The daily morning journal and courier., 1907-04-16
STOCK MARKET FEATURES
VIOLENT BREAK IN HALF DOZEN
 STOCKS AT OPENING.

STOCKS AT OPENING.
 Large Buyers for Several Days Take
 10000 Union Pacific and 5000 Steel
 COmmOn-Twenty-twO Point Break
 in Standard OiI-Out-Of-TOwn Banks
 Continue to Call Loans.
 There was a violent break in half a dozen stocks right at the opening yes terday, and this depressed the entire list. Efforts appear to have been made to put prices as low as possible, and they had all of the appearance of a concerted attack In addition to this, there were unquestionably good many selling orders in the market, brought about by Saturdays collapse in prices. These came from far and near. Losses of to points were sustained notably in the Hill stocks, Hartman issues and in Smelling. Within half an hour a rally was in progress, and 1t continued off and on until midday. Around noon prices were run up sharply within a few minutes, then they fell back lit- tie and business became dull. The short covering was mostly over for the moment, and little outside business seemed to come in. The improvement in stocks was chiefly based on the easing off of wheat, as a result of bet ter climatic conditions in the south west.
 Morrison Brothers, who have been quite large buyers for several days, bought 10000 Union Pacific and 5000 Steel common. Content and Ecksten & Go. took 15,O0O Shelters, F, w. Savin & Co. bought about 15,000 shares of Union and Southern Pacific, St. Paul and Reading. Watts, the specialist. in Pennsylvania sold 10000, and quar- tette composed of three room traders and one commission house sold 10000 more. Kraus Brothers bought 5000 Reading. Post & Flagg, Wrenn Broth CTS, Tracy & Co, Seligsberg & Co. and c. D. Barney & Go, sold Union Pacific. l J. w. Davis & Co. bought Northern Pacific and H. B. Rollins & Co. and Watson & Go. took Great Northern.
 Marshall, Spader & Go. bought 5000
 Steel Pepper & sternbach bought stocks around the room.
 The overthrow of stocks at the open | ing brought back to mind the condi- tions of March. There was a very poor market in which to liquidate, and shares like Union Pacific and Shelters l had to be sacrificed in order to sell With this liquidation there was a cer- tain amount of short selling to aggra- vate the weakness.
 The 22-point break in Standard Oil early in the day was construed by some as reflecting the market position | of the financiers identified with that company, notwithstanding the recent
 interview with Henry H. Rogers, in which he took an optimistic view of the general business situation. As a matter of fact, the decline In Standard Oil could reasonably be attributed to
 the adverse court decision, and to noth- ling else That matter was amply suf- feient to depress Standard Oil stock, If
 a heavy penalty were meted out on each
 of the numerous counts.
 Of particular stocks little need be said. All declined or rallied in unison The early recovery was led by support | ing orders in the Hartman Issues
 Pennsylvania and Steel. One broker
 had an order to buy 10000 each of Union Pacific, Steel and Pennsylvania
 One of the firmest features throughout
 the day was Consolidated Gas, which
 was several points above Saturday. 1 Out-of-town banks continued to cal
 loans in New York, owing to the un-
 satisfactory rates now prevailing, Bank officers said that this liquidation by 1 Interior lenders was a decided factor
 in last Saturdays $S6,96s,OOO expansion The banks also received some heavy ldeposits from the trust companies
 Nearly all the money loaned in Wal
 street yesterday was at ? per cent. Some rather large lots of the gran gers were sold at declining prices ir
 the last hour. No additional news de. Iveloped to explain the decline, It was probably due in a measure to liquida.
 tion, Just before the close 3,7O0 shares
 of Unien Pacific brought 1S3. Some Support was offered at the close.
 The 5-point rise in Consolidated Ga. was a sporadic movement based or
 nothing in particular. Very little prog.
 ress is being made in the S0-cent gas
 case, and it will be some time before {
 decision is rendered. Banking interest. Imake the very good point that q favor, lable decision would make capital less
 timid about extending itself cominf after a favorable rendering in the Great Northern case and the defeat Q, municipal ownership in Chicago.
 London sold probably 10000 shares fl
 the New York market yesterday, buy ing nothing. The sales were sc alter ling, including most of the active isl ues but particularly the Hartman and c67 per shares. American stocks were