Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-07
STOCK MARKET
EXTREMELY WEAK

New York, Feb. 7.-Anothcr exhibit
with the resumption OF business for the
week aet conjecture to work In the
financial district Commission houses
found themselves In receipt OF large
selling orders over the week end. The
buying demand, on the other hand.
proved languid.
Selling orders. In many cases. were
for execution at the market or with
out restriction on the prlcc. Values
crumblcd rapidly under these condI-
tions without any large volume OF
transactions.
Declines by noon had run in Ameri
can Smelling, 3s6; Westinghouse Elcc-
tric. 31k. and in Union Pacific. Southern
Pacific. Reading. Rock Island, Chesa-
peake &c Ohio. st Paul. Amalgamatcd
Copper. u. 8. Steel. American Car,
American Sugar and other less prom
inent stocks from to 8 points.
A round of the banks and other
financial Institutions failed to elicit any
news dealing with the further sensa-
tional declines In stocks. There was
general discussion regarding the trust
bill introduced in Congress this after
noon. but conservative financlers saw
ure.
Liquidation of the Industrial issues,
as well as of the standard railway
shares continued throughout the morn
ing session, many OF these securities
being offered at the market, or for
what they would bring.
-Four thousand shares of u. S. Steel
sold at 791s and 7S%. compared with
so on Saturday. Chesapeake & Ohio
fell 17s Amalgamated Copper. ~; st.
Paul, IA: Reading, Rock Island.
Rubber. 1, and Southern Pacific. Bal
timore & Ohio Wabash pfd. and Amer
lean Car, large fractions,
A precipitatc decline brought the
level or the market from 1 to 5 points
below Saturdays closing. Covering of
shorts and strong support had caused
a recovery of about half this loss
when another break carried prices to
lower basis than before. The metal
group and the high priced railroad
stocks were the weak features. Amer
lean Smelling dropped 2ss: Westing-
house Electric, 8; Southern Pacific and
Amalgamated Copper. pa; Reading,
Laclede, Gas. Rock Island and Amer
lean Sugar, 2k; Chesapeake & Ohio.
23e, and Union Pacific. st. Paul. u. S.
Steel and American Car. 2
There was brief pause in the de-
cline, but 1t was renewed and losses
were widely extended. Reading, South
ern Railway preferred. Utah Copper
Amalgamated Copper 3X: U. s. Steel
s1z, Chesapeake & Ohio. 39s, South
ern Pacific 3K Rock Island. 31s;
Union Pacific 3 and Delaware & Hud-
son. Great Northern preferred and
Northern Pacific. d. & r. G.. st Louis
and San Francisco second preferred,
Consolidated Gas. International Pump.
American Locomotive, Colorado Fuel
and Pacific Mail to 2H.
Bonds were irregular
Another resting spell did not bring
any rallies of consequence and the
bears soon returned TO the attack,
United States Steel was hammered
down to 76B. American Smelling to
TX and Amnlgamatcd Copper to 72Ss,
Indicating losses of from to points.
In the railroad section the Paclfics
were the most easily depressed. Ma
tional Lead gave way points, South
ern Pacific az, U. S Steel preferred
and U. s. Rubber 3X and st. Paul g.
There was no let up In the stream
OF liquidation, each successive dip un-
covered stop loss orders which drove
prices down further. U. S. Steel went
down Az to 75is and u. p. Az TO 1I9lk.
ed Copper, 6: American Smelling. 53s.
Reading. s: National Lead, AS.
Chesapeake and Ohio, AS: Great
Northern Ore Certs. 4; Wabash. pfd.,
3%: American Car. 31s; Chicago, Great
Western. pfd. and Pittsburg Coal. pfd.,
By. Anaconda. 81; Northwestern.
Great Northern. pfd. and Colorado
Fuel. 8; and Brooklyn Transit. 2%
The market closed excited and fever
ish The bears covered their shorts
toward the end of the day and rallied
prices between l and points from the
lowest. Buying was in large volume
OH the recovery but 1t was not fully
held. There We're some abrupt reac-
tonS at the last.
The severity of the days liouida-
tion was Indicated by the extent of the
decline. BY the middle of the after
noon Amalgamated Copper had fallen
6 points below Saturdays closing
prices, American Smelling, 5&: Read
ing. o. and u s Steel. Union Pacific,
Southern Pacific. Chesapeake and Ohio.
Consolidated Gas Utah Copper and
Great Northern Orc CTS. between
and 5.