The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-09
LEADERS BREAK
MARKET On HEAVY
REALIZING SALES
Standard Rails and Big Indus
trials Decline Under
Pressure.

NEW YORK, Nov. 9.-The lower
prices for Americans sent from London
before the openingfh here gave warning
Of a realizing movement which was
manifest when the New York market
opened. Mixed price changes were the
result. stocks which have been the most
active speculative favorites starting
lower and others continuing last weeks
advance. Amalgamated Copper and
Virginia. Carolina Chemical declined IL,
and Northern Pacific and Anaconda q.
Utah Copper rose 21a and New York
Central. Pressed Steel Car, Consolidated
Gas, Railway Steel Spring and Distill-
ers' Securities large fractions.
II a. m.-Biddipg up of a number Of
minor stocks marked an effort to sus-
tain the list for a time, but the heavy
realizing in the active railroad stocks
ultimately dragged down the whole
list. Great Northern preferred and
Missouri Pacific showed some resist
n C at times. Losses running from
l to liz were registered in some i'm
portant stocks. including st. Paul,
Northern Pacific, Union Pacific, South
ern Pacific, Reading. New York Cen
trail, Atchison, United States Steel and
American Smelling. Utah Copper
touched 52A and then reacted "a. New
Haven n Chicago Great Western pre-
ferred advanced 3 points, Atlantic
Coast Line 2, American Locomotive IL,
International Paper preferred IL, and
some others a point or more. Ameri-
can Tobacco preferred brola 3s on the
judicial decision against the company
in the governments suit.
Noon-Aggressiye bidding up of the
Gould stocks was used as vigorous
support of the market, and prices re-
covered almost completely the earlier
losses. Dealings on the rebound con-
tinued on a large scale, but began to
diminish around the level of Saturday.
Bonds were irregular. American To-
bacco IS broke 3% and the As 21a.
l p. m.-Reading came into promi-
ennce after midday and jumped ~ to
1879. The strength of this stock les
sened the effect on the realization that
was going OIL at other points, and
there was a subsequent hard
ening. Lackawanna gained 51s, Nor
folk and Western ga, Delaware and
Hudson 3, Rock Island preferred 2s,
the common IN, and Baltimore and
Ohio, Denver and Rio Grande, Ana
conda, Tennessee Copper, Peoria and
Eastern, American Wooden, National
Biscuit and Hide and Leather pre-
ferred 1.
2 p. ma reaction in Reading caused
selling of other" stocks and the whole
list went off a sharp fraction, but a
lat rise in Reading and Union Pacific
to their top prices pulled the list up
again. Fresh offerings were met on the
advance and prices fell back again a
fraction. Reading rose TO 1895, a gain
of 2as. Cleveland C. c. and st. Louis
also moved up III and Lackawanna 7h
3 p. m.-The market closed active anC
generally weak. There were signs thai
stocks were being distributed whilS
prices were sustained by the sympa.
fetic effect of the few advances. The
market thereupon gave way again and
fell, in some cases to as low prices as
in the morning. Louisville and Nash
vile lost IL, New York Central liz
and Minneapolis and st. Louis 2. A
late rise of l in Pennsylvania was with
effect in checking the reaction else
where.