The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-11-20
New York Stock AIarket.

Wall St, New York, Nov 2O-STOCKSA
depression in the London market and
pressure against United States Steel and
the wabash issues combined to weaken
the stock market during the morning
Caolng, the demand was not large and
prices gave way generally, although the
railroad division withstood the attack
more successfully than the Industrials.
snort covering and the evident support
Tor the railroad shares were effective in
turning the market upward after the force
OF the selling movement had spent itself
After some brief periods of hesitation
the market began to improve more sturd-
lily in the second hour. Copper stocks
were purchased on steadily rising scale,
Copper and Utah Copper gaining point.
reports that some of the leading interests
were asking 13 cents a pound for the
product encouraged professional buying
of the group Union Pacific was pushed
across ia but the operations in Standard
Railroad stocks were In smaller volume
than for some time. Various specialties
seemed to present better trading possibili
time being. United States Steel made up
the major portion of its decline but the
rest of the list in common with this stock
became quiet on the rise.
Bonds were Irregular with Wabash As
weak.
Bear operators kept hammering special
stocks, notably st. Paul and United States
Steel Blocks of thousands of shares of
United States Steel were sold down to
62&. Short selling and some liquidation
were based on the resumption of the
hearing by the Stanley committee. Rail-
road stocks in general showed some sta
bility after the initial weakness. Before
the first hour had expired Union Pacific
had made up its loss and Reading and
Lehigh Valley were ruling slightly above
Saturdays close
Copper stocks were benefited by i'm
provement in trade conditions both here
and abroad.
Heavy selling of the leading speculative
stocks unsettled the market at the open
ing today pressure most severe
against United States Steel which was
forced down a point Union Pacific and
American Cotton Oil also lost point,
wabash preferred q, Wabash common rs
and Western Maryland, Great Northern
preferred and Great Northern Ore cert11l-
Gates H. the Wabash As declined a point.
Increasing strength was shown by
stocks despite the gradual contraction
in the volume of business Reading sold
point over last weeks close and Lehigh
Valley nearly as much. Union Pacific
touched 1745s compared with 173 at the
outset Western stocks generally were
neglected but averaged a trifle above last
weeks figures. Amalgamated Copper
lost II of it's forenoon gain on profit
taking
some selling in the late afternoon and
there also was a moderate amount OF
profit taking Union Pacific lost all of
its advance United States Steel came
back to near the lowest and there was lit
tie left of the rise in Reading and Lehigh
valley. Some of the Southern stocks
were strong, Atlantic Coast Line improv-
ing l and Louisville and Nashville and |
Illinois 11z.
The market closed weak. Weakness de- |
veloped in the Hill stocks and the whole |
transcontinental group became affected |
United States Steel also was sold freely, |
touching 623s and other important stocks i
sagged to the lowest of the day.