Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-10-09
MARKET CLOSES
STEADY, STEEL
FELL SLIGHTLY
Crop Report Had Practically
No Effect Upon
Prices.

NEW YORK. oct 9.-Moderaie gains
were made By most ef the active stocks
at the opening Of the market TO-DAY.
Northern Paciiic was in good demand
and advanced z on the opening trans
action. Union Pacific gained 70 and
Atchison 4.
IL d. m.-The execution of some large
selling order IL the coalers. Union Fac
cifc and L. S. Steel forced prices down
sharply. Reading fell back 2h points,
Union Pacific ia, Lehigh valley l3s
and Atchison and L. S. Steel l. Prlces
generally were we'll under Saturday S
closing, aside from the Southern group
of railroad stocks, which were CON
spicuously buoyant, Louisville ana
Nashville raising 1@. American Beet
Sugar, which had risen a point to bfA,
receded TO Sc, and there was further
liquidation in Allis-C Chalmers preferred.
which cost it "a.
Noon-FoIlowing a brief period of
fairly active trading. movements OF
stocks during the morning were unlm-
portant. After a moderate rise at the
opening and a subsequent decline, the
market gradually recovered it's losses
and established itself at about even
terms with Saturdays close. Reading
did not recover with the general mar
ket. It's weakness was associated with
the approach OF the Supreme Court
hearing of the anthracite case. Z. 5.
steel was sold on the strength of a re-
port that the department of justice was
at once to file a suit for dissolution of
the corporation, but the stock received
effective support and made a full recoV-
cry. Bonds were easy. The usually
active issues We're slightly lower, and
there was a fall of IA in Allis-Chal-
mers IS.
| p. m.-Another spasm of weakness
in Reading, which sent it down to
1861, influenced selling elsewhere, and
the whole list returned to about the
low figures of the forenoon. Rather
definite statements that the Allis-Chal-
mers Company was not earning enough
to meet its fixed charges explained the
continued weakness of this security.
The 3 per cent. bonds sold down to SIS.
The Copper producers monthly state
ment showed an increase of 7,455, $50
pounds In stocks on hand. but an in
crease in foreign consumption of over
SIS, 000. 900 pounds.
. p. m.-Stoeks of the Southern
railroads continued to move up in re-
spouse to the outlook for largely in
creased tonnage by reason of the ex-
pected bumper crop report. Louisville
and Nashville was buoyant, the rise
arousing talk of an extra dividend IN
the stock. This stock jumped AS to
14T. Atlantic Coast Line 4, to 1878, and
Illinois Central is. The strength in
this quarter had a sustaining influence
or the general market. and prices else
where rallied slightly. Reading. how
ever, hung close to its low level.
8 p. m.-The market CLOSED steady.
Publication of the government monthly
crop report was of no influence on
prices, as it was in line with eXpecta-
tons and displayed no essential change
from last months condition in either
wheat or corn.
Union Pacific and some of the
grangers showed increased ffrmness
and there was a resumption of pool
operations in some of the minor
specialties, under which American Can
preferred gained nearly . points.
The international Papers and Inter
national Pump stocks lost severely on
light selling orders. United States
Steel encountered large blocks of stocks
after crossing 50 and fell back slightly.
Reading continued it's sluggish move
ment and closed with a substantial net
loss