Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-19
Break in Union Pacific Feature
I. of Early Dealings.
SALE OF $4,000 SHARES
Discussion of Coming Inquiry Into
Roads Affairs.
WEAKNESS IN COPPER STOCKS
Speculative Sentiment Markedly De
pressed by Renewal Of Liquida-
tion--Heaviness in London
Transactions.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February ia perpen-
dicular break of several points in Union
Pacific stock was the chief feature of the
mornings dealings and the one which prac-
tically gave the step to the trading else
where in the stock market. The selling of
this security was regarded as extremely
impressive by the professional element. Sell
ing orders to the extent of 5000 shares and
10. 900 shares appeared simultaneously in
this stock and one single firm was credited
with the sale of upward of $4,000 shares.
While in connection with the break of
Union Pacific there was some discussion OF
the approa investigation of the COM
pany's affairs by the interstate commerce
commission. Wall street was disposed to
look for other explanations of the urgent
liquidation in the stock. IL could not be said
with truth that any better explanations
We're forthcoming.
Really definite veriication of yesterdays
reports with regard to the new borrowing
by the Pennsylvania railroad was not OBJ
tainable during the greater part of the
business session. and il was suggested In
well-informed quarters that when official
announcement is made of certain financial
transactions now under way the whole
matter will be made to stand in very
Ol1rerent lRnt 1rOus S.ldt liIulcdteu III tillS
mornings publications
Tidewater Note Sale.
The definite announcement of the sale of
Sl0.OoOOCO in per cent notes by the new
Tidewater Railway Company was generally
taken being of limited interest. except
In its relation TO money market affairs.
1t found immediate reflection in the latter
direction. however. the rates for practically
oil - dot on
Ing up smartly. because of differences
drawn from the conditions under which the
company Is supposed to have obtained it's
money. There was otherwise very little
news of general or special Importance.
The London stock market was heavy.
being depressed by selling for continental
account. but on the rapid decline In the
local market during the morning foreign
houses were buyers upon limited scale.
Other severe declines in the railway list
in addition to that in Union Pacific were
noted in New York Central. Pennsylvania.
st. Paul. Canadian Pacific, Great Northern
preferred and Reading. The course OF
these stocks was sufficient to unsettle the
remainder of the market and the industrial
and miscellaneous issues, together with the
traction shares, moved downward along
with the railway list.
Copper Weak and Active.
The copper stocks were notably weak and
active. but equally extensive losses were
scored in many other issues in this same
department. There was very large in
crease in the volume of business during the
morning session. but some abatement in
activity after midday.
Speculative sentiment was profoundly de-
pressed by the plain renewal OF liquida-
tion, particularly as the selling of this de-
scription was upon scale an, of a char
acter which. 1t had been hoped, had been
concluded.