The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-09
WALL STREET
OPENING STOCK MARKET
FEvERISH AND IRREGULAR.
Canadian Pacific, American Smelling, st
Paul and Reading Suffer Losses
in the Early Trading.

NEW YORK, Aug. a.-The market
opened with a rather feverish tone and
an Irregular movement Of prices. SHARP
rebounds at some points contrasted with
notable declines in others Pressed Steel
car rose rs, Atlantic Coast Line IA ano
National Lead a point. Union PACING ana
American Smelling opened at fractional
advances and then sold off. Canadian Pa
cific fell ?. Amalgamated Copper. Anaconda
and Sugar l and New York Central and
Pennsylvania large fractions.
IL a. ma moderate selling movement
began shortly after the opening, and al
though there were numerous sharp losses
the selling was not attended with excite
ment. The decline was checked after the
first thirty minutes. when the shorts be-
gan to cove their contracts. Rallies
reached substantial fractions. but were not
rigidly held. persistent Liquidation Of Can
adam Pacific having a bad effect. At the
low point Canadian Pacific was down Az,
American Smelling 2%. st. Paul and Read
ing ?, Northern Pacific ia, New York Cen
trail, Southern Pacific and A~malgamated
Copper 115. Great Northern preferred 1$s
and Union Pacific, Atlantic Coast Line,
Louisville and Nashville. Kansas and
Texas. Pennsylvania, Republic Steel and
Distillers' Securities ! to IL. Minneapolis,
ST. Paul and Sault ste. Marie gained 1s
and Great Northern Ore certificates IL.
Prices receded again to the lowest at II
o'clock.
Noon-The pressure to sell died down
without opening the way to any effective
recovery, and the market fell into dizziness.
Pacific fell an extreme 5, Reading
American Smelling 8, Amalgamated
Copper pa, Union Pacific and Northern Pa
cific 2, Delaware and Hudson IL, atlantic
Coast Line IL and Atchison, the U. S.
Steel stocks, Brooklyn Transit and Pressed
Steel Car l. Prices were at the low level
at noon. Bonds were irregular.
l p. m.-Another attack on the Inter
borough-M Metropolitan securities, in which
they sold at the lowest prices in their
history. wal without much effect on the
rest of the list, though the tone was easier.
U. S. Steel sold a trife lower than in the
morning, but the prices of the other lead
ing stocks were not changed to any de-
cided extent. ACKNOWLEDGEMENTS
broke IA 10 11%, the preferred az to S5la
and the AZ per cent. bonds AZ to Sc. Mis-
souri, Pacific also lost a point, but Steel
Foundries preferred gained III and U. s.
Reduction 3
2 F. M.-Continued selling of the Inter-
borough Metropolitan stocks, which de-
pressed them to II and 1914, respectively,
for the common and preferred, was ig-
nored by the general market, which later
made a sharp rise. Union Pacific and
Southern Pacific recovered to yesterdays
closing and a number Of other stocks
rallied a point or more from the lowest.
United States Reduction preferred rose
"a. ST. Louis Southwestern preferred. IN.
and Pressed Steel Car preferred 1. Third
Avenue declined 8. Brooklyn Transit AMI
United Railway and Investment, TX, and
Chicago and Alton 1%s. United States Ex1
press sold at 100. a decline of II.
A p. m.-The market closed dull and
easy. The market was quiet during the
final hour and held the rally well. United
Railway and Investment fell in all, N
Corn Products preferred ~ The trading
became semi-stagnant in the late deal
ings and prices sagged slightly.