tn" silver stocks were buov-
ant following upon the sensational ad
Vanr" in tn" price Of silver metal hero
and in London. where the equivalent of
MI was quoted. the highest lcvc,
Sir"e the seventies
| United States Smelling and Eodorol
Mining and Smelling attracted most Mt
| t'ntl"n. The rubber and fire sh.ros
W"r" held down by further decreases in
'Ir" prices ordered by United States
! Rubber. Goodrich and other compuuics
bnt. Tor tb" sam" reason. tho motors
with IN" exception of General Motors.
had expansive movements.
Genera Motors wnC ,,,Jo,
h"rauS" of the now financing announced
TINS morning involving an issue of
N1o.Ooo.ooO Il per cont dcbcnturc stock
| Whlrh. 1t is supposed, will carry the
| company along for twelve months at
/ least.
inc feathers were bid up from TO 2
POINTS, IN" marines were strong on
4. tn" possibility of President Franklin
who has sailed from England for New
York. bringing back something Tangible
concerning tho British deal for the
ships. although it has been rcppatcdly
stated in what should be the most well
informed quarters that all idea of an
understanding in tho matter has been
abandoned
Atlantic Gulf did not follow the lead
of the marines. and American Intcrna
tional was apathctir. The fractions
were both strong and active.
spots which attracted good buying
were American LinSped. Cuba Cane
Sugar and United States Industrial AL
cohol Railroad shares were broadly
dealt in, but price changes were not i'm
portant. Completion of the last publi,
war loan offering and assurance of q
gratifying OversubScriptiOn. without tn,
necessity of appealing to the banks. was
perhaps the most telling single factor
in upraising the spirits of Wall street
which. it must be confessed were some
what affected by the setback of Satur.
day.
1t was felt that the country can now
give its attention to peace pursuits, thu
building up of business and the financ.
ing of commercial projects and con
Struction. General Motors fnancin;
was regarded as the symbol of the new
era which is dawning. The street ha
already demonstrated its conviction tha
the Germans will sign after the usua
indulgence in buster.
I Trading sIackened to some extent il
! the late session, but prices held well
save for fractional reCessiOns from tn
! top in Il number of cases. The con
trary movement in the oils continued
Texas Company losing 10 points o
more. Steel ruled close to 1O1. Ney
! strength was displayed by America
: Can, General Cigar. Internationa
Nickel. American Bosch Magnetic an
g.. others. Liberty bonds were firm an
: quiet. About 3 points each were game
by Interborough Rapid Transit 5s an
lnterborough Metropolitan 41as.
, 1t was too early to expect any ma
a terial change in money conditions. Tim
t funds were nominal at the prevailin
:. rate of 5l2 to 5a4 per cent. Call loar
/ renewed at 51a per cent, the loanin
y rate dropping to per cent at midda
!. and later to Az per cent. The sligf
j. increase in loans shown in Saturday
I bank statement was taken to mean thu
}. but small part of the heavy increaS
i. in that account in the previous wee
y was caused by stock exchange loans.