The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-21
WALL STREET
LANGUID STOCK MARKET
OPENING TODAY.
Declines in Prices Followed by Rallies
Which Again Give Way to Pres
sure of Liquidation.

NEW YORK, Nov. 2l.-The tone OF the
opening stock market was affected by the
pronounced eakness of a few stocks. but
changes generally were narrow and the
volume of business was small. Erie first
preferred fell 8, Bethlehem Steel preferred
21h, Louisville and Nashville ia, American
Steel Foundries preferred IL, New York
Central and Kansas and Texas preferred
IA. Pennsylvania and Baltimore and Ohio
11s, Atlantic Coast Line and United States
Rubber second preferred 1, and st. Paul
and Southern Railway large fractions.
Cranky Mining sold at a decline OF 20
points.
II a. m.-Opening losses We're increased
before there was any successful effort 10
stop the decline, but a sharp rally raised
st. Paul. Union Pacific, Southern Pacinc.
Reading and the metal stocks above yes
terday's closing and wiped out the decline
in New York Central. Peoples Gas and
Westinghouse Electric advanced II point.
Continued liquidation In the Erie pre-
ferred stock and Brooklyn Transit. the
latter declining IA. affected the market
afterwards and there were reactions.
II m.-Special stocks were pressed urg-
entity for sale, but the list as a whole
did not yield notably. The conspicuous
declines were Erie first preferred s, Fed
eral Mining s, Denver and Rio Grande
preferred 3&, Kansas and Texas preferred
Brooklyn Transit, Western Union and DIS
tillers' Securities 8 to 3h, Baltimore ana
Ohio, 2A, Federal Mining preferred 2a,
Toledo, st. Louis and Western preferred
"a, Pennsylvania, American Locomotive
and Peoples Gas 2, Southern Railway pre-
ferred Ia and Union Pacific, Ontario and
Western, Chesapeake and Ohio, Delaware
and Hudson, American Smelling, and Cen
eral Electric 1 or more. Liquidation caused
sharp declines In a few bonds, the Chi
cago. Rock Island and Pacific collateral
5s breaking 41s. The tone of the bond
market was slightly irregular.
1 D. m.-Low priced stocks bore the
brunt of the liquidation, which finally be-
gan to cause selling of the high-priced
1avorites. The volume of offerings was
moderate, the severe declines resulting
principally In lack of demand. Southern
Railway preferred broke violently between
and touched 3015, a loss of Ga, Amer
lean Locomotive and Minneapolis, st. Paul
and Sault ste. Marie dropped "a, the pre-
ferred "a, Northwestern 2, Reading, Cana
dian Pacific and Chicago and Alton TX,
American Sugar TX, Union Pacific IA.
Northern Pacific 1Ss and Rock Island pre-
ferred l.
Selected stocks continued very weak, but
the rest of the list held well In comparison.
Louisville and Nashville gave way AZ,
Coast Line 8, Canadian Pacific
End American Locomotive preferred 2Es
Delaware and Hudson. Twin City Rapid
IA and the Atchison stocks, Mis-
souri, Pacific and Virvinia-C Carolina Chemi-
cal preferred /. A demand for the active
stocks led by American Smelling pulled the
up sharply toward 9 o'clock.
8 p, m.-The market closed steady at a
rally. Brooklyn TRANSIT came under re-
newed pressure at a decline of S9s. Atchi-
son fell 2, Central Railroad of New Jer-
eey 8, Paper preferred Sss
and American Car preferred ard Republic
Steel preferred l. The rally which fol-
lowed ran to a point in several stocks, 1k
in Canadian Pacific and New York Central
and Ia in ST. Paul. The result was to
establish prices of a limited number of
stocks above last nights level.