The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-09-22
BEARS lombard
STOCKS F|ERCELY
MARKET RUMBLES
Support Brought in Early Morn
ing Is Swept Aside and
Prices Tumble.

NEW YORK. Sept, 22.-The o of
the opening stock market today was
extremely irregular, but the price
changes. while much mixed, were not
wide except in a few instances. Great
Northern preferred was lifted liz,
American Smelling 1as, and Northern
Pacific. Canadian Pacific. Minneapolis,
st. Paul and Sault Ste. Marie, Reading
and Kansas and Texas large fractions.
Amalgamated Copper ran off rapidly
Ia, and Toledo, st. Louis n Western
preferred. Pressed Steel Car and Peo-
pies Gas lost l. The dealings were very
active.
IL a. m.-After some further unset
tlement during which Missouri Pacific.
Colorado and Southern and National
Lead advanced "A point the market de-
veloped general weakness, which was
heightened by the liquidation In North
EN- Pacific, New York Central and An
aconda. support vas extended to
some of the prominent stocks when
they had receded to about yesterdays
closing or slightly below. Around il
O'Clock the market was rising brlskly
again. National Lead had risen anew
to 7Sa4 or . points over last night, and
st. Paul a point.
Noon-The rally put an end to buying,
and invited renewed attack by the
bears. a sudden outpouring of stocks
followed, on which there were scnsa-
tionai breaks of V 10 II points between
sales OF the most active stocks, Union
Pacific dropped 3s4 below last night,
Reading 8, Louisville and Nashville 4,
Westinghouse Electric 31a, Illinois Cen
ira! 5, Southern Pacific rs, Northern
Pacific, L. $. Steel, Anlalgamated Cop
per and General Electric . and ST. Paul
Ia. Bonds were weak.
! p. n~.-Stocks were bought eyten-
sively al the low prices current alourd
largely TO cover shorts, and there
were rallies of / to , points. with Read
ing and Union Pacific leading. .sn-
other drive agairst Reading, which
broke it . points IN all to 12o%, started
renewed liquidation Of other stocks, and
some Of them dropped back 10 the
lowest. some OF the notable declines
at the low level were Drls ware ara
Hudson and LoulspiHc and Nashvil e
$, Consolidated Gas 3ls, Atlantic Coast
Line, General Electric and Republic
solrcl preferred ., 1. -. Ntcel prtdrffE,1
"a, and Baltimore and Ohio, Chcsl-
peake and Ohio and Rock Island ore
ferrefi 2.
; y. ln.-~The Generalization in Read
ing was checked by the issuance %
large supporting orders, which drove
the shorts to over pell-mell. The
stock rallied 5 points, but, although the
rest of the list moved up. also, from /
to : points above the lowest, the recoy-
cry did not extend beyond the level
reached on the previous rally. Bust
ness fell off considerably around tho
improved level, but prices We're well
maintained.
Q p. m.-Tlae market closed feverish.
Shorts covered and rallied prices l to
3 points FOR active stocks. When the
demahd from shorts subsidized there was
a rapid decline again. Union Pacific
dropping to 149ss, the lowest of the day
Other stocks showed resistance to the
Cecline, and after a sharp reaction
there was quick rebound.
There was another rush to cover by
the shorts. II gains over last night
were established in some of the active
stocks. extending to a point or over in
Canadian Pacific. Kansas and Texas,
American Smelling, Erie and Ontario
and Western