New-York tribune., 1910-01-26
STOCKS HARD HIT
arr ; TO 6 POINTS.
s,rket Suffers Worst Break
e;noe Harrimdn's Death.

~.verest break in prices which the
la laa,ket has suffered since the death
hartman last September occurred
sE.,~ when on enormous trading. the
rss' .,talling SIS, ss2 shares, the largest
s's yyne last, except for the day on
81. re Columbus and Hooking pool col
sa.-" ,ccu-red a fortnight ago, prices all
- the list declined 70 points each.
-. chief cause for the break was the
t-.,s,sion created by the mornings dis
Ffss from Washington OF the alleged de-
N.-s-jon OF the administration 20 begin
= r-oceedings against many OF the great
srh.,stsers of capital. an apprehension ef
~ quick advantage was taken by the
= who sold stocks short in heavy vol
.<-.r tse weak opening. which IN the
~ a number of active issues was at
-.g,es Of more than q point from Mon
AIS final figures.
- .he decline, which had as one OF its
N-,s5,ste causes the calling by the banks
l,s-s on several Of the pool stocks, q
=. number OF stop loss orders were
-..sd and the volume of the trading was
.-.her sweIed by the closing out Of ac-
.-,-s ot traders whose margins had be-
-. exhausted.
I. rss nearly noon before a check came
.ss selling movement. and the news at
..,rt ! clock Of the Presidents denial OF
-.-s,'euts which might be taken 10 indi-
=. ,ast there was TO be "a new departure
- an iui.scrimiaate prosecution OF i'm
-.-.a-t industries had g reassuring effect,
-.,oa was reelected II a market rally under
..,cb some stocks recovered about one-half
= ghsf- early losses
number CT the leading issues. however,
.,-,,sd their low point of the day, which
-.s also he low point OF the year, in the
,s, half hour. among them being Reading
~.,b was under pressure from the outset
: minors that the government would take
steps against the anthracite coal COM
,nsrson. and which closed with a net loss
= points. al 154s4; Amalgamated Con-
-r which closed AT ia. against S2r5 on
v,,5sy: American Smelling and Refining,
-+,,h had Z maximum decline OF 81 points
- 3 net loss OF as: Union Pacific, which
s.s.ug a. 10 on the preceding day, reached
4z, in the last few minutes, rallying
ss-nlv 70 1872 at the close. a net decline
s. voints. and New York Central, which.
~ Pennsylvania, had ruled relatively
- during the session and which lost only
: voiats On the day.
rsei common the transactions IN which
-.-essnfed more than q quarter of the
-ss business. touched its low level Of SIS
,rs-e noon. ard closed az so, net loss
- points Consolidated Gas was esre-
-slv weak. following President Cortelyou' $
-,rznent 70 The stockholders. declining 10
la.. against Mondays closing price Of
x En6 closing a. 1411. loss of 81. points
he stock market has been declining
t-.s the early part Of this month. and ac-
-q-sing TO some observers the principal
sling has been by large interests. who
,.rk alarm zt President Taft's special mes
ssFe Of January :. in which he announced
"a intention Of investigating the history,
--snizstior and purposes OF all the indus
nsl companies with respect to which
rasre is any reasonable ground for sGs-
rlcun tnst fney have been organized for g
y-rpas4 en6 are conducting business OH n
pan which IS in violation Of the antitrust
sw"
The extent Of The decline from he close
~ January 6. The day before the issuance
n the MASSAGE, 70 tla@ ;o~ point yesterday
is indrstsd n the following tahls: