Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-11-11
VIOLENT BREAK IN
HARTMAN PAC|F|Cs

New York. Nov. ia violent break IN
nrices of tho stocks Of the Hartman
Pacific railroads caused fcverish a'la
excited tone in the early stock nlAEh ~.
today, These stocks were unloadeu IN
enormous amounts by spectators WY
bought them yesterday on the runners ss
that dividends were to be advanced ~
the directors meeting todaX "a es aver
days rumors were d1screaitlieu, M
night and the belief prevailed tlin
only regular dividends would pc ue ,,ar,,
cd Soon after the opening sou ,l,,.aa
Pacific sold down to 1lGh, G ioh, ~
Hos at the highest yesterday me inM
price For Union Pacific on II the pre ,an
was l19S compared with la .. i . shs
est est Yesterday ester Tho whole market de-
cJined in Sympathy. losses running INNING
from to points in the &c active We sa om,'s
support became ofLe a, and prices o,.n raj
lied with the effect OF quiet ,,n, ,ne at. az
tivity which had been ut a furious raIe.
There was q good dea atoc 1l narRet
caused by heavy realizing in some nsh; 81
the recent speculative taSorltes WIZ M,
other stocks advanced si1 naI,tio. vas
Wild, sales of 1900 shares Of Union m, ,-a "a
cafiic being made ut ls0sf and laAt
sopa5sd With ISL at Il the eiTIe Pa
CHIC were OF 1880 shares all the ,, @aX
from 1i7@ to III as against l1fss
Great Northern preferred opened,
American Smelling "a, and American .,.a
Locomotive 1s. American Can pre-
ferrcd made gain OF ~, "a Gahla 1,,,i,
and Utah Copper /, and Kansas u TEX
The rush to sell continued, the col
lapse of the Hartman stocks enconfas-
ing the professionals to sell heavily ior
both accounts, Lower prices were mace l
before any serious effort was made 10
She fnd eos a Sorfoik &. western Yielded
IL point, A foverish rally lifted prices
sharply, but the list was sold fre f,l.sln.
". Towards II O'CLOCK Southern , haGii'S
points below yesterdays closing. Union
Paciiics decline was l 70. a numDet 80, o.
the less tyf stocks x wess 1amped 10
points. A0Nas II Pacific Land Trusts =,
Cranky Mining s. Chicago Terminal
preferred 3, st. Louis Sontli%est tern n 4.
par Is p!s'effeu . '>'
The renewed declin. was followed by
the professionals with short sales ana
this element had to, advance bids 70
cover shorts. a rally of o noint or
more from the lowest, vas the conse,
an effective stmulant to the rally.5 \
number Of low priced, railroad stocks
rose to IA At the low point KS S ,2udn,
Biscuit 8. Union Pacific i2H and Read
ing .. Trading became dull on Tie
rally
Bonds We're easy
A. stronger and broader market re-
suited after Il o'clock with The demand
for the low priced railroad stocks the
most noticeable feature The declara-
tion Of the regular dividends Oh South
ern Pacific and Union Pacific was fol-
lowed by a fresh dip Of a SLIGHT tia.-
ton followed by recovery. The stand
ard iailroat, stocks all moved UP whsl
the low priced stocks began to jump
but the manifest profit-takinG in the :
Hartman stocks kept them from gain
ing much. Pacific Mail advanced ].
it was evident from the action of the
market that the large interests had
sold the high priced stocks freely un-
der cover Of the demonstration IN the
low priced securities. When the profess
SIGNALS s,woke to this fact they offered
stocks heavily all around the room
and drove prices as low or lower than
iii the forenoon.
The market closed extremely active
and generally strong Prices broke
a gain with violence in the final hour
when such declines We're shown as Ain
Smelling and an extension generally of
the forenoon declines.
Rallies of 1 to followed when shorts
bought TO cover. Some OF the low
priced stocks got back to their best
prices, ~ 5s go