Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-21
WILD EXCITEMENT
IN STOCK MARKET.
Transactions Were Enormous,
First Three Hours Aggregat-
ing 100000 Shares.
PROFIT.TAKING EXTENSIVE.
I'M Issues Great Feature, Great
Northern Preferred Advancing
over Ten Points.

New Yoik. Aug. E-The stock market
was wildly excited az the opening today
Transactions were once more in enor-
nous volume The tone at the outset was
weak largely from heavy realizing for
prints 10 a number " issues which recent
ly scored extensive gains. Amalgamated
Copper. Atchison and Pennsylvania fell
from 10 ? points, but corresponding
gains were made boy Great Northern pJe.
feTrcd and Louisville q Nashville. The
only wide opening was iu United States
steel "a block 81 1900 shares coming OUT
at miXImum lWs of e, United States
steel preferred lost a point The market
TUNED strong before tue end n the hdli-
hour When most Of the early losses were
recovered
4 feature Of the fist hour was the
picking up OF many miuur issues
Following the brief period OF compare
tive dizziness and lower prices IN, market
gathered strength in the second hour. The
features then were thu nm issues Great
Northern preferred advancing over 10
points, ST Paul preferred, Colorado Fuel
and Amalgdmttcd Copper. Anaconda, Re
public Iron and Steel and American Loco
motive. Sales Of stocks 90 noon were
llGLOn shares
The sensational feature ~ the noon hour
was the advance in Great Northern pre-
fcrrcd which rose lo 3-il- gain NJ over
10 points from Yesterdays close. The
result in this stock revived the old tim
rumur of the contamination ~ the ore
deal between the llin properties and q.
United States steel corporation but MO
news developed on this point. call money
advanced 90 per cent from ycstcIdays
high rate before O'Clock at which time
Urill gHNHGN q tendency % sac
Bushes, for The first three hours aggrc-
gated if2W0 shares
Extensive pr0ht taking occurred 40 the
opening ~ the stock market today I'm "a
number ~ stocks which were conspicuous
BOZ yesterday advances or these Anal
eamated Copper ftll away q point MLchi-
son ~, dnd Pcunsy lvauia . points There
was d few gains uf similar importance,
Great Northern preferred rising IL and
Louisville Il Nashville O. Business was on
"a very heavy scale and the balance ~
the list showed small fractional changes
either way.
The trend of prices turned sharply up
ward soon after the opening. feature
of the market was the growing demand
for low priced railroad aud industrial
stocks. The Hih group and southern
stocks also were heavily bought Great
Northern preferred going mp iia l.. <
\. "a. Northern Pacific "a and Atlantic
Coast Line o The Hartman stocks were
not SD prominent in the dealings although
al one time Union Pacific made 4 guin ot
p southern Pacific was steadily sold.
The entire market was on the down grade
again at n O'Clock and New York Ceu-
tal southern Pacific ana Sugar were on
point or more
The reaction was not checked until a
number of stocks had touched their low
figures of ne morning. Union Pacific
D. faff
Der Of other stocks from I a. points
below the best. Large buying orders were
distributed later among the leaders ana
there was sensational buying Ot tho metal
stocks The entire market rose very
strongly. hut there were indications Of
heavy proht taking 90 special stocks.
Great Northern preferred extended a.
g. colorado Fuel 3k. Anaconda :. ami
American Express IS.
Bouds we're steady at noon
Both the volume OF business and the
scope Of trading expanded, the buying
taking in a number OF usually inactive
stocks. Representative stocks were also
better maintained. So Paul aud Amalga-
mated Copper going up point, Union Pa
,inc ~ and Locomotive la. a violent
rise IN Great Northern preferred aroused
some misciyings and the market ran Of
I abruptly on selllul for both accounts
Great Northern preferred SCARED 1874 to
I S24ia with the movement unexplained
/ Northern Pacific bounded up points lu
sympathy and 81 Paul preferred also
gained s.
The animation and excitement died out
I Of the market and prices dropped Sup
/ porting orders however were put 0ul
when prices had receded o. about yes.
/ terdays closing and the market sliffeued
/ Missouri Pacific fell on while United
States Realty rose 3. Great Northern pre-.
/ fsrred reacted a.,