Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-09-25
SHARP RALLIES
FEATURE MARKET
IN CLOSING HOUR
Plan for REIMBURSEMENT of Amer
lean Tobacco Co. Sends
Prices Up.

NEW YORK. Sept. 25.-Further
weakness developed in the stock mar
ket at the opening today, although
there was no sign of the extreme ner-
Nousness of last week. The first tran
saction in United States Steel was a
block of 5000 shares at 561s to Do COM
pared with Saturdays close of b6A'
on subsequent transactions the loss
vas increased to a point. n pre-
ferred reeeded a half. Weakness OF
the copper group was acute, American
Smelling sold at 5S1s, a decline OF IA.
Anaconda receded a point to 5lh ana
Amalgamated Copper Ia to 4i9s, all
low records for the year. Union Pa
cihc lost 2 points, Canadian Pacific 1as,
Northern Pacific IA and Lehigh Valley
and General Electric 2 points each.
II a. m.-The market was unable to
retain the gains made during a s1ght
rally which followed the initial decline
Heavy offerings of the copper stocks
offset the support extended to the 1al]-
road leaders, and prices all around
sank to a lower level than at the 1
Sc, with considerably more selling II
the representative railroad stocks.
United States Express broke q points,
Virginia Carolina Chemical and Amer
lear Beet Sugar preferred S12, Amer
lean Cotton Oil 81, A~malgamated Cop
per 8, American Smelling 2Ss ana Ana
conda . and Reading IA.
Noon-Liquidation more general ana
virulent thar any which has o~vertaken
the stock market in the two months
= --.A uta,AtF An0linn WAS VIII
messed today. The selling was not on
so large a scale as that of last FRIDAY
but declines, especially in the copper
and affiliated shares, were more preclpl-
Ia tie. According to board room gossip
the selling came from all quarters IN
GLIDING Europe, and was pronaoly IN
tensifed by the presence in this city OF
the Acknowledgement of the Uhlteu
States, whose attitude toward trusts
has recently provoked so much uneasi-
ness. To the impartial observer the
course of the market this morning sug-
gested that railway shares were heid
steadv last week chiefly for the pur-
pose of unloading elsewhere In the list.
New low records for the year were
made today by Union Pacific, Reading
al some other high-grade issues. AT
midday stocks wer pouring in In largo
.olume. and the extreme weakness of
tha less negotiable issues indicated that
they were being thrown out of loans.
Bonds were heavy.
/ p m.@-rtere wis no cessation of
tie lfn~tdation until the end of the
noon norr. Tho movement was dis
trcl ''oil FOR the low records created
IN ally in steel common, which
fr~oi 81 10 51ss, but in practically all
csiler active stocks, and the market
p unmistakeable signs of de-
mC.ll. a.ioA. Lack eff definite develop
ms 20 1eoou@t for the selling added
(. . alarm "a the financial district.
] trUIts That the American Tobacco
- unable to come to terms with the
81. e.linent with its efforts to reor-
t,ii'.e were current, but they found no
reflection IN the shares of the company,
winch were comparatively firm. When
selling diminished at about l o'clock
there was a general rally of 1 to 1M.
2 p. m.--The amount of trading fell
. eli largely after the noon hour, and
the market was somewhat calmer. Sew
eral drives at the list were made In the
early afternoon, iii fluctuations were
less severe and u. S.. Steel was the only
stock which fell below its previous low
point. Some of the important railroad
stocks were In demand at a level of
about a point above the low figure, but