The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-21
WALL STREET
ADVANCE VIOLENT
LYAT OPENING.
Reaction Sets In, However, and Market
ouiets Down, with Improvement
Not Entirely Lost.

NEW YORK, Oct. 21.-Opening prices OF
stocks rebounded violently from the de-
preston in which they closed last week
This was due to the relief felt over the
measures taken by the Clearing House
over Sunday to control the banking situa-
ton. American Smelling shot up Ss, Union
Pacific pa, Northern Pacific 2h, Southern
Pacific. Great Northern Ore certificates
and Anaconda 2, Reading 2ss, Amalga-
mated Copper and Canadian Pacific lss,
u. S. Steel preferred. Kansas and Texas
and Distillers' Securities IA. st. a and
Atchison ia and the list generally varying
fractions and UP to a point. There was a
sprinkling of losses among the less active
stocks. including Mackay Companies, which
declined a point, and Minneapolis, st. Paul
and Sat Ste. Marie 2K.
IL a. m.-Opening advances were not
fully held and there was a general re-
action which reached a point in many OF
the leading stocks. The market then
quieted down, but gradually improved Its
position until the list got back to about the
early high price. st. Louis Southwestern
preferred and American Smelling preferred
gained ., American Car preferred ~, Mis-
souri, Pacific and Pressed Steel Car 11s,
Consolidated Gas 1s and Delaware and
Hudson and ACKNOWLEDGEMENTS
preferred X. American Sugar preferred
fell 4, United Cigar preferred 1Ns, Mackay
Companies 11s and Western Union and
Northwestern a point. 1t II o'clock New
York Central fell below par and the list
yielded moderately on small dealings.
u MATER a considerable reaction
prices rose again to a higher level than
before. Reports that conditions were tram
quill at the banks treasured sentiment.
Union Pacifcs again reached 31s, Ameri-
can Smelling, AZ; Louisville and Nash
Vile, Missouri Pacific, Atlantic Coast Line
and A~malgamated Copper, 2; st. Paul, 1%,
and U. s. Rubber, second preferred and
international Paper preferred, IA. Some
of the inactive stocks showed the effects
of liquidation, American Ice falling 5;
Toledo, st. Louis and Western preferred,
and Mackay Companies, 4; New York Air
Brake, 8, n Colorado and Southern
second preferred, ia. Bonds were ir-
regular.
l p. m.-Buying orders increased con-
siderably and there was a further mate
rial advance all around. American
Smelling and Union Pacific were extern
sively bought, which contributed largely
to the confidence of the bulls. American
Smelling improved 5hs, the preferred 5,
Canadian Pacific AZ, Union Pacific and
Consolidated Gas 4, Amalgamated Cop
per 3K, Anaconda 3A, Southern Pacific
3%. Northern Pacific 81, Reading 3h, At
lantic Coast Line and u. s.. Steel preferred
3 and st. Paul. Great Northern preferred,
American Sugar. Brooklyn Transit, Ma
Lead and General Electric 2 to N;
Lackawanna fell 5.
2 p. m.-Previous gains were all ex-
tended, but the rate of advance was not
so rapid as earlier and business was dull.
Practically every stock of recognized i'm
p%ortance was quoted from 2 to 4 points
above Saturdays closing. American Smelt-
ing got up 61s, United States Steel pre-
ferred and American Locomotive preferred
1, and st. Paul, United States Rubber first
and North American 3 points.
Hooking Valley Trust receipts declined 4.
3 p. m.-The market closed strong. There
was enough profit taking to be digested
in the final hour to cause a reaction again,
which ran to 2 points in American Smelt-
ing. Westinghouse Electric dropped 6a and
CRANKY Mining 8. American Smelling pre-
ferred rose 41s. National Lead 3s and Mis-
souri, Pacific 3h. Prices turned upward
again after the reaction.