Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-09-17
Business Fairly Active Cd
Wall Street Today.
WESTERN GROUP ROSE
BROOKLYN TRANSIT DROPPED
AND LATER RECOVERED.
Bond Market Was Steady and Some
Holdings Showed Conspicuous
Strength.

NEW YORK. September disappearing
orders were in evidence In certain stocks
at the opening. but at other points there
was some show of weakness, notably in
Brooklyn Rapid Transit and United States
Steel stocks. In no instances. however,
were the price changes of any Importance
outside OF Manhattan. which advanced a
point. Business was fairly active and the
market advanced sharply after the first FIVE
minutes OF trading.
Leading stocks were alternately sd-
vanced and depressed on a sharp fractional
| range and the market did not adopt a def
mite tone until rather favorable reports from
the crop section were received. The west
ern group were bid UP sharply. led by st.
Paul and Missouri Pacific. which gained a
point each. Amalgamated rose point and
a good advance in United States Steel IS
infused firmness to the stocks. Brooklyn
Transit made a sudden drop of Ia. but met
support and made a good recovery. Toledo.
St Louis and Western dropped 3&.
Profit-taking sales were we'll absorbed and
the market reached a substantially higher
level all around. The effective support
corded some Of the specialties which have
recently been under pressure and the en-
couraging tenor Of the crop advices were
the principal factors in the rise. In addition
to the earlier advances mentioned Atchi-
son. Rock Island common and preferred.
Norfolk and Western. Wabash preferred,
New York Central Smelling. Sugar and
Pressed Steel Car also improved from l to
~: Locomotive preferred, 2, and Mime
apolis. ST. Paul and Sault Ste Marie. 3. The
bond market ruled steady at noon and Unit
ed States Steel 6's showed conspicuous
strength.
Large selling orders appeared stimuli
taneously in some Of the transconttnental
stocks and their rapid decline forced the
entire market downward The forenoon ad-
vances were practically all wiped out, and
South Pacific. Union Pacific. Erie and
United States Steel sold below yesterdays
final figures The last-named touched 10.
the lowest price yet recorded. Brooklyn
Transit and Tennessee Coal showed losses
of over a point. and there was a break of 3
each in Chicago and Eastern Illinois cer-
tificates and United States Shipbuilding.
Northwestern preferred advanced 2 points.
and Evansville and Terre Haute about f.
The selling ceased abruptly before o'clock
and the market became very quiet, but
showed little rallying power.
The market ruled dull and sluggish. with
the speculative favorites ruling about on a
parity with yesterdays close.
An outbreak of liquidation in Tennessee
Coal uncovered stop-loss ORDERS causing a
rapid decline Of four points. The slump in
this stock had a depressing effect on kim
to ~ in Republic Steel. Pressed Stel Car
and United States Steel. The last named
established new low point at 1874.
Standard stocks also weakened materially
Reading, B. & o., Northwestern and South
ern Railway losing a point, and the list gen.
orally falling a fraction below last night
Supporting orders came into the market
for United States Steel later. and there was
a rally of a point each in the common and
preferred on enormous purchases. Tennessee
Coal recovered 13s and the general list
about ". The closing was dull and steady
at the rally.