The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-20
REGARD BREAK
In STOCKS AS
HEALTHY SIGN
Wall Street Not Disturbed
by the Sharp Decline
i'm Prices.
WILD SCENES END
1.41O.3OO SHARE DAY

Stock prices. which have been advanc.
Ing in a sensational manner In one OF
the greatest bull markets which Wal
Street has ever seen. reacted sharpl,
yesterday and during the last three.
quarters of an hour of trading declined
ut almost as rapid a pace as they have
been going up. Coupled with the fac,
that yesterdays transactions totailed
l+l0.300 shares. the largest days trad.
ing since September 81 1911. when L.
14l.a74 shares were dealt in, the session
Of the market was one of the most ex-
citing that has been seen since the pre-
cipitate slump OF prices last July. jus,
previous to the closing of the Stock FIX
change. Trading was so fast and furi.
GUS that the stock ticker was anywhere
from ten TO fifteen minutes behind the
Sctual salS.
The market opened stronN yesterday
morning. with all the leaders Oh the list
such as United States Steel. Union
S Sor,hs southern putisr I"eaSc, Readtns;
stocks. showing gains ranging from n
traction TO "A point or nSre above the
close on Saturday. AS Il result of the
the present mNsyemen, wor. rnai.,a.sa
United States s,ael haa ,aaa.a, ea-S
AS compared with ga an Sa.,,' Wv
S5& a week ngo. >tax.,an ~ "m"
which io1 ,,,. - iroieuiil'
points ON the close OF last week Union
Paclfic had risen TO l3+li and Southern
racine TO 20, both hew high levels on
was uuoted a, is "he!
la on Saturday ana Eor,ho,, i,aata+
1T ll2ss. arains, ioa,S panrs,,,'a't''
a stock which is Glow, a,,n,',a,n '','.'' ,
gained . IN n, yyhan 81. 80"
N''''''
Rcac,to, . u,. o..
-, ne reaction, hoSever. as viewed by
AN street was a healthy one in spite
VI Its suudehness. IL was generally be-
l'eVeu 10 nave been caused by an over
bought condition of the market. For
several DAYS prominent brokers and
oeeoming topheavy one and that some
been heavy and Tho en,i-o H., ,,''. nao
,ombed with sto,, ordars h,. ,a,a,,,'' ~, -.
had made , considerah,e Ia, WI" uo
great inward .oyemen, and who ha,I
taken steps to protect ,bamseivas
against any considerable loss Tba ,raa !,
upward swing in prices. moreoyer had
driven The short" element yir,ually an,
of existence and there was no frantic
demand by that class Of speculn,ors for
stock TO stay the reaction when /, once
'amc.
In fact Wall Street was glad 10 see the
market turn as IL did. and II was pointed
out that some decline in prices was only
natural after such a rise.
me industrial stocks. which have been
making the most sensational advance
during the last month or more. we're the
hardest nit. however. and the declines
registered III them were considerable.
rms IN no small sense Is believed due
10 came ana more mature considera-
ION or the fabulous war orders which
me. are r'pofled 10 nave received and
n'|a!'oii thdl III many cases the
80 'lese oruers would not be
!, Nc. - W ue SO niuch III evidence IN big
,.e,,IJ u 'e''S '''s "se"' year as they
"'"'' "eN'
"er >'"'Hs ran Away.
American Locomotive, which on re-
ports of war orders aggreeating more
than $50. 900. 900 bounded nm is noin,s
in one day last week, slid off 81.
points Yesterday to so, as COMPARED
with 6S on last Friday Baldwin Loco
motive, another company whose stocks
had had a considerable rise on "var
business lost points to as: while
Withln a Few months from 30 to 1876,