, 1923-05-10
NEWS AND QUOTATIONS By LEASED WIRE
WEAK SPOTS IN
STOCKS FOUND
Spectators Hammer at Prices
and Closing in New York
Is Irregular.

NEW YORK. May 1o.-Professional
spectators for the decline again sue
ceeded in picking out numerous weak
spots. particularly in the steels and
equipments in today's active stock
market. Operations for the rise were
continued in other quarters. sugars
moving upward in response to higher
commodity prices. Sales approx.
mated 100. 900 shares.
NEW YORK. May 1o.-Prices made
further recovery from recent heavi-
ness at the opening OF today's stock
market. DUPONT led the early i'd.
vance with n gain of 2is points.
Equipments again wero in good dc.
mand. Baldwin gaining a point In
the first few minutes OF trading. Ra.
ports OF a further reduction In the
surplus supply OF copper metals
brought about a better demand for
those shares. The rails continued to
respond to reports u record car load.
ings for this season of the year.
There were a few Isolated heavy spots
but the losses were limited to frac-
lions.
0ASAAA1odi Vi 1Ac bONCA AAilltTl SUIT
against the New York Coffee and
Sugar Exchange was largely re-
sponsible for the strength of the
sugar stocks, Cuba Cane. preferred,
rising 1% and Punta Ay)re and
Manati one each. A good inquiry
developed for automotive shares.
gains of y to nearly 2 points being
recorded by Moon. Maxwell Motors
az. Reynolds Spring. Stewnrt-War.
ncr Speedometer. and Stromherg Car
buretor. DUPONT extended Its gain
to 3 points, American Waterworks.
six per cent preferred advanced . and
Simmons Bed /. Pittsburgh and
West Virginia led the advance in
rails. rising 1 point to 45M. a new
high record for the year. Steel
shares were heavy. Crucible dropping
a point. Bethlehem Ia and u. s.
Steel. common, y. American Loco
motive also yielded slightly. Foreign
exchanges opened firm. Demand ster'
ling advanced y a cent to s4.60S
and French francs rallied slightly &c
$50 cents. German marks easee
slightly to .o026A cept,
The general average of purchases
having owe one third of the
ground lost in the recent reaction
and the short interest having beer
considerably reduced on the rally
bear traders again attacked the lis
around the end of the first hour an
forced n recession of prices in man,
quarters. Bethlehem Steel. whicl
has been associated with rumor o
new financing. dropped more thar
/! 2h points and U. S. Steel. common
! again broke below par. American
locomotive which advanced from
1863 TO 1891 was within 4 of
point OF the years high, broke e
1851 on the announcement of tn
Republication plans. Studebaker
Kelly Springfield. California Petro
leun,, MARYLAND Oil, American a ant
Stewart Warner also registered sharl
declines. Impressive strength wa'
shown, however, by Woolworth. VI
AZ; Atlantic Refining, up az; United
Fruit. up "a and Kinney up 2, The
last named wal at a new high record
Call money opened at Al per cent.
Tho bearish element were unable
to make considerable further i'm
preston on prices before tho effeci
Of concentrated buying Of American
Can. California Petroleum and Pitts
burgh and West Virginia halted th'
decline. California petroleum rose &c
five points above yesterdays closing
the preferre stock three. pittsburgh
and West Virginia "a and American
Can 2 points. Speculative sentiment
was bewildered by the action Of the
market. the ability Of the bears &C
Uncover weak spots, and the indica
lions of strong buying at other points
causing a considerable shifting about
OF speculative commitment
The closing was irregular. Specu
lative sentiment continued unsettled
in the late dealings with the strength
Of a special stocks being counter
balanced by the marked heaviness o.
the steels. equipments, aud a few Of
tho automotive shares. Pittsburgh
and West Virginia crossed nifty fol
a net gain of six points and Wool
worth climbed Sh points.