Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-06
FINANCE AND TRADE
Violent Fluctuations in Wall
Street Today.
MARKET WAS NERVOUS
SHARP BREAKS IN SOME OF THE
sPEcIALTIES.
The Standard Railway Shares Showed
Support and Scored Advances
In Certain Cases.
MARKET WAS NERVOUS

NEW YORK, August 6.-Sentiment In
Wall street was strung to a high tension
this morning. and the opening quotations
were awaited with apprehension. They
showed that protective measures had been
taken to avoid Generalization and many
Of the prominent leading stocks were lifted
q fraction. At other points. however. there
were violent breaks, especially In the spe-
cialties and some of the market leaders
were also under severe pressure. Such
stocks as st. Paul. Southern Pacific. New
York Central, Pennsylvania. Southern
railway, Erie and Illinois Central showed
the effect of supporting orders and rose a
fraction.
Missouri Pacific and United States Steel
opened unchanged but the former relapsed
a point Chicago and Northwestern drop
ped 4, Wheeling and Lake Erie second pre-
ferred 3h, Continental Tobacco preferred 2,
Brooklyn Transit rs. Atchison. Baltimore
and Ohio and Metropolitan Street Railway
over a point. and Consolidated Cas- Man
haitian. General Electric and Sugar about
point. The dealings in the first few min
utes were excited and feyerish. but the
market showed the good effect of supporting
orders.
The market was nervous throughout the
first hour. owing to the occasional outpour-
ing Of special stocks. which carried their
prices through previous low levels for the
year. but the supporting tactics were pur-
Ing was conspicuous in Missouri Pacific
and Baltimore and. Ohio. carrying them Ia
under last night. Atchison lost as much
and Union Pacific declined IN.
Metropolitan street railway lost 3h. Con-
tinental Tobacco preferred 3A. Delaware
and Hudson. Hooking Valley preferred.
Minneapolis. St Paul and Sault Ste. Marie.
Consolidated Gas, Pullman and Republic
Steel preferred 2 to points. and a more
extended list point or over.
With the announcement that all sheets
had passed the stock exchange clearing
house the buying became definitely pre-
dominant selling and the marSat
rose with ANNA ton.
Only stocks that had been notably weak
failed to recover fully. Such leaders as
st. Paul. the trunk lines except Baltimore
and Ohio. Southern Pacific the Wabash
and the Southern group of railroads, U. s.
Steel. Amalgamated. Sugar. General Elec-
trio and a miscellaneous list besides, rose
above last night Wabash preferred, st.
Louis Southwestern preferred and Kansas
and Texas preferred rose point over last
night and Tennessee Coal, ".
There was a break OF 31e in St Louis and
San Francisco second preferred and of 2h
In Minneapolis st. Paul and Sault Ste.
Marie preferred. On the rally the demand
diminished to small proportions. Atchison
then sold of ~ below last night. Reading
1% and the whole list yielded again easily.
Bonds were weak at noon
Selling was resumed on a large SCALE and
about a dozen Of the leading stocks yielded
to a lower level. The decline was short
lived. as heavy buying orders appeared all
through the list and the grangers. Pa
cities. Southwesterns. coalers. the eastern
trunk lines and the specialties rose rapidly.
Recoveries from the lowest ran between
one and two points. and the early losses
we're pretty effectually wiped out.
Reading rallied to 40. United States Steel
preferred to 69M. Union Pacific to 9Is.
Baltimore and Ohio to 70. Missouri Pacific
to 80 and st. Paul to 1873. Continental To-
bacco preferred declined ~ and rallied ,.
The failure of Laidlaw & Carrie. which
was announced on the consolidated ex-
oh tYy,yN " aIfn ,nI,
effect on the stock exchange.
The more stable condition of the market
prompted large buying for both accounts
which turned the carly losses of one to two
points into similar gains. ST Paul and New
York Central were lifted "a above yester-
days close. and Erie Louisville and Nash
vile, Norfolk and Western, Pennsylvania
Southern Pacific, the Wabash stocks
Southern railway stocks, Amalgamated.
United States Steel preferred. Smelling pre-
ferred and Vtrginia-C Carolina Chemical q
point or over. --.-1-t - ...ts e -
North American advanced 3N, Rubber
Goods, g. and Cleveland. G. c. and st.
Louis. .. Toledo, st. Louis and Western de-
clined 2h. and Hooking Valley, ~. Real
izing in st. Paul cost it a point Of its
rally and the market ran of in sympathy
but came up again when Missouri Pacific
rose to 91A. The losses in Northwestern
Continental Tobacco preferred and Atchi-
son were mostly recovered.