New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-11-23
FINANCIAL MARKET
.SHfRP PRICE FAIL.
Standard oil Decision the In
fucncc IN Stock Trading
Copper Deal.

The standard OIL decision came out
g. late on saturday morning that II was
inevitable that II should have con
,i,,,,inq eject I'm Yesterdays market, n
which a severe break in prices occurred
The force OF which did not spend itseh
until around noon. The afternoon trad
ing was of quieter character WIN
partial pricc recovery. the close being
=, q 1.-THE better than the lowest, but
showing net losses for every issue on
The list except Reading and consolidated
CO which made substantial gains, and
so,,r ~ five minor stocks, which ad-
vanced fractionally. The total trans
a,,iops were nearly 10000 shares, the
heaviest for many a day, and on the
decline much liquidation. on orders from
an over the country, operated WIN the
heavy short selling 10 produce the de-
cline in tn course Of which a large
number Of stop loss orders were reached.
u-rap things seemed at their worst
peading which for the greater part OF
Las, week had been the market leader,
WAS bid up about three points TINS
movement marking the turning OF the
tide and the general list moving up
ward a little under supporting purchases
and covering Of short contracts READ
ing ended the day point under IT'S
highest but 81 points higher than On
SATURDAY. the dealings in il having been
much larger than those in any other
issue.
Although it was commonly under
stood and indeed had been annuonced
nv its reures entatives. that the Stand
ard OH Company would appeal the ease,
= considerable delay i'm carrying out the
mandate OF the court thus being as
spred in any event. the fact that all IF
,ba Judges sitting in the case had con-
,.,,--,a in the decision, and that tho
5.,ision If affirmed by the Supreme
court would apparently work sweeping
changes in tho industrial corporation
6ald aroused Vid spread apprehension
and norvousness among holders Of So
curitics. which Was reflected IN their
bastv and heavy selling Of stocks
United States steel common was among
,b. sufferers through this movement. de
dining IN 81. on selling accompanied
Ia FalHNFfE
night na found 20 come within the
score If tho decision, an impression
which Judge Gary declared 30 hH with
on, foundation But m, principal un-
eseiness was I'm regard 30 the copper
,,,,bipatiou.. on tho many and divers"
runors concerning the progress of the
,l.rs for which Anna lgsmated Copper.
American Smelling and Refining and
,,sr,icllsrlv Utah copper have been 50
strope 81 late All we're weak yester-
dav. Utah falling more than points
from It's high. and there were persistent
r.ports that those plans would 10 laid
aside for tn present Al least, although
,,.n interested iu the project asserted
shat n would not he affected by the de-
,ision The fact was not lost sight Of
however that Congress was soon 20
convene. and that further stock market
,,,s.ttlernent might occur as conse-
ouence Of measures which might be in
,r,duccd looking 20 the investigation
of combinations Of capital by legisla-
tors whose intepst ia the subject might
ie oulckened by the decision in the
standard oil case. The Standard Oil
matter. however. is not likely long 10
,.e an active factor in stock market sen
,im,nt for it viii be months before the
sc viii he heard on appeal and prob
lily months later before the opinion ~
- highest court will be handed down;
-, wall Streets memory is short In
80 Wall street had probably forgot
-, that IN case was before the Circuit
cur, since the handing down Of the
,,.,.ision came with the shock Of a COM
80 surprise, the possibility 80 al out
-, unfaVorable 10 the present sys-
,.,, Of industrial combination having
30, hoen discounted 10 any extent v hat
90 -.
Tho MONEY market ,esterdsy showed
no change from the latter part Of last