The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-24
WALL STREET
STOCK MARKET OPENS
STRONG, THEN REACTS.
London Advances Foreshadow Recovery
in New York-Westinghouse Elec-
trio Shares Fluctuate.

NEW YORK, Oct. 24.-Prices of stocks
shot up buoyantly in the opening dealings
as an expression of relief over the meas
1rres taken over night to fortify the finan-
cial position. Early advances in London
heralded the recovery here. Westinghouse
Electric rebounded 10 points from yester-
days closing and then reacted 5. American
Tobacco preferred jumped Az, Baltimore
and Ohio 2A, General Electric 21s. Union
Pacific. Southern Pacific, Canadian Pacific
and Atchlson 2. Great Northern preferred
10, st. Paul and American Smelling IL.
American Ice 1%. Amalgamated Copper IA
and a general range of advances running
up to a point. A few stocks ran off con-
trary to the current of the market, Mime
apolis, st. Paul and Sault Sainte Marie
falling AZ, Southern Pacific preferred 21s,
ACKNOWLEDGEMENTS preferred ia
and Missouri Pacific and Toledo, st. Louis
and Western 1.
IL a. m.-The advance did not hold long.
hasty realizing and renewed liquidation In
certain stocks speedily wiping out the in
itial advances. Federal mining preferred
dropped 20 points, international Pump pre-
ferred 6, New York Air Brake 5, Missouri
Pacific and Manhattan AZ Corn Products
preferred AS, Southern Pacific preferred 4.
baltimore and Ohio preferred 3s, Reading
o1S anu ItflisylNdIlld llilUOlS OtUlTbl, NUT
folk and Western, Delaware and Hudson.
the Hill n Hartman stocks. American
Smelling, Sugar, Mackay Companies and
IL to over 2 points. The whole
market reacted decisively to below last
nights level.
IL m.-The renewal of liquidation caused
some d~isorderly breaks in prices, but the
market steadied and became quiet again
before noon. The so per cent. money rate
indicated the continued %strlngency of the
money market. Northern Pacific was car
ried down 5 points below last night; the
other Hill and Hartman stocks-St. Paul,
Illinois Central, American Smelling and
Sugar-betWeen 3 and 4 points. New York
Air Brake broke II points, American Elk
press ~, st. Louis Southwestern preferred
GA. u. s.. Pipe preferred 8 and Kansas and
Texas. American Locomotive, Brooklyn
Transit. Republic Steel preferred. Distil-
lers' Securities and American Cotton Oil
2 to 215. Rallies ran from / to 15s in the
most active of the weak stocks. The pres
sure of liquidation was very evident in
the bond market, where sharp declines
were general.
! p. Misrepresentation was feverish. st.
Paul. Atehison and the Hill stocks reacted
to the lowest. but there were monetary
good rallies in other leaders. New York
Air Brake got down AK, U. S. Leather
preferred 11A, American Shelters Securi-
ties preferred b 10, National Biscuit 5E,
IOleuO, 81. LOUIS ana western pfeIerreu
81. Delaware and Hudson, Mackay Com
panies and CRANKY Mining 5, Northwest
ern preferred A, Pullman 8 and Railway
Steel Spring pa. Chicago, st. Paul, Mime
apolis and Omaha dropped 5, but imme-
II.
2 d. m.-The list lowered close to the low
point of the day, although offerings were
scanty, Continued lnroads were made on
prices of inactive stocks. American
Securities preferred B extended
its decline to II. Pullman 6, Chicago Great
preferred A 5h. American Tele-
phone and Telegraph, Virginia Iron and
Texas Land Trust 5, Illinois Central "A,
Virginia Carolina Chemical preferred 4,
Republic Steel preferred SA. National Bis
cult preferred 3a and Consolidated Gas and
Sloss-Shefield Steel 3.
3 %. m.-The market closed in much con-
fusion but generally strong. Prices were
declining rapidly when there was a trans
worked by the news that $25, 00O,-
900 had been provided by bankers to lend
on call. A sudden and violent rebound fol-
after which the market fell into
lullness and uncertainty. st. Paul, Union
Pacific and Northern Pacific were carried
near to par by the slump. Northern Pa
cific's decline reached 991a, Union Pacific
~. Reading SIS and many others from 3
TO 6 points. American Shelters Securities
B dropped 20 points, Pullman 8
md Republic Steel preferred 81, Union Pa
Northern Pacific and Great Northern
preferred 8 to 6, ~Amalgamated Copper 4
and others / to 31a. u. S. Steel rose III
over last night in the late dealings, and
the preferred /.