Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-11-09
MARKET TOOK
STRONG REACTION.
-----
There Was a Sensational Break
Of Thirty-Two Points in
Tobacco Common.
LONDON NEWS UNFAvoRABLE.
LONDON NEWS UNFAvoRABL L..
This and Pressure to Realize Cause. Of
Lower Pricc-Closc Was Active,
Generally Weak.

New York, Nov. IA sensational
break OF 80 points i'll the price OF INC
common stock of the American Iopae-
GO company on the curb today resulted
in a sharp reaction in prices OF read
ing active stocks during the first hout
bidding on the New York STOCK CA
change. The violent decline in ZODIAC
co stock was attributed to the declsioii
OF the United states cicruit court oe
claring that the American lopacto
company was Il combination IN rcstfa'h'
OF trace which was gwen after VIZ
close OF the stock market ON sasui
u;ty Inc last price Tor Tobacco t" ,.n,
mon on saturday was 80 anu us ~ -
inE tho first hour Of tlading on me
curb market touaS IL SOU uu"h " oto.
Inc price OF american Tobacco Iietei
red ON the Stock eNchanse teii -,
cent bonds 3YA points: not only ulu WY
accession OF the COURT cause siaNe nn ,t
etyas 10 the scope or the sherman 49,
but the untavorabie situation Was az
;,l,lvated BY Il proIlt-taklns moNem, ,il,,,
W last weeks buyers VINO tioo4ca NE
llt.llliet with selling orders.
stocks sod L 10 liz lower Than salur-
uay IN the course of the ilst ilodr
lncse Included United States See,
Amalgamated Copper American smell
Northern preferred and several Oh l;,e
eastern trunk lines. coalcrs and sou.h-
ern railroad stocks.
"A vigorous rally followed curing IN
second hour when new points OF
strength developed ,,nd establshed
handsome net gains in those stocAs ., Oyer s,.
saturdays closing. Missouri racine
was conspicuous with a rise of 70
Ihc later stock market showed SUD
siuence of the acute apprehension mani
Tested earlier over the scope or the
American Tobacco decision. Operations
were resumed on the long side OF the
market and prices were married un az
feet Of restoring the general level 70
Saturdays closing or above. Reading
and Il group of coalers, the Rock Island
stocks and american Sugar wete
amongst conspicuous stocks besides me
Gould which helped to sustain the mar
ket There was manifest pressure TO
continue the realizing of profits on all
strong spots and the Irregular move,
ment of prices showed an uninterrupted
effect from this during the remainder
of the day. Prices ran off again In
the late dealings, in some cases TO near
the lowest,
The lower prices for Americans sent
from London before the opening here
ESTe "aring on feam lhan Ihe NEW
York market opened. Mixed Trice.
changes was the result. stocks which,
critics starting lower. and others CON
tlnuins last weeks advance. ANA ga
mated Copper declined IA and Ana
conda Y
Bidding on number of minor stocks
married an effort to sustain the list tor
a time. hut the heavy realizing in the
active railroad stocks, ultimately drag
ged down the whole list. Great North
ern preferred and Missouri Pacifis
showed some resistance at times.
Losses running from to ll2 were reg
istered in some important stocks, in
Guiding st. Paul. Northern Pacific,
Union Pacific. Southern Pacific. Read
ing. New York Central. htclison. Unit
ed States Steel and American Smelling.
Utah Copper touched SEX and then
Great Western preferred advanced 3
points, Atlantic Coast Line ., Ameri-
can Locomotive Ia international Pap
er preferred 70 and some others a
point or moro. American Tobacco broke
is on the judicial decision against the
Reading came into prominence after
midday and Jumped La to 100 The
strength of this stock less ned the Eff
feet on the realization was going on
other points and there was subsc-
auent general hardening =, Lackawan az
Delaware & Hudson 3. Rock Island pre-
ferred 2is, the common La and Balti-
more &: Ohio. Denver X Rio Grande.
Anaconda, Tennessee Copper. Peoria &
Biscuit and Hide K Leather preferred l..
The market closed active and gener-
ally weak. There were signs that
stocks We're being distributed while
prices We're sustained by the sSmpathe-
tic effect of the few advances.
and fell in some cases as log rs IN
the morning. a late rise OF ! III Penn
sylvania was without effect in check
ing tile reaction elsewhere.