The Birmingham age-herald., 1903-08-11
STOCK NARERT
 BREAK CHECKED Flnanciers Hurried to Repair the Damage of Saturday A SCRAMBLE OF SHORTS Market Turned Strong in the Last Hour and the Early Top Level
 Was Generally Exceeded
 Active Rise.
A SCRAMBLE OF SHORTS

New York, August 10.-Measures were adopted in Wall street today similar to those of last Thursday when the demor- allzed break in stocks was checked by the opportune protective measures of large banking interests and market managers for various stocks. There was a similar hurrying back to the financial district by prominent men in the financial world to repair damages by Saturdays violent break in prices. The downward plunge of prices was checked for the time, but there was no such sustained tendency to recover as was the case last Thursday and the sentiment regarding the market continued feverish and unsettled through out the day. The early dealings gave clear indication of the large part played by professional operation on the short side In causing Saturdays slump in the market When it became clear this morn ing that effective measures had been taken to hold prices at the start there was something of a scramble among the shorts to cover their outstanding commitments. which caused a strong rebound in prices. The demand was notably urgent for Cam adian Pacific, and that stock loaned at a premium for use over night, which offered inducements to refrain from fore ing the shorts to cover completely.
 The stock after being rushed up six points consequently eased off. The de- mand from shorts was very conspicuous also in Union Pacific Southern Pacific and Metropolitan Street Railway. which, it wll be remembered, was fiercely raided by the bears on Saturday.
 The fear that the Saturday slump had uncovered weak spots again which would force suspensions, was allayed by the announcement at the end of the first hour of the trading that all stock sheets had passed through the closing hour. The market was not free from points of weakness, however, and liquidation was renewed from time to time in different parts of the list. This was notably the case in Missouri Pacific and it's weakness and that of Atchison- had a sympathetic effect in dragging the whole list back ward to below last nights level. This liquidation had apparently spent its force towards the latter part of the day, and confidence was renewed also by the ab- sence of failures.
 The market turned strong in the last hour and the early top level was gener- ally tACetdeu anu the dGllNe SHOCKS rose from one to two points over Saturdays s closing level Union Pacific was eonspicu- ously strong and advanced 25s over Sat urday to 50. The closing was quiet and steady, with the advances well main taineA The general news was ignored in the days movement, which hinged upon the character of the buying and selling. There was less forced selling on the closing out of collateral and there were indications of investment buying and of buying on a large scale by infu- ential capitalists.
 There was said to be important in- vestment demand for foreign account This was a factor in the further weak ening of the exchange market with re- newed talk of possible gold imports.
 Fears of unfavorable government crop report to be published after the closing was an influence in weakening Missouri Pacific and Atchison. The sue cess which attended the effort to check demoralization following the similar sue cess of last Thursday, had a reassuring effect and there was a more cheerful feeling at the close of the day, without an entire passing of nervousness and ap- prehension