The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-08-19
IN H WORLD OF FINANCE
LIST CARRIED DOWN
BY HEAVY BREAK
Union and Reading Cause Sharp
Movement Downward and
Market Closes Weak.

NEW YORK, Aug. Rehabilitation
was renewed on a large scale in the
stock market, and losses of between 1
and 2 were made in a number of i'm
way 2. Southern Pacific ia, Rock Island
III, Union Pacific IL, and Great North
ern ore certificates, Delaware and Hud-
son, Chesapeake and Ohio and Rock
Island preferred 1. Large amounts of
stocks changed hands and there were
sales of 5000 shares of U. S. Steel at
from 765s to 76as, compared with 1874 at
the close yesterday.
IL o'clock-The appearance of support
ing orders alarmed the short interests
and they began to cover, which brought
prices back generally to about where
they left off yesterday. Renewed liqui-
dalton, however, began o O after, and
there was another severe break in
prices. Union Pacific, Reading, New
York Central and U. S. Steel were tum-
bled on the market in round amounts
and the average level of prices sank
well below the opening figures. Prac-
tically every stock was off in the neigh
borhood of a point and the decline
reached 21a in Union Pacific, rs In New
York Central, and 2 in Reading, Cana
dian Pacific and General Electric. A
rally of a point in Union Pacific and
Reading strengthened the market be-
fore IL O'clock, but the dealings were
small on the
Noon-Trading was in very light vol
ume, but the market maintained its
rally, which amounted to 2 points in
Reading and a point or more in a
number of other cases. Professional
operators We're apparently holding off
for some further developments in the
Union Pacific situation. PETERBOROUGH
Metropolitan preferred sold a point
above yesterdays closing n American
Smelling and a few others a small frac-
ton. Lackawanna sold at an dvanc
of % points. Bonds were easy.
l o'clock-Except for unusual activity
III the local tTdcLiOH SloCho ~
ing prices the market was without es-
sential change until l o'clock, when
a sudden break in Union Pacific
dropped it to 209 again. Reading fell
back over a point and there was a
modei ate sag to the balance of the list.
Third Avenue was marked up 3 points,
Interborough- Metropolitan preferred Ia
and the common, Brooklyn Transit and
u. S. Rubber / to Ia.
2 o'cloek-The selling movement soon
| spent it's force and the market began to
harden Until the list ruled approx
mately on a parity with yesterdays
final prices. Business became quite duh
at the higher prices. Third Avenue got
up 4%, Central Leather 2 n Union
Pacific preferred rs.
3 o'clock-The market closed active
and demoralized Speculative interest
was concentrated for a while in a few
specialties, and as a result u. S. Rubber
became animated and buoyant with a
rise of 4 points, Brooklyn Union Gas
21s and Texas and Pacific and Pitts
burg Coal /.
At 2;so large selling orders were
executed simultaneously in Union
Pacific, Reading, New York Central
and United states Steel, and the list
went down at a rapid rate. The low
est prices of the day were made on
his break. Union Pacific slumped to
zoe, which was 5A below yesterdays
final price. Both Reading and New
York Central gave way five points.