The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-05
WALL STREET
A CONTINENTAL HEAV-
lest SELLING STOCKS.
Kansas City's National Bank of Com
merce Suspension Affects Some
Bull Favorites.

NEW YORK. Dec. 5.-Prices of stocks
were little changed from last night in the
opening dealings, which were quiet. Small
gains and losses were intermineled. DEN
yer and Rio Grande. Central Railroad OF
New Jersey and Erie first preferred rose
/ and Brooklyn Transit =. American
Sugar declined 1Ss,
II a. m.-There was some free speculative
liquidation on the announcement OF the
suspension of the National Bank OF Com
merce. of Kansas City. Stocks which nave
been recent favorites with the bulls were
most affected. Average losses reached a
point. but the heaviest selling was In the
trans-Continental stocks, Reading ana
American Smelling. Buying orders were
distributed before IL o'clock and the mar
ket rallied a fraction. Wheeling ana Lake
Erie first preferred fell 3 points, st. Paul
"a, Union Pacific, Northern Pacifc ana
Reading 2, American Smelling ia ana
Pennsylvania, Atchison, Colorado and
Southern first preferred and Western
Union H.. Denver and Rio Grande, Long
Island and American Cotton OIL preferred
advanced 2 and Baltimore and ONO pre-
fcrred and American b preferred J.
The character of the support in the
market drove the bears to cover shorts,
and the market rallied strongly. The Hin
stocks were conspicuous, Great Northern
preferred rose 81 higher than last night
and Northern Pacific 29s. The whole list
rose over last nights prices. Westing-
house Electric first preferred gained 3,
New York Air Brake AZ, Buffalo, Roches-
ter and Pittsburg 33s, Northwestern 2, New
York Central IA, st. Paul and Unicn
Pacific 1ss, and Pennsylvania, Southern
Railway preferred, Louisville and Nash
willie, Delaware and Hudson, National
Railroad of Mexico preferred, General
Electric and American Ice l or more.
Bonds were irregular.
The market ran off sharply and then re-
botinded to a higher level than previously.
Large blocks of Reading. st. Paul, Union
Pacific and American Smelling were pur-
chased, making these stocks the leaders OF
the advance. Manhattan Improved 5
points, Northern Pacific ga, st. Paul, Della
ware and Hudson, Southern Railway pre-
ferred, Pittsburg, c., c. and st. Louis,
U. S. Rubber aud Detroit United Railways
Company 3, American Smelling AZ, Union
Pacific 22s, Pullman and Corn Products
preferred "a, Reading. Louisville and
Nashville and American Locomotive 2,
Canadian Pacific and Peoples Gas IA, aud
Pennsylvania 15s.
2 D. ma further jump In Reading to 81
pulled up the rest of the market mod
erately, after which the trading became
r~eactionary. A jump in U. S. Steel pre-
ferred initiated a new advance. Bust
ness was in larger volume than at any
time since the recovery in prices set in.
The high points showed Missouri Pacific
up AZ, Reading S1s, the second preferred 6,
Pennsylvania, L.. S. Steel preferred and
Colorado Fuel 2@ to 2%. Colorado and
Southern ,, American Sugar and Amefi-
can Tobacco , to *. Atchison IA and
-Am~algamated Copper 11s.
) p. m.-The market closed up and quite
active. The final hour of trading was
given over principally to the digestion OF
profits or the days rise. This cut down
the advance materially, nj in some promi-
nent stocks wiped it out entirely, notably
the copper group. Consolidated. Gas sold
at a decline OF 2 and International Paper
preferred 142. Federal Mining preferred
rose so and Corn Products preferred 4.