Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-12-01
MARKET CLOSES
ACTIVE; RALLY IS
STILL IN PROGRESS
Final Hour Fresh Selling Move
ment Asserts Itself, Following
Period of DulneSs.

NEW YORK, Dec. 1.-The decision
to maintain steel prices and the re-
duction in the Bank of England dis
count rate had a stimulating effect on
the stock market today and prices
opened higher, the advance reaching a
point In Lehigh Valley and in INTERIOR
ough Metropolitan preferred. Some
realizing caused the market to case
off towards noon.
IL a. m.-Almost Immediately after
the opening the market developed a
.feverish tendency with heavy sales of
the active list. Large lots of United
States Steel, Union Pacific, Reading
and New York Central came out, some
of these undoubtedly representing
liquidation. The downward movement
was accelerated by extensive bear
operations in these and other issues.
The Gould stocks were again very
weak. All through the first hour the
market showed a lack of support, ex-
sept at marked recessions. Notable
losses were: Denver and Rio Grande
preferred 4, the common ia, Missouri
L dClllC Ia, OHlOn IdtiilC L7Br 5OQilC a.
Pacific IN, Lehigh Valley III. st. Paul
~, Illinois Central III and Northern
Pacific. Louisville and Nashville, Read
ing, U. s.. Steel, Great Northern pre-
ferred, Amalgamated Copper, American
Smelling and Chesapeake and Ohio /
each.
Noon-There was a further pressure
in the second hour and prices in some
instances went lower. Reading, South
ernD Pacific. New York Central and
A~malgamated Copper were especial
points of weakness. Business was i'll
diminished volume, however. with
some more tangible evidence of sup
port and no little covering by the short
interest. The reduction in the Bank of
England rate was wholly without eff
feet. Publication of a number of rail-
way reports for October We're of d
more or less adverse character, and
hints of future labor troubles growing
out of unsatisfactory industrial con-
ditions were factors in the decline. AT
midday a slight rally was on. but the
'undertone of the list continued heavy
and uncertain. Bonds were easy.
1 d. m.-Another effort was made dur.
ing the noon hour to ~unsettle the list,
but support wasNoffered and prices were
fairly we'll maintained, except in the
Gould stocks, particularly Denver and
Rio Grande, common and preferred
both of which sold lower than before
Trading became dull and meaningless
with little tendency in either direction
+ 2 p. m.-The market underwent an
other shaking down late in the day, but
received some measure of support after
United States Steel, Reading and sew
eral other stocks went through theil
previous low point. Trading dimin-
ished on the rebound, which, however,
only ran to trivial fractions.
3 D. m.-The market closed active,
with the rally still in progress. In the
final hour another brief period of dull
ness was followed by a fresh selling
movement. which sent prices to the
lowest level of the day..
Pressure was directed against all the
active issues, and large blocks OF
United States Steel and Union Pacific
were offered in a manner that suggest
ed enforced liquidation. The down
ward movement was arrested partially
in the final transactions, Denver and
Rio Grande preferred recovering its
early loss, with strength in the other
Gould stocks, while the balance of the
list gained substantial fractions.