Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-10-18
LIQUIDATION OF
COPPER STOCKS
General List First Resisted In
iluenoe, Gave Way Under Pres
sure Of u. P. & Reading.
MARKET BECAME VERY WEAK.
United Copper Sold In Bic Blocks OF
Many Thousand sharcs-- some
New Low Records.

New york. oct is-The influence OF in-
tormlttcut liquidation OF copper stocks.
which prevailed on the stock exchange TO-
day was resisted by the general list for
time, but was overcome when pres
sure developed against Union Pacific and
Reading A sharp break all around about
noon carried down American Smelling
1a Co GIi. Amalgamated copper 5a, Ma
uonal Lead 81, ana Union Puc.dc as-
one account Of 1SCo shares OF United
copper was sold out ou tho curb dur
ing the early hours boa SIX blocks of 81
thousand shares oi ptclcttuu niuubHt 80
per snare. kumOrs Of the proceedings
ut tine clearing mousse commlttec were a
disturbing f4clOr
The market became extremely weak
just before noon, an in short ume tnc
decline became pIcclpltato under hraNJ
seuul Otuprs. Union racine sod iowa
to ll9ti, American smelling 20 uai4 Amai-
samated copper to 90 ana ST. Paul TO-
lI-is. THESE are au new low records tot
tuo year
Iilces of stocks started upward at "a
moderate rate ln the opening dealings
thc fractional GAINS eNccellus a mar "iis
u tulou facmc. southern racine and
EeauilE. Anaconda sold at au advance
of ia and AmalBamatcd copper "a. Vest
Cm Union deemed = points. luere was
prices We're inclined Co yield after tnc
opening. Anaconda lost all OF lts ad-
vance. selling uf the copper snares ue-
Nrluutd q weak tone iu tue market and
there Was "a sharp reaction, Railroad
stocks. however displayed better resist
auDD than of late and signs ot support
became evident after they had fallen To
tho upiEhburhu0d of yesterdays closing.
Annals mated copper dipped 10 is IAN
overnight loss ut la. Lackawanna fell
Is FEDERAL Mining preferred o Amou-
can Smelling q. Great Nurtcrn preferred
49, and Iowa Central ., Illinois Central lii
and Union Pacific, Missouri Pacific, Clevc-
land a.. s. g. ST. J., American Sugar and
Tennessee copper 4.
Tho whole market turned weak at n
o'clock.
There was Intermittent liquidation ~
the copper stocks and AN active selling
movement iu Union Pacific but the rail-
road list was less affected. The decline
iu American Smelling reached ia The
preferred. Amalgamdted copper "a,
Union Pacific Oh. Illinois Central Ana
couda. American sugar and Lead ..
Northwestern pa and Northern Pacific,
ST.. Paul and Great Northern ore Certih-
Gates !.
Tho whole market became weak again
40 noon.
Bonds were Irregular
Another deluge of long stock came ON
the market after midday and prices drop
ped perceptlhly The scmi-mcmOraliZauo
extent the railroad list and there was
general closing out of accounts. Ameri-
can Smelling loss reached 49, the pre-
ferrcd ga National Lead 81 Amalgamatcd
copper 3H. Union Pacific 3.s, Reading 2,
American Sugar So, Great Northern pre-
ferICd and Canadian Pucihc rs ana
Northern Pacific, 81. Paul aud southern
PACING ia.
Sentiment in corn was bcarish because
OF lower cables and clear, cool weather
throughout the corn belt. December corn
opened changed Go "a shade lower az efs
Gtlc and sold at GHsc.
Another crash in prices carried smelt-
ing down eM. The preferred &4; Union
Pacific 1s, Amalgamatcd Copper 4-s;
Reading, as sugar 4; southern Pacific
81. Atlantic Coast Line ana ST. PAU!
Northern Pacific. Illinois Central aud
Missouri Pacific, % TO pa.
TIE market steadlcd abruptly shofuy
after I O'Clock, when conditions seemed
90 becoming panicky and sentiment was
relieved.
All 1855 D.. m Union Pacific sold at
I1J4. "a loss of 5is points for the day
Recalling lost 3t.