The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-11-10
New York Stock Market.

Wall St, New York, Nov. 10-STOCKS-
The decision of the commerce court pro-
posing a reduction in freight rates
strengthened the railroad stocks today.
There was heavy buying of the western
railroad stocks which made the best gains
The initial trading in Union Pacific CON
sisted of a lot of 5000 shares at an ad-
vance of point. St Paul gained 2: Chi
cago, Great Western preferred IL. North
ern Pacific 13s, Great Northern preferrad
IA and Southern Pacific and Pennsylvania
l. Trading in the industrials was less ac-
tive, except in the case of United States
Steel and changes were small and irreg-
sale of II 600 shares at practically the same
price at the close yesterday. America n
Tobacco preferred gained q.
Spectators hammered the market yes
terday thereby aided by talk Of congested
facilities at Buffalo. Large export clear
ances and cash wheat and flour sales,
strong with December at 9414c, a net loss
of sc.
The market closed irregular. Bull OPP
orators made a final demonstration in the
closing hour and marked up prices to the
highest level of the day. Trading was on
large scale and various stocks were lift
ed substantially. These embraced the
Copper group, some of the grangers and
a few of the low priced industrials. The
coal stocks established considerable high
er prices Central of New Jersey sold at
3V compared with its previous price of
2S0- Reading mounted to 1881 and United
States Steel to 65ss- Union Pacific and the
Wall St, New York, Nov. 10.-STOCKS-
Stocks accumulated from the recent adj
vance were sold in large numbers today;
for a time the market able to with
stand tn effect of the selling, owing to
the counter influence Of the commerce
courts action in the freight rate case but
before the day was far advanced prices
began to weaken and the list becam fever
ish
Announcement of stock exchange fall
ure and severe liquidation in some of the
gold stocks on unfavorable rumors pre-
cipitated heavy selling for both accounts
in the second hour. Only a few issues,
Lehigh Valley and st. Paul, held above
yesterdays closing point, the remainder
selling from a fraction to points below
Wabash preferred. slumped points, the
per cent bonds 29s, Missouri Pacific IA,
American Smelling, Brooklyn Transit,
Consolidated Gas, Canadian Pacific, Del
aware nd Hudson, Erie the first preferred
a point Lackawanna was up 10 points
and American Cotton OIL preferred s and
American Wooden down 3. The decline
eliminated when Lehigh Valley was lifted
III but the response elsewhere was 1eble
and the market sank back again.
Bonds were irregular.
Secondary prices were lower. the market
reacting sharply under a flood of profit
taking sales. st. Paul fell back ~ and
other active issues from half a point to a
point. The Hill group. Reading, Steel,
Copper and Lehigh Valley, led a rally in
which those stocks rebounded to a new
high level; but there was continuous sell
ing in other quarters which kept the mar
ket feverish. Missouri Pacific, Wabash
preferred, American Cotton OIL, American
Smelling and international Harvester were
forced fractiona11y below yesterdays clos |
ing At IL O'Clock the whole market was
on the downward grade Union Pacific,
Reading and United States Steel were rul- |
ing a trifle below last night and some 9TH |
er leaders were on a parity
An increase of about $4,000 tons over !
last month in the untitled orders of the /
United States Steel corporation was with |
out influence. The general market later 4
on responded to the rapid bidding up of /
.eihigh Valley which sold points beyond /
closing. touching 1863. Read /
Ing rallied from 1875 to 1914, and there |
were recoveries of a point from the low
est in Union Pacific, United States Steel /
and American Smelling.
Unusually heavy buying Of Lehigh Val |
ley whsch sold at 1874 against 1745s, yes
terday'ss closing was attended by rumOrs Il
Of a large extra dividend. This was de- /
MED by Philadelphia interests; the general |
market did not follow up the rise in Le-
high Valley but began to sell of in spots. |
New York Money Marle.-
New York, Nov. -MONEY-Money on