Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-09-26
NEW YORK STOCK MARKET.
F Features of the Days Dealings in All
tae Leading Stocks.

New York, sep: 25--The most extensive
decline ia stocks which Wall street has
known since the Ions downward moNes
ment began early last month occurred
today The selling extended through the
entire list Prices gave way i'll every
quarter and the losses of many OF the
leading issues ranged from four to SiN
points In the late trading the tnarhst
developed pronounced strength and stocks
rose almost as abruptly as they had De.
Cined. The end of the session found
losses gF attv reduced.
The day began in comparative quiet.
and although the market still showed
signs OF nervousness, the last hour Wit
messed no unusual tluctua tons Before
noon, however. the selling Increased 10
enormous proportions. Orders 10 sell
flooded the market. which broke prectpi-
lately. Almost all the leading issues fell
to new low points of the wear, Union
Pacific which was the object of partieu-
LARRY heavy pressure, broke 81 10 l5.'.
Reading lost five. It Paul four Northern
Pacific. Southern Pacific. Canadian IA
citc Great Northern preferred ana ise
high Valley four or more. Among the III
dustrials the metal shares were especial
~ weak, Selling of United states Steel
was extremely large, although Reading
and linton Pacific were thrown On tie
market IN almost as heavy amounts.
United states Steels low point Was ais 4
decline II I Analgamated Copper Inst
4. American smelling q. and Anaconda
three American Beet Sugar, American
Cotton oil. Virginia Carolina Chemical
National Biscuit and United states En-
press broke four points or more.
Attorney General Nickersham' tutiula-
ton that a tentative plan for the dissotu=
ton aud reimbursement of the American
Tobacco 20. has been agreed upon was
the signal for the recovery. The UPWARD
movement began in the American Iohae=
60 Securities. ON the curb The COM
mon shares rallied II points, Tie pre-
ferred res.. from 81 TO ~ OH the Stock
Exchange and both the per cent and b
The movement extended TO the remainder
OF thc market. aud before the close tha
bidding became spirited. Etecoveries tans
I'd from f8o To four points United
ltates Steel elosed With only fractional
losses
With the exception of the word feeeiR-
ID from tie attorney general. there We're
ne Developments 10 throw light upon the
rlouded situation which has unsettled
Wall Street So completely. While today
break was attributed i'll part To the bear
side Of the market, it was evident that
liquidation on q large scale was sun III
progress. As the decline proceeded, IL
tuidation IN speculative holdings was
formed For - time thc market was
threatened with utter decentralization.
Rear REPORTS with no apparent founda-
tiou were circulated with effect, 1t wits
hlHtcd Thai the government was about ~
bring proceedings against other large cor
pnratinuS. The uncertainty when pre-
vailed everywhere was perhaps thA most
batning aud dist ling fca ture. Their.
;,npeared To be lltle hope of settled con-
ditions until some definite indication! was
obtained as TO the position of the United
states Steel Corporation and other large
concerns under the sherman law as now
construed.
Transactions In stocks amounted to l.
49,. SEQ shares, the largest total since June
10 1910 Ponds also were very active.
Prices were depressed sharply hut there
was a recovery when stocks rallied To-
tai sales Of bonds, par value, A,2bWl,
l'uited states government bonds were un-
changed on call.