The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-08-27
BRISK RISE IN
union At CLOSE
Reading Also Advances in Final
Trading Following Day of
Uncertain Movements.

NEW YORK, Aug. 27.-The opening
cided contrast to yesterdays weak
closing, this mornings market dis
playing buoyancy on heavy purchases.
Southern Pacific rose "a to 12sh and
Union Pacific Ia to 1897 and the pre-
ferred Ia. The Hartman group made
the largest gains. Northern Pacific
was up III and Reading. Peoples Gas,
U. S. Steel preferred, Atchison and
Erie a point. A factor in the strength
Of the market was the advance in
Americans In the London market.
II a. m.-Union Pacific and Southern
Pacific went fractionally higher in COM
mon with the rest of the market be-
fore the selling, orders became heavy
enough to drive Union Pacific back
rs, and Southern Pacific liz The list
made a fresh start upwards when the
selling orders had been cleaned up and
prices generally went above the
previous high level. Union Pacific
touched 2001a, a rise of 2lz, n the
rest of the market was up between l
and 2 points. New York Central, U.
S. Steel and st. Paul were taken freely
on this movement. The Southern group
of stocks were rather heavy, n Della
ware and Hudson lost IL. Before II
O'Clock the market began to yield
again under the influence of a reaction
of ~ in Union Pacific.
~Noon-After a long period of dulness
in which prices moved aimlessly the
bears got the upper hand and pushed
some of the important stocks below
the low prices of yesterday, notably
Reading, New York Central and the
L. S. Steel stocks. In general the list
was driven back to about a parity
with the final prices of yesterday.
There had been a considerable contest
going on with large bull and bear in
~terests to control the market, and con-
siderable stock changed hands on the
decline. Northwestern fell 2 points be-
low last night and Louisville and Nash
Vile and Atlantic Coast line 1. Bonds
were irregular.
/ o'clock-The selling movement
spent its force o after II o'clock
and there was an irregular recovery,
which reached Ia in Union Pacific and
a point in a few other stocks. Buying
was very scanty on the way up and the
market grew progressively duller as
prices got higher.
2 o'clock-The shorts had an uneasy
time of it when the market began to
reflect strong bullish manipulation.
Large buying orders were executed
simultaneously in all of the leading
stocks, which converted an otherwise
lethargio market into one of pro-
pounced activity and strength. The
top prices of the day began to be made
as the market responded to the buying
for both accounts. Union Pacific and
Southern Pacific were quoted 8 points
above yesterdays closing. Consolidated
Gas, "a; u. S. Rubber, 215, and St
Paul. New York Central, National
Lead, American Smelling and Inter-
national Pump, 2 to PA. The high
prices were attractive to the room
traders and they began to sell out,
causing a relapse of a point in some
issues. y
8 o'cIock-The market closed irregu-
lar. Union Pacific mounted again to
2e1A, but it did not remain at the top
long. for after a series of irregular
movements it finally went off to 1879.
Its effect on the general list appeared
tc be waning for a while, and there was
a heavy accumulation of u. s. Steel,
which. brought 1t up to the highest
prices of the day.
Later on the entire market was I'M
dermined and prices went off rapidly,
Southern Pacific falling 2 points from
Its highest n Reading. St. Paul,
United States Steel, New York Central
and some others a point. In the last
few minutes there was another brisk
upturn to the Hartman stocks and
Reading.