Daily press. [volume] (Newport News, Va.) 1896-current, 1907-08-13
Professionals Very Much Disgust.
ed With The Lack Of Conf.
denCe Of The Public.
STANDARD OIL TAKES BIG DROP
Abruptly 1t Went Down twenty-five
Points and Sold the Lowest Since
1so9-Day's Business Was in Elk.
cess of Million Shares = Total
Sales; Closing Quotations.
(By Associated prosn /,


NEW YORK. Aug. 12.-Last
weeks liquidating movement in the
STOCK market was resumed AT the
very opening of business today and
save for few iltful rallies was main.
tanned throughout the session. Sc
curities came out in enormous vol
uine Tor the first ten minutes when
the situation was one of utter de
moralization. The greatest losses
We're recorded by the Hill ana lIarri-
man stocks, but number OF less
conspicuous issues were thrown over
at severe declines. The break was
checked before the end of the first
hour, but i'll the late afternoon prices
went still lower New low records
were made by some issues and tho
list as whole was very near the
low level made In the silent panic
OF last March. Sentiment in high
financial circles was decidedly pessi-
mistic rejecting the disgust and
lack of confidence which appear 10
pervade the markets of the world at
this particular time. To i very large
extent this feeling is based upon ex-
listing monetary conditions. Other
causes which contributed TO today's
sensational declines were the weak
ness of our securities i'll London. per-
sistent rumors OF serious trouble in
Berlin and the strik. of the telcgra-
piers
Standard Oil stock made an abrupt
decline of 20 points on the curb"
selling at the lowest price since
1899. In the final hour another con
certed bear attack carried the list to
the lowest prices of the day. The
weakest issues ut that time were
Great Northern pfd, Great Northern
or certified Northern Pacific. St. Paul,
New oYkr Central. Union Pacific,
Southern Pacific, Delaware & Hud-
son. American Smeung, CONSOLIDATE
ed Gas and lnterborough Metropoli-
tan. There was also heavy selling
of the United States Steel stocks.
much of which was said to be for out
of town account Towards the end
the market became more quiet, with
well sustained rally on short cover
Ing. The days business was well
in excess of million shares, more
than one-third OF which, however,
was done in the first hour.
Tho more important declines
were: Copper 3A; Smelling 3as
Anaconda 4; Brooklyn Transit 3H;
Colorado Fuel 3H; Consolidated Gas
~: Delaware & Hudson 5M; Erie
First pfd 3h: Great Northern pfd
3A; illinois Central .; Missouri Pa
cific 3M: National Lead 4A; n. Y.
Air Brake 10: Southern Tiy pfd d;
u. S. Steel pfd . and V. c. G.. s. In
the specialitics the loss ran TO ~
points in American Express and l1h
in CRANKY Mining. Interborough
Az per cent bonds declined ii's
points. Operations for London ac-
count amounted to about 10000
shares.
Total sales stocks including: Cop
per 124.9O0; Smelling $500: Sugar
$500: Tobacco LOO; a. C. Il. 1,AOO;
C. & O. 1900; st. Paul l5.lO0; l.. Il
n. 400: N. Y. Central $4,000; \. X
w. 400; Reading 1S7400; Southern
Nv 2.dOO; pfd 500; u. p. 1SS,2O0; u
s. Steel l0i, 200 pfd 33,S00; V. e
Chem. 1000; Northern Pacific 24,ooo;
Sloss Sheffield 2,i0O; Great Northern
pfd $4,000.
Adams Express ...............1 100
Amalgamated Copper ......-... flA
American Car & Foundry $50. 81
American Car & Foundry pfd :. 9S
American Cotton Oil .......... 81
American Cotton Oil pfd ..... 50
American Express ............ Zou
American Hide & Leather pfd 16
American Ice ................. 81
American Linsced Oil pfd $3.50. 10
American Locomotive ......... oo%i
American Locomotive pfd. ..1O3
American Smelling e. Rcfng :. 90
American Smelling G Rcfg pfd 06
American Sugar Refining ......1i1
American Tobacco pfd certif :. rs
Anaconda Mining Co. ........ 151l
Atchison ........ ............. e5N
Atchison pfd .......... ......- o?%
Atlantic Coast Line ........... fS%
Baltimore & Ohio ............. 9oh
Baltimore & Ohio pfd ....... 50
Hrcoklvn Rapid Transit. ....... ioh
Canadian Pacific ..............1 1887
Central of New Jersey 1880. no
Chesapeake e Ohio ........... 33h
Chicago Great Western ........ 10
Chicago & Northwestern ..... 40
Chicago. MIL & st. Paul 1908
Chicago Terminal & Trans. 49,. G1
Chicago Terminal & Trans. pfd 101
G.. c.. G. &c st. Louis ......... 573
Colorado Fuel & Iron .......... 2S3
Colorado & Southern ......... 2la
Colorado e Southern LIST pfd !. 81
Colorado G. Southern 2nd pfl AZ
Consolidated Gas ,............. 1922
Corn Products Observation-Disclosures. 12I
Corn Products ptd ........ GO
Delaware a. Hudson 1876