The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-08

whether the big ship in going to the bot
tom had carried any passengers with
hcr. ana suspense added gloom to the
anxiety OF tho brc kers struggling In the
whirlpool of trading.
Yves inghouse. the second most promi-
nent war order stock. dropped with dag
irg swif ness Just after a 10 point
break In bethlehem. Westinghouse. which
nuu slpped away ON par to %,
cropped 3la points In one sale to 9Oh.
Tn the next transaction II lost 8 points
more and In few seconds was at 10.
the low OF the day. and 81 points below
the nigh OF little more than two hours
before.
standard stocks Tumble.
Stocks were being thrown upon the
market In great blocks. Strings OF quo
tations OF a single stock came out on
the tape. dozen or more In one line
steel III one of the declines went to s1L,
VIZ low. In a single set of quotations on
1000 shares. Amalgamated Copper
dropped ~ points In one of It's tumbies
Union Pacific and Reading fell fast. In
less than half hour after the big de-
cline started standard stocks had lost
from to II points. Copper lost l1%,
Utah Copper 81. Canadian Pacific and
each. Union Pacific nearly Z. Reading
more than :. and Steel 6.
Many holders OF stocks knew nothing
OF what was going ON. They had left
stop orders so low that they did not en-
pect them to be SO suddenly reached
and had gone away. Some brokers fran
tically tried to get IN touch with Gus
toners for more margin. II was almost
Impossible. Before they could get to
la.
avalanche had carried through the ma r.
gins and wiped out holders OF stocks
aut omatically
The tape WAS far behind the ma rket.
twelve minutes at the close. with the
Gold and Stock tickers. which takes its
quotations from the Stock Exchange
tape more than twenty minutes late.
Customers in stock Exchange houses
who sold as they saw prices collapsing
found at ,he close of the day that their
selling orders had been executed at from
three to eight points below tho price
Oh the tape when they ordered sales.
! The tape could not keep VI.
ON the floor the slide Of the market
gathered its frst momentum when
I brokers found no bids for their offered
stocks. Old traders had to hold In check
some of those who were untried In
panics. and in the dismay Of the thing
points at a time.
The chaos In the market ended shortly
after . 80 O'Clock. The turn came with
, AN overpowerng sweep.
Big buying IN blocks Of 1000. 1000
and as high at $500 shares of S;eel. oi
Union Pacific. Copper and other stand.
ard stocks, carried prices speedily ip.
, ward. Bethlehem steel and Westing
house made bounding recoveries.
/ The buying had evidences OF be ms
! Of the best Big banking interests. con
1 WINGED of the fundamental soundness Of
| conditions. were buying steadily and lay
! ing away stocks. Il was said that N,
: STANDARD oil Interests were most prom
! inent In the spectacular recovery VI
7 prices. The closing was with a confident
J tone.
| Vt the rate of the las; hour. wher
more Than 100000 shares were sold
/ more than half of the whole day. III.
trading was the equal Of the heav!es,
: In that space Of time that had ever beer
! known. \ full dsy at that rate would
, have produced a total Of $500. 0ot
D shares