The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-06-07
MARKET CLOSES
WEAK LEADERS
REACT|0NARY
in Minor Stocks.
Wabash Gained-Big Call for
Reading Early in Day.

NEW YORK, June The stock
market opened today with operations
on a large scale and sharp advances in
prices in numerous stocks. There were
a few declines, including Union Pacific
and United States Steel, but the domi-
nant toni of the market was very
strong. Republic Steel preferred sold
at an advance of az. Brooklyn Tran
sit rose IL, Atchison, Erie, American
Locomotive, American Cotton Oil,
Westinghouse Electric and National
Enameling l and Southern Pacific, st.
Paul. Northern Pacific, Great Northern
preferred, Ontario and Western, South
ern Railway, American Smelling and
~Interborough : Metropolitan preferred
large fractions.
IL ~o'elock-Heavy realizing met the
initial advance and gains generally
were wiped out, with some stocks re-
.ceding below Saturdays closing. Spir-
tied buying of Reading subsequently,
sent it up to ~. Wabash preferred
also got up IL, but the slight rally
which resulted In the active stocks was
not held. The pressure against Union
Pacific and United States Steel was
conspicuous in the realizing. Vulcan
defining preferred moved up PA. u.
S. Pipe preferred 2as, American Beet
Sugar preferred and National Enamel
ing preferred Ia, u. S. Rubber first pre-
'ferred 1ss, the common Ia. Republic
Steel IA, Delaware and Hudson, At
lantic Coast Line, Baltimore and Ohio
and Cleveland, C. G. and st. Louis l.
Erie second preferred fell PA. and
Union Pacific and Kansas and Texas
reelected.
Noon-A demand sprang up for
stocks of railroads in Southern terri
tory. which had sympathetic sustaining
influence on the general list. The
movement was narrow outside these
special features of strength. Reading
rose 8, New York, Chicago and st.
Louis 2ss, Atlantic Coast Line, Louis
vile and Nashville, Illinois Ventral,
Wabash preferred. North American and
u. s. Rubber second preferred 2 to PA,
Peoples Gas III n Denver and Rio
Grande /. st. Louis Southwestern pre-
ferred declined Ia. The market was
oull and heavy at Moons Bonds were
irregular.
tCAh6 NCIt
rather neglected, and there were no
fluctuations of Importance among them.
A number of specialties. however, rose
strongly. Western Union gained 3
points, American Telephone and Tele-
graph pa. Reading second preferred.
Chicago and Alton preferred and
Cleveland. C. c. and st. Louis 2. Amer
lean Wooden IN and American Ice 2.
American Smelling preferred ran off /.
Western Maryland 1% and Bethlehem
Steel III.
2 o'clock.-The market moved uncer-
tainly In the late session. and did not
hold to any definite tendency for long.
At 2 O'Clock the drift was downward.
With the low prices OF the day ruling
for some stocks. Louisville and Nash
Vile fell back ~. st. Paul, U. s.. Steel.
American Steel Foundrfes and Wheel
ing and Lake Erie first preferred were
off a point and ST. Louis and San Fran
cisco first preferred Ia. American
Agricultural Chemical advanced III
and International Paper preferred l.
8 o'clock-The market closed weak.
A demonstration of strength in the
Rock Island stocks was of so little
effect that holders became discouraged
and threw over some stocks. Low
prices for the day resulted. Reading
lost all but a small fraction of its rise.