Omaha daily bee., 1911-08-17
new YORK STOCKS AND BONDS
Heavy Selling Movement overwhslms
Market Daring Day.
UNION PACIFIC AGAIN IS WEAK
Heavy OutPourinE OF Hnrrimsn
stocks, ToEether win Retirement
Of Prick. Produces Prsfsund
Impression In Market.

NEW YORK Aug IA selling move
nent Of greater scope and proportions thAh
any that has overwhelmeo the stock maj
ket in the three weeks Of its almost untn-
ierrupted decline Was Witnessed TO-DAY.
Prices fell from three 20 five points m
shares which have long been accepted as
gilt-edEed while losses IN more obscure
and less negotiable shares extended 10 ten
POINTS.
me day opened with little premise Of
bettsrment. London's market for American
securities being one 70 two points under
last nights closing. The weakest issue ~
that market was CansoiAn f lhi.a 10
Other stocks, including Union Pscnc.
which has been the barometer Of the
market soon fel point OF mere .,S Ah tSs,, ss
were NJ the lowest level Of the year.
The continued weakness Of Unton Pacific
constituted the greatest element OF hisI In.
thar stock Al its low price today showing
a loss Of over twenty points in less than a
fortnight. In fact the selling Of the hsrrl-
n an shares has been the most conspicu-
Gus feature throughout New interest wAs
lent 10 the movement today when il pc
came rumored that the Hartman esteie
had some time age disposed OF Us hcio-
ing in the transcontinentRls. These reports
we're later denied in authoritative quarters.
It is nevertheless tact however; thn'
together with the retirement OF Mr. flick
from the Hartman directories, have pro
duced q profound impression In the fannn-
\ Foreign banking and general financial
conditions seem 70 be under some tension
al the moment. as wsE shown in private
some financial interests 81 the German
ca pital While nothing Apparently came
Of this the mixed conditions IN LONDON
Bnd further evidence that the Bank OF
France n making strenuous efforts 10 cur
tai its credits in other countries coeia
hardly be regarded with serenity.
Canadian Pacific, which 81 one urne Va
six points under Yesterday was s4Ieclso
by unfavorable crop conditions Ano neaNy
selling both by London ana Berlin. thfec
unimportant failures were announced IN
London The market rallied in the las1
hour under the lead Of Reading, mon
Pacific and Canadian Pacific. those issues
recovering from IL 10 points from tne
maximum declines but the markets IN
dertune remained uncertain to the Close
which was heavy and hesitating.
notable feature of the session was the
weakness Of many minor railway sha.et
few Of which had suffered carrier in the
reactionary movement. In TINS hst were
included wasbash preferred. Toledo. ~
Louis and Western preferred. Kansas CITY
Southern. ST. Louis and san Francisco sec
ond preferred and Texas and Pacific
Following the close OF this market cables
from London reported a penicRy CONDITION
in Americans in the market there The
more important net losses for the Gay mere
were: Lackawanna 10 points IeKas con-
pany s points. United States Pipe preferred
AZ Dciu+s T-r{Ou Pa cffic 49, .-~i-'- Cana
dian Pacific 5E points; Rock Island pre-
ferred 49, points and Gen. al f.rctrlc %
points. while over q score o. STOCKS lei
over ? points Total trAnsac tions were APP
proximately 600 shares. which lie close
to last weeks most active CAV.
The bond market was heavy with sharp
declines In various speculative issues
Total sales par value. g. 140Oo0. United
States government bonds were unclaimed
Number Of sales ana reading quotations
on STOCKS were as follows: