Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-03-18
STOCK MARKET
WAS EXALTED.
Caused by Break of Disturbing
Proportion Resulting From Out
pouring OF Stocks TO Realize.
AGREED RECOVERY TOO RAPID
List Sold Down, Recovered and Eluc-
tuatcd Gonsdera bly---Bnslness Light
Americans Weak ln London.

New York, March ls--Excitemcut was
revived In the stock market today by
break OF disturbing proportions In the
opening dealings, The outpOnrtng OF
stocks WIS attributed mostly to rush
TO realize at the bnryant recovery which
had been achieved on Friday and satur-
day from the extreme depression OF
Thursday. Speculative sentiment was
agreed that the recovery had been too VIC
lent and too rapid to be healthy, The
Wide declines In London before the mar
ket opened here shook the nerves Of many
holders who had fairly weathered the
storm OF last week Large reductions OF
the short accounts resulting from the rush
10 cover on Saturday also deprived the
market of an element OF support and
there was reselling OF stocks bought at
the decline merely for the purpose OF sup
porting the market
In banking quarters the rapid rocoveries
OF prices saturday were depreelatcd and
there were intlmatiOns that reptessive
measures might he used to- PUNK Other
than grauual and orderly recovery.
Opening prices of stocks showed bad
breaks from the buoyant recovery ut
Saturday Northern Pacific ana Anacon-
da fell 51a. Canadian Pacific 3, Union Pa
cltic and Reading "a. Amaigamatod Cop
-
Pennsylvania, l.. >, Steel 10 1As.
The market rallied from ! TO IA gem
orally, with Northern Pacific recovering
5sl,
The lisS was sold again and some of the
faYorites yielded to the initial figures or
below. Another rally brought prices back
to above where they were on the FIRST
rally,
The recovery proceeded to where ear.
lieT lOsses were reduced to fractions am
gains We're established In Illinois Central
OF ]. when prices again ran OF Union
Pacific and st. Paul receding 40 the low
est The market steadied again.
Bonds We're irregular.
Fluctuations narrowed greatly after IL
o'clock but the tone was somewhat firm
cr. Business was very small. Smelling
preferred gave way 81 and the rest OF
the Hist was easier In tone at l O'Clock
Moderate selling orders were distributed
around the room and the market saggod
further st. Paul. Union Pacific Read
ing, u $. Steel and Copper fell 10 frac.
tionally below the previous low level
southern Pacific ruled about on parity
with the opening price
LONDON MARKET,
London, March S.--American securities
opened weak today. On "a light volume
OF prices. during the first hour declined
L to 2 points below Saturdays New Ycrh
closing. Union Pacific led the downward
movement.
There was a recovery in the first hour
20 about parity the market showing ac
tlyiiy. AT noon realization caused a set
back of a point In u, S. Steel Union
Pacific and southern Pacific
further selling weakened prices, but
a ieaetlon On New. York advices came
The market closed weak with no rally
OF consequences except Union Pacific.
which rebounded points Price sreceded
houf. Smelling fell saa Union Pacific
per cent. Reading 5ae per cent. Southern
rseilc 3ss per cent, Analgamated Copper
ana ST Paul 2 and Y. s. Steel per cent,
4 MECT0Nk