Daily press. [volume] (Newport News, Va.) 1896-current, 1907-01-09
BEARS HAD UPPER
HAND IN MARKET
sei'as
They Set AfI0at Runors Which
Caused Speculative Sentiment
10 Alter Very Much.
SOUTHERN RVS SHARP DECLINE
United States Steel was Also Heav-
lily sold-Tone of the Money
Market Was Much Firmer-Pur.
chase Of Telephone companys
Notes Occupied Attention.
(By Associated Press.)

ipIN ioftN, jan. Cine STOCK
market became shaply reactionary
today and speculative sentiment UNI
derwent market alteration Various
factors contributed to this result,
including several rumors of which
the failure of confirmation pointed
to bearish origin. The principal
influences on the decline were the
recurrence of uneasiness over the
money outlook and the disquieting
effect of obvious pressure to sell
Union Pacific. The tone of the
money market was frmer. Follow
ing the furry to 10 per cent of
yesterday it became evident that
existing banking resources were too
scanty to allow resumption of
speculative activity on large scale.
The announcement of the purchase
of $25,OOO,O00 of three year five
per cent notes of the American
Telephone and Telegraph company
ruled the attention of the financial
world. The fact that large capital
SUN tcHldln W ne SuS-
tanned, and the fact that the amour;
was equal to owing the under
writing last spring of 100000
convertible bond list of this COM
pany on which installments, payable
from time to time with a large re-
source on hand, resort to note
Issue under the circumstances, isl
regarded as significant of the un-
favorable conditions for the absorp-
ton of any cash on the market
Southern railway ran off sharply. !
United States steel also was heav-
lily sold. The announcement that
the New York Central would repay
the dividend payable on January
10 on Thursday of this week was
Il promise of a modifying influence
on the firmness of the money market
but it also regard as a testimony
of necessity felt for measures to
conserve the ease of the money!
market. There was some covering
by shorts at the declines which
we're quite severe but there was
no effective rally and the marke
closed Irregular. Bonds were irreg-
ular. Total sales par value $780,,
900.
United States bonds were un.
changed. Total sales $4,000 shares
including Copper 115,6OO; Achtison
$500 Brooklyn Rapid Transit 49,
400, st, Paul 20,10O; Colorado Fuel
and Iron 1900, Tobacco 800, Penn
sylvania $500 Reading 169 ,4OO,
Southern railway 1900; Southern
railway pfd 500; virginia-Carolina
Chemical 200.
Adams Express ........... 200
Amalgamated Copper ....... us "a
American Car & Foundry -. 1884
American Car &c Foundry pfd 101 1-2
American Cotton Oil 800. 81 SIS
American Cotton Oil pfd $50. So
American Express ......... 240
American Hide & Leather pfd %
american Ice ... SIS
American Linseed Oil II
American Linseed Oil pfd 80. IS
American Locomotive 73
American Locomotive pfd. 40
American Smelling &c Refining 1852
American Smelt. C Refng. pfd. 116
American Sugar Refining -. 1874 Ia
American Tobacco, pfd. certif. &c 1-2
Anaconda Mining Co. ....... 1873 ~
Atehison ............ ....... los rs
Atchison MD ........... $500. 100 IA
Atlantic Coast Line ........ 131
baltimore & Ohio ......... 100 rs
Baltimore &c Ohio pfd ....... %
Brooklyn Rapid Transit $500. SITS.
Canadian Pacific ........... 1913
Central of New Jersey ...... 215
Chesapeake & Ohio ......... 55 rs
Chicago Great Western 80. 173-S
Chicago e Northwestern 80. 1913
Chicago, Mil. & st. Paul -. $50 Ia
Chicago Terminal & Trans.
Chicago Terminal G Trans. pfd %
c.. c., G. &. st. Louis 1890. 90
Colorado Fuel &c Iron ...... 551-2
Colorado & Southern ...... SO 1.2
Colorado & Southern list pfd. 60
Colorado &c Southern End pfd 5T1.2
Consolidated Gas ........... 1913 Id
Corn Products .............. 1924
Corn Products MD ......... 841-2
Delaware &c Hudson ........ 221
Delaware, Lack. &c West $40
Denver & Rio Grande 1890. 70
Denver & Rio Grande pfd -. 22
Distillers' Securities ...... 72
Erie ,........... .... A3
Erie 1st pfd ........ ....... rs
Erie End pfd ....... ..... &C
General Electric ......... 1853
Hooking Valley ............. 126
illinois Central ........ lGj
International Paper ........ 171-2
International Paper pfd ..... 1912
International Pump ........ 391.2
International Pump pfd So. 80
Iowa Central .............. 2S14