The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-11
SELLING
By BIG INSIDERS
BREAKS PRICES
Feverish Day in Market with
Heavy Pressure on
Harrimans.

NEW YORK, Nov. 11.-There was a
good deal of ~irregularity in the opening
stock market, caused by heavy realiz-
ing in some of the recent speculative
favorites, while other stock were adj
vaneed sharply.
The opening in the Hartman Pacifics
was wild, sales of 1900 shares of Union
Pacific being made at 1905 and 179A,
compared with 1S1 al the close yester-
day. The first sales of Southern Pacific
We're of $500 shares all the way from
117a to III as against 117N. Great
Northern preferred opened 2 points
lower, Amalgamated Copper liz, Amer
lean Smelling IA and American Loco
motive rs. American Can preferred
made a gain of Ia, Canadian Pacific
rs, Cleveland. c., C. and st. Louis and
II a. m.-The rush to sell continued,
the collapse of the Hartman stocks
encouraging the professionals to sell
heavily for both Lower
prices were made before any serious
effort was made to check the decline.
st. Paul, Delaware and Hudson and
Norfolk and Western yielded III and
the list generally a point or more. A
feverish rally lifted prices sharply. but
the list was sold frequently.
Toward IL o'clock Southern Pacific
was driven to 115A, or more than two
points below yesterdays closing. Union
Pacific's extreme decline was Us. A
number of the less active stocks were
pushed forward. Wells-Fargo Express
jumped 10 points, Texas and Pacific
Land Trust 6, CRANKY Mining 5, Chi
cago Terminal preferred 3, st. Louis
Southwestern /, the preferred 2as and
Tennessee Copper IL.
Noon-The renewed decline was fol-
lowed by the professionals with short
sales, and when the liquidating sales
diminished this element had to &dvance
bids to cover shorts. A rally of a
point or more from the lowest was the
consequence. An advance of ~ in Erie
was an effective stimulant to the rally.
A number of low-price railroad stocks
rose l to IL. 1t the low point South
ern Pacific showed a loss of 8, Ma
tional Biscuit also 3, Union Pacific pa
and Reading 2. The trading became
dull or the rally. Bonds were easy.
l p. ma stronger and broader mar
ket developed after IL O'Clock, with the
demand for the low-priced railroad
stocks The most noticeable feature. The
declaration of the regular dividends on
Southern Pacific n Union Pacific was
followed by a fresh dip of a slight frac-
ton, followed by recovery. The stand
ard railroad stocks all moved up when
the low-priced stocks began to jump,
hut tho D,nnifacf DrnRt talr;on ~ tha
Hartman stocks kept them from gain
ing much. Colorado and Southern ad-
vanced 31a Wabash preferred 2A. Ten.
nessee Cooper 23s, Cleveland, c. c.. an6
St. Louis 2, Kansas and Texas 1Hs
Wheeling and Lake Erie first and sec
ond preferred TX, and Missouri Pacific
Western Union, Wheeling and LAX
Erie, Ontario and Western, Chesapeake
and Ohio, Pacific Mail and Peoples
Gas 1.
2 p. NIT was evident from tn
market that the large interests hat
sold the high-priced stocks freely undei
cover of the demonstration in the low
priced securities. When the profes
SIGNALS awoke to this fact they Offered
stocks heavily all round the room ant
drove prices as low or lower than il
the forenoon. Union Pacific, st. Pau
and American Smelling were among
the leaders that sold below their morn
ing low prices. Union Pacific yielded
2s.. in all, American Smelling 2 ant
Rock Island preferred IL. Colorado
and Southern reacted "a from the high
est and Wabash preferred lost all it
rise.
3 p. m.-The market closed extremely
active and generally strong. Prices
broke again with violence in the fina
hour, when such declines were shown
as 4 in American Smelling, So in Unior
Pacific, 8 in Reading, 81 in Lacka'
wanna, 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 zach
to their best prices.