The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-18
WALL STREET
UPWARD TREND AT THE
OPENING.
Anaconda Loses All of Recent Advance
and Western Union Declines
Three Points.

NEW YORK, Oct. 1s.-Prices OF stocks
started upward at a moderate rate in the
opening dealings, the fractional gains eX-
ceediLg a half only In Union Pacific, South
ern Pacific, Reading and Ontario and
Western. Anaconda sold at an advance of
IL and Amalgamated Copper X. Western
Union declined 3 points.
There was considerable activity in the
trading and prices were inclined to yield
after the opening. Anaconda lost all OF
its advance.
Ii a. m.-selling of the coppers devel-
oped a weak tone in the market and there
was a sharp reaction. Railroad stocks,
however, displayed better resistance than
on yesterday and signs of support became
evident after they had fallen back TO the
neighborhood of yesterdays closing. ANAL
gamated Copper dipped to 4s, an overnight
loss of 1as. Lackawanna fell 10, Federai
Mining preferred, 81; American Smeltlng'
8; Great Northern preferred, Ia; Mime
apolis, st. Paul & Sault Ste. Marie and
Iowa Central, 2: Illinois Central, IA; ana
Union Pacific, Missouri Pacific, c., C., Z.
& ST. L., American Sugar, Brooklyn Tran
sit and Tennessee Copper, l. There was an
advance of 2s In Chicago Great western
preferred A, 1M in American Tobacco pre-
ferred, and 1 in Central Railroad OF New
Jersey, u. S. Realty, International Paper
and Detroit United Railway. The wnoie
market turned weak at II o'clock.
IL m.-There was intermittent liquidation
of the copper stocks and an active selling
In Union Pacific, but the rail-
road list generally was less affected. The
decline in American Smelling reached oh,
the preferred /, Amalgamated Copper III,
Union Pacific 2h. Reading 2S. Delaware
and Hudson, Illinois Central, Anaconda,
American Sugar, Railway Steel Spring
preferred and National Lead ?, Republic
Steel preferred ia, Northwestern IA and
Northern Pacific, New York Central, Penn
sylvania, st. Paul, Great Northern Ore
certificates and Twin City Rapid Transit /.
Ice sold at a decline of SIS. The
whole market became weak again at noon.
Bonds were irregular.
l p. m.-Another deluge of long stock
came on the market after midday and
prices dropped precipitately. The semi
Generalization in tn. copper stocks af-
fected to a minor extent the railroad list
and there was a general closing out of
accounts. American Smelting's loss reached
99s, the preferred 3H; National Lead, s.;
Amalgamated Copper, 3%; Union Pacific,
3ss; Reading, 8; American Sugar, 21a:
Great Northern preferred and Canadian
Pacific, 2ss, and Northern Pacific, st. Paul,
Southern Pacific and Anaconda, 2 to "a.
2 p. m.-There were occasional feverish
rallies. bu. prices broke at new points to
lower Levels than before. The low prices
Amalgamated Copper down nearly
5 points, Union Pacific 5ss, Minneapolis,
st. Paul and Saul Ste. Marie 5, Reading
Az, Atlantic Coast Line Az. American
Sugar 4ss, Canadian Pacific 3ss, Twin City
Rapid T, ansit, Southern Pacific, Ameri-
can Locomotive preferred, Consolidated
Gas and Distillers' Securities 8 to 3A.
8 p. m.-The market closed weak and
unsettled. 1t was not until late in the
day that the demand from shorts
became sufficient to cause a comprehensive
and effective rally. Minneapolis, st. Paul
and Sault Ste. Marie had fallen Z, Cleve-
land, C. C. and st. Louis SIS, Sloss-Shef-
field Steel preferred >12, North American
AZ, u. S. Rubber first preferred 4 and st.
Paul, Railway Steel Spring preferred and
Union Bag preferred 8. American Smelt-
ing retrieved 4 on the rebound, National
Lead and Minneapolis, st. Pau and Sault
Ste. Marie 3 and Union Pacific, Reading,
Amalgamated Copper and Sugar 2 TO PA.
Prices yielded again in the late dealings.