Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-02-23
STOCK MlRKET
MARKEDLY WEAK

Steel common cold on rs on heavy
trading at the outset. latCr adding .
H. decline United states steel pre-
ferred also was heavily traded in and
D sold on almost 9 points ia the initial
Z trading There also were heavy loss
/ as in Republic Iron and Steel cons
I mon and preferred, Colorado Fuel a.
| Iron, SlOss- Sheffield Steel Amalgam-
/ atod Copper. American Smelling, Ma
| tional Lead, American Locomotivcand
! Consolidated Gas. In the railroad
! list the losses were less severe, all
| though extending TO "a point in Erie,
/ Chesapeake a Ohio. and Reading. The
/ list showed further weakness later, but
! with evidence of support In the rail-
| way group.
During the noon hour the stock
] market suffered another severe de-
| cline in prices concurrent with ad-
] vices from Washington that the Unit
/ ed States Supreme court had rendered
] a. decision against the New York Cen
/ trail railroad IN the matter OF the all
/ legged rebates TO the American Sugar
| company.
United States Steel common sold as
! low as 42#, n loss from Saturdays
I closing al 8ss points Reading was 80
| points below the opening and the Harri-
man stocks as well as the general active
/ list fen TO a lower level.
Trading during Monday was in very
heavy volume and bore the marks Of
! forced liquidation.
The market showed signs Of demon
alization during the afternoon, violent
breaks in prices occurring in many Sc
curites Fear of adverse decisions ~
the United states supreme court In tbs
coal roads and commodities suits were
Increased By tho decision IN the New
D A
Der Of stocks which have made extreme
advances later relapsed pcrceptbly
The drop iu Reading reached 3 points,
Delaware Lackawanna & Western New
Y0r AZ. and many other stocks 3la 60
points.
The market opened in an excited con-
diuon, owing to the heavy declines IN
the prices of Americans I'm the London
market during Yesterdays holiday In
New York. The metal industrials were
most affected as @ result Of steel
trade conditions. AS compared with 46
for United states Steel on Saturday az
the close. there were sales OF 1900
shares at Che opening az 44A and 4lba,
and the price subsequently, touched
f41s. Colorado Fuel broke pa points.
SIuss- Sheffield Steel .. Republic Steel
preferred 41a. AmalgaT1ated Copper and
National Lend ias, United states steel
preferred lss. and American Smelling
las. In the general list, Reading. Wa
bush preferred. Erie. Chesapeake a.
Ohio. Consolidated Gas and Tennessee
Copper were down point, and the MAJ
j0rity Of the most active stocks showed
large fractional losses.
Liuuidation was unrestrsuned On the
United states Steel stocks, large Of
feriugs forcing their prices down
steadily. until the common sold 27s and
the preferred 2a below Saturday.
close. other metal stocks also w ak
oued I'm "a similar manner but the rail-
road list aside from the Gould stocks
aud "a few others. was much less ar
fccted Federal Mining dropped l0ia,
Republic steel preferred, g. Central or
New Jersey. 3. National Lead, 3; Third
Avenue, 2ih; American Car prefer ed.
23s. Texas g. Pacific, Delaware q Huo-
SON. Great Northern ore Certificate,
Utah Copper and Amalgamated copper,
?. Chesapeake g. Ohio, Missouri Pacific
and 81. Louis Southwestern preferred.
Ia: Kansas 81 Texas and Kansas city
Southern preferred, lts, and MINI app
Oils. ST. Paul g. Sault Ste Marie, west
em Maryland. Union Pacific and Great /
Northern preferred, ia
The bears were inclined to reduce /
their short lines at attactyo lower (
levels and their buying rallied prices. I
lfHnls NlhaAlA a0aE ~ AN CT tnttAtil N.sAl n J
price. American Car, ls international /
Pump. ]. and many other stocks re- /
covered 10 the Saturday level or above. ]
At a rally Of e In United States steel
the demand Ter that stock died out and I
tho whole market came almost t1 n
standstiu Thoro was decline % 3A
in Wostin ZEouse Electric, chicago &
Alton, Pittsburg G. G. e st. Louis,
Cleveland, Cincinnati. Chicago St
Louis and American Linseed preferred
lost rs to 22,.
Bonds were easy.
Wholesale liquidation ol Reading
started a general unloading of other
stocks and the market broke badly.
United states Steel extended lts loss
% 3as touching 42s. Reading gave
way Az, American Cotton ga, Dele
ware a. Hudson. Chesapeake a. Ohio
ana American Smelling 3. Northwest
oru. Texas q Pacific and AmHlRam-
lted Copper ga, New York Central,
Kansas So Texas and Rock Island pre-
.errod 2b, ana Wabash preferred and
Atlantic Coast Line @
The standard railroad stocks. not
ably Union Pacific. Reading and New
Yorl, Central bore the hrunt Of the hate
selling Republic steel preferred de-
'liued ,as. Reading 6S Great North
era one certificates aud Westinghouse
Electric "a; Delaware g. Hudson. and
ftI|DI ~ 1910 AldHHtt AAls MHnaaN
preferred 4h. kansas g. Texas. Union
7alla. and National Lead a. New York
Central Pressed Steel Car and Anne
Ucamatod Copper 3tk. sugar az.
smelling ga, So Paul 3. international
Paper preferred 2h and Southern Pa
.llD 2a.
THE market closed weak and d.sui-
laIly. There was heavy covering
among the shorts in tho nual hour and
b rally resulted that ran 20 q point n
active stock. A renewed break Iu
Beading which carried it down lUis ta
.le. unsettled thC market again. AuIe-
chalmers. pfd. broke 60 Delaware
y Hudson Gia. National lead. 5a. ana |
Sow york Central Rock Island. pfI.
Atlante Coast Line, Illinois Central
chicago g. Alton, ChcsapaaEo g. ONO
Big Four Great Northern pfd. sugar