The daily morning journal and courier., 1907-02-19
STOCK MARKET FEATURES
UNDER BEAR PR ESSURE PRICES
 SAGGED.

Early Weakness Followed by Better Feeling at Close-Duns Pointed to Aldrich Bill; Bears to Note Issues-- No Gold Engaged--Gossip of the Day. For lack of any other explanation of yesterdays sagging of prices cessation of buying power was trotted out. It was alleged that the buying public were now holding back for lower prices and some of the bears seemed anxious to accommodate them. There was talk of more issues of notes by railroads Pennsylvania. for instance. Most of the days news and rumor had to do with fresh issues of railway notes, and this has proved good bear ammunition. The shocking disaster on the Harlem road caused a drop of 1 point in New York Central. From the behavior of the remainder of the list it is altogether likely that the effort to depress Central originated with the bear pool, which was busy little later attacking most of the active issues.
 The failure of New York bankers to get any part of the $2,OGO,OOo gold ar irving in London, when exchange is favorable to imports, made a good many persons wonder at the patience of financiers here and their willing ness to forego withdrawal of gold from debtor nation.
 From the way in which American stocks were run up in London before the local opening, Union Pacific being 3-4 point higher and various others 1-2 point up, it was common belief that the New York market would be stronger, but it wasn't.
 The announcement of the St. Paul that it has concelled contracts for ST. 0O0,000 of work on the Chicago Mill waukee on account of high cost of la bor and materials pointed to current corporate tendencies in this direction
 The setback did not bring out much stock, and between 12 and 1 o'clock trading became stagnaHt, indicating that the outside public apparently did not care to sell any more than it did to buy.
 Reading it was said was to issue $25, ,OOO, ,00O in. notes. Others claimed that it was the Louisville and Nashville and the Atlantic Coast line that were nego- tiating for capital.
 Fears of developments at the Inter state commerce investigation of the Hartman lines, which will be resumed next week in New York city, probably had much to do with the checking pur- chases of stocks. Some persons expect to see MT. Hartman explaining mat ters in such way that Wall street will be buying insted of selling his stocks
 The largest sellers of stocks during the first part of the day were two rec ognized bear operators, one a western leader, who were reported as putting ont some 10000 or 10000 shares.
 Too much traffic for the western roads to handle is still the case.
 A pool is supposed to be trying to work off some more Central Leather common.
 Time money was a trife higher. Call loans were renewed at 5 1-2 per cent. and great deal of money was put out between that and per cent. The whole market was generally firmer. Out-of- town lenders did not as a rule disturb their loans here.
 Apparently the Bank of England outbid all competitors for the gold com ing into the London market yesterday
 In Boston features of the market were advances of Il points in Osceola on talk of Calumet and Hecla purchase to control in it's interest, nd further drop in Trinity on steady liquidation
 The foreign liquidation, or profit talk ing is keeping Kansas and Texas from advancing further Dutch and English holders have from to 2 points to their credit, and are converting paper values into cash, The stock stands this selling well.