Show c 0 0 0 r STOCK EX s STARTLED BY BYI I ANCE Of ROCK OCR SlANn r I f Fears of a Corner in the Stock Caused teavy Selling of Other Securities Se and for fora I Ia a Time There Was Vas Much Mach Excitement f No Ne ork Doc 2 I market t movement that had al nil the tir or a cor cornor or caine today todar whon th common stock o of time tho Hock flock Island company within Ive live minutes of te the opening 1050 rose from 50 58 to toSi Si 81 when I it back again after heavy hemy tradIng to 50 Al All this starting startling pyrotechnic ad advance advance I vance ot or 31 points and the tho earl early sure stir to the opening sale price caused a shiver of fear 01 on the stock exchange which spread It Itse itself se self across time the continent on brokers wires that a a corner corne had ben boon of cr on the tho stock of the th Rock s s land com company pa A blok block of 1800 shares was soll at Sl 81 the tho top price R Rock k Island Inand common closed at i 11 1 12 last Friday or of a corner corner causer hea heavy selling throughout the securitIes Is list and there numerous declines of 1 to tn points It seems al as though some ome on one has I been heen selling eln that which ho did not notown notown I own said a o of the Rock flock Is Island laud land management and of time the company have hall had nothing to Ie tofo fo with the spectacular advance and andI ann annit I it lols looks a as I if there was considerable short Interest In iii tho ho stok stock and this Interest was apparently hadly cL ed today TIme The opening sale of Rock Island was as GOO COO shares at 50 and then time the stock advanced an eighth a quarter amid then leaps and to the tho hugh high price to 81 SI On Onlie the lie advance blocks of stack stoel from 10 to shares hands bands At tho ho top toil figure enormous sup supplies ples plies of came out and a violent ensued The Tho decline how however ho hoover over ever was mitch steadier titan than tile the ad advance advance vance the recessions running gener general generally al ally by fractions and from 1 to 2 points WIthin fifteen minutes the price ha had fallen back to 50 rs believe that a corner had been engineered in the stock and there thore was a general rush Tush to unload tie the sf sp list Je t became through fear foams of of oC a bear panic In Rock Island Pacific after open openIng lag Ing up 1 point rn ran off of 4 I below Fri Fr Friday day Copper dropped back 38 S tinder Fridays and there was as a general unloading or of so causin causing acute weakness The Joss boss in Pennsylvania 2 12 In Inthe inthe the half haIr hour Reading Heading 2 38 United States Steel 1 Union preferred 1 12 and AmerIcan Smelt lag ing 2 The in Rock Island corn com common mon niomi stock lck was generally credIted to a frightened short interest since It was I recalled that tho control of the tho corn com company pany hoes does not lie with the common stock and therefore an any suggestions that competitive bidding h ly Interests seeking to control the property properly were not nol t to b be entertained under the cir circumstances One of the directors of time the Roc Rock island and also connected with th time banking Interests of the road said There Thoro Is nothing in time tho affairs of oC the company to o account for or the ad advance advance vance in time the price o of the stock in sich sicha stick a violent I It appears to be a squeeze of the he shorts This same Rock Island official said that thal to the best or of his bis knowledge neither W V H Moore who is now in Chicago nor DanIel G Reid Heid was in inan an any way connected wih with moC move Trading in Rock flock Island common stock in the first twelve mInutes ape ap d shares Rock Island rallied to 53 3 1 12 but thelo there was renewed evidence that lint there were large lao of that stock in lie tho market and time the price ran of tiff again This served to tranquilize the rest of the and prices began to recover Amalgamated Copper Coppel rose roseto roseto to SS 2 South r Pacific 1 1 12 Pennsylvania lo arab and other stocks to a less boss degree The was quieter before time the fi lour hour over and pries prices had ceased to tim as wi wildly ly as at The he flock ock Island nd epi episode od was time the theon I on one of oC discussion in to the cal cial T It was that an would be made Into the tho malter h by the gover governors lions nors of tile tho stock exchange Time rhe re report port on omm time the foor loom of time the stock exchange was that a cerk clerIc In handling an aim order of shares made an en eL mom and made It read shares Tue Tho best opinion obtainable in al all financial and brokerage circles was wasI ane I that hat a short had been caught in t laid trI trap lh the springIng of which was only of oC time the or of ceral of time tho larger Tile h hock Hoek island bonds which were er iti in last weeks colts sp hc In Imi time tho Rock Is Island island land deal feverishly Rock collateral Is 1 sold at 85 a block or of anti and then slumped to 83 rho fhe Wabash refund In sold at 78 12 and then ran of off to 7 77 11 Wabash preferred dropped ulder Fridays close One and Jfe shares of Rock common traded in du during ring the tho hour |