Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-21
Declines in Every Quarter
Featured Dealings.
HEAVY SELLING AT OPENING
Rallies Later in the Day Helped
Some Stocks.
ST0P-L0SS ORDERS GENERAL
Foreign Houses Were Also Sellers.
Speculative Sentiment Highly
Confused.
ORDERS GENERAL
Special Dispatch to The Star.

NEW YORK September o1.-ln view
of the general character and tendencies
of last weeks stock market, and par
ticularly Of those of last Saturday, moth
ing but a weak and unsettled opening
could have reasonably been expected of
this mornings dealings Such an open
ing was. in fact, experienced. and subse-
quently declines ranging from fractional
limits TO more than two points were
scored in every quarter Of the market
Transactions during the forenoon were
In very large volume. but the trading
became much less active toward midday,
and a number Of substantial rallies were
scored from the early levels of depres-
sion.
The transactions during the morning
presented precisely the same circum-
stances that might have been looked for
In the light of last weeks serious shrink
age In values.
The execution of stop loss orders was
reported in all directions and there was
quite heavy selling by commission houses
representing the closing out of accounts
weakened in last weeks decline. For
eign houses were sellers here also, al
though upon a comparatively small scale.
covering Oh ouOICS.
Such recoveries as occurred at one time
or another during the day appeared to re-
feet the covering of short contracts.
There were few signs of concerted sup
port in any quarter. although number
of stocks did show exceptional strength.
noteworthy cases in point being Lrie COM
mon: Wisconsin Central ard National
Lead.
Speculative sentiment was again highly
confused and generally speaking de-
pressed for the same general reasons
which were similarly effective last week.
II is hardly necessary to say that these
included the prevailing so-called political
scare as emphasized by recent develop
ments and continued discussion with re-
gard to the prospect of reduced dividend
payments by number of important cor
porations and the renewed depressions in
trade.
Published reports to the effect that a
wholesale return to work of the employees
of the United States Steel Corporation
at Pittsburg had been ordered met with
prompt and authoritative denial.
Factors in the Upset.
A further reduction was announced in
the selling prices for copper metal An
other factor in the unsettlement Of the
stock market was a rather persistent
rumor that the federal authorities had
under consideration a further vigorous
attack upon the Standard Oil Company
on new lines. although these reports were
quite vague so far as actual details were
concerned. Generally speaking. the best
Idea Of the tendencies of the days market
could be derived from consideration of the
dealings upon purely technical lines. and
these have been sketched out above.
Money on call again loaned at the low
level established Friday and little altera-
ton was noted IN the rates for sterling
exchange. The commodity markets were
weak.
In the stock market the transactions
were largest and fluctuations widest in
American Smelling, AmalgaFnated Cop
per. st. Paul, Illinois Central Missouri
Pacific, the Hill stocks, Union and South
ern Pacific and Reading. The United
States Steel shares were dealt lin upon a
large scale also. but fuctuated within
narrower limits than the stocks men,
toned.