The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-01-26

-. -, work Ian 26.-STOCkS-
Highly irregular movements % seractad a
ing the morning apparSgn.t;ly oninion on
confused state of speculative Op nffsct Of
f1a market The sentimentai SAeSS1 "a
the reduction of the St PAU tls tocI[
49, charm break in the price Oh tue So -
~! me s n,sdan before the opening gave tne
,,1ar.lxat ar appearance of heaVlness u9SP ~
the bidding up of a lew stoch Aoe e. ,,ro-
outset. This manipulauon W1S FERN nre-
nounced in Reading, Great - ms a,,par-
ferred and New York Central anu am epf I
entity was designed to coneeal sS,ad that
where When traders dlscoNeIeI5 49,
w. .e +bie natllre were being maze ltey
s sttseSea the list and the whole market
gave way. e 4t.s-
The bears wfdened the scope OF tnelr
selling and stocks which had showed oe-
cided strength earlier, particularly e5Ieae
Northern preferred, registered snalp
losses United States Steel was VuineE-
able and when it gave way to Goa ~
weakened the resistance OF the genera
market International Paper preIeIIeu
converted an early loss OF point t Il
a gain of over Z polnts- <1ii4ei A
bacco rose 712-
Bonds We're irregular.
st. Paul dropped sharply at the openlhs
of the stock market today on account %
the reduction in the dividend rate a siI
the market closed yesterday. Inc lI.si
transaction was lot OF tMo ~ lS 79it,I
shares at 1878 to 1914, compared W. ~
xesterdav's close of 1OSaz. 1t subsequently
rose to 1OS; the general market was . lIlsS9
ular trading in Reading ana was unu ~
Great Northern preferred advanced J.
T,orillard q and New YORK CentraI 2
Union Pacific, Lehigh valley anu MI III
ern Pacific were heavy 49, 49,,
Stocks were purchased for time when
Reading and the Hill group began 70
show strength but when the hst mao III
proved to about yesterday close laISe
ceiling orders were executed and the
market dropped rapidly. Union Pac 1,lss
sold 15s under last night. Lehigh , NailsS
Utah Copper IA and Northern Paclllc
st paul broke to 107 American 10
bacco gained and Liggett and MERGERS
Pa. "a. .,ssa., tho
movement in the Standard stocks being
helped by an active demand TOT rev
york central, which advanced points 70 70
1Oo5S. recoveries, however, were Inosly
fractional and trading was very hBhI on
taa ,1nt1Irn Among the specialteS num-
erous advances were erected OF 4 sPeS-
fac11lar nature, especially IN the IoDacc9
orol1n American Snuff sold at Aoo anu
9o5 American Tobacco scared IA points
T ori1Iard e1h and Iiggett and Meyers o.
Material strength also was dlsplayed py
+J,a fertilizer group, Texas company, tne
International Paper stocks ana virginia
Railway and Power preferred
enec1IIaffon during the afternoon was
LARGELY given over to manipulatlVe. move
Toenta in special stocks when exerteo DHe
little erect on general sentiment. Aslae
from a rise in New OK CeHtIas - " -
bIo Mt showed a good undertone on par
fiaI recoveries from the depression For
eie-n operatfons were on largely IN
creased scale with London sales esti-
y ss a. * eoO shares. The weeks cur
.-aneIT movement is expected to shaw
eair in cash by the banks OF about $l4,-
an 600 as a result of the continued heaVy
infIovv of money from interior points
torioar, ,Tobacco extended its gain to
u roints- touching PSF. It opened yester-
day at $50.