The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-08
WALL STREET
LIQUIDATION STILLlN FORCE
AT OPENING.
Efforts to Stop the Slump in Stocks Fails
and Favorites Lose Several
Points.

NEW YORK, Augl S.-The opening deal.
ings In stocks showed liquidation still In
force, and there were some sharp declines
and heavy offerings of some of the prom
inent stocks. MO Pacific sold at 1917
and 131 on simultaneous sales of $500
shares compared with 1925 last night,
and sold lower on subsequent transac-
tions. Northern Pacific and Canadian Pa
cide fell 2ia, Colorado and Southern IA,
st. Paul rs. Missouri Pacific ~, Southern
Pacific and Sugar 1Ss and Atchison. Great
Northern preferred. Kansas and Texas.
Wheeling and Lake Erie, U. S. Steel and
Anaconda a point. Third Avenue sold at
a decline OF 5 and Minneapolis, st. Paul
and Sault Sainte Marie preferred advanced
21s. and Delaware and Hudson l.
II a. ma futile effort TO sustain prices
gave way to a downward plunge in which
raiding tactics by the bears were indicated
by the feverish recovery. Union Pacific,
in the course of a rs point drop, broke az
much as II on one sale of 800 shares, and
then rallied "a.
The Hartman and Hill group, Reading
and the Coppers bore the brunt of the at
tack. Smelling fell 4 and the preferred 8,
both touching par. Northern Pacific
dropped 31a, Reading and st. Paul pre-
ferred, Atlantic Coast Line and Pressed
Steel Car preferred 3, Southern Pacific and
Great Northern preferred ~, General
Electric and ~Amalgamated Copper ~, st.
Paul, Atchison, Kansas and Texas and
Mackay Companies preferred 2 and Pacific
Mail, Sugar and Anaconda Ia. Virginia
Iron sold at a decline Of 8 and Third Ave
nnue ~. Covering by shorts caused raj
lies of 1 to 2 points in the most active
stocks toward the moon 9SOuS mo,a.mateo
Copper to l over last night. the drive
against Reading carried that stock to 90.
Union Pacific f1uctuated wildly down TO
129, but was supported effectively ana
prices rallied again. Atlantic Coast Line
fell AZ, Canada Southern 2ss, United Rail-
way and Investment preferred 4 and Sugar
preferred 2. Minneapolis, St. Paul and
Snult Ste. Marie rose IA. Bonds were duh
and easy.
l p. m-The support which the market
was receiving grew notably stronger ana
as a result the morning losses We're largely
made up. A few of the earlier weak teat!-
ures sold a fraction above yesterdays
closing, including St. Paul, Southern Pa
cific and Great Northern preferred. Uni1n
Pacific rallied to within * of yesterdays
close and Smelling sold at 1O3. The trad
ing became dull at the recovery. he
public Steel preferred fell 2 and Pacific
Coast 91s.
interests who bought stocks to support
the market. let them go at intervals dur
ing the afternoon. but there We're no seri-
Gus setbacks and the market rallied easily
when the selling ceased. Missouri Pacific,
Atchison preferred and Western Union rose
!. st. Louis Southwestern preferred de-
clined 2. .
3 p. m.-The market closed strong and
quite active. During the final hour the
covering movement amongst shorts ex-
tended the rally to net advances in Della
ware and Hudson OF 4%, Amalgamated
Copper, 2; Southern Railway preferred,
III; Baltimore and Ohio, 1%; Great North
ern preferred and American Locomotive,
IA, and St. Paul. Northwestern. Pennsyl-
vania, Louisville and Nashville and Sugar,
1. Federal Sugar sold at a decline of 5.
Prices moved with some uncertainty later
in the day but rose again.