The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-15
WALL STREET
SLUMP IN THE STOCK MAR
KET CONTINUES.
Amalgamated Copper Pounded by the
Bears-Railroads Also Share in Losses
and Slight Recoveries.

NEW YORK, Aug. 1.-THE stock mar
ket broke badly again at the outset today
the representative stocks selling materially
below yesterdays low prices. Amalsa,
mated Copper slumped Al TO 60 ano
Smelling to 30. General losses were g
point or more and ran between 2 and
for the Hartman stocks, Hill stocks
Reading. Canadian Pacific. Baltimore ano
I Ohio, Sugar and Brooklyn Transit. There
was a feverish rally Of 1 to 2 points I'M
medlately.
Il a. m.-Recoveries in the first hour ran
from q In Southern Pacific. 2 In Amalga-
mated Copper to 2A in Smelling. ST. PAU
recovered all its early loss and added a
gain Of 1 point. Amalgamated Copper was
said to be affected by weakness OF the
metal IN London. Foreign houses were
sellers of copper stocks from the opening.
After the carly recovery the market
took another sharp plunge downward put
a rally succeeded Immediately.
Operators on both sides of the marker
took advantage of the low prices TO buy
heavily, and the resultant rally reduceu
the declines to fractions. st. Paul. Union
Pacific and New York Central sold a
fraction above yesterdays closing. Anal
gamated Copper rallied to within = ana
Smelling a point OF where they iett OIL
yesterday, The market then took another
downward surge which carried prices IN
some cases TO within a fraction OF the
lowest. Mackav companies lost So, Con-
solidatod Gas 4 and Third Avenue AZ.
Another rally was in progress at II O'Clock
and most of the leaders were hoverlng
around their best prices of the hour.
Noon.-A belief that the urgent liquida-
ton had been completed aroused more con-
hdence in the market. and there was a
general return to a parity with yesterday
closing prices or above. st. PAU, Union
Pacific, Reading. Northwestern Pennsyi-
vania, Erie first preferred. and U. ;.
Steel preferred scored overnight gains OF i!
to IL, and Illinois Central ga. Isolated
points of weakness showed from time TO
time. resulting in Denver and Rio Grande
dropping 6N with a rally of 3, New Haven
G. L. S. Express 5. Z. S. Rubber first pre-
ferred ~ and Westinghouse Electric A.
Bonds were heavy.
/ D.. m.-Stocks continued to be bought
in moderate amounts, and a large proper
lion of the list ruled materially above yes
terday's closing. Union Pacific was up 2
Republic Steel preferred yielded d
p. m.-Proft taking cost Union Pacific
its advance and forced A~malgamated Cop
per and Smelling 2 points below yester-
closing. Elsewh re the movement
was not very wide and most stocks held
fractionally above last nights close. The
market was improving, but was very dull
at ? o'clock. CRANKY Mining broke 10
points.
3 p. m.-The closing was quiet and
'trong. While the market showed traces
q feverishness at times, the fact that the
rise did not bring cut any large sell
orders encouraged bullish sentiment
md prices were bid up vigorously TO the
highest of the day. Union Pacific and the
sold 31s above yesterdays clos
Third Avenue 4 and ST. Paul, Read
ing, Great Northern preferred. North
Sugar, United States Steel pre-
erred and Anaconda IA to 2ha.