Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-05-26
BULLS ARE RAMPANT
IN SECURITY MARKET
Business Opens With Rush and
Gathers Momentum-Steel
at Years High
Stock sales today on the New York
Exchange tOtaIed .9S9. 800 shares.

New York. May 2G.-Thc New York
Evening Suns financial review this
afternoon is as follows:
The new week in the securities mar
ket began with the bulls cmphatically
and rccklcssly rampant in the china shop
of dclicatcly poised prices. There was II
wide opening. with Il rush of accumulated
orders to buy. Gains of anywhere from
| to = points were the rule i'll the first
few minutes and several points Wcr"
added to them before midday. Nearly
half Il million shares changed hands in
the first hour and almost uS macy in
the scrOud.
United States Steel was hustled for
ward to n record level for til" year.
above 100: Cruciblr crossed 50. th"
equipments were in brisk demand and
the roppcrs. tobarro~, rails and special
/ ties did very we'll.
But in the center of the stage were
/ the motors. performing with the most
! tirclcss energy and cclat. General Motor
and Studebakcr were the stars with to
10 points to their credit. ably supported
by Pierce Arrow Chandler. WHY'S
Overland and Maxwell. The marines
were the only part of the show which
failed to exert themselves.
In the rail list. Atchison carried away
the honors selling above 1O2. Missouri.
Kansas and Texas preferred. st. Paul
and Texas and Pacific were conspicuous
also.
The peculiar character Of the present
market renders precedent Of Scant value
and seems to promise moro or less fire
Quent repetition of today'S display of
! strength. The shorts are kept on tentcr
hooks all the time because of the per
sstcnt refusal of those holders with
/ large paper profits to realize. 1t is a
constant thorn in their sides and there
fore when news developments are favor
able as they have been. generally speak
ing. all along. it does not require q
great deal of initiative to stampede then
into covering.
Developments at Paris over the week
end appeared to be more favorable for {
satisfactory peace adjustment than fol
. some weeks or, Indeed. at any timC
, since the Germans reached Versailles
The Red government in Russia has
/ every symptom of impending collapse
+; At home. the gratifying success of tn,
r Victory Loan as shown in the Otficia
figures Of the total subscriptions, 81.
: 249. .90S. 300, or an oversubscription o
. $50. 900, 900, was highly Influential
factor.
The improved tone in French ant
A Italian exchanges helped sentiment ma
t terially and the director generals de
o mand for 81 200. 600. 900 for the rail
q roads to the close of 1919 disclosed, a
n least. that expenditures We're made an
!. contemplated which could not but b
: for the advantage of the roads in th
. long run.
= Trading was moro orderly in the af
!. tprnoon though still in large volume
While there were, here and there. som
recessions from the top, such as Unite
: States Steel, prices as a whole were wei
= sustained and in certain cases higher
IL continued apparent that the short
z were nervous and were eager to cover a
i. almost any cost. The third and fou
D. Liberty Loan issues were strong, an
the others steady to firm. 1t was an
nonced that trading in the new Victor
= notes would begin tomorrow
There were rather easier condition
in money. A considerable inflow {
y funds from interior ccnters, particular
K those sections benefited by swolle
I, grain and other food prices, was nOtet
~ although the movement was regarded q
temporary. Some money for nearb
= dates was to be had at 53I per cen
Call loans renewed at Az per cent.
y French exchange was six centim'
4 higher at $50 francs to the dollar. an
!. lire six points at s.44 lire to the dolla
s Sterling ruled closely around $i.G4, an
's neutral rates were steady to strong.
Corn and oats were under pressure