The daily morning journal and courier., 1906-03-15
STOCK MARKET FEATURES
AFTER 4 STRONG START PRICES
 SAG 4 LITTLE

All Leading Shares Closed Weak
 Chicago Traction Tumbles Again--A
 Depreciation of Millions of Dollars
 Long Dull Speels--Sharp Rise in
 Money Causes the Weakness-The
 Days Gossip
 Yesterdays market strong at the
 start, became weak in the afternoon and closed weak.
 There were long dull spells when the ticker hardly licked at all.
 Things looked as if the bull movement was taking a rest and as if the shorts had all been run in
 After awhile weakness appeared in many stocks
 The total sales were only e15Ooo shares
 Public participation was lacking, and even the large professional operators left the market in the hands of the foom-trading element.
 All eyes were still riveted on Indian apolis, where the btuminous miners went into session yesterday. Wall street IS getting more hopeful that there will be no bituminous strike.
 An increase in the country's agricul- tural exports of 1928, 100000 for February and SlSO, ,7OO,O0O for eight months of the hscal year accounts for the recent ten dency to gold imports.
 The shakedown in cotton with +ba lowest prices of the year, probably caused some liquidation in stocks bv those who were carrying both stocks and staple.
 Brooklyn Rapid Transits strength was an interesting feature. Tips were out that 1t would go to 90
 lot more Chicago Union Traction came out during the morning, driving the common down to 5%, 1M points m. aer tuesdays closing, and the preferred uoWn 10 zlH, a further loss of S1s points compared with Tuesday. It was smash of 7B points ih the common and of 26 points in the preferred since inc hlgh prices were touched on Monday when the United States supreme court decision was incorrectly reported as fa- Vorable to the company. The contrac- ton, running far into the millions in the market valuation of the companv,s securities represents one of the worst collapses of the sort in a long time.
 Late calling of loans by prominent doWntoWn bank occasioned the quick rise to per cent. in the call loan rate during the last hour Then other instt- 1 tutions followed suit, and borrowers soon bid the market up to the high level of the day,
 me report popped up once more that Lawson, after a long silence, was pre- pairing to attack the coppers again. But nothing happened.
 It is the hardest sort of a market to make money in,'' was the complaint of ont trader who had been whfp-sawed The frequent and cratic changes in tbe market movements recently have left spectators much mixed as to which side to take.
 Stocks sold off rather sharply in the { last half hour, with Reading leading the movement. Amalgamated Copper An aeonda, Steel common, Union Pacific and other usually active stocks ioined in the setback. The rise in call money to per cent. was probably responsible for much of the selling. The way in which the short interest ] was squeezed on the run-up in the mar ket Tuesday afternoon operated as a ! check upon fresh short selling yester- lay. Some lenders expected the furry in ! money and would not release large sums until 51z per cent. was reached. I At and 51a per cent a considerable I mount was placed, The Standard Oil dividend, amounting to s15,OOO, 900, is the thief payment to-day. T The shading of prices in cotton goods s attracting attention as perhaps in- Iicative of some let-upain general busi- less T Strong efforts were made to put m ! outhern stocks on the prosperity of he south" theory. A prominent opera- [ or was largely responsible for this. 'outhern Railway and Louisville were " he principal stocks selected for this V urpose The movement, however. did ot induce any public buying.