Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-03
FLOOD OF STOCKS
BREAKS PRICES

New York. Feb IA flood of stocks
was poured into the market with the be-
ginning OF business today and caused
violent break in prices. Tho declines ran
from a large fraction to a point In prac-
ticaly all of the prominent Issues ex-
cept Reading. which was run up Z. Unit
ed States Steel sold at S)ii to S03. com
pared with s07s last night for 1909
shares. Denver & Rio Grande broke ~.
American Cotton oil pa. Wabash pre-
fcrrcd and Big Four ia. American smclt-
Ing TX and Chesapeake * Ohio. Rock
ISlnnd and Allis-Chalmors preferred IA.
a fractional rally followed the open
ing sales
s. Steel, Amalgamated Copper and a
few other stocks back 10 yesterdays
closing level or slightly above.
A fresh outbreak OF liquidation in tho
market slumDed badly again. United
states and Union Pacific sold at the
lowest of the year. tho former at 1913
and the latter at lS3ie. American Cot
Leather preferred ga, Westinghouse
Electric 2ia. Western Maryland certln-
Gates rs. U. ). Rubber. National Enam-
cling and international Paper preferred
H. Z and the rest of the list from ! to
Kansas & Texas preferred advanced IL.
Efforts were made TO sustain u $.
Steel above 80. When IL broke through
that price TO 7SS it was signal for
wholesale liquidation in all parts OF the
list. Tho leading speculative railroads
and Industrial stocks all broke from
TO points and In special stocks losses
were even more severe. Vulcan DEFINING
preferred lost -. Wells-Fargo Z. Met
ropoiitan Street Railway 5. American
Hide and Leather preferred and Federal
Mining preferred AZ. Westinghouse
Electric. U. S. Rubber and American
Car 4. Denver & Rio Grandc and Ameri-
can Smelling SSs and Consolidated Gas
ga Fcverish rallies of a fraction to over
q point were poorly held and the tono
remained much unsettled at noon.
Bonds were weak.
Prices broke TO new low levels dur
irg the noon hour when u. S Steel fell
TO IS and Union Pacific TO lSi7s- Read
ing. after showing resistance. gave way
37a. other losses were Allis-Chalmers
preferred Z. American Smelling 6ss
American Locomotive. American Cotton
OF and Utah Copper Az American Car
AZ. Wabash preferred Az. Chesapeake *
Ohio, Reading second preferred ana
Bethlehem Steel preferred I. Louisville
&c Nashville and Delaware, Hudson
3N, and Peoples Gas. Distillers' Securi-
ties and National Lead 3}5. There was
another pause In the liquidation before
the hour expired.
Despite n determined drive against
Amalgamated Copper. which sent II be-
low 76, and scattered liquidation In less
active stocks. the list made progress up
ward. the rally reaching a point in
many instances. Trading. however. was
much reduced on the recovery. Della
ware 6 Hudson and American Hide and
Leather preferred sagged 5h. u. S. Rub
Der 5ss and Pressed Steel Car AZ.
The market closed strong and animat-
ed Another drive reduced Still further
the level of prices. but this was followed
by rallies showing more yigor than pre-
vlously. United States fell 3b to ~.
Union Pacific and Southern Pacific 3s
Missouri Pacific 81. National Lead AZ.
Westinghouse Electric .. American Hide
and Leather preferred ga American
Smelling. SIS and Central Railroad of
New Jersey To- Rallies ran from to
nearly points for most of the active
market leaders