Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-08-25
Opening 4 I \
CLOSING STRONG

Nav. " ork. "a uE. u.s. The stock market
! opened weak today on ur fayor'a PIE ID Y 4
terpretatians of the reports q 4; y ls s.
Harrirnafi's health and disap ointment 's
over his interview. II in which he lno 70 II
Gated it to be his policy to MAINTAIN
present diyid ends and extend Ils g t ille
| properties rather than to increase 4 I'M
tSnediately the returns to stoclshoi ders.l
The Hartman ailroads. New York 'k
Central, Erie and Reading we're con- s.
spicuously weak. with declines OF u
point or more.
( The general list followed the ten
dency of the leaders. After the open!
ing, declines the market steadied some
what and there were rallies in several
OF the representative stocks.
! Before the end of the first hour fur
| Their weakness was shown by the Hair
rinlan stocks and Union Pacific sold SIS
| belaw yesterday S closing ard Southern
Pacific q Reading WAS sold extensively
at a decline Of over 2 points, IN the
second hour there WIS some recovery,
but on a reduction OF opera tions
BY noon further losses were recovered
ltllroughout the list. Commission houses
With out of town connections were ac-
tive during the morning session. Al +
rally was a a. lower level. The sales
of the morning session amounted to
fully 800, 900 shares. " III
Efforts to hold prices We're futile until
late in the afternoon, when strong in
terests began to show their hands
Room traders quickly changed front
and began to buy stocks eagerly. The
shorts also got busy and bid for round
amounts of most active features and
losses were reduced to moderate frac-t
tons 3
The stock market opened weak With
some large sales of the important is-s
sues Union Pacific sold at from POS to!
207ass, compared with 209ss, yesterdays
closing, and U. S. Steel showed a loss
of "a point Reading and Southern Pa;
Scific We're depressed LIZ, and Union Pa
cfffc preferred. ST. Paul. Erie and Amer
lean Smelling and Consolidated Gas
a point. e.
After the first rush Of selling orders
the market became quiet and prices
Infatuated in a narrow fashion until
near II o'clock. when there was another
violent decline Union Pacific and
Reading bore the brunt OF the selling,
the former giving way 3as In all, and
touching 2G6A The preferred stock.
Reading and Southern Pacific yielding
points and Louisville & Nashville
and Arnalgamated Copper 1.
"A subsequent rally OF a point in
Reading had a steadying effect but
trading was very small on the recovery
Inability of the bulls to bring about
a rally when the selling stopped en-
Outraged the bears to attack prices
furiously again, and a number OF pro \.
fessionals became changed on the short
side. Considerable stock was thrown
on the market from all quarters and
prices were beat down steadily with the
Hartman stocks.S New York Central
and Reading the storm centers. Union
Pacific slufnped over five points to
2041s. the preferred II, New York Cen
trail 31a and Reading 3lt. and Northern
/ Pacific, Louisville 4 Nashville, Erie
and st. Paul or more.
Bonds were heavy,
& BY the time Union Pacific had got,
down to 204is supporting orders began
to make their influence felt and the best
rally OF the day occurred. Union Pa y
Gifts, Reading and New York e,antral
recovered a point, but the. market be-
came ullat the recovery. al
The market showed such stability on.
last rally that outside orders com
menced to flow in and prices rose
brisllly on effective dealings. Union
Pacific rose 2 points above its low
est, Reading ~ Southern Pacific and
New York Central Ii and the list
generally a point.
The market closed easy Another
setback was checked before it had
made much headway and the rise was
resumed. Room shorts bought extern
sively and there was also a brisk in-.
qufry for the long account. The list
ruled from ! to "a points above the
lowest, reducing some of the losses to
fractions Union Pacific, Reading and
New York Central were the best gain
ers. Heavy buying Of American Smelt-
ing carried 1t III above yesterdays
finals, and pulled up the other metal
stocks broadly. In the late dealings
there was renewed profit taking which
caused a. loss of over q point in Union.
Pacific,