Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-10
High Priced Stocks Broke
Again Today.
FOUND LITTLE SUPPORT
OPENING WAS STRONG, BUT DID
NOT HOLD.
Canadian Pacific Again Showed Wide
Fluctuations-South Prefer
red Was Hammered Badly.

| NEW YORK, August 1O.-There was a
| good deal of suppressed excitement at the
opening of the stock exchange today, and
considerable relief was reported by the
| Spr1nklng of gains shown among the pre-
dominance Of losses. Declines were not ex-
ceptionally violent in any cases. and tho
selling was not on remarkably large
scale. The most notable gain was jump
of 2la in Canadian Pacific and Union Pa
cific rose Is. New York Central, Reading
and Erie rose small fractions.
Among the losses there were drops OF
two points in Norfolk and Western and
Virginia Carolina Chemical. Delaware and
Hudson was off III and Texas and Pacific
and Realty preferred ~. Rock Island
preferred declined a point, and Rock Is
land common and Steel preferred were off
Is. Supporting orders were very evident.
and there were quick recoverfes within the
first few minutes, extending to nearly
point in some leading stocks.
The evidence of support in the market
frightened the bears and they bid up prices
in an effort to cover, causing violent fiuctua-
tons. Canadian Pacific was run up six
points, and other stocks which bore the
brunt of Saturdays attack made violent
recoveries. Metropolitan Street Railway,
Southern Pacific. Union Pacific and Pacific
Mail were lifted nearly two points over
Saturday, and Delaware and Hudson, Read
| ing. Erie. New York Central. st. Paul. Wa
bash preferred. Illinois Central and Man.
haitian l to ~
These gains did not hold. Canadian Pa
cific reached 81 Delaware and Hudson "a
and Metropolitan Street Railway "a Trad
| ing became less active for time on the
reaction, but the tone was feverish. Then
| there was a sudden break OF IA in Sugar.
| Missouri Pacific and Atchison fell back to
about point under Saturday. The tone
then became weak.
| The announcement that all stock sheets
had gone through the clearing house stead
led the market, but there was no renewal
| of strength. Trading was quiet but the I'M
dertone was nervous Brooklyn Union Gas
broke 9h. Minneapolis and St Louis Sh
| Consolidated Gas 3, st. Louis and San
| Francisco second preferred pa, Manhattan
| and St. Paul preferred 2, and Southern
of 3 in Long Island and IA in Twin City
Rapid Transit. Bonds were heavy at
| noon.
| Pressure among the leaders centered upon
Missouri Pacific, which fell points under
Saturday. Atchison. Rock Island prefer
red and Pennsylvania got a point under,
and Manhattan, ~. Other losses were
| Rome Watertown and Ogdensburg. 5Ss;
| AS; New York Air Brake. Al: Consolidated
| Gas, 4: Southern Railway preferred, 3l2.
| and Texas and Pacific Land Trust, B. The
market steadied again and became dull
| There was some further decline, Southern
| Railway preferred recedng Az and Atchi-
| son preferred IL. vigorous rally then set
| in. the buying movement showing consider
| able animation. The Pacifcs. Atchison, st.
| Paul, New York Central Baltimore and
| Ohio, Erie first preferred, Peoples Gas.
| Sugar, Tennessee Coal and Metropolitan
| Street Railway and Consolidated Gas re-
| covered to 2. Northwestern preferred rose
g over Saturday and Minneapolis, st. Paul
| and Sault Ste. Marie 11a. ---'- -~---'
| After some momentary hesitation tho
| buying was resumed with greater ami
nation, carrying prices to the top level Of
] the day. Union Pacific rose Us to TO- and
| gains were established Of to 1A in Atchi-
son, Pennsylvania, Baltimore and Ohio.
| Delaware and Hudson, Northwestern. Erie
| first preferred, Amalgamated, Peoples Gas.
| Brooklyn Transit and others which had not
shared in the early strength. The weak
stocks pretty generally recovered their
| losses. The market quieted and reacted
| slightly, but the closing was steady.