Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-11-11
APPROACH OF
HOLIDAY MAKES
MARKET UNEVEN
Proht Taking Checks Upward
Trend, Though Sentiment
Is Bullish.
SPECIALTIES IN CLINE
Special to Indians Daily Times
and Philadelphia Public Ledger.
BY MONITOR.

BY MONITOR.
NEW YORK, Nov. 11.-Proit taking in
anticipation Of today's holiday checked
the upward trend Of the market and gave
It a somewhat irregular appearance. The
undertone, however, was firm rather than
unsettled. and sentiment continued bull
ish. In the face of recessions throughout
a large portion Of the general list, sew
eral specialties climbed steadily upward
and established new high levels. In the
equipment group Baldwin led, both in
respect to strength and activity. Standard
OIL issues were strong, and in some cases
buoyant. In the medium and low priced
oils impressive strength was exhibited
by Texas Pacific Coal and Oil, Texas
Company, MsrIand and Union Oil.
Among the so-cslled standard issues
an irregular tendency developed. The
rails and steels were inclined to be re-
dictionary. Profit taking made its appear
ance in Northern Pacific Pullman Com
pany and Pressed Steel Car.
In the morning surprising buoyancy
was displayed by the copper stocks. Utah
ran up to 81, a new high level. Ana
eonda was strong and several Of the
minor coppers attracted attention by
their frmness and activity.-Copyrigh
Bullish activity. either in the form of
further buying or proft-taking on up
turns was again in evidence Thursday.
The market was quite active IN the 6rst
three hours, and sales up to O'Clock vas
largely In excess of transactions Wednes-
day The coppers showed pronounced
strength in the early trading, and this
group appeared to be the favorite in
many commission houses in the morn
Ing. Scattered proft-taking cut down
Among the copper stock that were most
active were Anaconda and Utah, both OF
which made new high levels for the pres
also was firm on limited transactions. One
of the little known copper stocks which is
beg'H5ing to attract attention Is Seneca
Copper.
OH stocks were again active, with the
feature N this group provided by a fur
Their advance OF So points in Standard
OIL of New Jersey to the new high rec
ord of 1859. This rise was impressive In
view of Wednesdays gain OF hye points;
after selling at 166 reacted on prOht-tak-
Ing.
At the annual meeting of the stockhold-
srs Of the South Porto Rico Sugar Com
pany, the retiring directors were re-elect,
ID and the meeting adjourned until
Nov. % on account Of the representation
not being sufficient to authorize the pro
posed issue Of convertible bonds. ~@At .
Optimism in the broader sense has been
engendered in stock market circles Oy
the feeling that the market VIII not
be subjected to the same heavy seiIlng
pressure that has made its appearance
In December of the last two years with
the object Of establishing losses for ins
come tax purposes While the general
Industrial list is lower than IT was at
the first OF the year, many operators
have profits in stocks purchased at lower
levels and il is believed they VIII BE
more inclined to hold their commitments
and thus avoid showing profits. II this
theory should prove correct IL would
mean a marked absence Of the pressure
that has characterized the stock market
in the last few years. This would be
particularly the case with bonds, which
are much higher than they were at the
beginning Of the year.
Specialties were pushed forward ag-
gressively and some Of them established
new high levels. In fact several groups
furnished features of this character
Among these were Corn Products Ameri-
can Cotton Oil, both common and pre-
ferred; American Linseed, common and
preferred: Texas and Pacific Coal and
on and Marland Oil-COpyright, 1921, by
Public Ledger Company.