Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-20
The Visitors Gallery Was Packed
To Its Utmost Capacity
With SightseerS.
PAClFICS AGAIN THE FEATURE.
Trading Was Largely Professional
First Hours sale Of Shares
Made New Record.

New York Aug D.-Further excitement
attended the opening Of the stock market
today. There was an unusually large at
tendance Of members. The visitors gal
lery Of the stock exchange was packed to
It's utmost capacity with sightseers. There
was an accumulation Of over sunday buy
ing orders and a principal Of the early
trading was IN the Hartman stocks which
led last weeks movement. Union Pacific
opened with a block OF l40)0 shares at
from iSii. 10 lAis later selling at Is.
Southern Pacific started of with a block
Of 1900 shares at an advance Of ia
points over Saturday and being new
high record, Amalgamated copper open
cd with a lot u l3,0O shares at an ad.
vance Of ~. other stocks that made sub
stantial gains were Great Northern pre-
ferred with points Northern Pacific 81
American Smelling ~, Anaconda ~
AtchisOn "a, Reading "a. and the Illinois
Central "a. The buying orders were re
ported TO have come from various out OF
town points. notably Boston, Philadelphia,
Pittsburg. Cleveland ana Chicago. Lon
don also was a reported purchaser sales
In the hrst hour were probably IN excess
Of $1,000 shares
The trading was almost entirely profess
slOnal and most Of Il was covering by the
shorts. Profit taking resulted IN num-
Der az recessions before the end Of the
hist hour.
The sales OF shares in the first hour to-
tailed S4.5i0 shares, which was said TO be
a new high record.
Operations today were on a large scale
al the opening but the price movement IN
the Pacihcs was not as spectacular as IN
81 ID. fsss- 100 q Lot ..L mi
cifC brought from lSii 10 lAlz for li,uU
shares against 1874 on Saturday ana
Southern Pacific sold at from slls TO %-i2
compared with UA. The gains IN many
other stocks were much more SUBSTANTIAL
but there were a number OF faNOiltes
which improved only small fraction.
Great Northern preferred bounded up
points Anaconda and Smelling ~, Atch.
ison "a. and Sl0ss-Shcfied Steel "a, and
Illinois Central 2 Amslgamated Copper
sold al from 10y. 60 lllia on transactions
Of 1000 shares compared with l01t last
week
Enormous amounts Of stocks were pre-
scented Tor sale on the opening prices,
and there was general reaction which ran
from ] 10 . points IN the strongest fea-
tutes Both Southern Pacific reacted 10
fractions under Saturdays closing as did
St Paul, Pennsylvania ana some others
Speculation was very feverish, many
stocks making a spasm0dic rally Of
point Or more aud then falling bach
again Union Pacific made an upward
rush again 90 lS. but southern Pacinc
was steadily held and lowered around the
low point Nothern Pacific made be-
lated rise Of 81 At II o'clock the mar
ket was unsettled but ruling generally
above the low prices
Despite the enormous volume " out
side huying orders attracted by the ram
pant bun speculation prices were grad
ually forced downward under realizing by
the professionals. In many instances only
a small fraction remained ~ the earlier
and Union Pacific ga below Saturdays
closing There was a considerable shifs-
INK Of bull operations later from the Har-
rlman and others into Missouri Pacific
and Reading and Atchson The enor-
nous buying Of these stocks had steady
ing effect on the rest n The list. Missouri
Pacific ran up 81. Atchison 81, and Read
ing 5. lackaWanna sold az a decline or
points from It's last sale.
The volume u business continued on an
enormous scale and there were tndca-
lions OF a number Of long dormant bOoms.
The room traders followed the heavy buy
ing closely and there was constant
shifting Of one stock % another as soon
as a profitable turn had been made.
Reading and Atchison were allowed 10
IAN back while Rock Island. Smelling
and St Paul were taken hold OF and
pushed up quietly Tho Hartman stocks
held steady around 81 for Southern Pacific
and lA for Union Pacific Pennsylvania
was driven down IA The rise in Rock
Island reached 81 the preferred T. ST.
Paul SA. ST. Louis and San Francisco
second preferred Z and Smelling
Bonds were neglected az noon.