Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-10-26
10 Early Dealings There We're
Enormous Supporting Orders in
Low Class Railroad Stocks
MARKET BUOYAAT FOR A WHILE
Some Buying Raised Prices, Liquida-
ton Caused Them to Fall
Back

New York oct. 6-The feature Of the
Irregular opening In the stock market to-
day was the enormous supporting orders
IN some OF the low class railroad stocks
and the heavy dealings IN the United
states stce lstocks Six thousand shares
Of United states steel preferred sold at
li5 and Is compared with SlA last
night, and thc common stock rose "a ON
the purchase Of 300 shares.
strong buying began In many quarters
following the initial dealings and the
market became buoyant Boz spots. Union
Pacific advanced 20 within a fraction OF
yesterdays top price, touching M All
of the opening strong features extended
their gains considerably and by 1889
o'clock Improvements had htcn eslapilsh-
ed of - 10 Colorado tucL Us N ontario
a. Western In suult Ste. Marie pre-
terred ~, u Erie and Union Pacihc aud
4 90 lls I'm Atchl6on, Northwestern, ~,
Paul. READING Louisville a Nashville,
Kansas a Texas pfd. d. q H., Amalga'
mated Tennessee Coal, sugar CONSOLE
dated Gas, Manhattan and Metropolitan
street Railway, Erie nrst and second pre-
fcrred and Rock Island preferred were
Under carly pressure IN contrast to the
strength of the common stocks, but they
later improved Pressed Steel Car and
General Electric fell a point but quickly
recovered. After 1890 O'Clock the market
began 10 yield and Reading was forced
below last night Union, Pacific South
cm Pacific, Ontario q Western. Erie,
Tennessee Coal Sugar and other active
stocks reacted point and United states
steel pid fel to- 500
THE selling movement reached through
out the hist pretty thoroughly ana wiped
out the gains Chesapeake * Ohio, MeNI-
can Central National Of Mexico pre-
forrod Erie second preferred. and Nash
willie d Chattanooga were forced 1 % IA
under last night before tho force OF me
selling exhausted itself The market
steadied when Missouri Pacific was lifted
d point over last night but broke again
under renewed oltcruLs ON the advance
and went lower than before Southern Pa
ciHc and Metropolitan Street Railway fell
points below last night, United states
steel preferred ~ and 81 Paul PennsyI-
yanla Reading Southern Pacific New
York Central and Tennessee Coal point
of more.
Bonds we're irregular at noon.
COVERING by room shorts on the rise In
Ontario a Western TO iia, rallied the
market large fraction, Fresh liquidation
met the advance and the market fell back
I'm some cases 10 q lower level than be-
fore. notably IN Union Pacific, st. Paul
and United states steel pfd. Union Pa
ciHc got as low as 1903 over night loses
of 10 were scored by Norfolk x West.
crn Northwestern the Colorado South
rrn stocks. Erie second preferred. Brook
iyn Transit Metropolitan Securities. Mau-
haitian and a number Of minor stocks The
market rallied strongly before 1 O'Clock
with rec0vcuCs from the lowest running
nom "a nolnt in Union Pacific. Southern
Pachc. 81 Paul Rock Island Erie. Read
Ipg Louisville a Nashville and Manhat-
tan Tennessee Coal rallied 10 q point
over last night The market Quicted at
the rally.