The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1909-02-24
MARKET GROWS
STRONGER IN THE
C0NCLUD|NGHOUR
Prices Go Near to Top Level
After a Day of Short
Covering.

DN iOIbhs reD. z4.-lne STOCK
market opened in an exceedingly unset
tied state with wide price changes In
both directions. When trading began
prices of Americans in London had re-
bounded violently from the low level Of
yesterdays closing here. Some stocks
showed sympathy with this influence i n
the New York opening dealings, but
others suffered from renewed liquida-
ton.
Reading was lifted 2 points, st. Paul,
Baltimore and Ohio and Republic Steel
IN. and Illinois Central and, Pressed
Steel Car a point. The first sales of
U. s. Steel were of 5000 shares at 41h
and 41B. compared with AN last night.
Canadian Pacific ran off 2h. Northern
Pacific 2. Missouri Pacific w n Amer
lean Smelling and Tennessee Copper
about a point. The dealings were very
large and there was much confusion in
the early situation.
IL q. m.-vioient n feverish 1uc-
tuations reflected the contest between
opposing forces In the market. When
support became effective the shorts
scrambled to cover and some effer-
vescent upshoots occurred. Prices fell
back from the extreme high level, but
met buying again, and a more stable
o developed.
There were wide declines In isolated
stocks, due to helated liquidation. Erie
first preferred broke 81, Mercantile
Marine preferred az and U. s.. Rubber.
Mackay Companies and International
Pump 8. On the rebound the gain in
Reading reached 81, Baltimore and
Ohio, Denver and Rio Grande and
American Car IN, Sloss-Shefield Steel
and Republic Steel preferred TX. Penn
s~ylvania and Great Northern preferred
rs, U. 8. Steel, Colorado Fuel and At
lantic Coast Line IN and several other
active stocks a point or more. At the
end Of the hour the general list was d
fraction under the best, and Reading
has reacted IN.
Noon-The trading became quiet
around the lower level and attempts
were made to bid up prices. The rally
carried the market a fraction higher
than before, but increased offerings
were encountered n the market
weakened. Gains in Consolidated Gas
had reached 3%, Delaware and Hudson
2h, Peoples Gas ~ and Union Pacific
and Wabash preferred ~. American
Smelling yielded to 2x below last night,
Toledo, st. Louis I'M Western ~, Erie
and Southern Railway N and Reading
fell back to below 100. The tone was
irregular at noon. Bonds were irreg-
ular.
1 q. MAN interval Of dizziness fol-
lowed a rally, In which most of the
leaders touched their base prices. U. s.
Steel, Union Pacific and Reading were
absorbed in round amounts. Great
Northern preferred advanced 2 points,
u. 8 Steel az and Toledo, st. Louis and
Western preferred declined 3.
2 p. m.-The market suffered another
reaction, which did not run far, specu-
lation becoming quite dull as o as
prices declined. Toward Q o'clock prices
began to move upward, Atlantic Coast
Line rising ~, Illinois Central 8, Louis
Vile ana Nashville ~, New York Gem
trail az, Pennsylvania and Atchison Q,
Norfolk and Western and A~malgamated
Copper IL.
8 D.. m.-The market closed slightly
irregular, but near the best prices. The
repeated resistance shown to declines
by the market caused general covering
by shorts, and prices rose to the top
level of the day in the final hour.
Readings gain reached 5, Delaware
and Hudson and Republic Steel 3k, the
preferred 3%, u. g.. Steel, General Elec-
trio and American Cotton Oil 3-and
Union Pacific. st. Paul, Kansas and
Texas. Rock Island preferred, Pacific
Mail, Colorado Fuel, Brooklyn Transit.
Sloss- She fffeld Steel, Pressed Steel Car
and u. S.. Steel preferred Q to ~. There
were fractional recessions in the late
dealings.