Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-08-20
HEAVY LIQUIDATION I
IN STOCK MARKET

y. "a tilfg 3 & ~ ~
New York, Aug. as-Another spasrn Of
IN the first hour. today on enormous
dealings. Prices of the more active is
sues, such as the Hartman stocks, Read
Ing, Illinois Central, United States Steel
and American Smelling declined from Q
-four was intense and the stocks were
thrown over at whatever prices they
would bring. Z,
Aside from further rumors regarding
the health Of L. ii. Hartman, no news
sationals decline. Low prices of the
morning effected losses ranging from
3 to IS points below the high level OF
last Monday morning.
Tho stock mnlttet opened irregular
but with the stocks which showed the
great est 3WenkrJ.ss ytbterdlys scoring
gains today. OF these NeW York Cen
5titll was up X Reuo,ng and south
On the other hand, American Smelling,
Great Northern preferred ind Rock Is
land were forced down a point. Union
Pacific opened at 1854 but met some
ut got back 10 its opening figure.
There was IA iolent5 break in the mar.
5ket soon after the opening under the
influence 4of a bear raid, mfsgivings as
ttllu flllC
manifest lack of support to the recent
speculative fuvorites Union Pacific
dropped to 21i, United States Steel to
1874 and Southern Pacific to 100 "a. New
York Central and Reading, which had
scored early ADVANCES of w each, broke
from 14lA. to 1879 and 15si4 to 155 Is re-,
sspectively. Supporting orders made their;
appearances when the decline began to,
eral rally OF between II and . points.
New York Central recovered to 140.
Reading got above 15S and Union Pa
Gific got back to 306.
The marked showed some feveriShness..
Reading and Union Pacific fiuctuating
in the neigiiborhood of Il point. Consid-s
cradle stock changed hands in the early
break, the sales for the first hour run;
ming above d half million shares, I.o-3
cal stocks We're marked up vigorously,
United States Rubber advancing above
last night. Third Avtnue 31s, Consoli-
dated Gas IN and PETERBOROUGH NJ etro-i
lset was on the down grade again.
Reading, Union Pacific and United
States Steel being under decided pres.
sure. u
Bonds were heavy. &;
Large amounts of stock were offered.
for sale after noon which caused a re-
lapse to the lowest prices of the morn
ing in Union Pacific, and United States
steel Reading sns sold slightly lover
not SO much affected and ruled anywhere
from X to points above the early
How figures. Support was met In Union
Pacihc at 9o4, and It rallied point
as did also Reading. At O'clock, how
ever. liquidation was renewed in Union
Pacific, and it's soon declined to 203A
The market was ldept in rather
nervous state by the frequent wide
fluctuations in Union Pacific. That stock
broke again at 203A which was 81 below.
where it left off yesterday. Sym
pathetic selling was in large volume
in all quarters of the list and one
transaction of note was the sale of
5000 shares Of Southern Railway at 30
Indications of support and some demand
from the short Interest," caused brisk
rally afterwards which carried many
I4stocks up from 2 to 2ia above their low
prices OF the day. Union Pacific. re-.
covered to 206S4, New York Central
ltrnled about a point above yesterdays
|sclosing st. Paul and Reading on a
parity and n number or other important
stocks within a fraction.
| The market closed active and strong.
|}Consistent support afforded the market
| In the closed hour alarmed the short
interest and they rushed to cover, put
Ling prices UP on themselves steadily.
| All OF the earlier losses were. wiped out
4 and such previously weak features as
tzUnion Pacific, Southern Pacific and Y,
4 st Steel showed a slight gain over last
| night, while Reading, st. Paul New
4 York and malgamated Copper were up
/ a point or more.