Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-10-27
Acutencss Of AuglO.RusSian Sit.
uatiOn Causes a Slump
In Prices
AMERICANS IN LONDON DOWN.
Market Fcyersh and Actlve--Rally
Used for a Fresh LiQ-
uidatiOn

New York, oct The aouteness OF
tho Auglo-fWssIau crisis was responsible
for slump IN prices at the opening OF
the stock market today all along the line.
Prices OF Americans in London had been
forced down from q largo fraction TO lA
before the opening here, but the break In
the local market exceeded these declines.
LOSES Of point or upwards were uniform
throughout the list Mexican Central, fell
"a, American Smelling @ Atchison and
Colorado Fuel lA and Pressed Steel Cat
81 the last ON the passing OF a dividend
Fret sulcs OF Rock Island were Of 1000
shares and of Union Pacific 5000 shares
ana 900 TO 5000 shares OF other proml-
ncnt stocks followed each other ln long
strings
rnc eject of supporting orders and of
the quick prcth-taking by shorts mad, IT,
svif lclt attfr the ds0rdcrly selling hol
sp,Ht lbs force and there were some con.
siderable rallies The market continued
fc1orlsh and very active The losses ran
tlom to. 2A IN Reading New lQtIk O'n-
uul Louisville a Nashville, NOrtANcst-
eru. Sault ste. Marie. the Smelling stocks,
g. Louis southwestern ptd and Colorado
Foul The rallies ran from TO w I'M
Reading So Louis Southwestern MD, Chit
CagO Great Western, Erie FIRST preferred,
copper Smelling Colorado Fuel Chlca-
20 Terminal preferred, Sault Ste. Marie
preferred Manhattan aud Pressed steel
Car and nearly In Mexican Central. Tho
rally was used for renewed selling and
undor the fresh 0u,puoring Of stocks
Union Pacific ST. Paul ana United states
Steel pfd, broke 2 points or over and
Southern Pacific, Rock Island Erie and
Amalgamatod Copper about IA.
Tho discovery that the rally was used
as basis for flesh liquidation caused
prices TO break with great violence Addi-
tonal gold exports aggravated the weak
ness Union Pacific, 81. Paul New YORK
Central and United States Steel preferred
extended their losses 10 ga Louisville "
Nashville 90. and LaCkawanna D. The
losses Of points or over included South.
orn Pacific Rock Island, Great Northern
preferred Baltimore g. Ohio, Pennsyl-
yana and Sugar When the bears saw a
relaxation In the selling pressure they
bought 70 cover shorts. the resulting raj
lies running TO point or more In Union
Pacific, Southern Pacific, New York Cen
trail and Sugar The market was feyerish
at the rally.
Bonds were weak at noon
Banking houses with continental con-
nectlOns were In frequent communication
with their correspondents. Beyond the
practically unanimous opinion that the
gravity Of the situation had Increased, no
definite news was ohtanable, London sold
heavily IN this market, unloading fully
5000 shares IN the first half hour accord
Ing 10 reports Much " this was doubt
less for the account Of other European
centers such as Berlin Frankfort and
Amsterdam The west and, In fact all
sections OF this country sold the list nc
the outset Commission houses had
Hood OF selling orders and reports have II
that some weakly margined accounts were
sold out without rpevlous warning TO
holders The market bore evidence OF
good support not long after the opening
and made substantial rallies In various
stocks Buying Of a high class during the
decline was reported.