The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-12
LIST IS
INCLINED TO SAG;
IRREGULAR CLOSE
Steel Common ard Preferred
Make New High
Levels.

NEW YORK, 12.-The stock
market still showed Irregular tenden-
cies at the opening today. Realizing
continued In the h~igh-prieed railroad
stocks and industrials, but a few of
the lower-prieed railroads were pushed
upwards. Reading and Canadian Pa
cidc showed opening losses of Ia,
Southern Pacific and Northern Pacific
l, and Union Pacific, st. Paul. Erie,
Amalgamated Copper. American Smelt-
ing and Anaconda large fractions. Min
neapolis. St. Paul and Sault Ste. Marie
and Tennessee Copper rose l and Mis-
souri, Pacific and Wabash preferred ..
II a. m.-Brisk piddins up of some Of
the loW-priced stocks, especially the
Gould group, afforded support 10 the
market, and there vas a rally. The
pressure of realizing sales. however. in
the active stocks was too severe to
maintain prices, and there wa a relapse
to the opening low figures or below.
ST. Paul. Great Northern Ore certificates
and Westinghouse Electric yielded l
and American Smelling Ia. Advances
had occurred in such cases as ~ in
Intentional Harvester, 2K in Mime
apolis. st. Paul and Sault Ste. Mafie,
21s in Tennessee Copper, 2 in Mime
apolis n st. Louis, IL in Missouri
Pacific. rs In Texas and Pacific and IA
in Karsas and Texas Neferred and
Pittsburg Coal preferred, Northern
Pacific showed later strength, r~allying
from 1905 to 1915. but the rest of the
list showed little sympathy 18th the
rise.
Noon-Northern Pacifc's further rise
to 21s over last night, the strength Of
the New York fractions and an ad-
vance of nearly a point In Southern
Pacific gave a better tone to the mar
ket. There were general recoveries of
the earlier declines and a number OF
minor stocks rose a point over last
night. Peoples Gas advanced 2M.
Bonds were firm.
l p. m.-Enormous buying of u. S.
Steel common lifted it 1B to 56Ha, the
highest figure ever reached. It's adj
vance caused some response in the
whole market, but the general list of
active stocks seemed unable to get much
above yesterdays closing. Northwestern
gained pa. North American 3, American
Can preferred 19s. Cleveland C. C. and
st. Louis INT General Electric IL,
Kansas City Southern preferred and
Consolidated Gas 1as, and Illinois Cen
trail IL. Buffalo, Rochester and Pitts
urg sold at SO, compared with so the
previous sale in May last.
p. m.-The trend of prices became
downward despite an extension of the
rise in u. S. Steel to 56%. Recessions
reached a point in Northern Pacific and
Southern Pacific, but the average de-
cline was moderate. st. Louis and San
Francisco certificates for Chicago and
Eastern Illinois stock sold at 149
against 125 in June last. Chicago and
Alton and Sloss-Shetfield Steel moved
up 219, Bethlehem Steel 2, the preferred
n International Paper preferred IA,
and the Southern Railway stocks. Re
public Steel and Louisville and Nash
vile l..
3 p. m.-The market closed irregular
and only moderately active. There was
some additional spotty advances, es-
pecially in Southern and Trunk Line
railroad stocks, but the general list was
inclined to sag
A rise of IA. to Ia, in u. S. Steel pre-
ferred made a record price for it. At
lantic Coast Line and American Wooden
gained az, Louisville and Nashville 2.
Pennsylvania ~, New York Central
and Southern Railway preferred rs,
and the Rock Island stocks Ia.