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Show VIOLENT BBSIK ON WALL STREET NEW YORK, .March 7. Prices of the speculative favorites - broke violently In . the opening dealings, under a heavy unloading un-loading at the recovered Jevel of yesterday's yester-day's rally.- A few of the less Important stocks showed gains, but these were without with-out apparent Influence on the general weakness of the list. Canadian Pacific sold off 4 and Great Northern preferred U. Atchison 11, Union Pacific and Southern South-ern Pacific a point, and Pennsylvania and United States Steel large fractions. Reading and Canadian Pacific rallied 2 points almost Immediately, and the market mar-ket steadied. When the market began to demonstrate Its reslstence to pressure, large purchasing purchas-ing orders were placed In the Active features, fea-tures, and prices were marked up with" as much dispatch as they had previously gone down. Reading rebounded to where-It where-It closed yesterday, and Canadian Pacific Pa-cific got back all but a Miction of Its loss. In other stocks the level at the recovery re-covery averaged well near last night's closing. Denver & Rio Grande gained 21 and Union Pacific 1. General selling was resumed later, some stocks touching lower prices than at the outlet. Atchison broke 2, Anaconda 11 and Northern Pacific Pa-cific l!. The market steadied at 11 o'clock. There was an occasional dip In some Individual stocks, but the general list drifted narrowly and then hardened. Union Pacific rose 11 over last night.. Bonds were irregular. The excitement and disorder In the early market Indicated that the bear party had recovered from the demorallsa-caused demorallsa-caused yesterday by .the report that control con-trol of the Reading had passed to Harrl-man. Harrl-man. . The failure to clear up the mystery mys-tery surrounding Reading was the unsettling un-settling Influence. The identity of the buyer and their moves remained in doubt.l The sundry opinions on the -subject were of an accumulation for new control, con-trol, a new speculative movement by powerful Interests on the long side of the stock, or a mere speculative movement in the market to drive in shorts and make an advantageous market for disposing of further holdings. On the Stock exchange the trading was watched with great interest. Operations in the stock during the first hour aggregated aggre-gated about 80,000 shares. Harrlman's associates said they had no knowledge of any Reading deal. J. J. Hill said: "I don't know anything about Reading, and don't want to know anything about It." |