The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-09-26
SELLING
ON STOCK MARKET
Union Pacific Was Object Of
Particularly Heavy Pres.
s~ure-Reading Lost

tenslVe movement OF stocks which
Wall street has known since the long
downward movement began early last
month occurred today. The selling
was not concentrated 90 largely on
United States Steel az during last
weeks u%pheaval. but extended through
the entire active list. Prices gave
way In every quarter and the losses
of many OF the leading issues ranged
from four to six points. In the late
trading 1.-The market developed pro-
nounced strength. and stocks rose a.
most az abruptly as they had de-
clined. Tho end Of the session found
losses greatly reduced.
Before noon. 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 Of the
year. Union Pacific. which was tho
object Of particularly heavy pressure,
broke SIS to 1853 la. Reading lost
five. st. Paul four. Northern Pacific,
Southern Pacific. Canadian Pacific,
Great Northern preferred and Lehigh
Valley four or more. Among the in
dustrials the metal shares were e.
pecially weak. Selling Of United
States Steel was extremely large. al
though Reading and Union Pacific
were thrown on the market In almost
4 6-S. Amalgamated Cpper LIST AIS.
as heavy amounts. United States
Steel's low point was 81 5-S, q decline
Of ass. Anlalgamated Copper lUrt
4 is, American Smelling S1-4 and
Anaconda 8. American Beet Sugar.
American Cotton Oil. Virginia Caro-.
lima Chemical. National Biscuit and
United States Express broke four
points or more.
Attorney General Netherlands in
tinlation that q tentative plan for the
dissolution and REIMBURSEMENT Of tbs
American Tobacco company has been
agreed upon was the signal for the |
recovery. The upward movement be-
gan in tho American Tobacco sccuri-
ties. On the curb" the common
shares rallied fifteen points. The pre-
ferred rose from 81 to SO 1-2 on the
stock exchange and both the four per
cent and six par cent bonds scored
goad aesances.. Tho movement sx-
tended to the remainder of the mar
ket and before the close the bidding
became spirited. Recoveries ranged
from two to four points. United States
Steel and some Inactive stocks closed
with only fractional Losses.
1t was limited that the government
was about to- i bring proceedings
against Other. large. corporations. The
uncertainty which prevailed every
where was perhaps the more battling
and disturbing feature. and there ap-
to be little hope Of settled
until some definite inidca.
ton was obtained as to the position
Of the United States Steel corporation
and other large concerns under the
law as nov construed.
Reports Of the progress Of trade in
dicated little change, except an I'M
Of traffic on some Of the
western roads. A loss in gold hold
ings Of more than $4,000.000 was re-
ported by the bank Of Germany In its
statement. The amount Of
capital withdrawn from Ger
many in the last two weeks was esti-
mated at $500, 000. 900.
Transactions in stocks amounted to
1,449.80 shares. the largest total
since June 80. 1910.
Bonds also were very active. Prices
were depressed sharply, but there was
recovery when stocks rallied. Total
sales Of bonds par value, $4,205. 000.
United States government bonds were
On call.
O~Akn> N1~~lh>A |