Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-24
WALL ST. RESUMES
UPWARD MOVEMENT
Orderly and Fairly Steady Ad-
vance During Greater
Part Of Day

/ New York. july 2t.-Tho Now York
/ Evening Suns financial review this
afternoon is aS follows:
The upward movement Of stock prices
was resumed this morning from tho
point at which it left off last night. In
its general characteristics the trading
r"S"mbcd that of tn" two preceding Sos
Si"nS, that is. there was an orderly and
fairly steady advance of prices during
IN" greater part of the day. tho indus
trial Shar"S on an average. getting up
I pretty clos" 10 the top figures reached
prior to the last setback. Railroad
shares played only miner role in the
days activities.
! Their" was nothing in tho way of ad-
verse n"w> To Interfere with tho con
>tructivr attitude held by the rank and
I'll" in the street and tho market moved
along on a Sustained volume of dealings
governed by very much the same con-
SidcratiUnS as ON preceding days. The
tangible "vidcnc" furnished in tho last
three stock exchange sessions that pub
lie buying power had by no means spent
/ itS force, encouraged aggressive pool
operations which were responsible for
number of wild" fluctuations.
d Stromburg Carburctcr. for instance.
sold as high as lO+ reacted to g3 and
then rallied again. The food shares
were all prominent. tn" heavy buying
of United States Food Products carry
/ ing il UP over ! points to a new high
price. Corn Products was equally as
strong, going through its former record
price. while now high figures were
, reached by California Packing and
! Booth Fisheries.
One after another new stocks were
singled ont for an advance. At one
time the motor and accessory shares
were very strong. Marine common was
again actively bought som" q points
above its recent low level. Bosch Mag
rcto at l26 was up & points, and
Chandler. at 25S. was up = points.
Assets Realization was brought to the
fore and pushed mp from rs to above
I. on very heavy trading.
II was the primary strength of the
steel shares, however, which impaired
character to the dealings. United
States steel crossed III at midday, at
covcry Of 6 points from the low point
touched on Monday, when the whole
market was very weak. The high
prices reached in the early afternoon
naturally invited considerable selling
of a profit taking variety. and tn" list
<aggrd off somewhat. but the absorp-
I tive capacity of the market Mt slight
concessions was excellent.
The announcement of the bethlehem
Steel Corporation that tn" extra dis
burscmrnt would be omitted at this
quarter caused Bethlehem Steel Il to
react several points. but caused very
little unspttlrmcnt in other steel
shares. bethlehem Steel directors
stated that the steel business is show
ing satisfactory growth, but that the
high cost of production and the pres
ent level of prices do not leave profits
sufficiently large to Justify extra
dividends.
The latest additions to the stock OK
change list include United Retail Stores
Pacific Gas and Electric and American
Malt and Grain. all of which made their
initial appearance on the tap" today at
rising prices. The oil shares were rcIa
p lively quiet. and Pan American Petrol
cum was lower under profit taking.
The money situation was unchanged
call loans renewing at 6 per cent. For
cign exchange rates were fairly steady
Francs were off about cPntimPs anC
sterling was unchanged.
: The selling which developed in th'
] last hour did not appear important anC
| was only a natural outcome of the
' quick recovery enjoyed by the mar kct
> Final prices were considerably under
; the best figures, but the last did not
! display anything like real weakness
Tobacco products was one of thu
: strongest spots in the late trading, sell
/. ing above 10S1a.
{ The weekly statement of the Bank o'
England showed a proportion of re
: serve to liabilities of 1910 per cent
y against 2O54 per cent last week. Tota
:. reserve decreased 1872 900, bullion de
: creased 1913 900 and government Sc
Z curities increased f., 1872, 900.
: BAR SILVER
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