The Birmingham age-herald., 1911-09-26
PRICES GIVE WAY
 IN STOCK MARKET
Losses in Many Trading
 Issues Range From !, 4 to 6 Points

New York, September 25.-The most extensive decline in stocks which Wall street has known since the long down ward movement began early last month occurred today. The selling was not concentrated so largely on United States Steel as during last weeks up- heayal. but extended through the en- tire active list. Prices gave way In every quarter and the losses or many of thes leading issues ranged rom to points. In the late tradlng the market developed pronounced strength and stocks rose almost as abruptly as they had declined. The end of tho session. found losses greatly reduced
 Before mid day the selling increased to enormous proportions. Orders to sell flooded the market which broke precipitately. Almost all the leading issues fell to new low, points for the year. Union Pacifis, which was the object of particularly heavy pressure broke SIS to 1531R.
 Reading lost 5, St~Paul 4, Northern Pacifis, Southern Pacifis, Canadian Pa cific, Great Northern preferred and Le- high Valley or more. Among the in-
 
 cially weak. Selling of United States Steel was extremely large, although Reading and Union Pacific were thrown on the market in almost as heavy amounts. United States Steefs low point was 511s, decline of 5s. Amal- gamated Copper lost 41s, American Smelling 3iz, and Anaconda 3, Amer 1can Beet Sugar, American Cotton OH, Virginia Carolina Chemical, National , Biscuit and United States Express broke points or more.
 Attorney General wickersham's in- tlmation that tentative plan for the dissolution and readJustment of the American Tobacco company has been agreed upon, was the signal for the recovery. sf.slz
 The upward movement7begani in the American Tobacco securities. On the curb the common shares rallied 15 points. The preferred rose from 91 to 9S1s on the stock exchange and both the per cent and per cent bonds scored good advances.
 The movement extended to the re- mainder of the list and before the close the bidding became spirited. Re- coverieS ranged from to points United States Steel and several in active stocks closed with only fraction al losses,
 It was intimated the government was about to. bring proceedings against other large corporations, The uncer- tainty which prevailed everywhere was probably the more baffling and disturbing feature. There seemed to be little hope of settled conditions until some definite indication was obtained as to the position of the United States Steel corporation and other large con cerns under the sherman law as now construed. sAss A# M a
 Reports of the progress of trade in-. dicated little change except an i'm provement of traffic on some of the western roads. 4 loss in gold holdings of more than s4,00O,00O was reported by the Bank of Germany. in its weekly statement. The amount of French cap ital withdrawn from Germany in the last two weeks was estimated at s200,- poo, 0,000. s4
 Transactions in stocks amounted to 1,449,80O shares, the largest total since June 30, 1910.
 Bonds also were very active. Prices for bonds were depressed sharply, but there was a recovery when stocks ral- lied. Total sales of bonds, par value, s4,2O5000. United tSates government bonds were unchanged on call.